蓝狐
蓝狐|12月 03, 2025 03:35
Seeing Zama's TGE mechanism, similar to the auction model used during Google's IPO, it is called a sealed bid Dutch auction. It sounds quite complicated, but it can actually be understood simply. Imagine you go to the market to buy apples, and the vendor (zama) wants to sell 100 apples of the same size. However, the vendor does not offer a price, but instead asks everyone to write a piece of paper (sealed, invisible to others) that says "How many apples do I want to buy and how much money am I willing to pay for each one. The vendor (Zama) collects all the notes and counts down from the highest bidder until 100 apples are sold out. Finally, set a 'unified price', which means the price offered by the last buyer. All bids above this price are considered successful, and any money paid above this price will be returned to the buyer. But if the bid is lower than this price, it will be fully refunded. The key here is that your "how many apples you want to buy" is tightly hidden (encrypted), and others only know your "how much each one costs" (public), so no one can steal your plan, and robots cannot steal it. Assuming three people come to buy these 100 apples, A bids 2 yuan for each and wants 40, paying 80 yuan; B offered 1 yuan per piece and wanted 60 pieces, but paid 60 yuan; C offers 0.5 yuan, wants 50, pays 25 yuan. According to the rules, count down from the highest bidder until 100 apples are sold out. Then, count from A to B. If exactly 100 apples are sold out, the price will be calculated based on the price offered by B, which is 1 yuan per apple. In this way, B bought 60 units at a bid of 1 yuan, and A's price was higher than the bid. Calculated at a unified price, A bought 40 units and received a refund of 40 yuan; And C received a full refund because it was lower than the unified price, and did not buy an apple. According to the above rules, what is a relatively better strategy for ordinary users? The primary principle is to bid according to the price you are truly willing to accept in your heart, which is a sincere bidding strategy. For example, determine the FDV based on your own valuation and then calculate how much each one costs. The specific strategy is to bid with multiple price gradients, and the quantity is completely encrypted, which means that everyone does not know when it will sell out, and if they do not know when it will sell out, they do not know the specific unified price that will ultimately be. Multi gradient pricing is highly likely to have the opportunity to participate; Another thing is to suppress common valuation anchors (such as 1/2/3 billion FDV...); Final time adjustment (based on market conditions).
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