Zama's ZAMA Token Goes Live on Solana via Sunrise, Trading on Raydium, DFlow

Zama's ZAMA token went live on Solana on 24 September 2026, when Sunrise announced at 14:55 UTC that the Ethereum-issued token was "live and tradable" with "liquidity wherever Solana users trade." Zama confirmed the listing seven minutes later, and within an hour five Solana trading venues had opened ZAMA markets: Raydium RAY$1.85-1.1%, DFlow, JTX, Archer and NectarFi.

ZAMA stands apart from Sunrise's recent listings. It is the utility token of an encryption protocol, while the gateway's September run has included memecoins, tokenized stocks and ecosystem tokens such as ApeCoin, which Sunrise brought over two days earlier. It also arrives in the same week Sunrise passed a weekly trading volume milestone on Solana.

What Zama's fully homomorphic encryption does

Zama builds fully homomorphic encryption (FHE), which Zama's launch post describes as "a type of cryptography that lets computers process data while it stays encrypted." Applied to a blockchain, Zama says FHE lets a smart contract "check that you have enough balance, execute a transfer and update an app's state without ever seeing the actual numbers."

The closest everyday comparison is an accountant who can total a stack of sealed envelopes and certify the sum without opening any of them. On a public ledger where balances and transfer amounts are normally visible to anyone, that is the property Zama is selling.

Zama was founded in 2020 by Rand Hindi and Pascal Paillier, and the company says it became the first FHE unicorn after its $57M Series B in 2025. The ZAMA token has two jobs in the protocol, according to the same post: network operators stake ZAMA to secure the protocol and earn rewards, and protocol fees, such as those for decrypting data or verifying encrypted inputs, are paid in ZAMA.

How the ZAMA token moved from Ethereum to Solana through Sunrise

Sunrise is the asset gateway that Wormhole Labs, the team behind Wormhole W$0.015-3.6%, unveiled in November 2025 to bring tokens from other chains onto Solana with liquidity from the first day. ZAMA originates on Ethereum at contract 0xa12cc123ba206d4031d1c7f6223d1c2ec249f4f3, and Sunrise published the Solana mint, 4Zp52aF4hZi9fzH19xpbWKYKQvgLyCN67KFbrQDqeTKh, as "the canonical" version of that token on Solana.

Canonical matters here because it means one official ZAMA on Solana. Zama describes it as "a single canonical token that can be traded natively across the ecosystem," the same model that brought PEPE to Solana earlier this month. Solana now sits alongside Ethereum, BNB Smart Chain and HyperEVM in the list of chains where ZAMA is deployed, according to Zama's token documentation.

The Solana mint itself predates the Sunrise listing. Solana Compass holder snapshots show 329 wallets holding it on 3 July and 410 on 20 September, with more than 96% of that supply sitting in the ten largest wallets on both dates. What changed on 24 September was Sunrise's canonical designation and five venues opening markets at once.

Where to trade ZAMA on Solana: Raydium, DFlow, JTX, Archer and NectarFi

Raydium was first of the five venues to announce, posting at 15:03 UTC that Sunrise was "bringing one of crypto's leading privacy infrastructure assets to Raydium." JTX followed at 15:23 UTC and Archer at 15:26 UTC. NectarFi listed ZAMA at 15:36 UTC, offering purchases with fiat or stablecoins, and DFlow added it at 15:54 UTC under the line "Privacy on Solana."

By 20:24 UTC on 24 September, about five and a half hours after the announcement, Solana Compass's ZAMA token page showed $4.51M in trailing 24-hour volume across 46,654 trades from 9,761 unique traders. Our data counted 1,883 wallets holding ZAMA on Solana at the same snapshot, more than four times the 410 recorded on 20 September.

What ZAMA on Solana means for confidential DeFi builders

What went live on 24 September is the token and its markets. Confidential applications on Solana are the stated next step: Zama's post lists confidential tokens and payments, confidential trading to prevent front-running, confidential DeFi for lending, treasury and payroll, and onchain compliance without exposing user data among the uses it sees for Solana. The post gives no timeline for any of them.

The more interesting question is whether Solana developers pick up Zama's encryption tooling now that its token trades natively on their chain. The listing gives Zama an active market and several thousand traders on Solana; what builders do with FHE is the part still to come. Sunrise set out its view in a reply to Zama at 15:04 UTC, less than ten minutes after ZAMA went live on Solana: "Confidentiality isn't optional."