ZAP secures $15M to build reputation-based token distribution protocol

ZAP, a reputation-based token distribution protocol, announced a successful raise of $15 million in a funding round led by Rarestone Capital, Cypher Capital, and Sharding Capital.

The funding round also saw participation from Auros Global, Presto Labs, and notable angel investors such as Larry Cermak, Chelsea Jiang, and Luca Netz, alongside key figures from LayerZero.

This investment marks a significant step for ZAP as it continues to innovate in the blockchain space.

Aiming for fair and meritocratic token distribution

ZAP is designed to validate user contributions to ensure fair and meritocratic rewards, allowing projects to build and grow their communities sustainably.

The protocol includes a suite of products such as a questing and airdrops protocol, a no-code token launcher, and a curated launchpad offering access to VC-backed projects.

These tools are supported by ZAP’s questing and reputation system, Mission Control, which ensures fair and community-driven access to token distributions.

Earlier this year, ZAP raised $11 million through a “Vault Sale,” using a model similar to the Node sales employed by XAI and Aethir.

The recent partnership with analytics platform Nansen is expected to enhance ZAP’s offerings by providing advanced, data-driven insights into on-chain users, optimizing their questing and airdrops protocols.

Expansion plans and new initiatives

With the new funding, ZAP plans to expand its platform and develop new features to better serve its community and the broader blockchain ecosystem.

The company aims to grow into new geographic locations and broaden its reach across different blockchain ecosystems, starting with Base in July.

ZAP’s developments focus on democratizing access to early-stage investments and ensuring that all participants can engage on a level playing field.

Carlo, Product Lead at ZAP, expressed enthusiasm about the support received:

It’s great to be backed not just by industry titans but also have such overwhelming support from the community. Their support validates our vision of a more inclusive and fair token distribution ecosystem. With this funding, we will further enhance our platform and expand our suite of products to better serve our community and the broader blockchain space.

Ongoing engagement with the Blast ecosystem

In addition to securing new funding, ZAP has launched the Blast Gigadrops Campaign to foster greater user engagement within the Blast ecosystem.

Running from May 27 and still ongoing, the campaign introduces a chapter-based airdrop system that rewards users for their social and on-chain interactions with over 20 leading Blast protocols and decentralized applications (dApps).

The prize pool for the campaign is nearing $1 million and includes collaborations with major partners such as Thruster, Particle, and MetaStreet.

The Blast Gigadrops Campaign aims to increase user interaction and engagement, thereby strengthening the Blast ecosystem.

This initiative reflects ZAP’s commitment to building a vibrant and active community around its platform.

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