Currently, the actual circulating tokens of zama in the market are quite limited. Around 70% of the circulating supply on the market (approximately 2.51 billion) is locked in staking, roughly 1.7–1.8 billion tokens. The total staked tokens on-chain amount to approximately 2.26–2.28 billion (the extra 400–500 million mainly comes from treasury/Growth reserves that are not included in circulation). Based on the circulating supply of about 2.51 billion, subtracting the 1.7–1.8 billion staked tokens leaves around 700–800 million on the market side. After deducting cZAMA, which accounts for roughly 100–160 million, the remaining tokens available for sale are approximately 600–700 million.