Doppler Raises $9M to Power Onchain Token Launches

The rise of Doppler from a new launch protocol to essential market infrastructure has been remarkably swift. Since its debut nine months ago, the platform has become the default path to market for new onchain assets, particularly on Coinbase’s Base network. The data underscores this dominance: over 90% of new decentralized exchange (DEX) pools on Base now launch via Doppler. Its infrastructure is trusted by leading applications like Zora, Base App, Paragraph, and FxHash for their token creation needs.

The scale of activity is substantial. According to the announcement, more than 40,000 assets are created daily using Doppler. This torrent of new tokens represents over $1.5 billion in created value and has driven cumulative trading volume exceeding $1 billion. Furthermore, Doppler has deployed more than six million pools, accounting for 93% of Uniswap v4 pools on Base and 91% across all its supported networks. These figures position Doppler not merely as a tool, but as a foundational layer for the burgeoning onchain economy.

The protocol’s rapid adoption addresses a critical pain point in the crypto ecosystem. As described by Austin Adams, creator of the Doppler Protocol and founder of Whetstone Research, the traditional process for launching a token is broken. Teams often spend months preparing, only to fall victim to snipers who extract value, suffer from failed liquidity, and watch their token charts collapse shortly after launch. Adams draws a parallel to the traditional IPO process, stating, “Capital formation has not fundamentally changed in over a century, despite how broken the IPO process has become.”

Doppler’s solution is to compress months of complex infrastructure work—including token deployment, vesting schedules, liquidity bootstrapping, governance setup, and fee routing—into a single, unified interface. At its core are customizable price discovery auctions designed to protect launches from predatory sniping while generating protocol-owned liquidity from day one. This allows project teams to shift their focus from building fragile launch mechanics to developing their core applications and communities.

The protocol’s flexibility supports a wide range of asset types, including tokenized equities, commodities, token generation events (TGEs), and assets representing content, art, and ideas. Once launched via Doppler, these assets are immediately tradeable across any interface that supports the underlying DEX, ensuring maximum distribution and accessibility from the outset.

The $9 million seed round, led by Pantera Capital with participation from Variant, Figment Capital, and Coinbase Ventures, provides the fuel for Doppler’s next phase of growth. The capital will be used to expand into self-serve markets, support larger and more complex token generation events, and deepen integrations across the broader onchain ecosystem. The backing from these prominent crypto-native venture firms validates Doppler’s approach to market infrastructure.

The team behind Doppler, which includes engineers with backgrounds at Uniswap, Primitive Finance, and Aztec, brings critical experience in building automated market makers (AMMs) and scalable financial infrastructure. This expertise is central to executing their broader mission: to become the default infrastructure not just for crypto tokens, but for entirely new asset classes that were previously impossible to create and trade efficiently.

Adams envisions a future where “tokenization of markets will finish what electronification started in the 1990s,” leading to massive leaps in efficiency, lower costs, and reduced barriers. In this new reality, the launch mechanism fundamentally determines the outcome. By providing a robust, standardized protocol, Doppler aims to help teams “build apps, not auctions,” ultimately redefining the very process of capital formation for the onchain era.