Zama will launch its token sale through CoinList and its proprietary auction application.

Odaily Planet Daily reports that Zama has announced it will launch an on-chain token sale through CoinList and its own auction platform, with a fully diluted valuation (FDV) floor price of $55 million. The sale will use a sealed bid Dutch auction structure, distributing 12% of its total supply of 11 billion tokens.

Zama co-founder and CEO Rand Hindi stated that the 12% token sale is divided into three parts: a 2% community sale to Zama’s NFT holders this week; an 8% sealed bid Dutch auction in partnership with CoinList from January 21 to 24; and a final 2% sale at the clearing price through an auction from January 27 to February 2.

CoinList is the primary distribution partner for the auction, but the sale is not exclusive to the platform; participants can also bid through Zama’s own auction application. The main auction will take place on the Ethereum mainnet, with a token floor price of $0.005.