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The DEPIN project DAWN, which raised $33 million, has surged into trending topics and continues to gain popularity! Strategically invested by VanEck, this time it is definitely a heavyweight!
1. Introduction to DAWN
DAWN is a decentralized wireless network designed to provide internet services, developed by the Andrena team. Owners or residents have the opportunity to buy and sell internet capacity in their surrounding areas—allowing users to operate as their own internet service providers. DAWN facilitates a trustless exchange system that employs backhaul, location, and frequency proofs.
Tags: Internet of Things, DePIN, Wireless Network
2. Financing Situation
DAWN has made significant progress in financing. The project has completed two rounds of financing with a total amount of $33 million.
Among them, on August 7, 2024, a total of $18 million was raised, led by Dragonfly, with participation from CMT Digital, Castle Island Ventures, Wintermute Ventures, 6th Man Ventures, and ParaFi.
Additionally, in the Series A financing completed on February 28 last year, a total of $15 million was raised, led by Dragonfly, with other participating institutions including Castle Island and Blockchange Ventures.
3. Token Allocation
DAWN introduces a unique "badge" system, allowing users to obtain a badge by staking 100,000 DAWN tokens. Badge holders can designate specific geographical areas and technologies to increase the reward multiplier for that area.
Badge holders can earn 12% of bandwidth trading profits within designated areas, thus the system is designed to encourage the network to expand into high-potential regions.
In terms of token distribution, nodes in various networks (the aforementioned BN, DN, and AN) will receive 25% of the total token rewards. Third-party validators (i.e., the aforementioned browser hangers) and ecological partners will receive a total of 10% of the token rewards, while the project treasury, team, and investors each hold 20%, with token unlock terms currently unknown.
4. Summary
DAWN is a decentralized wireless network that provides all users with the opportunity to buy and sell network bandwidth, aiming to return bargaining power from ISPs back to the users through decentralized network deployment.
Due to its popularity among several investors including Dragonfly and the potential Ponzi flywheel effect in its internal economic model, combined with the expectation that the DePIN track will land more applications in the future, the DAWN protocol is worth participating in and paying attention to.
Disclaimer: All information in this article is for communication and sharing purposes only and does not constitute any investment advice. Please comply with the relevant laws and regulations of your region. Refusal of investment is at your own risk.
