Doppler, a protocol for on-chain token creation and issuance, announced that its parent company, Whetstone Research, has completed a $9 million seed funding round in Q2 2025. The round was led by Pantera Capital, with participation from Variant, Figment Capital, and Coinbase Ventures. The valuation details were not disclosed. Previously, Whetstone Research raised $1.3 million in a pre-seed round led by Variant.