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The DoubleZero Protocol, a blockchain infrastructure network aiming to multiply speeds and efficiency for distributed networks, announced a validator funding round to sell token-purchase agreements for its native token to prospective validators.
Applications for the funding round will be accepted April 2-10 through the CoinList platform, marking its first public token sale in the United States since 2019. The round is only available to accredited investors.
According to the protocol, only validators currently serving the high-throughput Solana, Celestia, Sui, Aptos, and Avalanche networks are eligible to apply.
Interested parties are invited to submit bids declaring a per-unit token price and maximum budgets, which will be aggregated to determine the final sale price offered to the participating validators.
In a statement to Cointelegraph, Austin Federa, co-founder of the Double Zero protocol and former Strategy lead at the Solana Foundation, said:
"This industry has seen huge investment and innovation at the top of the stack — it is time to revolutionize the physical infrastructure layer powering high-performance distributed systems,” Federa said in the statement.
The funding round comes amid a recent uptick in capital fundraising from crypto firms and crypto venture capitalists — suggesting that the market has room to grow in 2025.
Related: Crypto VC giant targets $1B for new funds, expects oversubscription — Report
DoubleZero protocol targets mainnet launch in the second half of 2025
The DoubleZero Protocol is aiming to launch its mainnet during the second half of 2025 following a successful $28 million fundraising round completed in March.
Crypto venture capital firms Multicoin Capital and Dragonfly Capital led the previous fundraising round.
DoubleZero aims to increase the speed and communication of blockchain networks by using a dedicated network of fiber optics to provide the physical infrastructure for high-speed, low-latency blockchain connectivity.
The focus on a dedicated fiber optic network for higher speeds is similar to the shift from dial-up internet that used 56K modems operating through 20th-century telecommunication infrastructure to broadband systems in the early 2000s.
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