TL;DR
- Andrena has raised $18 million to develop DAWN, a decentralized broadband protocol.
- DAWN is a DePIN protocol that uses blockchain technology to provide internet access without centralized providers and is currently in a test phase before its launch on Solana.
- The funding will enable the completion of the protocol and its associated smart contracts, aiming to offer a decentralized alternative to traditional internet services.
Andrena, a wireless internet provider, has announced a $18 million funding round aimed at developing its new decentralized broadband protocol, named DAWN. The funding round was led by Dragonfly, with additional participation from CMT Digital, Castle Island Ventures, and Wintermute Ventures.
The DAWN protocol is part of the decentralized physical infrastructure network (DePIN) concept, designed to provide internet access without the need to rely on centralized providers. This approach seeks to transform how internet service is delivered by eliminating dependence on traditional infrastructures controlled by centralized companies. Currently, DAWN is operating in a test environment ahead of its official launch on the Solana blockchain.
We’re thrilled to announce our $18M raise led by @dragonfly_xyz!
Thank you to our investors @6thManVentures, @wintermute_t @paraficapital @robotventures @EV3ventures among others. (🧵) pic.twitter.com/nosPgLtPgx
— DAWN (@dawninternet) August 7, 2024
Andrena Proposes DAWN to Operate Like Google Cloud
The term DePIN refers to physical infrastructure networks that use blockchain technology and tokenized incentive mechanisms. This allows external projects to access infrastructure without needing to acquire and manage their own equipment. DAWN aims to function similarly to cloud services like Amazon Web Services (AWS) or Google Cloud but in a decentralized format.
One of DAWN’s key features is its use of blockchain technology to establish a trustless exchange system between network participants. This system includes a “proof of backhaul” function that measures performance capacity at each node in the network. Ensuring an accurate assessment of data transmission and reception capacity.
The funding obtained is primarily aimed at completing the development of the DAWN protocol and its associated smart contracts. With this financial boost, Andrena seeks to advance the creation of a more open and accessible internet infrastructure. Moving toward a model intended to reduce reliance on traditional providers and offer a decentralized alternative in the connectivity space.
