Author: Asher

Zama is offering IPOs on its own platform.

Project Overview

Zama is a company specializing in fully homomorphic encryption (FHE) technology, considered one of the most cutting-edge innovations in privacy computing. Zama has completed two funding rounds, totaling $130 million. In March 2024, Zama announced a $73 million Series A funding round, co-led by Multicoin Capital and Protocol Labs; in June 2025, Zama announced a $57 million Series B funding round, led by Blockchange Ventures and Pantera Capital.

Participation Guidelines and Details

Auction pre-registration link: https://www.zama.org/auction;

Auction method: Sealed-bid Dutch auction (for a detailed explanation, please read: Is Zama's public sale too complicated? Understand the sealed-bid Dutch auction in one article);

Auction period: January 12th to 15th, collection begins on January 20th;

Public Sale Shares: 10% of the total token supply, of which 8% will be auctioned and 2% will be sold at a fixed price after the auction (maximum of $10,000 per person).

Lock-up status: Zama tokens purchased in the auction will be fully unlocked.

Octra participates in IPOs on the Sonar platform.

Project Overview

Octra is a privacy-focused L1 project that supports the FHE blockchain network with isolated execution environments. Regarding token allocation, early investors hold 18%, Octra Labs holds 15%, and the remaining 67% is allocated to the community, including early users, validators, ecosystem contributors, Echo participants, and those who participated in this public sale. No single investor holds more than 3% of the tokens.

In September 2024, Octra announced the completion of a $4 million Pre-Seed funding round, led by Finality Capital, with participation from Big Brain Holdings, Karatage, Presto, Builder Capital, and others.

Participation Guidelines and Details

Octra has announced a public token sale on Sonar (an ICO platform founded by Echo and recently acquired by Coinbase):

Official account for the token sale platform: https://x.com/echodotxyz (The specific token sale website has not yet been announced, but account registration is now open);

Event start date: December 18th;

Sales quantity: 10% of the total token supply. It is worth mentioning that the team stated that if the subscription demand is strong, the sales allocation ratio may be increased.

Sales model: Fixed price of $0.20, with a target fundraising of $20 million, corresponding to a fully diluted token valuation (FDV) of $200 million;

Unlock status: Not yet announced.

Rainbow participates in IPOs on the CoinList platform.

Project Overview

Rainbow is a Web 3 wallet project designed to help users easily explore and manage assets, including NFT collections, DeFi application connections, and cross-chain bridging, through a simple, intuitive, and secure user interface. Emphasizing a "fun, simple, and secure" design philosophy, similar to Robinhood, a Web 3-tailored platform, Rainbow lowers the barrier to entry for newcomers to the crypto world, supports ENS domain integration, and provides a seamless experience on mobile and desktop.

To date, Rainbow has raised nearly $20 million in funding.

Participation Guidelines and Details

Rainbow has announced a public token sale on CoinList:

Token sale website: https://coinlist.co/rainbow;

Event start time: 1:00 AM Beijing time on December 12th;

Sales quantity: 3% of the total token supply, i.e., 30 million RNBW tokens;

Sales model: Fixed price of $0.10;

Unlock status: Fully unlocked during TGE (US users will unlock one year after TGE);

Minimum investment amount: US$100.

Gensyn conducts IPO subscriptions on its own platform.

Project Overview

Gensyn is an open network for decentralized AI systems. In March 2022, Gensyn announced the completion of a $6.5 million seed funding round, led by Eden Block. In June 2023, Gensyn announced the completion of a $43 million Series A funding round, led by a16z.

Participation Guidelines and Details

Token sale website: https://token.gensyn.network/;

Event start date: December 15th;

Sales quantity: 5% of the total token supply (the sales quantity is 3% of the total token supply, and the additional reward quantity is 2% of the total token supply);

Sales Model: English auction with a valuation cap, specifically, a minimum valuation of $1 million FDV ($0.0001 per token) and a maximum valuation of $1 billion FDV ($0.1 per token), with a minimum price increment of $0.0001.

Unlocking status: All tokens will be unlocked during TGE (US users will unlock after one year of TGE). If you choose to lock your tokens, you will receive an additional 10% token reward.

Minimum investment amount: US$100.

Infinex launches IPO on the Sonar platform

Project Overview

Infinex is a decentralized finance (DeFi) platform launched in April 2024 by Synthetix founder Kain Warwick. The project aims to break down the boundaries between CeFi and DeFi, providing a seamless user experience similar to centralized exchanges while maintaining the non-custodial nature and security of decentralized services.

Participation Guidelines and Details

On November 27, Infinex, a new project created by Synthetix founder Kain Warwick, officially announced that it will soon conduct a TGE and plans to conduct a public offering on Sonar with a FDV of $300 million. It plans to sell 5% of the INX token supply, aiming to raise $15 million, and has chosen Sonar as its platform for the initial offering.

According to Infinex's official introduction, this public offering will have two participation paths: guaranteed allocation and lottery allocation. The guaranteed allocation is for users holding Patron NFTs in a liquid (unlocked) state, and the specific guarantee strategy is as follows:

1 Patron NFT: $2,000 quota;
5 Patron NFTs: $15,000 quota;
25 Patron NFTs: $100,000 quota;
100 Patron NFTs: $500,000 quota;

The allocation follows an additive mechanism. For example, if you hold 32 Patron NFTs in liquid state, your quota will be: 100,000 + 15,000 + 2,000 + 2,000 = $119,000.

The lottery allocation is open to all users, and anyone can apply to participate. The specific rules are as follows:

The minimum subscription amount is US$200, and the maximum subscription amount is US$5,000.

If the subscription quantity exceeds the subscription limit, the orders will be allocated by lottery;

Each order has an equal probability of being selected, and if selected, the subscription amount will be fully allocated.

Uncompleted orders will be automatically refunded.

It's worth noting that this public offering will have a one-year lock-up period, but it includes an early unlocking clause. The specific design for early unlocking is as follows:

At the time of TGE, if one chooses to unlock early, it will become a subscription at a price of $1 billion FDV;

During the one-year lock-up period, the price will linearly fall back to the initially set $300 million;

If the trading price of INX after listing is higher than the real-time early unlock price, some public offering participants may choose to unlock early, thus making the unlock curve smoother.

Fogo conducts IPOs on its own platform.

Project Overview

Fogo is a novel Layer 1 blockchain based on the Solana Virtual Machine (SVM). Its technical architecture aims to address the performance bottlenecks of existing blockchains, providing a more efficient and lower-cost transaction experience. Fogo has completed its seed and community funding rounds, raising a total of $13.5 million.

Participation Guidelines and Details

The token sale website is https://presale.fogo.io/. USDC transfers are now open, and users can pre-transfer USDC to their Foge wallets (transfer tutorial: https://community-docs.fogo.io/getting-started/transferring-to-fogo).

Event start date: December 17th;

Sales quantity: 2% of the total token supply;

Sales model: First come, first served; price unknown.

Unlocking status: All tokens will be unlocked during TGE (US users will unlock after one year of TGE). If you choose to lock your tokens, you will receive an additional 10% token reward.

Minimum investment amount: US$100.

Football.Fun participates in IPOs on the Legion platform and the Kraken exchange.

Project Overview

Football.Fun is a sports prediction market platform deployed on the Base network. On July 18, Football.Fun announced the completion of a $2 million seed round of financing, led by sports investment firm 6th Man Ventures (6MV), with other investors including Devmons, Zee Prime Capital, Sfermion, and The Operating Group.

Participation Guidelines and Details

On December 9th, Football.Fun announced that it will conduct a public token sale on the Legion platform and the Kraken exchange. Specific details have not yet been announced. Currently, KYC verification for both platforms can be completed using a passport.

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