Aztec sale revolutionizes the market: a complete analysis of its token sale and distribution strategy

Aztec Privacy Project Finally Launches to the Market

After years of development, Aztec has decided to open its doors to the public with an innovative sale mechanism. November 13 marks the beginning of a new era for this zero-knowledge protocol, which has remained off the radar of airdrops despite its trajectory in the crypto space.

The History of Aztec: From Promise to Reality

Aztec’s journey began in 2018 with a seed round of $2.1 million. Over the years, the project has attracted elite investors such as Paradigm and a16z, raising $17 million in Series A (December 2021) and $100 million in Series B (December 2022), with the support of Ethereum co-founder Vitalik Buterin. However, this formidable institutional backing did not translate into user traction.

The turning point came in March 2023, when Aztec discontinued its DeFi privacy bridge, Aztec Connect, citing commercial reasons. The project repositioned itself, launching its public testnet in May 2025, which temporarily captured the attention of airdrop hunters.

Aztec Public Sale Structure

The AZTEC tokens sale presents a different approach to the market. With 1.547 billion tokens available (14.95% of the total supply), the project aims to optimize the discovery of fair prices.

Participation Schedule:

• November 13 (15:00 CET): Opening of registration for early participants
• December 1: Distribution to genesis contributors
• December 2 to 6, 2025: Full public auction

Access has been democratized with over 300,000 addresses on the whitelist, including Sequencer operators and Testnet Verifiers, ETH stakers, zk.money users, active Uniswap traders, and community members.

Price Discovery Mechanism: Uniswap’s CCA Protocol

Aztec uses the Continuous Settlement Agreement Protocol (CCA) developed jointly with Uniswap for its v4. This mechanism allows bidders to place orders that are settled at the discovered market price during the auction period. Aztec’s ZK Passport module ensures private and verifiable participation.

The initial reference price is set at $350 million FDV, approximately 75% lower than the implied valuation derived from its last funding round.

Tokenomics: Distribution and Utility of AZTEC Token

The total genesis supply reaches 10.35 billion tokens, strategically distributed:

Main Allocation:

• 27.26% to early investors and sponsors
• 21.06% to the core team
• 21.96% reserved for public sales (2.2725 billion tokens)
• 11.71% to the Foundation
• 10.73% to ecosystem grants
• 4.89% for future incentives
• 2.64% to Uniswap V4 liquidity pool
• 2.41% to network rewards for the first year
• Smaller allocations for additional sales and other purposes

AZTEC Token Functions:

• Sequencer Staking: Holders can secure the network by delegating tokens to operators responsible for block production
• Governance: Direct participation in strategic decisions of the Aztec protocol
• Transaction Fees: If the protocol enables smart contract execution environments, tokens will cover network costs via a system similar to EIP-1559

Post-Sale Liquidity and Future of the Token

The Foundation will inject 273 million tokens into the Uniswap v4 pool, which will remain locked for 90 days after launch. Afterwards, Aztec governance will determine its release. The protocol also contemplates listing tokens on other DEXs and centralized exchanges.

Starting 12 months post-sale, Aztec governance can adjust annual emissions within predefined limits, maintaining economic flexibility for the project’s maturation.

Current Market Outlook for Aztec

With Bitcoin falling below $100,000 and emerging bearish signals, the real test for Aztec begins now. After seven years of development and multiple strategic pivots, the project faces a cautious market. The absence of an airdrop and its fair sale mechanism could attract genuine participants, but it remains to be seen whether the market truly values privacy in zero-knowledge as Aztec proposes.