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The FungoLabs Genesis NFT Sealed-Bid Auction, Everything you need to know FungoLabs will be using a sealed-bid auction where both your price and quantity stay fully private until the sale ends. This lets the market decide the real price. Instead of the project picking a fixed price (which can be too high or too low), buyers decide what the NFTs are worth through encrypted bids. Key Details • Mint date: November 5, 2026 • Free mint: 500 NFTs for whitelist holders • Sale: 2,500 NFTs via sealed-bid auction • Bidding currency: cZAMA • Technology: Built with Zama's FHE How the Auction Works 1️⃣ Step One: Placing Your Bid You bid in cZAMA. Each bid has two parts: A. Price: the amount of cZAMA you're willing to pay per NFT. B. Quantity: how many NFTs you want at that price. While bidding is open, both stay encrypted. Onchain, only the fact that you placed a bid, the time, and the number of bids are visible. No one (including FungoLabs) can see your actual price or quantity. Bids are binding once placed and cannot be withdrawn. There is also a small non-refundable fee for using the encrypted bidding system. 2️⃣ Step Two: Ranking & Setting the Final Price When the sale ends, all bids are revealed and ranked from highest price to lowest price. The lowest bid that still fills the last NFT (the 2,500th) becomes the final sale price. Everyone who wins pays that same price, not their individual bid. Any excess cZAMA is refunded. 3️⃣ Step Three: Who Wins • Bids above the final sale price get their full quantity. • Bids exactly at the final sale price split the remaining NFTs pro-rata. • Bids below the final sale price get no NFTs and receive a full refund of their cZAMA. Simple Example To keep the math easy, say only 25 NFTs are for sale and 5 people bid (44 NFTs wanted in total). Bids are ranked: Charles (150 cZAMA × 8), Bob (120 × 7), James (100 × 10), Olivia (100 × 10), William (80 × 9). The 25th NFT is filled at 100 cZAMA, so the final sale price is 100. • Charles bid 150 for 8 NFTs. He gets all 8, pays 800 total, and gets 400 cZAMA back. • Bob bid 120 for 7 NFTs. He gets all 7, pays 700 total, and gets 140 back. • James and Olivia both bid exactly 100 for 10 NFTs. Only 10 NFTs are left, so they split them pro-rata: 5 each. Each pays 500 and gets 500 back. • William bid 80 for 9 NFTs. He gets nothing and receives a full refund of 720 cZAMA. If total demand stays below the available supply, everyone who bid buys at the lowest bid price. 4️⃣ After the Sale Winners receive their Genesis NFTs (minted sealed). The holder decides who can see what's inside. Excess cZAMA from winning bids is refunded. All official timing, updates, and the exact auction window will come from @FungoLabs.

$FUNGO tokenomics + X Campaign is live from @FungoLabs 10B total supply: • Genesis NFT holders → 36% (1,113,861 $FUNGO per NFT) Worth of token at Different FDV $500k FDV → $56 $1M FDV → $111 $5M FDV → $557 $10M FDV → $1,114 $25M FDV → $2,785 • Zama OG holders → 7% Per Zama OG NFT (~140,112 $FUNGO) Worth of token at Different FDV $500k FDV → $7 $1M FDV → $14 $5M FDV → $70 $10M FDV → $140 $25M FDV → $350 • X Campaign Pool → 3% (300M $FUNGO) Worth of token at Different FDV $500k FDV → $15,000 $1M FDV → $30,000 $5M FDV → $150,000 $10M FDV → $300,000 $25M FDV → $750,000 Claim window is 7 days after TGE with 100% Unclock (unclaimed tokens gets burned). You can take it as regular $FUNGO or cFUNGO. • Team → 10% (12-month lock, then 36-month unlock) X Campaign is open now — connect your X, submit your 5 best Fungo posts (from 1 Nov 14:00 UTC). Leaderboard reveals when the campaign ends. Rewards hit your wallet at TGE Link to the Campaign: fungolabs.org/launchpad/c/cf…

More Details Emerging from @FungoLabs about the Genesis NFT Utility for Holders → 20% of launchpad revenue goes into a pool and is split equally across all 3,232 Genesis NFTs. Holders can claim in ETH, $ZAMA, or tokens from collections launched on the pad. → Every collection that launches also allocates at least 5% of its token supply to Genesis holders (up to 20%). → Team-owned Genesis NFT revenue share will be used 100% to buy back and burn $FUNGO

Free 11,250 $IAO for Proof of Agent holders @Ptahtrade Initial Agent Offering is live in testing. Steps: → Make sure you already minted a free Proof of Agent card at ptah.trade/poa (needs Binance Agent ID). → Post on X in this format: "Initial Agent Offering is live. Claiming my 11,250 $IAO with my Proof of Agent. ptah.trade/iao Agent #5133 (replace with your agent no)" →Go to ptah.trade/iao → connect your Agent wallet → submit the post link → claim. Tokens currently have near-zero value and almost no liquidity. This is experimental. DYOR. #IAO

This diagram shows why provenance and rights-cleared AI data matter. Most of the useful data left for AI comes from people rather than public websites, and using it without clear consent and licensing creates legal and compliance risk. The flow here closes that gap: a contributor gets a Trace receipt, access is controlled by Seal, the file is stored with Walrus, and payment returns to the person who provided it. That combination of verifiable origin, enforced rights, and compensation is what lets labs use real-world data responsibly instead of relying on scraped material with unclear rights

The decision to leave the independent L1 and join Sui makes sense once you look at what Trace is actually for. Maintaining a chain is expensive and distracts from the product. Trace job is to make AI training data auditable, with clear origin, consent, and licensing attached to every contribution. That matters because most remaining useful data comes from people, not public websites, and using it without rights clearance creates legal and compliance risk. Without a verifiable rights record, labs face legal risk and contributors have no clean way to be paid. Trace already tracks close to 300 million contributions. Moving it onto Sui and Walrus simply lets that rights-cleared supply scale without the team having to maintain the underlying chain.

The CoinDesk piece highlights a practical problem Trace is built to solve. Finding a market in AI data meant confronting how hard it is to know whether a dataset is original or properly licensed. In one case described in the interview, vendors offered Poseidon its own data back as if it were exclusive. Provenance and rights clearance exist to close that gap so labs can verify what they’re buying and contributors can be compensated fairly. Trace records origin, consent, and licensing so data can be audited. Joining Sui with Walrus and Seal adds the ability to store and compare against the original file, making those rights clearer and more enforceable as the supply of real-world AI training data grows.