ZAP, a token distribution protocol based on the Ethereum Layer2 network Blast, has announced that it has raised $15.10 million in total funding. The funding was raised in the last three rounds, namely $900,000 seed round last December, $2.10 million private round last month, and $12.10 million from the ongoing "Vault Sale". The seed and private rounds are structured as simple future token agreements (SAFTs), while the vault sale is similar to a node sale. Investors in the ZAP seed and private rounds include Rarestone Capital, Cypher Capital, Sharding Capital, Luca Netz of Pudgy Penguins, Larry Cermak of The Block, and Chelsea Jiang of Foresight Ventures. ZAP was valued at $15 million during the seed round, increased to $30 million during the private token round, and is currently valued at around $100 million. According to reports, ZAP was established in November last year to build a "reputation-based" token distribution protocol on Blast. ZAP said its protocol validates user contributions to ensure fair and elitist token rewards, enabling the project to grow sustainably and grow its community.