Zama completes its first crypto ICO, with total auction amount reaching 118 millions USD

ChainCatcher reported that open-source cryptography company Zama announced the conclusion of its first encrypted ICO (Zama Public Auction) on Ethereum on January 24, 2026, raising a total of $118.5 million.

This Dutch auction utilized fully homomorphic encryption (FHE) to protect bid privacy and achieve decentralized confidential bidding, attracting more than 11,000 independent users who submitted nearly 24,700 bids. The final clearing price was $0.05. Total demand was oversubscribed by 318%.