Market Landscape and Token Sale Models
Multiple high-profile token sales are launching across major platforms including Sonar, CoinList, and Kraken, as well as project-owned platforms. These sales offer diverse models such as Dutch auctions, fixed-price sales, English auctions, and first-come, first-served rounds.
Privacy computing, FHE infrastructure, DeFi wallets, decentralized AI networks, and new Layer 1 ecosystems are leading this wave of public sales. These projects have strong backing from prominent investors such as a16z, Pantera, Multicoin, Finality Capital, and 6MV.
Unlock rules vary widely. Some projects offer full Token Generation Event (TGE) unlocks with optional staking bonuses, while others enforce one-year lockups with dynamic early unlock curves. This creates different risk profiles and entry strategies for participants.
Zama Token Sale on Its Own Platform
Project Introduction
Zama is a company focused on fully homomorphic encryption (FHE), which represents a significant advancement in privacy computing. The team has successfully completed two funding rounds, totaling one hundred and thirty million dollars. In March 2024, Zama raised seventy-three million dollars in its Series A, led by Multicoin Capital and Protocol Labs. Subsequently, in June 2025, Zama secured fifty-seven million dollars in its Series B, led by Blockchange Ventures and Pantera Capital.
Participation Guide
The auction will utilize a sealed-bid Dutch auction model. For detailed information on how sealed-bid Dutch auctions operate, users can consult the provided guide.
The auction is scheduled to run from January 12 to January 15, with token claims commencing on January 20.
Ten percent of the total token supply is allocated for the public sale. Eight percent will be distributed through the auction, and an additional two percent will be available for purchase afterward at a fixed price, with a maximum purchase limit of ten thousand dollars per individual.
Tokens purchased during the auction will be fully unlocked.
Octra Token Sale on Sonar
Project Introduction
Octra is a Layer 1 project operating within the privacy sector, supporting an FHE-enabled blockchain with isolated execution environments. Early investors collectively hold eighteen percent of the tokens, while Octra Labs holds fifteen percent. The remaining sixty-seven percent is designated for the community, encompassing early users, validators, ecosystem grants, Echo participants, and this public sale. Importantly, no single investor possesses more than three percent of the total supply.
In September 2024, Octra successfully raised four million dollars in a pre-seed round led by Finality Capital, with participation from Big Brain Holdings, Karatage, Presto, and Builder Capital.
Participation Guide
Octra's public sale will be conducted on Sonar, an entity founded by Echo and recently acquired by Coinbase.
The official platform account is available at https://x.com/echodotxyz. While the specific sale page has not yet been published, account registration is currently open.
The sale is set to begin on December 18.
Ten percent of the total supply will be allocated for the sale. The project team has indicated that this allocation may be increased if demand is particularly strong.
The sale will be conducted at a fixed price of $0.20 per token. The target raise is twenty million dollars, implying a fully diluted valuation (FDV) of two hundred million dollars.
Token unlock details have not yet been announced.
Rainbow Token Sale on CoinList
Project Introduction
Rainbow is a Web3 wallet designed to simplify asset exploration and management through an intuitive, secure, and user-friendly interface. It offers support for NFT collections, DeFi connections, and cross-chain bridges. Rainbow prioritizes a fun, easy, and safe user experience, aiming to be a Web3 equivalent of Robinhood, thereby lowering the barrier to entry for new users. The wallet integrates ENS support and is available on both mobile and desktop platforms.
Rainbow has successfully raised nearly twenty million dollars to date.
Participation Guide
Rainbow will conduct its public token sale on the CoinList platform.
The sale is scheduled to commence on December 12 at 1:00 AM Beijing time.
Three percent of the total supply, equivalent to thirty million RNBW tokens, will be offered in the sale.
The sale will be conducted at a fixed price of $0.10 per token.
All tokens will be unlocked at the TGE, with the exception of United States users, whose tokens will unlock after one year.
The minimum investment amount is one hundred dollars.
Gensyn Token Sale on Its Own Platform
Project Introduction
Gensyn is an open network designed for decentralized artificial intelligence systems. In March 2022, Gensyn raised six point five million dollars in a seed round led by Eden Block. Subsequently, in June 2023, Gensyn secured forty-three million dollars in a Series A round, led by a16z.
Participation Guide
The sale page is accessible at https://token.gensyn.network/.
The sale is scheduled to begin on December 15.
Five percent of the total supply will be allocated for the sale. Three percent will be sold directly, and an additional two percent will be provided as extra rewards.
The sale model is an English auction with a valuation cap. The FDV floor is set at one million dollars, corresponding to a token price of $0.0001. The FDV cap is one billion dollars, with a token price of $0.10. The minimum bid increment is $0.0001.
All tokens will be fully unlocked at TGE. United States users will have their tokens unlock after one year. Participants have the option to receive an extra ten percent token bonus by choosing to lock their tokens.
The minimum investment amount is one hundred dollars.
Infinex Token Sale on Sonar
Project Introduction
Infinex was launched in April 2024 by Synthetix founder Kain Warwick. Its primary objective is to bridge the gap between centralized and decentralized finance. The platform is engineered to offer a user experience comparable to a centralized exchange while maintaining non-custodial and secure services.
Participation Guide
On November 27, Infinex announced its TGE and a public sale on Sonar, targeting an FDV of three hundred million dollars. The sale allocates five percent of the INX supply and aims to raise fifteen million dollars.
There are two participation paths available: guaranteed allocation and lottery allocation.
Guaranteed allocation is exclusively for users holding unlocked Patron NFTs. The allocation tiers are as follows:
- •One NFT grants a $2,000 allocation.
- •Five NFTs grant a $15,000 allocation.
- •Twenty-five NFTs grant a $100,000 allocation.
- •One hundred NFTs grant a $500,000 allocation.
Allocation is cumulative. For instance, holding thirty-two NFTs would result in a total allocation of $100,000 + $15,000 + $2,000 + $2,000 = $119,000.
Lottery allocation is open to all users.
The minimum subscription amount is two hundred dollars, with a maximum of five thousand dollars. If the total subscription exceeds the allocated limit, the final distribution will be determined by a lottery, where each order has an equal probability of being selected for the full allocation. Unfilled orders will be automatically refunded.
All tokens are locked for one year, but an early unlock option is available. The early unlock price is based on a one billion dollar FDV at TGE. Throughout the one-year lock period, the unlock price decreases linearly, reaching the initial three hundred million dollar FDV. If the market price exceeds the unlock price, some users may opt for early unlock, which effectively smooths the unlocking curve.
Fogo Token Sale on Its Own Platform
Project Introduction
Fogo is a Layer 1 blockchain built on the Solana Virtual Machine. Its objective is to address the performance bottlenecks of existing blockchain networks and provide efficient, low-cost transactions. Fogo has successfully completed its seed and community rounds, raising a total of thirteen point five million dollars.
Participation Guide
The sale page is located at https://presale.fogo.io/. USDC deposits are currently open, allowing users to transfer USDC to their Fogo wallet in advance.
The sale is scheduled to commence on December 17.
Two percent of the total token supply will be allocated for the sale.
The sale model will be first-come, first-served. The price has not yet been announced.
All tokens will be fully unlocked at TGE. United States users will have their tokens unlock after one year. Participants have the option to lock tokens to receive a ten percent bonus.
The minimum investment amount is one hundred dollars.
Football Fun Token Sale on Legion and Kraken
Project Introduction
Football Fun is a sports prediction platform built on the Base blockchain. On July 18, Football Fun raised two million dollars in a seed round led by 6MV, with participation from Devmons, Zee Prime Capital, Sfermion, and The Operating Group.
Participation Guide
On December 9, Football Fun announced a public token sale on Legion and Kraken. Detailed rules for the sale have not yet been published. Users can currently complete KYC verification on both platforms using a passport.