Over 18 million USDT have been encrypted as cUSDT in the Zama token auction, with a total of 2,411 bids placed.

Foresight News reported that FHE cryptography company Zama is conducting a public auction for the ZAMA token. As of now, more than 18 million USDT have been encrypted into cUSDT for bidding participation, with a total of 2,411 bids placed. The supply of ZAMA for this auction is 880 million tokens, with a starting price of $0.005, corresponding to a minimum FDV of $55 million. The auction adopts a top-down clearing mechanism, where the lowest successful bid after filling the 880 million tokens will be the final clearing price. Each user can bid up to 10 times, with a maximum of 88 million ZAMA per bid. This event will end on January 24.