10,350,000,000 tokens

1,547,000,000 tokens (14.95% of total supply)

Ethereum Mainnet

Ethereum (ETH)

Continuous Clearing Auction

$0.0338 ($350 million FDV)

200,000 tokens are required to stake (no fractional staking supported)

90 days from end of auction, subject to governance approval

The auction clears every Ethereum block at the following supply schedule:

Registration Begins: All tracks can complete a sanctions check and mint the NFT to register for the sale.

Early Bidding: Contributor and Genesis tracks who minted an NFT can now bid in the auction.

Early Clearing: $AZTEC tokens start to be distributed to successful Contributor and Genesis bidders.

Public Auction is Open: All NFT holders can bid in the auction.

Auction Concludes: No more bids as the auction is over.

Token Withdrawals: $AZTEC tokens purchased in the auction can now be withdrawn and staked.

The goal of the token sale is two fold:

To decentralize the ownership and control of the network, enabling its launch.

To empower the foundation to fulfill its non-profit mandate:

The sale utilizes Uniswap Labs’ newly launched Continuous Clearing Auction (CCA) protocol, developed with Aztec as a core contributor. The auction mechanics are designed to allow for fair price discovery that gives everyone a chance to participate. The auction runs over the course of several days, with tokens clearing every 3 minutes so you can see the performance of your bids in near real-time. Early participants typically receive better pricing.

Only Genesis Sequencers may participate in the sale, which is a fixed amount of tokens at a predetermined lower valuation. Genesis Sequencers are whitelisted node operators with outstanding performance in Aztec's adversarial testnet. All tokens purchased are locked for a minimum of one year.

Genesis Sequencers may begin purchasing tokens at the fixed price on November 13th. The fixed price sale closes on December 1 before the general public can bid in the auction.

Each participant who passes compliance checks may purchase up to 10,000,000 tokens each. The auction runs for 5 days. Early bidding starts on November 13th, and is available to whitelisted contributors and community members. The public auction launches on Dec 2nd.

Contributors are engaged ecosystem & community members who are able to bid early and have access to an extra allocation of tokens before the public sale.

Qualification: Select contributors who have participated in one or more of the following:

Access: Can place pre-bids in the auction starting November 13th and have access to an extra allocation of tokens before the public sale.

Up to 200 highly qualified node operators with outstanding performance on Aztec’s testnet. Can place pre-bids in the auction starting November 13th.

Registration is open to anyone with an Ethereum account. Register today, to start bidding on December 2nd (2pm UTC).

The Aztec token is an ERC-20 and the auction will take place on Ethereum mainnet, meaning transparency in regards to auction bids, clearing prices, and participating EOA addresses. Participants will be able to access the auction via a dedicated website hosted by the Aztec Foundation. You’ll need a compatible Ethereum wallet with sufficient ETH to cover your bid amount and network gas fees.

You can place as many bids as you would like.

Once your bids are placed, you will not be able to withdraw them. If your bid is not filled, the unspent ETH will be returned to your wallet at the conclusion of the auction.

Bids can only be placed in ETH on Ethereum mainnet.

Yes, you must purchase 200,000 tokens to stake your $AZTEC. Fractional staking amounts are not supported at this time.

The clearing price depends entirely on aggregate demand during the auction. Once demand surpasses the level required to clear the available token supply, the clearing price will rise. Participants who bid earlier are more likely to receive allocations at lower prices.

If you set a maximum FDV when placing your bid and the clearing price exceeds that cap on Day 1, your bid will not clear and you will receive no tokens.

If your price cap is exceeded later – for example, on Day 4 – your bid will clear for Days 1, 2, and 3, but not thereafter.

To continue participating beyond that point, you would need to submit a new bid with a maximum FDV at or above the most recent clearing price.

On the auction page, your bids will be displayed along with % of your bid that has cleared and how many Aztec tokens you have purchased so far in the auction.

Note that you cannot cancel or modify a bid that is still “Active” or “In-Range” due to how the auction mechanism is built.

Tokens are locked in an onchain contract referred to as “Token Vault” on Ethereum mainnet. The token itself is an ERC20 on Ethereum mainnet.

All tokens sold through the auction will be held in Token Vaults with a minimum 90 day lockup, subject to governance vote.