Decentralized wireless network construction on Solana receives $18 million funding from Andrena
Andrena, a Solana-based DePIN project, has successfully secured $18 million in an extended Series A funding round. The fundraising round, which was significantly oversubscribed, was led by Dragonfly and participated by CMT Digital, Castle Island Ventures, Wintermute Ventures, 6th Man Ventures, and ParaFi. This brings the total raised by Andrena to $38 million.
The funds will be used to further develop Andrena's decentralized autonomous wireless network (DAWN), a groundbreaking initiative aimed at revolutionizing internet services. DAWN leverages the Solana blockchain combined with a novel "proof of backhaul" mechanism to create a decentralized broadband network that incentivizes community participation in internet infrastructure.
The "proof of backhaul" mechanism is a unique consensus or validation mechanism that verifies participants' contribution of real-world network infrastructure to the decentralized network. This allows participants to earn tokens as rewards for their infrastructure support.
The DAWN project aims to decentralize the internet, allowing users to generate and sell their excess internet to a network of providers. Andrena's wireless equipment is installed on rooftops of customers' houses, enabling them to participate in the network. Users will be able to purchase the native token of DAWN using a mobile app, and use it to buy internet bandwidth from the DAWN network.
Andrena's internet services are currently available in 10 U.S. states, including New York, New Jersey, Texas, Tennessee, Florida, and Pennsylvania. As the network grows, users will be able to earn rewards for staying connected, referring others, and participating as validators. Andrena plans to migrate its customers and revenue on-chain once the token is launched.
The DAWN protocol uses the "proof of backhaul" mechanism, an on-chain verification technology developed by Andrena in partnership with Princeton University professor, Pramod Viswanath. This technology facilitates node connection to the broader internet, making the network more resilient and accessible.
The DAWN project has been in development since the fall of last year, following a $15 million Series A round announced last year, in which Dragonfly was also the lead investor. The project is currently in testnet, with no defined timeframe for a mainnet launch.
The decentralized model aims to lower costs, improve coverage, and enhance network resilience through decentralized ownership and incentivization. This could potentially revolutionize how internet services are deployed and consumed globally, reducing dependence on traditional centralized ISPs and fostering a more affordable, resilient, and transparent internet access.
[1] For more information on the technical aspects of the DAWN project, please refer to the project's whitepaper or official documentation.
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