TL;DR
- Aztec Network launches token sale using a novel auction system.
- The auction offers a seventy-five percent discount on valuation.
- It uses zero-knowledge proofs for private compliance verification.
Aztec Network, a privacy-focused Layer 2 network built on Ethereum, announced it will conduct its token sale using the Continuous Clearing Auction (CCA) system developed by Uniswap Labs, with Aztec as a core contributor. Registration opened Thursday at 10 a.m. EST, with public bidding running from December 2 to December 6, 2025.
The auction starts at a fully diluted valuation (FDV) of $350 million, representing a 75% discount from Aztec Labs’ last funding round. Participation limits are set per user to prevent large investors from dominating the sale. According to project leaders, Aztec is the first protocol to implement CCA, enabling real-time bids through on-chain smart contracts, with open and transparent access for any participant.
Privacy and Fairness Drive Aztec’s New Offering
The initiative responds to growing concerns in DeFi about privacy and the security of personal data. Recent incidents, such as the Balancer hack, and the rise of projects like Zcash, have highlighted the need for systems that protect user information while maintaining transparency and fairness in token sales.
Joe Andrews, co-founder and president of Aztec Labs, stated that CCA redefines fair access in crypto, removing special deals and hidden allocations. “Now we have a permissionless and non-custodial system on Ethereum that is transparent, fair, and immutable,” he explained.
The sale will also use zero-knowledge proofs through ZkPassport’s Noir circuits, allowing compliant sanctions checks without exposing sensitive passport data in centralized databases. Participants can verify their eligibility and mint a soulbound NFT confirming their right to bid before the auction begins.
Aztec officially launched its public testnet on May 1, offering what the team describes as the first fully programmable privacy solution on blockchain. The company completed a $100 million Series B funding round led by a16z, reinforcing its ability to build infrastructures that combine privacy and transparency.
With this strategy, Aztec Network aims to set a standard in token sales, combining equitable access, security, and programmable privacy, marking a key step in the evolution of DeFi on Ethereum.
