Hivemapper Launches HONEY-JitoSOL Liquidity Incentive Program with Strategic Partners

Wednesday, November 27, 2024 12:00 AM
2,346
Hivemapper Launches HONEY-JitoSOL Liquidity Incentive Program with Strategic Partners cover

The Hivemapper Foundation has recently formed a strategic partnership with Kamino and Jito Labs to launch the HONEY-JitoSOL liquidity treasury incentive plan. This initiative comes at a time when many investors in the cryptocurrency market are still engaged in zero-sum games, while decentralized physical infrastructure networks (DePIN) are paving new avenues for value creation. The rapid advancement of Web3 technology is facilitating a deep integration of DePIN and decentralized finance (DeFi), which is reshaping the blockchain industry’s landscape. This integration promises to enhance the liquidity of physical assets and foster substantial innovation across the blockchain ecosystem.

Hivemapper, a decentralized mapping network operating on the Solana blockchain, has made significant strides since its inception in November 2022, mapping 29% of the world’s roads within two years. Utilizing innovative “Bee” dashcam devices and AI technology, Hivemapper captures over 28 million kilometers of street-level imagery monthly, outpacing Google Street View by five times. The project has garnered investments from notable institutions, including A16Z and Binance, and has established partnerships with global mapping giants. The HONEY token incentivizes user participation in data collection, addressing challenges in developing high-precision maps through a unique AI+DePIN model.

The newly launched liquidity solution on the Orca trading platform offers up to $17,000 in rewards for HONEY token liquidity providers. It features automated transaction fee income, smart rebalancing, and professional analysis tools to help users navigate risks. The market response has been overwhelmingly positive, with the HONEY-JITOSOL liquidity pool achieving a Boosted APY of 36.02% and a total value locked (TVL) exceeding $500,000 shortly after launch. This innovative cooperation not only highlights the potential of integrating DePIN with DeFi but also sets a precedent for future developments in the blockchain space, demonstrating how decentralized finance can empower the real economy and create new opportunities for users.

Related News

The Rise of Decentralized Physical Infrastructure Networks and Consumer Engagement cover
a day ago
The Rise of Decentralized Physical Infrastructure Networks and Consumer Engagement
In 2013, Helium was founded to create a wireless infrastructure that could support the rapidly growing Internet of Things (IoT) industry. By 2018, the company pivoted towards a decentralized wireless network model, allowing devices worldwide to connect to the Internet without relying on traditional, power-hungry satellite systems or costly cellular plans. Utilizing token incentives, Helium's network expanded rapidly, boasting over 375,000 hotspots and establishing itself as the largest long-range wide-area network (LoRaWAN) and the fastest-growing cellular network. This innovative approach has inspired over 1,400 Decentralized Physical Infrastructure (DePIN) projects, collectively valued at over $53 billion, demonstrating the potential of blockchain technology to create real-world value through decentralized systems. Consumers play a crucial role in the DePIN ecosystem, acting as the supply backbone for various networks in exchange for token rewards. These networks can be categorized into physical resource networks, which incentivize consumers to contribute to real-world infrastructure, and digital resource networks, where consumers help build virtual infrastructure. For instance, decentralized energy networks rely on consumers to connect distributed energy resources like solar panels, while decentralized mapping projects leverage consumer-grade hardware to gather location data. Additionally, consumers can contribute their computing power and bandwidth to decentralized compute platforms, enhancing the capabilities of AI and machine learning applications. As DePIN projects evolve, they are increasingly generating revenue and attracting consumer demand. By tapping into consumer marketplaces and offering direct-to-consumer products, these projects can streamline customer acquisition and enhance user engagement. The DePIN model not only incentivizes new consumer behaviors but also accelerates the adoption of existing ones, particularly in the energy sector. As these networks grow, they unlock new applications and services, creating a flywheel effect that attracts developers and increases consumer adoption. Overall, the intersection of consumers and DePIN is paving the way for innovative solutions and a more decentralized future.
CreatorBid Partners with io.net to Enhance AI Development through Decentralized GPU Network cover
a day ago
CreatorBid Partners with io.net to Enhance AI Development through Decentralized GPU Network
In a significant development for the AI Creator Economy, io.net has announced a strategic partnership with CreatorBid, a platform specializing in AI-driven tools for creators and brands. This collaboration will allow CreatorBid to utilize io.net's decentralized GPU network, enhancing the scalability and efficiency of its image and video models. By leveraging this decentralized infrastructure, CreatorBid aims to optimize resource utilization while minimizing costs, making high-performance computing more accessible for businesses engaged in AI technology. Tausif Ahmed, VP of Business Development at io.net, emphasized the advantages of this partnership, stating that it enables CreatorBid to harness their decentralized GPU network for advanced AI solutions. CreatorBid's CEO, Phil Kothe, echoed this sentiment, highlighting the potential of scalable GPU resources to empower AI Influencers and Agents. This partnership is set to revolutionize content creation, as it allows creators to engage audiences and produce diverse content formats autonomously, paving the way for a new era in digital entrepreneurship. CreatorBid is at the forefront of the AI Creator Economy, providing tools that enable creators to monetize their content and build vibrant communities around AI Agents. These customizable digital personas facilitate engagement and interaction, fostering co-ownership among creators and fans. By integrating cutting-edge AI tools with blockchain technology, CreatorBid is redefining the creator landscape and positioning itself as a key player in the transition towards an autonomous Creator Economy. The partnership with io.net not only showcases the practical applications of decentralized GPU networks but also accelerates CreatorBid's vision for an AI-driven future in content creation and branding.
CreatorBid Partners with io.net to Enhance AI Development and Image Scaling cover
a day ago
CreatorBid Partners with io.net to Enhance AI Development and Image Scaling
CreatorBid has recently joined the io.net decentralized network, marking a significant step in the evolution of AI development and image model scaling. io.net, a prominent player in decentralized physical infrastructure networks (DePINs), welcomed CreatorBid, a hub for the AI Creator economy, to its platform. This strategic partnership is poised to enhance CreatorBid's capabilities by utilizing io.net's decentralized GPU network, allowing for efficient scaling of AI image models while significantly reducing costs compared to traditional centralized computing services. The integration with io.net provides CreatorBid access to scalable and flexible GPU resources, addressing the centralization issues often faced with conventional service providers, such as high costs and slow processing speeds. CreatorBid's CEO, Phil Kothe, expressed optimism about the partnership, stating that it would enable the company to expand its offerings beyond images to include videos and live streams. This collaboration is expected to enhance the performance and reliability of CreatorBid’s platform, essential for developing advanced AI-driven solutions and improving the overall user experience for creators and brands. Moreover, CreatorBid is set to empower creators by allowing them to launch, grow, and monetize their digital presence through customizable AI influencers. The platform utilizes Agent Keys on the Base Network, which serve as membership tokens that foster engagement and value sharing among creators and their audiences. With the native token $AGENT facilitating transactions and governance, CreatorBid aims to redefine the creator landscape by integrating cutting-edge AI tools with blockchain technology. This partnership not only highlights the potential of decentralized GPU networks in content creation and AI development but also positions CreatorBid as a leading AI Creator ecosystem in the industry.
Streamr and JDI Launch Terminal Multi-Miner for Home-Based Crypto Mining cover
a day ago
Streamr and JDI Launch Terminal Multi-Miner for Home-Based Crypto Mining
In a significant development for home-based mining, Streamr, a decentralized real-time data network, has partnered with JDI, a leader in decentralized physical infrastructure networks (DePIN). Together, they are launching the Terminal Multi-Miner, a device that combines multi-token mining capabilities with participation in decentralized protocols. This innovative mining solution aims to provide users with a seamless way to engage with DePIN and the decentralized economy from their homes. The Terminal Multi-Miner supports various cryptocurrencies, including $DATA and $ANYONE, and features a modular design that allows for customization and efficiency in mining operations. The upcoming Terminal T2 model, set to launch in Q1 2025, will enhance the multi-token mining experience by integrating with the Streamr Network. This model will enable users to mine $DATA while contributing to the Streamr protocol, thus simplifying their participation in the ecosystem. The Terminal Multi-Miner is designed to be user-friendly, with plug-and-play functionality that lowers technical barriers, making advanced crypto-mining technology accessible to everyday users. JDI's founder, Yiming Wang, expressed excitement about leveraging Streamr's technology to create a unique mining experience tailored for Web3 users. Matthew Fontana, CEO of Streamr, emphasized the importance of this collaboration in advancing DePIN and decentralized data networks. By providing an accessible entry point for users to engage with the Streamr Network and other Web3 protocols, they aim to enhance the decentralization and scalability of DePIN, which is crucial for its long-term success. With JDI's proven track record in hardware manufacturing and Streamr's expertise in scalable P2P infrastructure, the Terminal Multi-Miner represents a promising step towards making decentralized physical infrastructure a mainstream reality.
Network3: Pioneering Decentralized Edge AI Infrastructure cover
a day ago
Network3: Pioneering Decentralized Edge AI Infrastructure
On November 26, Binance founder Zhao Changpeng expressed his views on meme coins, stating that while he does not oppose them, the focus on such coins has overshadowed promising blockchain projects. This sentiment highlights the potential of projects like Network3, a decentralized edge AI infrastructure that aims to disrupt the AI landscape dominated by large tech firms. By integrating blockchain technology with decentralized physical infrastructure networks (DePIN) and federated learning, Network3 provides a collaborative framework for AI developers while ensuring data privacy and security. The project has seen remarkable growth, with over 100,000 new nodes added recently, bringing its total to over 507,261 across 188 countries, positioning it as a significant player in the DePIN sector. The market outlook for Network3 is promising, particularly as the DePIN and Edge AI sectors are poised for substantial growth. According to reports, the DePIN market could reach approximately $2.2 trillion by 2024 and $3.5 trillion by 2028, while the Edge AI market is expected to grow from $27.01 billion in 2024 to $269.82 billion by 2032. Despite the current market capitalization of the DePIN sector being only $1.33 billion, the potential for rapid growth is evident as more developers and enterprises engage with this technology. Network3's unique combination of DePIN and Edge AI not only enhances data privacy and efficiency but also opens new avenues for investment and application. In terms of token economics, Network3 has a clear model with a total supply of 1 billion tokens, 75% of which is allocated to community incentives through mining and AI model training. The project has successfully secured $5.5 million in funding from notable investors, which will support its technological advancements and global expansion. As the Token Generation Event (TGE) and airdrop approach, Network3 is set to enter a new growth phase, making it an attractive opportunity for long-term investors. With its innovative approach and strong market positioning, Network3 is well-positioned to become a key player in the decentralized AI and DePIN landscape.
Stratos Jets Partners with BitPay to Accept Cryptocurrency Payments cover
a day ago
Stratos Jets Partners with BitPay to Accept Cryptocurrency Payments
Stratos Jets, a private jet franchise based in Florida, has recently announced a partnership with BitPay, a prominent cryptocurrency payments provider. This collaboration, revealed on December 3, aims to facilitate cryptocurrency payments for private charter flights, reflecting the growing acceptance of digital currencies in various sectors. As the market for cryptocurrencies continues to gain momentum, particularly with increasing regulatory clarity, Stratos Jets is positioning itself to cater to a clientele that values innovative payment solutions. The integration of BitPay's services will allow Stratos Jets' customers to pay for their flights using Bitcoin, Ethereum, and over 100 other cryptocurrencies. This move not only enhances the payment options available to clients but also promises lower transaction fees and faster processing times. To incentivize the adoption of these new payment methods, Stratos Jets is offering up to a 5% discount for customers who choose to pay with supported cryptocurrencies throughout December 2024. This strategic decision underscores the company's commitment to adapting to the evolving financial landscape. Joel Thomas, the CEO of Stratos Jets, emphasized the importance of this integration, stating that it enriches their service offerings and provides a secure and seamless payment experience for clients. By partnering with BitPay, Stratos Jets aims to reach a broader audience, catering to those who appreciate luxury travel and cutting-edge payment solutions. This initiative marks a significant step towards embracing the future of finance within the private aviation industry, aligning with the broader trend of cryptocurrency adoption in everyday transactions.