Supply Progress
ZAP doesn't release all auction tokens the moment bidding opens. Instead, tokens are unlocked gradually over the course of the auction according to a fixed schedule. This is one of the core mechanisms that keeps the auction fair, predictable, and resistant to manipulation.
Tokens unlock on a schedule
Think of it like a faucet that drips at a steady (or varying) rate rather than pouring all at once. Every block that passes, a defined fraction of the total token supply becomes available for purchase.
This schedule is fixed at deployment and cannot be changed once the auction starts. It is fully visible on-chain before you ever place a bid.
Why a schedule?
Prevents a first-block sweep. Without a schedule, a single whale could arrive at block 1 and buy every token before anyone else gets a chance.
Rewards sustained participation. Bidders who stay in the auction throughout earn a proportional share of every batch of tokens that unlocks while their bid is active.
Creates a fair distribution curve. Supply is spread across time, so every participant — early or late — can compete for meaningful allocations.
Front-loaded emission
Many ZAP auctions use a front-loaded emission curve: more tokens are unlocked in the first half of the auction than in the second half.
For example, an auction might release:
60% of the token supply during the first half of its duration
40% during the second half
This rewards early participants who take on more uncertainty (joining before the market has formed a consensus price), while still leaving a meaningful share for later arrivals.
Reading the Supply Progress bar
The supply progress indicator on the auction page shows two layers:
Unlocked (total released)
Tokens that have been made available for purchase so far, based on elapsed time
Sold (tokens with buyers)
Tokens that have been matched to paying bidders at the clearing price
The gap between the two — unlocked but not yet sold — represents tokens that are available but not yet absorbed by current demand. As the clearing price adjusts and demand grows, this gap typically closes.
Can tokens "run out" before the auction ends?
Yes — in high-demand auctions, demand can outpace the emission schedule, meaning the unlocked supply is fully absorbed by bidders as fast as it drips out. In lower-demand scenarios, unlocked tokens accumulate ahead of confirmed sales.
In either case, the auction runs to its scheduled end block. There is no early termination for selling out.
Unsold tokens
Any tokens that were unlocked but not purchased by the time the auction ends are returned to the token treasury. This does not affect your allocation — you receive exactly what your bids earned.
Next: Minimum Funding — how the soft cap protects bidders from participating in an unsuccessful launch.
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