Aztec Network is set to launch its long-awaited token auction on December 2, utilizing a novel Continuous Clearing Auction (CCA) method. This approach, developed in collaboration with Uniswap, aims to ensure transparency and prevent manipulation. The auction has already attracted over 10,000 addresses, contributing 6,271 ETH (approximately $17.78 million) in presale funds. The auction's starting price reflects a fully diluted valuation (FDV) of $300 million, significantly lower than the $1.2 billion valuation from a16z's Series B investment in late 2022. Following the auction's conclusion on December 6, tokens will be distributed but initially restricted from transfer or trading, though staking will be available. The tokens will be fully unlocked post-Token Generation Event (TGE) in mid-February, with community voting to enable transfers. Aztec, known for its Ethereum privacy solutions, has evolved from a DeFi privacy bridge to a programmable privacy Layer 2, backed by prominent investors like a16z, Paradigm, and Ethereum's Vitalik Buterin.