Exploring Investment Opportunities in the Depin Track
This article will introduce potential investment opportunities in the Depin track from four categories: sensors, servers, wireless networks, and computing resources.DePIN, or Decentralised Physical Infrastructure Networks, incentivizes user participation through token rewards for engaging with Physical Resource Networks (PRN) or Digital Resource Networks (DRN), aiming to optimize resource utilization efficiency and provide value to network users and participants.
The opportunity in this space lies in the ability to fully utilize idle resources, breaking the drawbacks and bottlenecks of centralized service providers. The sustainable development capability of a project also depends on whether its advantages can create a sufficient moat to avoid being replaced by other networks. Possible advantages include the resource capacity, density of network nodes, and a robust economic system. This article will introduce potential investment opportunities in the DePIN space, categorized into four areas: sensors, servers, wireless networks, and computing resources.
Hivemapper
Link: https://app.trendx.tech/projects/8883606edab53f21123a1c731cd7180f5a93de0ba6736f17340c93ce3df165c7
Hivemapper is a global decentralized mapping network aimed at addressing issues such as monopolistic pricing in the mapping industry, uneven coverage, and lack of compensation for user-generated data. Hivemapper completed a Series A funding round of $18 million on April 5, 2022, with investors including Multicoin Capital, Craft Ventures, and Solana Ventures.
Contributors can earn HONEY tokens as rewards by installing Hivemapper's dashcam to capture high-quality street images. They can also participate in the Map AI Trainer game to enhance Hivemapper's machine learning model and earn token rewards. Consumers can redeem tokens to access map data, and all ecosystem participants can benefit from the network.
The HONEY token is issued on the Solana blockchain, with a maximum supply of 10 billion HONEY tokens. The initial distribution of tokens is as follows:
40% to contributors as a reward for their participation in building the Hivemapper network. The exact number of tokens minted weekly is determined by global mapping progress.
20% to investors to provide the startup capital needed to launch the Hivemapper network.
20% to Hivemapper Inc. for the technology and operational systems required to build and run the Hivemapper network.
15% to Hivemapper Inc. for research and operational support for the Hivemapper network.
5% donated to the Hivemapper Foundation to promote the ongoing management and success of the Hivemapper network.
Hivemapper employs a detailed method—global mapping progress—to fairly reward contributors worldwide, and this method is continuously improved based on community suggestions. An update in September 2023 mentioned that different regional weights would affect the calculation of global mapping progress units and the rewards earned in a given area over time, distributing rewards based on coverage, activity, and resilience to maintain broad map coverage and rapid updates without relying on any single contributor.
Consumers purchase Map credits, and as usage increases, more HONEY tokens are burned, re-minted, and directly rewarded to data-providing contributors, essentially maintaining user-friendliness and facilitating the token transfer between consumers and contributors.
Notably, Hivemapper uses a three-layer verification system to validate the location of collected images, with the second layer being Helium's Long Range Wide Area Network (LoRaWAN), while the other two layers are the Global Navigation Satellite System (GNSS), commonly known as GPS, and map image quality checks.
As of November 2023, Hivemapper has delivered over 8,000 dashcams, which have mapped areas in more than 90 countries. Contributors have mapped over 80 million kilometers of road, with over 5.7 million kilometers being unique mileage, accounting for more than 9% of global roads. On average, Hivemapper contributors now map over 800 kilometers of roads each week.
Helium Mobile
Link: https://app.trendx.tech/projects/bb78f047cb52bc270dd950a3da8f10335729e0204c2649ddb6d075fff18abe2d
Helium Mobile is a decentralized 5G network that allows customers (rather than operators) to become network owners and operators. Helium Mobile users can earn rewards simply by using their phones on the Helium 5G network, giving consumers ownership of their mobile plans and the supporting network, ultimately achieving a network flywheel effect where increased user data further incentivizes the deployment of additional Helium 5G coverage. As coverage expands, network costs decrease, leading to a flywheel effect of network growth, cost reduction, and increased data usage that has garnered significant attention for the project.
To lower the entry barrier and accelerate Helium 5G network coverage, Helium Mobile offers Helium mobile hotspots, which use Wi-Fi technology to create coverage specifically for Helium Mobile users (smartphones only, no laptops or tablets). The price of mobile hotspots is significantly lower than that of CBRS radios and gateway bundles, and they are easier to set up. However, since the range of Wi-Fi technology is shorter than that of traditional cellular devices, a high density of Helium mobile hotspots is required to ensure sufficient data transmission through the Helium network, meaning a larger audience is needed and participation is easier. Community members can also purchase professional-grade CBRS equipment and complete the setup process or collaborate with professional installers.
On December 5, 2023, Helium Mobile launched a nationwide no-contract $20/month mobile plan in the U.S., offering unlimited data, calls, and texts. Notably, Solana Mobile Saga users in the U.S. will receive a 30-day free subscription to Helium Mobile, allowing them to seamlessly connect to the Helium 5G network and collaborate with nationwide 5G networks. Additionally, Solana Mobile Saga users can earn token rewards from other projects in the Solana ecosystem, creating a positive network flywheel.
MOBILE follows a minting schedule similar to HNT, but with a maximum supply of 230,000,000,000 (230B). 50B MOBILE will be allocated to the Helium Foundation at the network launch. The issuance plan will halve every two years, in line with HNT's halving schedule. Users can exchange Mobile for HNT in the Helium wallet app.
DIMO
Link: https://app.trendx.tech/projects/65388bb80af665bee720c1e4ab8a0c82b521a5a47ff4557b502aecade6c9be07
DIMO is a decentralized physical systems platform that allows vehicle owners to collect, utilize, and profit from data within their vehicles. Developers and data consumers can build applications and services, thereby reducing the cost of providing better mobility products and services, transferring data ownership to various users and stakeholders. By connecting drivers and their data with developers and manufacturers, DIMO can disrupt traditional business models, first creating value for businesses and then for users (if applicable). Applications and services can only be built by a few companies with existing access.
In 2022, DIMO launched devices, vehicle connectivity, and the $DIMO token. The current focus is on increasing vehicle supply by issuing $DIMO tokens to data providers to measure contributions; adding developer tools to make it easier for app developers to access device data to create new user experiences on DIMO. This year, the DIMO Mobile app added an embedded wallet and increased the quantity and quality of vehicle data.
As data storage becomes decentralized, more data is put on-chain (trips), and SDKs accelerate additions, the new application ecosystem based on DIMO will become more open. With increased decentralization, support for new vehicle types (e.g., scooters, aircraft, heavy machinery), and a growing customer base, the protocol continues to mature and applications are being developed, along with establishing formal relationships with automotive manufacturers.
The value of $DIMO comes from three aspects: coverage, data quality, and market demand. The token's role mainly involves transaction demand, governance voting, and staking and incentives for participants. As usage increases, $DIMO will also be burned, allowing users to receive more rewards.
DIMO's official website showcases a rich ecosystem, including car rentals, mobile apps, hardware facilities, etc. The following image shows the latest vehicle and trip data.
Peaq
Link: https://app.trendx.tech/projects/155792f6b678e1aa55d1b148dba6490a3046a95e731591c71890691a7e456d03
Peaq is a Web3 network that provides decentralized infrastructure and tools for builders and users of decentralized applications (dapps) for machines. It offers everything needed to build applications for vehicles, robots, and devices on blockchain networks. Peaq enables entrepreneurs and developers to create decentralized applications for vehicles, robots, devices, and other machines while allowing users to manage and profit from these connected machines.
Peaq allows owners of connected devices to directly benefit from the economic value generated by their assets. This economic benefit model also creates a unique wealth model for Peaq. Peaq's decentralized operating platform bypasses intermediaries, allowing users and devices to interact directly, enabling device owners to retain a larger portion of the income from their assets, as they no longer need to pay significant commissions to centralized platforms. Therefore, users participating in Peaq can earn more profits from internet-connected devices, encouraging more people to engage in the sharing economy. As more IoT devices generate economic benefits, profits will flow and distribute among token holders, stimulating transactions and driving development.
According to Peaq's official website, tokens will be issued in 2024, and interested parties can stay tuned.
Silencio Network
Link: https://app.trendx.tech/projects/89c3acd89c3dc8498b0d54b91665f15f2bd79761037df8f66be790a9e5e9b469
Silencio is a community-driven platform built on the Peaq network, dedicated to addressing the increasingly severe issue of noise pollution in urban areas. The project encourages users to contribute hyperlocal noise pollution data by offering rewards in the form of Nosie coins. By adopting an innovative ecological economic model, it actively engages users in combating noise pollution while allowing them to benefit from their contributions. By collecting accurate real-time data,
Silencio aims to leverage the power of smartphones to change noise pollution monitoring, eliminating the need for numerous fixed environmental sensors. Smartphones with built-in microphones can measure decibel levels and create hyperlocal noise pollution maps. The platform will also provide an app store where users can exchange Nosie coins for goods and services, as well as donate noise coins to meaningful causes such as tree planting or protecting endangered rainforests.
The project has announced plans for future airdrops, with the quantity of airdropped tokens primarily based on the noise data provided by users or the number of users they refer. Uploading one minute of data can earn a token, and users who refer others to use Silencio will receive 3% of all Noise Coins uploaded by their referrals, with the size of the covered geographic system also determining the amount.
According to the roadmap, the project has completed beta testing and will soon launch more product features, including NFT auctions, with plans to issue tokens in Q2 2024.
Onocoy
Link: https://app.trendx.tech/projects/ef4df464d52622ed70a4bb72b041d77b5b669b4e9dbadb3585c795f687e5bfec
Onocoy utilizes Web3 technology to build the world's densest GNSS reference station network, achieved through a community-driven approach to enable large-scale and high-density reference stations. The goal is to address the high costs of infrastructure, which leads service providers to focus on high-income areas and lucrative markets, as well as the redundancy of reference station infrastructure, resulting in unnecessarily high service costs due to infrastructure duplication.
GNSS has a wide range of applications, continually expanding beyond surface user positioning and navigation to determining the positions of aircraft and spacecraft. The Onocoy network integrates the deployment of reference stations to provide global coverage and high network density, distributing capital and operational expenditures of reference station infrastructure across a large community, improving high utilization and capital efficiency of the infrastructure, while users also benefit from reduced data costs.
Its architecture is built on Solana, where miners and validators providing core services to the Onocoy system earn ONO tokens. Businesses, developers, and end-users exchange and consume tokens using data from the Onocoy system. The project is still in the testing phase, using BONO tokens as test currency, with a well-designed token economy.
The maximum supply of ONO tokens is fixed at 810 million. Tokens are distributed as follows:
30% allocated to a rewards pool for miners and other contributors.
20% given to the Onocoy Association/DAO managed by ONO token holders.
Two rounds of financing (10% + 10%) provide 20% for the startup capital needed to launch the Onocoy system.
15% to the funding team that launched the Onocoy system.
15% paid to Services AG for employee salaries, consulting fees, and the costs of establishing and operating the technology and operational systems required for the Onocoy system.
Grass
Link: https://app.trendx.tech/projects/c79ae55ca2bdeed578bd3d28d6ee2aaa99346bd583abc9a856d997a8c6325a11
Grass is the flagship product of Wynd Network, which focuses on open network data. Recently, it announced the completion of a $3.5 million seed round of financing, led by Polychain Capital and Tribe Capital, with participation from Bitscale, Big Brain, Advisors Anonymous, Typhon V, and Mozaik. Grass allows users to earn passive income through internet connections by selling unused network resources, addressing the issue of existing networks operated by exploitative intermediaries. The network information accessed by individual IP addresses is customized, making this data very important for companies like airlines. In many cases, users unknowingly or by default "lend" their bandwidth, so the project aims to provide a decentralized solution that uses token incentives to encourage users to own their bandwidth rather than being deprived of rights by centralized proxy networks. Companies and AI labs can utilize this network.
The project has garnered attention with 15,000 followers on Twitter. The current beta version was launched in June 2023 and already supports Android phones. As of November 29, 2023, there have been 103,000 downloads and 1,450,000 unique IP addresses. In the future, token holders will accumulate a portion of the protocol's revenue and gain governance voting rights.
Space and Time
Link: https://app.trendx.tech/projects/4240d2cce11a227d55d900ede18edbae037b1f878b9d77c057e327898e81fbc3
Space and Time is a verifiable computing layer that scales zero-knowledge proofs on decentralized data warehouses, providing trustless data processing for smart contracts, LLMs, and enterprises. Space and Time connects indexed blockchain data from on-chain with off-chain datasets, employing Proof of SQL to ensure tamper-proof large-scale computations and prove that query results have not been manipulated.
Proof of SQL is a new ZK-proof developed by Space and Time that allows data warehouses to generate cryptographic proofs (SNARKs) for SQL query execution, demonstrating that query computations are accurately completed and that both queries and data are verifiable and tamper-proof.
Developers can connect indexed on-chain data with off-chain data through the project, using SQL to execute low-latency cached queries and large analytical jobs, transforming and shaping data into business-specific patterns, publishing queries to APIs, and building dashboards. Zero-knowledge technology ensures that tamper-proof query results are sent to smart contracts or published directly on-chain in a trustless manner.
Currently, Space and Time has indexed Ethereum, Polygon, Sui, Sei, and Avalanche, and is continuously supporting more chains while already integrating with Chainlink.
The project has 31,000 followers on Twitter and has garnered attention as an intersection of the DePIN and ZK tracks. There are currently no detailed token issuance plans, but it is advisable to keep a long-term watch.
Natix Network
Link: https://app.trendx.tech/projects/72d581430a5215cac9bd747efa4e66e2e0482d7105b95521ee3b94de985efcbb
Natix Network utilizes existing cameras as "super sensors" to collect data, protecting privacy through NATIX's proprietary AI and edge computing technology, and creating dynamic maps of the real world for users to collect and consume real-time data at low cost, such as crowd sizes, available parking spaces, and pothole locations.
The aim is to combine decentralized economic incentives with intrinsic motivation to break long-standing data monopolies, addressing issues of data silos, high user costs, and unfair compensation for user data, entering the geospatial data market.
The NATIX network relies on two types of tokens to coordinate the interests of network participants. These two types of tokens are iLand NFTs and fungible NTXT tokens. Natix's dynamic map divides the Earth into tiles, each with a unique smart Land NFT, also known as "iLand NFT," which generates passive income for holders. Any data generated by NATIX network cameras will be located on one of these tiles. Once this data is monetized, tile owners are entitled to collect royalties on every transaction occurring on that tile. Additionally, iLand NFTs have governance functions within the network. iLand NFTs will be airdropped, sold, and traded on the market. The minting fees for NFTs and the royalties from NFT transactions will be used to develop the network and incentivize early participants. NTXT (ERC-20) is the native utility token of the NATIX network. It is used as a payment method for purchasing data and iLand NFTs, and can also be staked for rewards or to reduce network fees, as well as participate in system governance.
Natix allows users to earn NTXT without purchasing additional hardware, as they can join the network and earn tokens using their smartphone cameras. Users can earn tokens by using their phone cameras while driving/riding or exploring the map, detecting events (potholes, trash, or parking spaces) and earning tokens. Business data consumers can subscribe to and use real-time data captured by NATIX cameras.
The total supply of NTXT is 1 billion, which will be gradually released over 48 months.
The Natix network has designed a series of incentives and rewards to encourage user participation in the network, including incentivizing users who provide liquidity for NTXT/USDC on AMM. Additionally, data providers/detection data providers are required to stake a certain amount of tokens to ensure they do not act maliciously.
The project has 35,000 followers on Twitter and is currently in the early stages, opening whitelist applications for users to participate in project testing.
References:
https://www.coincarp.com/zh/fundraising/hivemapper-series-a/
https://blog.hivemapper.com/celebrating-the-hivemapper-networks-first-year-8f0195f2e9ec
https://www.panewslab.com/zh_hk/articledetails/32gcvt6i0g87.html
Follow Us
TrendX is an AI-driven one-stop platform for Web3 trend tracking and smart trading, utilizing large language models and AI technology to identify market trends and seamlessly integrate with smart trading, aiming to become the next-generation AI trading platform for the future 1 billion users entering Web3 to check projects, find hotspots, observe trends, engage in primary investments, and secondary trading.
Website: https://app.trendx.tech/
Twitter: https://twitter.com/TrendX_tech
? Investment involves risks; projects are for reference only, and please bear the risks yourself?
