1. Project Overview

Zama is an open-source cryptography company focused on Fully Homomorphic Encryption (FHE) technology, belonging to the blockchain privacy enhancement track. Its core is to enable computation on data while maintaining its encrypted state through FHE technology, providing privacy protection solutions for blockchain and artificial intelligence applications.

2. Today's Hot Topics

1. Public fundraising has ended successfully: Zama recently completed a public fundraising round, raising a total of 120 million USD, attracting over 7651 users to participate in bidding, demonstrating strong market interest and financial support for its technology and prospects.

2, Public offering bidding price range concentrated: According to bidding distribution data, the most concentrated bidding price range is between $0.03 and $0.04, with community analysts predicting that the final settlement price may fall around $0.04, providing price references for participants.

3, Token Generation Event (TGE) approaching: The tweet mentions 'February 2nd @zama's last dance', suggesting that its token generation event or related important milestones are imminent, marking a critical phase for its token economy and attracting market attention.

4, Associated with the 'mouth grab' airdrop activities: In community discussions, Zama is viewed as the concluding project of a series of airdrop activities (jokingly referred to as 'mouth grab'), with its progress seen as a sign of the end of the entire airdrop cycle, thus gaining additional community discussion heat.

5, There is premium space in the pre-market: According to tweet information, the pre-market price is around $0.055. If calculated at an estimated settlement price of $0.04, there is nearly a 40% potential profit margin, attracting traders and investors seeking arbitrage opportunities.

6, listed as a core project in the privacy track by KOL: In the privacy track watchlist shared by industry observers for the first quarter of 2026, Zama is listed as a top priority (core narrative) project, alongside Aztec Network, highlighting its leading position and long-term narrative value in the privacy sector.

7, Participation methods have certain thresholds and endorsements: This public offering has KYC requirements and is endorsed by a well-established third-party platform. This structure is seen by some participants as a safer and more reliable way than 'self-hosted public offerings', enhancing market participation confidence.

8, Community sentiment and price concerns: Some community members expressed worries about the token's ability to break even and mentioned TGE reward compensation and the risk of price decline. This genuine FOMO and anxiety reflect the market's heightened attention to the project's short-term price performance, constituting part of the hot topic.

Three, key data and indicators

Key data for this public offering is as follows: Total fundraising amount is $120 million; number of bidding users is 7,651; the most concentrated bidding price range is $0.03 to $0.04; market estimated settlement price is around $0.04; current pre-market price is about $0.055.

Four, project risks

Community members have already clearly expressed concerns about the project's token price in the tweets, including 'the risk of price decline' and questions about whether their investment can break even. Additionally, the tweets also mentioned matters regarding TGE reward compensation, indicating potential uncertainties in token distribution or communication.

1, The clever Jeni @Meta8Mate summarized that ZAMA's public offering ended with $120 million, with the bidding concentrated in the range of $0.03–$0.04, and shared his participation strategy and views on the public offering selection.

https://x.com/Meta8Mate/status/2015204707585962091

2, Old Mo @Blockchainrese6 shared a list of noteworthy projects in the privacy track for the first quarter of 2026, listing @zama as a top priority core narrative project.

https://x.com/Blockchainrese6/status/2015048438690525473

3, Socialist successor @VIP8888883 mentioned that @zama's related activities are about to conclude and recommended 9 early projects covering multiple tracks for research participation.

https://x.com/VIP8888883/status/2014982504491692202

4, Charles MemeMax @charles48011843 expressed concerns about @zama's project recouping costs and reward compensation, and commented on the market performance of several other tokens.

https://x.com/charles48011843/status/2015249366832054499