Zama is about to launch a public auction, and this fundraising method is quite unique. According to the plan, 10% of the total token supply will be released through a Dutch Auction on the Ethereum network. The most interesting part is that the entire bidding process is completely private. All participants' bid information is encrypted using Zama Protocol and FHE (Fully Homomorphic Encryption) technology, ensuring that the bidding data is completely invisible to external observers. In other words, no one can see how much you bid or what others are bidding. This design not only protects participant privacy but also makes the auction process more fair and transparent—because no one can adjust their strategy by peeking at others' bids. This demonstrates Zama's technical strength in the field of privacy computing and also introduces new ideas for encrypted fundraising models.