What is the current price of Zama?
The current price of Zama is $0.08809 with a 3.06% change in the last 24 hours.
Zama is a confidentiality protocol that lets smart contracts compute on encrypted data using fully homomorphic encryption, so amounts and balances can stay hidden while transactions still settle publicly and verifiably. The project positions itself as "the HTTPS moment for public blockchains," adding a confidentiality layer to existing networks rather than asking developers to move to a separate privacy chain. Developers write Solidity as usual, using encrypted types provided by the FHEVM library, and the heavy cryptography is executed off-chain by a network of coprocessors. ZAMA is the protocol's token, used to pay protocol and operator fees and to stake as an operator.
Official resources:
Zama was founded in 2020 by Dr. Rand Hindi, who serves as CEO, and Dr. Pascal Paillier, who serves as CTO. Paillier is a career cryptography researcher in homomorphic encryption, and the company describes itself as running the largest research team in the field. Zama is a French open source cryptography company and spent its early years building FHE libraries rather than a blockchain, publishing tools such as TFHE-rs, Concrete and Concrete ML that made FHE usable without deep cryptography expertise.
In March 2024 Zama announced a $73 million Series A led by Multicoin Capital and Protocol Labs, with Metaplanet, Blockchange Ventures, VSquared and Stake Capital participating, along with angel investors including Juan Benet, Anatoly Yakovenko and Gavin Wood. In June 2025 it announced a $57 million Series B co-led by Blockchange Ventures and Pantera Capital, bringing total funding above $150 million at a valuation above $1 billion.
The Zama Protocol mainnet went live on Ethereum in December 2025. The token was distributed through an on-chain sealed-bid auction run with CoinList from January 21 to 24, 2026, in which bids themselves were encrypted using Zama's own FHE technology. The auction allocated 880 million tokens, 8% of an 11 billion total supply, against a $55 million valuation floor across the full 11 billion supply. ZAMA began trading in February 2026.
A developer deploys a normal contract on a supported chain and uses the FHEVM Library, which provides encrypted data types such as euint8 through euint256, ebool, ebytes and eaddress. The contract does not perform the encryption math itself. Instead, an FHEVM Executor contract emits events describing the requested operation.
A network of coprocessors picks those events up and performs the actual FHE computation off-chain. They verify encrypted user inputs, execute the operation, store the resulting ciphertexts and report access control events back. Multiple coprocessors run each job and agree by majority, and the litepaper notes that the work is "publicly verifiable, allowing anyone to recompute the result."
Decryption is deliberately never in one party's hands. A Key Management Service (KMS) distributes key material across 13 nodes using threshold cryptography with a two-thirds majority rule, and the litepaper states that "All KMS nodes must run the MPC software inside AWS Nitro Enclaves." Coordination runs through a Gateway deployed on a dedicated Arbitrum rollup.
Who may decrypt what is governed by an on-chain Access Control List. Applications can define their own rules for who sees which value, which the documentation describes as "programmable compliance." A confidential token, for example, stores balances as encrypted euint64 values, verifies transfer amounts with zero-knowledge proofs, executes transfers through encrypted comparisons, and grants the holder rights to view their own balance while the contract can still update it.
ZAMA pays for three protocol functions: zero-knowledge proof verification, decryption, and cross-chain bridging of encrypted values. Fees are priced in US dollar terms through an oracle so that token volatility does not distort costs, and the litepaper states that fees are burnt. Developers can subscribe for discounts of up to 99% on those fees, which matters because per-operation pricing would otherwise make consumer applications impractical.
The protocol runs delegated proof of stake with 18 genesis operators: 5 FHE coprocessors and 13 KMS nodes, selected on reputation and operational experience. Permissionless entry later requires staking 0.5% of circulating supply. Operators are compensated through 5% annual inflation, adjustable by governance. Rewards are split by role and then distributed pro rata to the square root of each operator's stake, a deliberate anti-concentration design. Delegators receive a liquid token representing their share. Protocol upgrades require majority operator approval, and the litepaper states that "Slashing is done via governance," meaning misbehavior is punished by decision rather than automatically.
Of the 11 billion total supply, 20% was circulating at mainnet launch. Treasury tokens vest over two years, and team, venture and angel allocations over four years with one-year cliffs.
Most confidentiality projects ask you to move. Zama's design keeps state and settlement on the host chain and outsources only the encrypted computation, so a confidential application composes with the rest of that chain's ecosystem instead of living in an island. The other genuinely unusual property is verifiability: because multiple coprocessors run the same job and anyone can recompute the result, confidentiality does not require trusting a single operator's honest execution. Zama also used its own technology in production to run its token auction with encrypted bids, which is a rare case of a project dogfooding its core primitive at launch.
Aztec and Aleo use zero-knowledge proofs, which are excellent at proving a statement about private data but harder to use when several parties need to compute jointly over shared encrypted state. Oasis relies substantially on trusted execution environments. Nillion uses multi-party computation as its primary primitive. Midnight builds a dedicated privacy sidechain. Zama's bet is on FHE as the primitive that preserves composability, since encrypted values can be operated on by contracts that never decrypt them. The cost of that choice is computational: FHE is far heavier than plaintext execution, which is precisely why the architecture pushes the work to specialized coprocessors.
Security rests on several independent layers. Decryption keys are never held whole: the KMS splits them across 13 nodes requiring a two-thirds threshold, and all nodes must run the MPC software inside hardware enclaves, which prevents any single operator, including its own host, from extracting key material. Computation correctness is enforced by running each job across multiple coprocessors with majority agreement and by making results publicly recomputable. Access to plaintext is gated by on-chain ACL contracts rather than by application convention. Operators stake ZAMA and can be slashed through governance. All of this sits on top of the host chain, so settlement inherits Ethereum's security.
Public blockchains made every balance and every transfer visible to everyone, which is fine for a hobby and disqualifying for a payroll, a treasury or a trading desk. Zama is the most advanced production attempt to fix that without giving up composability, and the December 2025 Ethereum deployment is credibly the first production-scale use of fully homomorphic encryption on a major public chain. If encrypted state becomes a normal building block rather than a specialty, most of the institutional objections to public blockchains lose their force.
ZAMA has been listed on major centralized exchanges including Binance and Coinbase since it began trading in February 2026. On-chain, the token exists on Ethereum, BNB Chain, Solana and the Zama Gateway mainnet, so it can be swapped on decentralized exchanges native to each of those networks. Because the same asset exists in several places, confirm you are trading the deployment on the network you intend to hold it on.
The Ethereum deployment is a standard ERC-20 token supported by any Ethereum wallet, including hardware wallets, which are the right choice for long-term holdings. The BNB Chain version is BEP-20 and the Solana version is an SPL token, each requiring a wallet for that network. Never send one deployment to an address on a different network. If you intend to delegate stake to protocol operators, you will need self-custody and to interact with the Zama App, since delegation and its liquid staking representation are not available through exchange custody.
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Read the complete paper trading guideThe current price of Zama is $0.08809 with a 3.06% change in the last 24 hours.
The daily trading volume is $90,113,164 representing a 11.81% change in the past 24 hours.
The market capitalization of Zama is $219,526,548, ranking #145 globally.
The fully diluted valuation (FDV) of Zama is $995,759,591, calculated assuming the total supply of 11,304,428,717 ZAMA is in circulation.
Circulating: 2,492,190,121. Total: 11,304,428,717. Max: N/A.
In the last 24 hours, Zama traded between a low of $0.07867 and a high of $0.09530.
ZAMA/USDTTether USDT0.08809 USDT
Zama has launched its native token, $ZAMA, on Revolut across the EEA in order to bring blockchain privacy powered by FHE to millions of users.
Zama has listed its native ZAMA token on Revolut across the European Economic Area, giving the privacy-focused blockchain project access to a fintech platform serving more than 70 million customers. Zama said on Monday that the listing also puts ZAMA…
Zama listed its ZAMA token on Revolut across the EEA, opening the privacy protocol to the fintech's 70 million-plus customers.
Rand Hindi said the fully homomorphic encryption benchmark is not yet live on mainnet, with activation planned for end of year.
What is Zama? A guide to the ZAMA token and fully homomorphic encryption: how FHE works, the burn-and-mint model, the founders, risks and FAQs.
Paris, France, 21st July 2026, Chainwire
