Privacy protocol Zama has announced an on-chain token sale through CoinList and its own auction application, setting a fully diluted valuation (FDV) floor price of $55 million. The sale will use a sealed-bid Dutch auction mechanism to sell 12% of ZAMA's total supply of 11 billion tokens. Of this, 2% is allocated for a community sale to Zama NFT holders, while the main auction, comprising 8%, will occur on CoinList from January 21 to January 24. The remaining 2% will be sold at the auction clearing price from January 27 to February 2. The auction's floor price is set at $0.005 per token.