The 60 Million ETH Raise That Punished Whales

Aztec Network just executed a masterclass in token distribution, pulling in $61.3 million by selling $AZTEC tokens to over 16,700 participants. This raise, conducted through a Continuous Clearing Auction powered by Uniswap Labs, is a paradigm shift away from the standard VC dump model.

They intentionally set the floor valuation 75% lower than prior private rounds and enforced a hard cap of 240 $ETH per wallet. This mechanism wasn't about maximizing capital—it was about maximizing fairness and community distribution, ensuring whales could not dominate the supply.

This massive commitment fuels their new privacy L2, Ignition Chain. The tokens are locked until 2026, signaling that this is a long-term infrastructure play, not a pump-and-dump. Deep value is being built right now.

This is not financial advice.

#L2 #Aztec #Privacy #CryptoFunding #ETH

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