On October 2nd, Binance revealed its 48th project on the HODLer Airdrops portal, DoubleZero (2Z), a DePIN platform, before listing it on the exchange.
Users who subscribed their BNB to Simple Earn (Flexible and/or Locked) and/or On-Chain Yields products starting on September 26 at 00:00 (UTC) until September 28 at 23:59 (UTC) are eligible for the airdrop.
Binance created the HODLer Airdrops portal to retroactively reward users based on historical snapshots of their BNB holdings.
What is DoubleZero (2Z)?
DoubleZero is a global network of high-performance links engineered to bring low-latency networking to everyone, everywhere, according to the official website of the project.
DoubleZero's fiber network brings Solana's mission of synchronizing the world's information at the speed of light, according to the Solana founder, Anatoly Yakovenko. Solana is popular for its high speed, low network fees, and stability in the blockchain ecosystem.
DoubleZero is used by more than 300 validators globally with partners including Coinbase, Galaxy, Figment, Everstake, Staking Facilities, and others.
Core Features
DoubleZero's core features include the following:
- Enables existing validator installations to leverage dedicated, low-latency network routes from contributors
- Delivers reliable bandwidth
- Boosts validators' performance and speed
- Accelerates blockchains
- Enables fast and fair participation
- Provides onchain transparency
- Bypasses public Internet latency and packet loss
The project promises to allow packets on the Internet to reach their destination in the most direct and fastest way.
DoubleZero is purpose-built for blockchains, and it enables:
- Faster block propagation - Supported by a dedicated fiber that can bypass congested public networks
- Network scalability and decentralization - Driven by an infrastructure that boosts network performance to run validators globally
What is 2Z
The 2Z is the project's token that offers multiple functions to the DoubleZero protocol, while aligning incentives between users, contributors, and community members.
2Z core functions in the DoubleZero ecosystem include the following:
- Utility - Representing a medium of exchange for network services, powering the network's economy
- Efficiency - Offering rewards to network contributors who can earn tokens fairly based on how much they boost network performance
- Security - Boosting the protocol via staking (to vouch for link quality), burns (to ensure integrity), and inflation (to fund common network operations)
The total supply for 2Z will be 10 billion tokens, with a circulating supply of 3.471 billion tokens. Binance's HODLer Airdrops rewards include 35 million 2Z tokens.
2Z is set to go live on October 2 on crypto exchanges, including Upbit, Binance, and others.
Binance's 2Z Listing Details
In its official announcement, Binance revealed that it will list 2Z today, at 13:00 (UTC), and will open trading for the following pairs:
- 2Z/USDC
- 2Z/USDT
- 2Z/FDUSD
- 2Z/BNB
- 2Z/TRY
The exchange will list 2Z with Seed Tag signaling potential volatility. 2Z will first be listed on Binance Alpha, the platform created by the exchange to showcase early-stage projects with growth potential in Web3.
Users can already start depositing 2Z.
DoubleZero could be added to our list of the best DePIN projects to invest in this year.
