DoubleZero To Open Its Native Crypto 2Z For Sale To Validators

DoubleZero has announced the sale of its native token, 2Z, to validators of networks such as Solana, Aptos, Avalanche, Celestia, and Sui. The sale will remain open until April 10th, during which eligible validators can use their public keys to submit expressions of interest and optionally provide a valuation or maximum budget per unit. 

Validators with higher stakes will receive priority, and those participating in price discovery by submitting higher valuations may receive larger allocations. The submitted expressions of interest will determine the clearing price for all participants, and eligible participants will receive a customized tender based on the clearing price to “accept or decline.”

As per the official statement, the KYC (Know Your Customer) and accreditation process for the sale must be completed between April 2nd and April 22nd, with US participants also needing to verify their accredited investor status. From April 11th to 15th, eligible users will receive their allocations, based on validator interest, which will be announced on April 15th.

The purchase period runs from April 15th to 22nd, during which participants must fund thaceir purchase. The token price will be determined based on validator interest and announced on April 15th. Participants can submit their individual indications via a form, with no purchase limits. Up to 150,000,000 2Z tokens (1.5% of the initial supply) are available for allocation.

The vesting schedule for US purchasers includes a 1-year cliff from the purchase date, while non-US purchasers will have a vesting period that is the longer of either the mainnet launch or 40 days from the purchase date. Payments can be made via USDT or USDC.

To be eligible, participants must complete the indication form by April 10th and verify their validator on the Solana, Sui, Aptos, Avalanche, and/or Celestia networks by April 10th.

Recently, DoubleZero Foundation received a $28 million investment led by Dragonfly and Multicoin Capital. With this, DoubleZero is valued at $4 billion and is currently seeking additional investment at a $6 billion valuation.

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Written by Ritu Lavania

Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. Passionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.