The DePIN Explorer - DePIN Scan

The U.S. Securities and Exchange Commission (SEC) has issued a no-action letter to Fuse Crypto Limited, the developer behind Fuse Energy, a decentralized physical infrastructure network (DePIN) project built on the Solana blockchain. This letter provides essential regulatory clarity, confirming that the project's native FUSE token, also known as the ENERGY token, does not require registration as a security under U.S. securities laws, provided it is offered and sold according to the specifications outlined in Fuse's application. Fuse Energy incentivizes users to engage with a decentralized energy grid through its mobile app, allowing users to earn FUSE tokens by performing tasks such as reducing energy consumption during peak hours and generating solar power. The SEC's decision marks a significant shift towards a more crypto-friendly regulatory environment under the leadership of new Chairman Paul Atkins and Commissioner Hester Peirce. Legal experts highlight that no-action letters serve as a form of regulatory cover, assuring projects that they will not face immediate enforcement actions for potential securities violations. The DePIN sector, valued at over $24 billion, views this as a potential blueprint for utility tokens linked to real-world actions, with Fuse's token design focusing on consumptive use rather than speculation. This approach aligns with SEC expectations and could enhance the adoption of green energy initiatives. In another development, Rekt Brands Inc., the company behind the crypto-native beverage Rekt Drinks and its $REKT token, has announced a $2 million partnership with GameSquare Holdings, the parent company of esports giant FaZe Clan. This partnership will prominently feature Rekt branding on FaZe Clan's esports jerseys, marking a strategic entry into gaming culture. GameSquare will utilize its extensive media network to promote Rekt Drinks and the $REKT token, further integrating gaming with crypto. This collaboration aims to enhance Rekt's visibility in the esports domain, potentially increasing engagement with younger audiences. CEO Ovie Faruq emphasized the partnership's goal of expanding Rekt's community-driven movement globally through gaming connections.

Aethir has emerged as a prominent player in the decentralized GPU cloud infrastructure sector, catering to the surging demand for enterprise-grade computing power across AI, gaming, and Web3 applications. As traditional centralized cloud systems face limitations in capacity and efficiency, Aethir has positioned itself as a leader by leveraging a decentralized Physical Infrastructure Network (DePIN) model. The company has successfully deployed over 435,000 enterprise-grade GPU containers globally, utilizing cutting-edge NVIDIA hardware and delivering over 1.4 billion hours of computing services. In Q3 2025, Aethir reported revenues of $39.8 million, marking a significant milestone in its Annual Recurring Revenue (ARR), which surpassed $147 million, driven by the needs of AI inference services and large-scale model training. Aethir's infrastructure has been integrated into the core systems of various innovative AI companies, showcasing its versatility and effectiveness. For instance, Kluster.ai has utilized Aethir's computing network to drastically reduce the patient selection process for clinical trials, enhancing the viability of medical AI. Similarly, Attentions.ai has developed custom large-scale models through Aethir, facilitating the application of no-code AI platforms in traditional sectors. In the gaming industry, Aethir's capabilities have been validated through significant improvements in user engagement metrics, with companies like SuperScale and Reality+ reporting substantial increases in conversion rates and user preferences for products based on Aethir's cloud gaming architecture. In a strategic move, Aethir completed a $344 million ATH token investment and launched the Aethir Digital Asset Treasury (DAT), which aims to integrate decentralized compute assets with traditional capital markets. This initiative has positioned Aethir as a pioneer in the DePIN field, gaining recognition from institutional investors. With a focus on performance, stability, and cost-effectiveness, Aethir's decentralized GPU network is set to redefine enterprise computing, offering near-bare-metal performance and enhanced resource utilization. As the DePIN market is projected to grow significantly, Aethir's real enterprise revenue capabilities and scalable delivery systems may establish a long-term competitive advantage in this evolving landscape.

IoTeX has officially launched ioID, the world’s first on-chain identity solution specifically designed for smart devices. This innovative protocol addresses the growing need for secure and verifiable identities in the rapidly expanding market of smart devices, which are projected to outnumber humans by 2030. ioID empowers decentralized physical infrastructure networks (DePIN) to authenticate devices, safeguard data, and facilitate next-generation applications within a user-owned ecosystem that is compatible with any blockchain. This breakthrough is poised to revolutionize identity management for smart devices, allowing them to achieve self-sovereignty through smart contract wallets and private keys. The ioID protocol introduces several key features that set it apart from traditional identity management systems. Firstly, it grants devices their own sovereign identity, enabling them to engage in on-chain activities independently of centralized intermediaries. Secondly, ioID's omnichain compatibility allows it to function across various blockchain platforms, making it suitable for a wide range of DePIN applications, from energy networks to smart wearables. Additionally, the protocol is designed to be tamper-proof and programmable, fostering innovation and interoperability among devices. Since its testing phase began in early 2024, ioID has been integrated with over ten DePIN projects, including GEODNET and Network3. This integration allows IoTeX to refine ioID into a standardized solution that meets the diverse needs of developers in the DePIN space. According to IoTeX Co-founder and CEO Raullen, ioID bridges the gap between the physical and digital worlds, making trust and programmability core features of device interactions with blockchains. As a significant milestone for IoTeX, the launch of ioID not only enhances device ownership and control but also unlocks new opportunities in the DePIN sector, reinforcing the platform's commitment to a more transparent and fair digital ecosystem.

Lit Protocol has successfully concluded its staking contest and is now focused on launching the Naga v1 Mainnet, expected to be operational by the end of the year. This new mainnet will introduce several enhancements, including a faster and more scalable threshold algorithm for ECDSA signing, support for various threshold signing schemes, and improvements in robustness and reliability. Additionally, a new simplified payment model and a Javascript SDK (v8) will facilitate easier integration with Lit products. Users will also have the capability to securely migrate their keys from the previous Datil Mainnet, making the transition to Naga seamless for developers. In parallel with the Naga launch, the Vincent ecosystem is undergoing significant upgrades. The Vincent Yield app has surpassed $500,000 in Total Value Locked (TVL), showcasing its growing popularity among developers. Current updates include the introduction of Hyperliquid capabilities and Solana support, with more features like the Abilities 2.0 specification set to enhance user experience. Furthermore, Vincent app developers will benefit from automatic fee collection, retaining 90% of the fees generated from user transactions, thus incentivizing app development within the Vincent framework. A notable innovation is the introduction of the veLITKEY model, which merges retroactive goods funding with a vote-escrow token system. This model allows LITKEY token holders to vote on Lit Apps for rewards, fostering a community-driven approach to project development. Features of this model include a veNFT representation of locked stakes, liquid staking options, and a monthly voting epoch that incentivizes participation. As these features roll out, they promise to enhance the ecosystem's engagement and sustainability, paving the way for a robust community around Lit Protocol's offerings.