Blast Ecosystem Token Issuance Protocol ZAP is about to complete $15.1 million in financing, with a valuation of $100 million
Odaily Odaily News Blast Ecological Token Issuance Protocol ZAP announced that it is about to complete $15.1 million in financing. Francis, the anonymous founder and CEO of the project, said that the funds were raised in three rounds-a $900,000 seed round in December 2023, a $2.1 million private round in June 2024, and $12.1 million in the ongoing "treasury sale". Francis mentioned that the structure of the seed round and the private round is a simple agreement for future tokens (SAFT). As for the treasury sale, it is like a node sale that can provide buyers with liquidity and other benefits of the yet-to-be-launched ZAP token, such as token airdrops from other ecosystem projects. (TheBlock) Francis said: "When we do the token generation event in the next few months, the vault sales will end. If all the vaults are sold out, we will eventually raise a total of $50 million." Investors in ZAP's seed and private rounds include Rarestone Capital, Cypher Capital, Sharding Capital, Luca Netz of Pudgy Penguins, Larry Cermak of The Block, and Chelsea Jiang of Foresight Ventures. Francis said that ZAP was valued at $15 million during the seed round, and then increased to $30 million during the private token round. The current valuation is about $100 million.
