Help & FAQs / Aztec
What does the AZTEC Token do?
The AZTEC Token is a network token that powers the Aztec Network. The token will be used for the following functions:
Staking: Sequencers will stake tokens that serve both as sybil resistance and slashing collateral. Users can delegate tokens to a third-party operator.
Governance: Tokens enable participation in the governance of the Aztec Network.
Network fees: In the future, if enabled by governance, the tokens will serve as the means to pay for transaction fees on the network.
Other Aztec Questions
What if I'm not on the Contributor track whitelist?
To pre-qualify for bidding, mint your KYC NFT and come back on December 2nd to submit your bid. The public sale track sale will run from December 2nd, 2025, to December 6th, 2025. Aztec has calendar reminders you can set and an automated email you can sign up for to remind you when the public sale track goes live.
How will the governance work? Who can participate?
At Ignition, governance votes require the participation of 100,000,000 Tokens (~0.97% of the Total Supply). If 66,666,667 Tokens (~0.64%) vote yes, the vote will pass.
Only those who bought tokens through the Genesis sequencer sale, the Contributor sale track whitelist, and the public sale track are eligible to vote in governance.
The core team and investors can't participate in staking or governance for 12 months. Additionally, their tokens have a 36-month lockup schedule from the 13th of November 2025, consisting of 12 months locked, followed by 24 months linear unlock.
How does the Uniswap Continuous Clearing Auction work?
1. Submit a Bid
You submit a total ETH amount and a maximum price you’re willing to pay. All bids are denominated in ETH.
2. Your Bid Spreads Across All Remaining Tranches
Your total ETH is automatically split evenly across every tranche that has not yet cleared at the time you bid.
3. Each Tranche Has Its Own Supply
Tranches may have different token amounts, so the number of tokens available per tranche can vary.
4. Clearing Price Per Tranche
At the end of each tranche, the auction sets a clearing price based on total eligible demand.
- If your max price ≥ the clearing price, you receive tokens in that tranche.
- If your max price is below the clearing price, you receive none for that tranche.
5. Prices Can Only Go Up, Not Down
A tranche’s clearing price can stay the same or increase, but it cannot decrease below the previous clearing price or the auction’s floor price (if one exists).
6. Bids Cannot Be Withdrawn
Once placed, bids are not withdrawable.
- If your capped bid is outbid, you may convert any unspent ETH from that bid into a market order.
- EU participants should refer to Section 4 of the Auctions Term of Sale for refund rights and additional information.
For more information, see here.
Is there a cap to the sale?
Users can either place a market order or set their own cap to ensure they never buy tokens above a certain price. As the sale is distributing a large percentage of the network (14.95%), the Continuous Clearing Auction (CCA) ensures that users will never pay more than any other user in a given period for tokens while enabling fair price discovery.
Who can participate?
Participants must be 18 years of age or older, complete applicable sanctions and wallet screening checks. U.S. citizens are eligible to participate. Access to the sale is also prohibited in and including comprehensively sanctioned jurisdictions, the UK, Malta, Myanmar, and additional jurisdictions.
Can I withdraw my bids and receive a refund?
Once your bids are placed, you will not be able to withdraw them. If you place a capped order bid and are outbid, you will have the option to convert your unspent ETH from this bid to a market order. For EU participants, please refer to Section 4 of the Auction Terms of Sale, for refund rights and further information.
When does the token become transferable?
After February 11th 2026 the community can pass a governance vote to make the following tokens transferable:
- Tokens purchased in the Contributor and Public track of the auction.
- Block rewards received by sequencers.
- The Uniswap V4 pool for trading.
After a successful vote, these tokens will be 100% unlocked. If the vote does not pass, the community can keep proposing votes. If the vote(s) do not pass, the tokens purchased through the sale will unlock automatically and become transferable on November 13th 2026. No other tokens can be unlocked or transferable until November 13th, 2026.