Zama's public auction scheme adopts a tiered pricing mechanism, with an opening bid starting at $55 million, reflecting a progressive price discovery design approach. From a market benchmarking perspective, a leading exchange's pre-market contract valuation has already reached $1.5 billion, and the prediction platform has also launched an opening valuation prediction feature, indicating substantial market attention to the project. The project team has deployed market liquidity across multiple trading scenarios, providing participants with relatively sufficient trading depth. Based on the auction mechanism design and market pricing, the expected returns for initial participants are approximately 50%, which is a relatively solid return level among contemporaneous projects. Additionally, the project has special allocation arrangements for large participants, and interested investors can assess participation timing based on their own risk preferences and capital scale.