Deyvhid. | ETHGas ⛽

Introducing the Open Gas Initiative - a way for protocols to subsidize gas for users, zero-code, for a seamless, frictionless onchain experience. With OG cohort: @eigencloud, @ether_fi, @pendle_fi, @Velvet_Capital. 👇

Zama announces its Public Auction to take place on its Platform. 10% of $ZAMA supply via a sealed-bid Dutch auction. It's following a similar pattern of Aztec Network - Floor FDV: 55M - Date: January 12th - 15th - Claiming: January 20th In a Dutch Auction, the clearing price is the lowest price at which bidding begins. Pre-registration @ auction.zama.org $ZAMA Utility: - It is used to pay for encryption and decryption - Reward operators and stakers for running and securing the network. All fees are burned, while rewards are minted following a yearly emission schedule. --Steps; ⚡️Shield. ⚡️ Bid. ⚡️ Clearing. ⚡️ Claim. From what I noticed here, Zama bidding considers the highest bidders first🚩 . . {I call this the Top-down-filling. They start from the highest price, fill everything, move down, then fill next until tokens finish. -- Pros of $ZAMA - Its strategy raises more money for the project, projects like this system, as it maximizes fundraising. - It rewards aggressive bidders; those who want to get allocation but don't mind paying extra. - Its simpler and easier to understand and implement compared to Aztec complex Mechanism. - When whales overbid, you can still bid for less with the available supply and get in too. -- Cons of Zama - Big players can fake a high bid to push the clearing price higher. tbh, Zama’s auction is not designed for retail, it favours aggressive/high bidders. But retail still gets a few advantages, depending on how they play it. 🫡 E.g Alice bids $5 but the clearing price is $4. She still pays $5 × 400 = $2,000 instead of $4 × 400 = $1,600. That extra $400 is basically money she burns for no additional benefit. Will update as it goes. 😼

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