Privacy-focused blockchain project Aztec Network announced on December 6 that it has successfully completed its public token sale, raising approximately USD 60 million worth of Ethereum (ETH). The sale, conducted over five days, attracted 16,741 participants and generated bids totaling 19,476 ETH.
LATEST: ? Privacy-focused Ethereum layer-2 Aztec Network has raised roughly $61 million in ETH through a community-first token sale, with the project saying half of the committed capital came directly from community members. pic.twitter.com/BecFnsYb8p
— CoinMarketCap (@CoinMarketCap) December 8, 2025
Founded in 2018, Aztec Network is a pioneering project in zero-knowledge proof (ZKP) technology and has been in development for seven years leading up to this public sale.
First-Ever “Continuous Clearing Auction” Aimed at Fairness
For this event, Aztec introduced an experimental model known as the Continuous Clearing Auction (CCA), powered by the newly upgraded Uniswap v4 protocol.
The CCA mechanism is designed to enable transparent, real-time price discovery while ensuring fair access for all participants. Traditional token sale models have often favored large investors or automated trading bots, creating disadvantages such as gas-fee bidding wars and rapid price manipulation.
Aztec Network says the CCA structure was created to avoid these issues, giving retail participants a more level playing field.
The auction began with a fully diluted valuation (FDV) of USD 350 million, but strong demand drove the final valuation to USD 557 million, significantly exceeding expectations.
Community-Driven Sale With No Airdrops or Preferential Allocations
Aztec did not conduct any airdrops or special allocations for this sale, emphasizing community fairness. On the first day alone, over 300,000 addresses registered for bidding, reflecting widespread demand for equal access.
Of the total funds raised, USD 26 million will be allocated as initial liquidity for Uniswap v4 pools. The Aztec Foundation plans to seed the pool with 273 million tokens to help establish a robust secondary market.
The Token Generation Event (TGE) is expected to be determined by an on-chain governance vote as early as February 11, 2026. If approved, 100% of the tokens sold in the auction will become transferable.
Aztec Network has previously secured backing from major venture capital firms, including a16z and Paradigm, and continues progressing toward its mainnet launch and expanded testnet operations.
