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The DoubleZero of today, tomorrow, and the years that follow.
$25 billion of Solana stake now reaches the chain through DoubleZero, up from $21.7 billion at the end of Q2 and $18 billion at the end of Q1. With our recently published Q2 results, it’s important going over what they mean for DoubleZero, our wins & why we are expanding past crypto. Watch Our Q2 Breakdown here: https://x.com/doublezero/status/2089744349404041443?s=20 DoubleZero is now the chosen network of 61% of Solana validators. Validators on DZ publish their block data straight into DoubleZero Edge. Across Q2, validators representing roughly 58% of Solana stake published into the Solana feed, and rewards went to 452 distinct validators. Since publishing our results, the validator share across DZ has increased. A subscriber to that feed receives shreds sourced from across the validator set rather than from a single relay. The publisher physically closest to a given subscriber is the one that sets the speed for them, so each validator that connects raises the odds that somebody, somewhere, now has a nearer source than they had last week. The feed is provided to subscribers who use the data in their high frequency trading strategy. How data moves on DoubleZero Solana's native shred propagation sends data through a multi-hop validator tree that has no idea where anyone is. Someone based in SF might be using data that has gone from Toyko to New York before finally being sent to their terminal. Even if data moved at the speed of light, anyone should know that this geographical process could be quicker. DoubleZero moves data over a multicast network to do exactly that. The network switches replicate the data in hardware and send it to every subscriber in the same instant. NYSE, Nasdaq and CME have distributed market data this way for decades. What that changes is the cost of growth. The subscription revenue goes to the publishers Edge ran 115 distinct subscriber seats over the quarter, averaging around $8,500 per epoch. Subscribers paid approximately $330,000 in USDC across 39 subscription epochs, converting to roughly 4.35 million 2Z. The network burns 10% of this, about 435,000 2Z. Of what remained, half went to the network contributors carrying the traffic and half to the validators and validator client teams publishing the data. Validators are paid out of subscriber demand rather than out of emissions. DoubleZero removed the validator access fee entirely during the same stretch, so connecting to the network moved from a cost to a source of earnings. Every validator that connects and publishes makes the feed worth more to the desks buying it, and those desks then pay the validators. The compounding effect on DZ makes the network a more attractive place for the validators that haven’t yet connected. Routes get made when they're requested Fourteen independent contributors supply DoubleZero. Between them they provide 170+ active network contributions running across 97 devices in 63 facilities, spanning 30 metros in 18 countries. Twelve of those contributions were activated during Q2 alone. For example, a trading firm needs Osaka as a hub pays to bring Osaka onto the network, and every party already connected then has Osaka. Across 66 measured corridors the DoubleZero delivered roughly a 21.6% lower round trip latency than comparable public internet paths. The best corridors run much further ahead. As of mid-June, Hong Kong to Tokyo, London to Oslo and Frankfurt to Prague each ran about 57% faster. The program that grew Tokyo from 24 validators to 68 Solana's stake had concentrated in Europe for a reason that is purely physical. A validator far from the cluster sees higher latency, higher latency costs it rewards, and lower rewards make running outside Europe a worse business. In Q2 the DoubleZero Delegation Program entered a second phase aimed at that, redirecting roughly 2.4 million SOL to validators operating in São Paulo, Singapore, Hong Kong and Tokyo, which makes it more viable to run outside the established hubs. Asia-Pacific more than doubled its validator count over the quarter. Tokyo went from 24 validators to 68. Two of the largest validators on the network, together representing over 30 million SOL, relocated. Expanding outside of crypto. DoubleZero's build-out is ahead of where its own team expected it. Our Co-Founder @Austin_Federa put the current state at roughly where he had projected for mid to late 2027, and said making use of what exists is priority now rather than building more of it. The Solana feed established the model. The Kalshi feed, live since 12 August, carries a CFTC-regulated venue running a central matching engine, on the same platform and over the same fiber. The infrastructure that took Wall Street 40 years to build, DoubleZero has established, tested and succeeded in building. In far less time for far newer markets. Not only does the network operate as intended, but it is showing a clear demand from New Finance market participants as firms & experienced traders continue to adopt new financial venues. Signed The 00 team
75·ALong
n
news9/4news
The DoubleZero of today, tomorrow, and the years that follow.
$25 billion of Solana stake now reaches the chain through DoubleZero, up from $21.7 billion at the end of Q2 and $18 billion at the end of Q1. With our recently published Q2 results, it’s important going over what they mean for DoubleZero, our wins & why we are expanding past crypto.
Watch Our Q2 Breakdown here:
https://x.com/doublezero/status/2089744349404041443?s=20
DoubleZero is now the chosen network of 61% of Solana validators.
Validators on DZ publish their block data straight into DoubleZero Edge. Across Q2, validators representing roughly 58% of Solana stake published into the Solana feed, and rewards went to 452 distinct validators. Since publishing our results, the validator share across DZ has increased.
A subscriber to that feed receives shreds sourced from across the validator set rather than from a single relay. The publisher physically closest to a given subscriber is the one that sets the speed for them, so each validator that connects raises the odds that somebody, somewhere, now has a nearer source than they had last week.
The feed is provided to subscribers who use the data in their high frequency trading strategy.
How data moves on DoubleZero
Solana's native shred propagation sends data through a multi-hop validator tree that has no idea where anyone is.
Someone based in SF might be using data that has gone from Toyko to New York before finally being sent to their terminal. Even if data moved at the speed of light, anyone should know that this geographical process could be quicker.
DoubleZero moves data over a multicast network to do exactly that. The network switches replicate the data in hardware and send it to every subscriber in the same instant. NYSE, Nasdaq and CME have distributed market data this way for decades.
What that changes is the cost of growth.
The subscription revenue goes to the publishers
Edge ran 115 distinct subscriber seats over the quarter, averaging around $8,500 per epoch. Subscribers paid approximately $330,000 in USDC across 39 subscription epochs, converting to roughly 4.35 million 2Z.
The network burns 10% of this, about 435,000 2Z. Of what remained, half went to the network contributors carrying the traffic and half to the validators and validator client teams publishing the data. Validators are paid out of subscriber demand rather than out of emissions.
DoubleZero removed the validator access fee entirely during the same stretch, so connecting to the network moved from a cost to a source of earnings.
Every validator that connects and publishes makes the feed worth more to the desks buying it, and those desks then pay the validators. The compounding effect on DZ makes the network a more attractive place for the validators that haven’t yet connected.
Routes get made when they're requested
Fourteen independent contributors supply DoubleZero.
Between them they provide 170+ active network contributions running across 97 devices in 63 facilities, spanning 30 metros in 18 countries. Twelve of those contributions were activated during Q2 alone.
For example, a trading firm needs Osaka as a hub pays to bring Osaka onto the network, and every party already connected then has Osaka.
Across 66 measured corridors the DoubleZero delivered roughly a 21.6% lower round trip latency than comparable public internet paths. The best corridors run much further ahead. As of mid-June, Hong Kong to Tokyo, London to Oslo and Frankfurt to Prague each ran about 57% faster.
The program that grew Tokyo from 24 validators to 68
Solana's stake had concentrated in Europe for a reason that is purely physical. A validator far from the cluster sees higher latency, higher latency costs it rewards, and lower rewards make running outside Europe a worse business.
In Q2 the DoubleZero Delegation Program entered a second phase aimed at that, redirecting roughly 2.4 million SOL to validators operating in São Paulo, Singapore, Hong Kong and Tokyo, which makes it more viable to run outside the established hubs.
Asia-Pacific more than doubled its validator count over the quarter. Tokyo went from 24 validators to 68. Two of the largest validators on the network, together representing over 30 million SOL, relocated.
Expanding outside of crypto.
DoubleZero's build-out is ahead of where its own team expected it. Our Co-Founder @Austin_Federa put the current state at roughly where he had projected for mid to late 2027, and said making use of what exists is priority now rather than building more of it.
The Solana feed established the model. The Kalshi feed, live since 12 August, carries a CFTC-regulated venue running a central matching engine, on the same platform and over the same fiber.
The infrastructure that took Wall Street 40 years to build, DoubleZero has established, tested and succeeded in building. In far less time for far newer markets.
Not only does the network operate as intended, but it is showing a clear demand from New Finance market participants as firms & experienced traders continue to adopt new financial venues.
Signed
The 00 team
75·ALong
n
news9/3news
One year ago this month, the SEC issued a No-Action Letter confirming that DoubleZero's solana:J6pQQ3FAcJQeWPPGppWRb4nM8jU3wLyYbRrLh7feMfvd token can flow in the protocol as designed.
It was one of the first NALs the SEC has granted to a crypto project since 2020, and the most significant one yet, because it lays out a clear framework other projects could follow.
The best regulatory outcomes come from regulators and innovators working closely together. 🤝