2Z, the native token of decentralized cloud platform Doublezero, is set up to be listed in multiple exchanges, including Binance Alpha and Upbit, later today. The list comes just days after Altcoin was deemed to have fallen outside the scope of the US securities laws.
summary
- DoubleZero is listed today in major exchanges such as Binance Alpha and Upbit.
- The list comes just days after the US SEC issues regulatory clearance for the token.
According to the official announcement, Binance Alpha will become the first platform to list DoubleZero (2Z) tokens, with training scheduled for 30 minutes at 12:00 pm on October 2nd, with Binance Futures launching permanent contracts for tokens, allowing trading with up to 50x leverage.
It should be noted that Binance Alpha or Binance Futures listings do not guarantee that they will be automatically listed on the main binance spot platform. Projects should continue to demonstrate strong community engagement and sustainable trading activities before considering the complete list.
Meanwhile, other major exchanges that added support for tokens on the same day included Upbit and Bitget.
The list coincides with the launch of DoubleZero Mainnet-Beta and shows progress as the project works towards a full mainnet release. It also marks DoubleZero’s token generation event, and reportedly establishes a source supply of 10 billion tokens.
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However, it should be noted that DoubleZero follows an inflation model. This means that the maximum supply of tokens is not capped. This is because new tokens may be minted over time, and other tokens may be burned to balance network incentives.
That toconemic data reveals that only an estimated 350-400 million tokens (approximately 3.5-4% of supply) enters the circulation, primarily from validator allocations and partial community airdrops, but the majority of tokens remain locked under the multi-year best schedule of teams, investors and ecosystem funds.
The total amount of tokens assigned to airdrops is 2Z, with 1.28 billion people, accounting for 12.8% of Genesis.
The release of 2Z comes just days after DoubleZero secured a rare invalid letter from the U.S. Securities and Exchange Commission.
In a letter issued on September 29 by the SEC’s Corporation Finance division, the agency confirmed that it does not recommend enforcement of DoubleZero’s 2Z token distribution under the conditions outlined by the lawyers.
The DoubleZero legal team submitted that 2Z is designed as a functional reward token within the network and will not be used as an investment vehicle, but to be compensated by high-performance connectivity and resource operator providers.
Such regulation clarity, especially from major US regulators, can play a major role in unlocking market sentiment at launch, as it gives investors more confidence in the legitimate scaffolding and long-term viability of tokens.
Therefore, market participants are closely watching how 2Z works from the gate.
What is doublezero?
DoubleZero is a Depin sector decentralized cloud infrastructure protocol designed to act as a blockchain validator and a global network backbone for distributed applications.
The project builds an unauthorized edge network that provides bandwidth, routing and specialized hardware acceleration processing for blockchain voters, distributed applications, and a wider range of network participants. This accomplishes this through nodes deployed in major cities around the world.
Native Token 2Z strengthens all economic activity in the network. It is used for bandwidth and calculation, governance, staking and paying for reward providers that contribute to infrastructure resources.
Doublezero is backed by renowned investors including Dragonfly Capital, Multicoin Capital, Foundation Capital, Resturocal Ventures, Ubik Capital, and Borderless Capital, including ecosystem partners such as Jump Crypto and Malbec Labs.
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