CoinList Returns to U.S. Market with DoubleZero Token Sale

CoinList, a token launch platform, is making a significant return to the U.S. market after a five-year absence. The platform is hosting a token sale for the DoubleZero Foundation, the team behind the DoubleZero protocol. This marks the first token sale open to U.S. accredited investors since 2019, when CoinList last conducted a similar offering for the Kadena token.

CoinList's re-entry into the U.S. market coincides with a more favorable regulatory environment under the current administration. The platform had exited the U.S. in late 2019 due to increased enforcement actions by the U.S. Securities and Exchange Commission (SEC) under the previous administration. These actions were widely viewed as overly aggressive by the crypto sector. The current administration has taken a more supportive stance toward the crypto industry, with the SEC dropping multiple lawsuits against major players like Coinbase, Kraken, and Ripple.

Scott Keto, president of CoinList, highlighted that many projects aiming for community-centric token sales between 2020 and 2024 chose to exclude U.S. participants due to the political and regulatory climate. This period saw a significant surge in the crypto market, excluding bitcoin, from $60 billion to $1.15 trillion. However, U.S. investors were largely sidelined from early-stage participation during this time.

Keto praised the current administration's approach, noting its desire for America to lead in crypto innovation. He mentioned that the U.S. is close to passing a stablecoin bill and expects a new version of the market infrastructure bill, which will bring regulatory clarity to the industry and likely open up the markets to both founders and investors in the U.S.

The DoubleZero token sale on CoinList will run from April 2 to April 22 and will be open only to validators from five blockchain ecosystems: Solana, Sui, Aptos, Avalanche, and Celestia. DoubleZero describes itself as a global network built on real-world fiber, aiming to provide a more stable and reliable data transport layer for blockchain ecosystems. The token sale is structured to align operators of high-performance infrastructure on permissionless systems with DoubleZero.

Up to 1.5% of the 2Z token supply will be offered, with no set price targets. There are currently 10 billion 2Z tokens, and its supply may increase through inflation and decrease through token burns. To participate, validators must submit a form between April 2–10, including their public key and, optionally, a price or budget. Allocations will be determined based on network stake and pricing input, with all eligible participants receiving a fixed offer at the final clearing price. The sale will be live from April 15 to April 22.

U.S. participants will face a one-year lockup period starting from the sale's closing date, while non-U.S. buyers will have a shorter lockup period of 40 days or until the mainnet launch, whichever is later. All validators will receive tokens at the same price, regardless of location. Earlier this month, the DoubleZero Foundation raised $28 million in a token round co-led by Multicoin Capital and Dragonfly Capital, reportedly at a valuation of $400 million.

While this is CoinList's first token sale involving U.S. investors in years, the platform expects more to follow. "The next wave of U.S. public token sales starts now," CoinList stated. This move comes as community fundraising platforms like CoinList, Echo, and Legion have been gaining traction and helping projects raise capital in recent months.