The zkSNARKs project concluded a 48-hour blind auction for 8,000 encrypted digital identities on the Zcash blockchain. The event attracted 16,971 bids, resulting in a total volume of 25,305 ZEC. All winning participants paid a uniform clearing price of 1.5 ZEC per identity.
The auction utilized Zcash shielded transactions to ensure user privacy, keeping both bid amounts and participant identities hidden on-chain. Unsuccessful bidders received automatic refunds through the same private transaction mechanism.
The 8,000 identities sold represent the majority of the 10,000-unit collection. The remaining 2,000 units were allocated as follows: 1,000 for distribution via SNARKLIST and 1,000 retained in the project treasury for future development.
To facilitate participation, the team integrated NEAR Intents, allowing users to bid using assets like ETH, SOL, or stablecoins. These assets were converted to ZEC automatically during the settlement process.
