Zug, Switzerland, March 24th, 2026, Chainwire
Igra Labs has announced the launch of ZAP (Zealous Auctions Protocol), a public auction for the IGRA governance and security token. The auction takes place on Igra Network on March 26, 2026 and is open to all participants holding iKAS on the network.
The mechanism was designed to address structural failures in conventional token launches. Fixed-price sales create priority races that favor bots over people. Dutch auctions reward professional timing over genuine valuation. One-shot auctions invite last-minute sniping and demand suppression. Continuous clearing eliminates these dynamics by distributing tokens gradually over the auction period and determining price through sustained demand rather than speed.
Participants submit bids specifying a maximum price and total budget. Each block, the protocol determines a single market-clearing price: the highest price at which all tokens allocated for that block can be sold. Every participant filling in a given block pays that same clearing price, following uniform-price auction logic. Bids with higher maximum prices fill first, with remaining supply at the clearing price distributed pro-rata.
Early participation carries a structural advantage. Because bids are automatically spread across remaining auction blocks, earlier bids gain greater exposure to blocks where clearing prices are lower, producing more favorable average pricing. The mechanism rewards conviction and valuation over transaction speed.
3.5 percent of the total IGRA supply is allocated to the public sale, with a floor price of $0.006 per token. Tokens carry no lockup cliff or vesting schedule and are immediately available after claiming them from the auction. Auction proceeds will seed initial on-chain liquidity for secondary trading.
IGRA serves as both the security and governance token for Igra Network. Attesters stake IGRA to validate network execution state and earn a share of Layer 2 transaction fees generated by network activity. Fee revenue is derived entirely from actual network usage rather than inflationary token emissions. Governance authority over protocol upgrades, bridge parameters, and treasury allocation will transition to a fully decentralized autonomous organization within 24 months of launch.
"Most token launches are designed around the interests of insiders. ZAP is designed around the interests of participants," said Pavel Emdin, CEO of Igra Labs. "Price discovery happens entirely on-chain. There is no negotiated pricing, no preferential allocation, and no offchain deals. The market determines the outcome in the open."
"Aztec proved that continuous clearing works at real scale, with 17,000 people across 191 countries participating on fair terms," said Ashton Wood, Head of Ecosystem and Business Development at Igra Labs. "That is exactly the kind of mechanism and participant base that a network built on proof-of-work decentralization should launch with."
About Igra Network
CEOPavel EmdinIgra Association
