Doppler announced it raised a $9 million seed round led by Pantera Capital, with participation from Variant, Figment Capital, and Coinbase Ventures, as the company positions its protocol as a core piece of launch infrastructure for teams raising capital on-chain.
The company said it has become a dominant route to market for new assets on Base since launching nine months ago, claiming that more than 90% of new DEX pools on Base now launch via Doppler. Doppler also said its infrastructure supports tokens created by applications including Zora, Base App, Paragraph, and FxHash, and that more than 40,000 assets are created daily using the protocol.
Doppler is pitching its product as an end to bespoke token launch setups that can leave teams exposed to problems such as sniping, weak liquidity formation, and rapid post-launch price collapses. The protocol aims to consolidate common launch tasks into a single system, including token deployment, vesting, liquidity bootstrapping, governance, and fee routing.
At the center of the protocol are price discovery auctions that Doppler says are designed to protect launches from snipers while generating protocol-owned liquidity from day one. The company said this structure allows teams to focus on building applications and communities rather than building auction and launch mechanics from scratch.
Doppler said its auctions can be customized for a wide range of asset types, including tokenized equities and commodities, token generation events, and creator- or content-driven assets. It added that assets launched through Doppler are immediately tradeable across interfaces that support the underlying DEX.
The company cited rapid usage growth across Base and other supported networks. Doppler said more than six million pools have been deployed through its system, representing 93% of Uniswap v4 pools on Base and 91% across all supported networks. Doppler also said this activity has driven more than $1.5 billion in value created and more than $1 billion in cumulative trading volume.
With the new financing, Doppler said it plans to expand into self-serve markets, support larger token generation events, and deepen integrations across the on-chain ecosystem. The company also highlighted a team with engineering backgrounds at Uniswap, Primitive Finance, and Aztec.
Doppler is being developed by Whetstone Research, which described its broader roadmap as building onchain market infrastructure. Whetstone said Doppler is its first product and that it is also developing Pure Markets, described as a launchpad and trading terminal for serious projects.
KEY QUOTES
“Capital formation has not fundamentally changed in over a century, despite how broken the IPO process has become. Tokenization of markets will finish what electronification started in the 1990s — leaping forward in efficiency and creating new markets while simultaneously lowering costs and barriers. In this new reality, the mechanism determines the outcome. That’s why we invented Doppler.”
Austin Adams, Creator of the Doppler Protocol and Founder of Whetstone Research
