Key Points:
- ZAP secures $15.1 million across seed, private, and ongoing vault rounds.
- Notable investors include Rarestone Capital, Cypher Capital, and others.
- Valued at $15 million initially, now eyeing a $100 million valuation post-funding.
The ZAP token protocol operating on the Ethereum Layer 2 network Blast has raised $15.1 million in three recent rounds.
Per Francis, the pseudonymous founder and CEO of ZAP, this includes a $900,000 seed round in December, a $2.1 million private round last month, and an ongoing “vault sale” currently amounting to $12.1 million.
The seed and private rounds were conducted with simple agreements for future tokens to provide early support for the development. On the other hand, according to Francis, the vault sale—the node sale—leaves room for stream earning daily in as-of-yet-launched ZAP token protocol, among other perks like token airdrops from partner ecosystem projects.
Read more: Crypto Prime Brokerage Hidden Road Partners Targets New Funding Round Of $120 Million.
ZAP Token Protocols Journey to a $100 Million Valuation
Francis highlighted that this vault sale will close off completely with the ZAP token protocol generation event, which is expected in the coming months. “If all vaults sell out, we will have raised $50 million,” he said.
The valuation for the ZAP token protocol has appreciated bountifully, from $15 million during the seed round to surging at $30 million in the private token round. It is now estimated to be around $100 million in the ongoing vault sale. “Our implied fully diluted token valuation is now around $100 million,” Francis confirmed.
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