Blast Ecosystem Token Issuance Protocol ZAP is about to complete $15.1 million in financing, with a valuation of $100 million

Blast Ecosystem Token Issuance Protocol ZAP announced that it is about to complete $15.1 million in financing. Francis, the anonymous founder and CEO of the project, said that the funds were raised in three rounds - a $900,000 seed round in December 2023, a $2.1 million private round in June 2024, and $12.1 million in the ongoing "treasury sale". Francis mentioned that the structure of the seed round and the private round is a simple agreement for future tokens (SAFT). As for the treasury sale, it is like a node sale that can provide buyers with liquidity and other benefits of the yet-to-be-launched ZAP token, such as token airdrops from other ecosystem projects. (TheBlock) “When we do our token generation event in the coming months, the vault sales will end. If all vaults are sold out, we will end up raising a total of $50 million,” Francis said. Investors in ZAP’s seed and private rounds include Rarestone Capital, Cypher Capital, Sharding Capital, Luca Netz of Pudgy Penguins, Larry Cermak of The Block, and Chelsea Jiang of Foresight Ventures. Francis said ZAP was valued at $15 million during its seed round, then increased to $30 million during its private token round, and is currently valued at around $100 million.