March 6, 2025
DoubleZero Foundation has secured $28 million in a token funding round led by Multicoin Capital and Dragonfly Capital. Several other investors participated, including Foundation Capital, Reciprocal Ventures, DBA, Borderless Capital, Superscrypt, and Frictionless. The organization, which supports the DoubleZero protocol, is developing a fiber-based network to improve blockchain performance by increasing bandwidth and lowering latency.
The newly raised capital will be used to expand the foundation’s team, with a focus on marketing, developer relations, and business development. Another priority is the network’s transition from testnet beta to public mainnet, scheduled for the second half of the year. Alongside the funding announcement, DoubleZero introduced a permissioned testnet designed for Solana validators and RPC providers. The test phase is currently active in seven cities: Singapore, Tokyo, Los Angeles, New York, London, Amsterdam, and Frankfurt.
DoubleZero’s approach addresses ongoing challenges in blockchain scalability, where network congestion and unpredictable routing can impact transaction speed and reliability. By offering dedicated fiber infrastructure, the project aims to provide more consistent connectivity for high-performance blockchains. The foundation’s work is being supported by core contributors, including Malbec Labs and Jump Crypto.
About DoubleZero Foundation
DoubleZero Foundation oversees the development of the DoubleZero protocol, which seeks to create a dedicated fiber network for blockchain infrastructure. By utilizing independent fiber links, the initiative aims to address network congestion and improve validator communication. The system is positioned as a potential backbone for high-performance blockchains.
Website: https://doublezero.xyz/
X: @doublezero
About Investors
Multicoin Capital
Multicoin Capital is a blockchain-focused investment firm backing projects in infrastructure, decentralized finance, and Web3 applications.
Location: Austin, TX
Website: https://multicoin.capital/
Dragonfly Capital
Dragonfly Capital is a global venture firm supporting early-stage blockchain and cryptocurrency startups.
Location: New York/ Singapore
Website: https://dragonfly.xyz/
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