ZAP Secures $15M to Develop Reputation-Based Token Distribution Protocol

Saint Vincent, Grenadines, July 25th, 2024

ZAP, a token distribution protocol focused on reputation, has announced a successful fundraising round that garnered $15 million. This round was led by Rarestone Capital, Cypher Capital, and Sharding Capital, with participation from Auros Global, Presto Labs, and notable angel investors including Larry Cermak, Chelsea Jiang, and Luca Netz, alongside prominent figures from LayerZero.

ZAP aims to create a community-oriented token distribution process that recognizes user contributions, promoting equitable and merit-based rewards. Through its innovative approach, ZAP provides tools such as a questing and airdrops protocol, a no-code token launcher, and a curated launchpad for access to venture capital-backed projects. These offerings are further enhanced by Mission Control, ZAP’s dedicated questing and reputation system, which prioritizes fairness and community engagement in token distributions.

Earlier this year, ZAP raised $11 million in a "Vault Sale," modeled after the Node sales popularized by other projects. In a further step to enhance its capabilities, ZAP recently formed a partnership with analytics platform Nansen to deepen its data insights into on-chain user behavior, thereby optimizing its questing and airdrop protocols.

“It’s fantastic to not only receive backing from industry leaders but also to witness substantial support from the community,” stated Carlo, Product Lead at ZAP. “This endorsement underscores our commitment to creating a more inclusive and equitable token distribution landscape. With this investment, we plan to enhance our platform and expand our product offerings for our community and the larger blockchain ecosystem.”

ZAP is poised to innovate further by adding new features, exploring new geographic markets, and extending its services to various blockchain ecosystems, starting with Base this July. The project’s initiatives are geared toward democratizing access to early-stage investments, ensuring that every participant can enter the space on equal footing.

In line with its funding achievements, ZAP has launched the Blast Gigadrops Campaign to boost user engagement within the Blast ecosystem. This ongoing initiative, which commenced on May 27, employs a chapter-based airdrop strategy to reward users for social and on-chain interactions with over 20 leading Blast protocols and decentralized applications. The campaign features a prize pool nearing $1 million, in collaboration with key partners such as Thruster, Particle, and MetaStreet, among others.

About ZAP

ZAP is a community-focused token launch protocol addressing the prevalent challenges in the token launch landscape, delivering value to both founders and investors. It employs a merit-based model to ensure that all investors have equitable opportunities to engage.

For inquiries, please contact Xiao at [email protected].