DAWN, Solana-Based DePIN Protocol, Raises $18 Million

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The decentralized physical infrastructure network (DePIN) movement continues to gain momentum, with DAWN emerging as the latest standout project to secure major funding. Following in the footsteps of high-profile DePIN successes like io.net and peaq, DAWN has raised $18 million in a funding round led by top-tier venture firm Dragonfly. This capital injection marks a pivotal moment for Andrena, the team behind DAWN, and accelerates its mission to revolutionize internet access through decentralized technology.

The Rise of DePIN and DAWN’s Strategic Position

DePIN is one of the most promising narratives in the blockchain space in 2025, merging real-world infrastructure with crypto incentives. By leveraging blockchain networks like Solana, DePIN protocols enable communities to build, own, and operate physical infrastructure—such as wireless networks, computing power, or sensor grids—without centralized control.

DAWN is at the forefront of this shift. As a Solana-based protocol, it aims to create a decentralized wireless internet network called the Decentralized Autonomous Wireless Network. This network empowers individuals to become active participants—not just consumers—by sharing bandwidth, earning rewards, and contributing to a more open and resilient internet.

👉 Discover how decentralized networks are reshaping internet access—explore the future of Web3 infrastructure.

Funding Success and Investor Confidence

DAWN’s $18 million raise was structured as an extended Series A round under a SAFE (Simple Agreement for Future Equity) with a token purchase option. Originally targeting $5 million, the round significantly overshot expectations—a strong signal of investor confidence in both the team and the DePIN vision.

Led by Dragonfly, a well-known crypto-native venture capital firm, the round also attracted participation from reputable investors including:

This latest funding brings Andrena’s total raised capital to **$38 million**, building on the $15 million secured in its initial Series A round last year—also led by Dragonfly.

Real-World Infrastructure Meets Blockchain Innovation

Andrena isn’t starting from scratch. Founded in 2016, the company has been providing wireless internet services since 2019 across 10 U.S. states, including New York, Texas, Florida, and Pennsylvania. It currently operates a physical network powered by hundreds of rooftop-mounted wireless devices.

What sets DAWN apart is its plan to transition this existing infrastructure onto the blockchain. Once the token launches—date unannounced—the company will gradually move its current customer base and revenue streams on-chain. This hybrid model gives DAWN a rare advantage: real-world usage before tokenization, reducing speculation risk and increasing long-term viability.

Users will interact with the network via a mobile app, where they can purchase DAWN’s native token to buy internet bandwidth. The app connects to a home hardware device equipped with an antenna that both receives and shares internet access—turning every user into a node in the decentralized network.

Token Incentives and Community Participation

DAWN’s economic model is designed to reward active participation. Users earn points (and eventually tokens) for:

These incentives align user behavior with network growth, creating a self-sustaining ecosystem. Over time, contributors can monetize their hardware and bandwidth—effectively becoming micro-ISP operators within the DAWN network.

The project is currently live on testnet and preparing for mainnet deployment on Solana. While the team has not yet announced a token launch date or mainnet timeline, the progress in real-world deployment puts DAWN ahead of many early-stage DePIN projects.

Strategic Partnerships and Academic Backing

DAWN’s technical credibility is further strengthened by its collaboration with Professor Pramod Viswanath from Princeton University—a key figure behind Sentient, an open-source AI platform that raised $85 million in a seed round in July 2024. This partnership suggests that DAWN may integrate advanced AI for network optimization, routing efficiency, or predictive maintenance—giving it a technological edge in managing large-scale wireless infrastructure.

Global Expansion Goals

With initial coverage already reaching millions of homes in the U.S., DAWN has ambitious expansion plans. The network aims to provide service to over 3 million households at launch, with future rollouts planned across Asia, Europe, and Latin America. This global vision positions DAWN not just as a U.S.-focused ISP alternative, but as a foundational layer for decentralized internet access worldwide.

👉 See how blockchain-based networks are bridging digital divides across continents.

Frequently Asked Questions (FAQ)

Q: What is DAWN?
A: DAWN is a Solana-based DePIN protocol building a decentralized wireless internet network. It allows users to share bandwidth, earn rewards, and participate in a community-owned internet infrastructure.

Q: How does DAWN make money?
A: Andrena generates revenue through existing internet service subscriptions. In the future, it will integrate token-based payments for bandwidth usage, with fees potentially supporting network operations and staking rewards.

Q: What is the DAWN token used for?
A: The native token will be used to purchase internet bandwidth, stake for network validation, and participate in governance decisions within the decentralized ecosystem.

Q: Is DAWN already available?
A: The physical network is operational in 10 U.S. states. The blockchain-powered app and token are still in development, with testnet active and mainnet launch upcoming.

Q: Who is behind DAWN?
A: DAWN is developed by Andrena, co-founded by Neil Chatterjee. The team includes experts in wireless networking and has partnered with Princeton University’s Professor Pramod Viswanath.

Q: Why is Solana chosen for DAWN?
A: Solana offers high throughput, low transaction costs, and strong developer support—ideal for handling micropayments and real-time data from thousands of network nodes.

The Bigger Picture: DePIN as a Gateway to Mass Crypto Adoption

Many experts believe DePIN could be the catalyst that brings billions of new users into the crypto economy—not through speculation, but through everyday utility. Unlike traditional crypto projects focused on finance or gaming, DePIN solves tangible problems like internet access, energy distribution, and computing power.

DAWN exemplifies this shift: users join not to trade tokens, but to get better internet. They stay because they earn rewards. Over time, they become stakeholders in a decentralized system—naturally adopting blockchain without needing to understand its complexities.

Alongside projects like io.net (raised $30 million) and peaq (raised $15 million), DAWN is proving that real-world utility can attract serious capital and drive sustainable growth.

👉 Learn how next-generation blockchain networks are powering real-world applications beyond finance.

Final Thoughts

DAWN represents a powerful convergence of real-world infrastructure, decentralized incentives, and cutting-edge blockchain technology. With $38 million in funding, operational experience across the U.S., and strategic academic partnerships, it stands out as one of the most credible DePIN projects today.

As the line between physical networks and digital ownership blurs, DAWN is poised to play a key role in shaping the future of internet access—one decentralized node at a time.

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