Latest DePIN Funding News

September marked a transformative month for CUDOS, characterized by significant developments, impressive growth metrics, and strategic partnerships. A highlight was the proposal for CUDOS to join the Artificial Superintelligence Alliance (ASI), aiming to synergize AI and cloud computing for sustainable innovation. The community's enthusiastic response culminated in a successful vote for the merger, paving the way for a new chapter in CUDOS's evolution. Detailed resources, including a voting guide and migration steps for the upcoming token merger with $FET, have been made available to assist users in this transition. The month also witnessed remarkable operational achievements, with a staggering 8,475 new virtual machines (VMs) deployed, reflecting a 159% increase from the previous month. This surge brought the total number of VMs across the CUDOS Intercloud to nearly 30,000. Additionally, the user base surpassed 11,000, and the platform logged over 500,000 compute hours, showcasing the diverse workloads being supported. Financially, CUDOS generated over $700,000 in revenue, underscoring its robust performance and growing adoption in the market. Infrastructure expansion was another key focus, with the establishment of new data centers in Norway and the USA, enhancing global computing capabilities. These facilities are equipped with advanced hardware to ensure efficient service delivery. Furthermore, CUDOS engaged with the community through events and discussions, including an AMA with CEO Matt Hawkins, who emphasized the merger's potential benefits. The media also recognized these milestones, with coverage in platforms like Cointelegraph, highlighting CUDOS's commitment to advancing AI and decentralized computing. Looking ahead, CUDOS is poised for continued growth and innovation, thanks to the unwavering support of its community.

XProtocol has officially announced the launch date for its innovative crypto-powered Android phone, the XForge, set for October 30, 2024. This entertainment-focused Ethereum layer-3 network is offering a pre-sale of 10,000 units, each priced at $299. The launch follows a successful Xardian node sale aimed at empowering and rewarding communities. According to Dragonix, a contributor to XProtocol, the initial pricing is expected to increase after the first batch. Each phone will also come with free Xardian Nodes, allowing users to participate in the DePIN network and earn various cryptocurrency-based incentives directly from their devices. In addition to the phone launch, XProtocol has completed multiple fundraising rounds totaling $5.2 million, with participation from notable investors such as Dragonfly Capital, Coinfund, and Razer. The company’s unique proposition lies in its use of Base superchain technology, which provides a scalable and developer-friendly platform for entertainment and gaming projects. XProtocol is compatible with all Ethereum Virtual Machine (EVM) projects, facilitating easy migration and offering tools for developers. The upcoming dApp store on the phone will serve as a gateway for users to access web3 applications built on the XProtocol superchain. The XForge is designed with high-end specifications tailored for gaming, featuring an Octa-Core CPU, Dual Nano SIM capability, a 6.67” AMOLED display, 8GB of RAM, and 256GB of storage. The inclusion of Xardian nodes aims to enhance network decentralization, with operators earning rewards for their participation in the consensus process. Furthermore, XProtocol has locked in 20% of its total token supply for node license holders, to be distributed over 36 months following the mainnet launch later this year. With a team experienced in web3 gaming, XProtocol is poised to revolutionize blockchain-based gaming, enabling creators to develop and scale consumer-focused products effectively.

Helium (HNT) has recently garnered significant attention as it approaches a critical breakout zone, with potential for a price surge if it can overcome key resistance levels. Trading at $7.08 at the time of reporting, HNT has experienced a notable 17% increase over the past week. This upward momentum has brought the token close to a pivotal resistance level at $8.00, raising the question of whether HNT can maintain this momentum and trigger a larger bullish rally. The formation of a symmetrical triangle pattern on Helium's chart suggests that a significant price movement may be imminent, particularly if the token can break through the upper trendline of the triangle. Technical indicators present a mixed outlook for HNT. The MACD shows positive signals, with the MACD line crossing above the signal line, indicating upward momentum. Additionally, the histogram has turned green, reinforcing a bullish perspective. However, the Stochastic RSI indicates that HNT is currently in the overbought zone at 98, suggesting a potential brief pullback before any further upward movement. If this pullback remains minor, it could pave the way for another surge in HNT's price, supporting the overall bullish narrative. Whale accumulation further underscores the growing confidence in HNT, as large investors control 58.86% of the stablecoin supply, indicating strong interest among major players. The Open Interest (OI)-Weighted Funding Rate for HNT also reflects increasing bullish sentiment among futures traders, sitting at 0.0192%. This suggests that more traders are betting on price increases, willing to pay to maintain their long positions. As traders remain cautious of potential short-term pullbacks, the focus will be on whether HNT can break above the $8.00 resistance and sustain its upward trajectory towards $9.00 or beyond.

The Streamr team has reached a significant milestone with the completion of their 1.0 Mainnet, marking the end of their 2017 roadmap. This achievement allows the team to transition from research and development to focusing on full protocol adoption. The overarching goal remains to revolutionize the data streaming landscape through decentralized, peer-to-peer technology. The team has successfully built a feature-complete decentralized publish/subscribe network, incorporating elements such as censorship-resistant messaging, end-to-end encryption, and a robust tokenomics model designed to incentivize operators. However, the journey ahead involves redefining a multi-billion dollar industry dominated by established players, and the team is calling for community support to achieve this vision. Currently, the Streamr DAO is voting on SIP-22, which proposes to unlock an additional 100 million DATA tokens from reserves to fund ongoing development as existing funds are projected to run out early next year. The current monthly project expenses are around $230,000, with a notable decrease in development costs since the completion of major tech building blocks. The allocation of resources is strategically focused on marketing, protocol development, and operational costs, with the aim of achieving a 30% growth in network usage and diversifying funding sources. The team is also prioritizing the delivery of high-profile use cases, including live video broadcasting, to demonstrate the network's capabilities. Streamr is actively pursuing commercial adoption across various sectors, including decentralized physical infrastructure networks (DePIN), live video streaming, defense communications, and AI integration. The team has onboarded multiple partners and is exploring innovative use cases that leverage the unique strengths of the Streamr Network. With a focus on enhancing video delivery and establishing secure communication channels for defense applications, Streamr aims to position itself as a leader in decentralized cloud technologies, contributing to a more resilient data management ecosystem. As the community prepares to vote on SIP-22, the team emphasizes the importance of collective participation in shaping the future of the Streamr Network.

Last week, the Gitex Global Conference took place from October 14th to 18th in Dubai, UAE, where our team had the opportunity to collaborate with our partner Grenton. This annual event serves as a significant platform for fintech decision-makers to connect, share ideas, and network. Located at the Dubai World Trade Centre, Gitex Global attracted tens of thousands of participants, including entrepreneurs, investors, and industry insiders. Our focus during the conference was to showcase the integration of blockchain technology with AI and Smart Home solutions, emphasizing their potential benefits for sustainability and the development of smart cities. During the event, we engaged with key decision-makers and investors, presenting how our joint solutions can enhance community engagement and facility management through innovative technologies. Notably, Bartlomiej Gierszyn, CEO of Grenton, delivered a presentation during the Tech Talks segment of Gitex 2024. He highlighted the aggregation of data from smart homes for notifications and alerts, the role of AI in facility management, and the application of blockchain for fostering community engagement. This presentation not only provided valuable insights but also sparked significant interest among potential investors and attendees. Overall, our experience at Gitex Global was highly productive, allowing us to expand our network and generate interest in our collaborative solutions with Grenton. We believe that the conference could have been even more beneficial with a longer duration, as the discussions and networking opportunities were incredibly valuable. To stay updated on our developments and future initiatives, we encourage following our social media channels.

Huddle01, a pioneer in decentralized real-time communications (dRTC), has launched a whitelist for its upcoming node sale, aiming to revolutionize audio and video conferencing. This initiative marks the first Decentralized Physical Infrastructure Network (DePIN) specifically designed for real-time communication. By leveraging unused internet bandwidth through node operators, Huddle01 enables seamless communication that can rival established platforms like Zoom and Google Meet. Since its inception, Huddle01 has facilitated over 7 million minutes of meetings across more than 100,000 events, and the addition of new nodes is expected to enhance connectivity in emerging markets while allowing node license holders to earn rewards. The Huddle01 Media Nodes serve as the backbone of this innovative network, addressing the high operational costs and latency issues associated with centralized RTC networks. By significantly reducing the reliance on traditional data centers, Huddle01 can lower developers' server costs for audio and video calls by up to 95% compared to conventional services like AWS. CEO Ayush Ranjan emphasizes that the media nodes will improve latency, particularly in regions with a dense cluster of nodes, thus providing a competitive edge over existing web2 solutions. The platform's native app, Huddle01 Meet, integrates web3 tools, allowing users to connect wallets and utilize NFT avatars, further enhancing the user experience. The node sale will offer 46,900 Huddle Media Nodes, starting at $320 each, and will occur in two phases. The first phase will see 20,000 nodes available for purchase, with participants receiving an NFT key upon purchase. The sale is structured to reward early participants with higher returns. Additionally, an incentivized testnet will launch shortly after the sale, rewarding active node holders with $HUDL tokens. With a total supply of 200 million $HUDL, the project aims to engage a broad user base and enhance the decentralized communication landscape.

In a recent analysis of a16z's report on the "State of the Crypto Industry," Lily Liu, Chair of the Solana Foundation, highlights a notable EVM bias that overlooks Solana's impressive achievements in transaction fees, NFTs, and the DeFi market. Despite Solana leading in NFT addresses and transaction volume over the past year, the report fails to acknowledge significant innovations in decentralized physical infrastructure networks (DePIN), such as Helium and Hivemapper, which thrive within the Solana ecosystem. Liu argues that the report's binary framework, which positions EVM and non-EVM ecosystems as oppositional, misrepresents the true landscape of blockchain development and user engagement. Liu emphasizes the importance of transaction fees as a more meaningful metric for assessing ecosystem activity and health, rather than relying solely on active addresses or Total Value Locked (TVL). Since introducing a fee market, Solana's transaction fee market share has surged from below 1.5% to consistently above 10%, peaking at 25% in July 2024. This shift indicates a growing economic value within the Solana ecosystem, narrowing the gap with Ethereum when considering Real Economic Value (REV). Furthermore, Liu critiques the report's gaming sector analysis, which fails to adequately include non-EVM networks like Solana, leading to incomplete comparisons that do not reflect the full blockchain gaming ecosystem. Additionally, Liu points out that the report's focus on TVL for DeFi comparisons is insufficient, as it overlooks critical metrics such as transaction volume. While Solana's TVL is only 10% of Ethereum's, its monthly DEX transaction volume often exceeds that of Ethereum, highlighting its capital efficiency. Liu also notes that Solana's low transaction costs have driven significant consumer behavior changes, exemplified by the success of platforms like Drip Haus. The absence of DePIN innovations within the report raises questions about its comprehensiveness, as groundbreaking projects like Helium and Hivemapper are primarily developing within the Solana ecosystem, showcasing the real-world applications of decentralized networks.

Crust Network, a prominent player in decentralized storage solutions, has announced a new partnership with Yoghourt Cloud through its Crust Grants Program. This collaboration aims to enhance the functionality of the InterPlanetary File System (IPFS), thereby improving the scalability and usability of the decentralized web. Yoghourt Cloud, a decentralized storage platform that utilizes the IPFS protocol, will receive funding to support its development efforts. The grant will focus on optimizing storage and retrieval processes, ensuring faster and more reliable file access for users, while addressing key challenges in decentralized storage such as data availability and latency. The objectives of this grant project are multifaceted. Firstly, Yoghourt Cloud plans to leverage Crust’s advanced storage architecture to develop more efficient storage management techniques for IPFS. This includes upgrading storage protocols and enhancing retrieval speeds to improve overall performance. Additionally, the integration of Crust’s decentralized storage capabilities into Yoghourt Cloud will provide users with a robust and scalable solution for their data storage needs. The project also aims to implement user-friendly upgrades, such as faster file uploads and smoother retrievals, which will enhance the overall user experience across the platform. Crust Network's commitment to decentralized storage infrastructure for Web3 is further exemplified through this grant. By supporting innovative projects like Yoghourt Cloud, Crust seeks to make IPFS more practical and accessible to a broader audience. This partnership not only marks a significant step in improving decentralized storage systems but also aims to strengthen the IPFS ecosystem, benefiting a wide range of decentralized applications (dApps). Together, Crust and Yoghourt Cloud are set to drive the future of decentralized storage, exploring new possibilities and optimizing existing solutions for Web3 applications.

In a groundbreaking announcement, C4E has partnered with Native to enhance the utility of Bitcoin within its ecosystem. This collaboration leverages Native's Bitcoin Liquidity and Interoperability Scaling Stack (BLISS), which aims to integrate Bitcoin into C4E's energy and e-mobility products. By doing so, C4E seeks to empower Bitcoin as a valuable asset within its network while simultaneously contributing to the green transformation of both the Bitcoin and energy industries. The immediate focus will be on integrating BLISS with C4E's existing Layer 1 DePIN Blockchain infrastructure, enabling users to access native Bitcoin across the C4E and IBC ecosystems. The integration of BLISS will allow C4E's energy and e-mobility products to benefit from Bitcoin's liquidity and security. Users will be able to engage in cross-chain transfers, manage multi-chain liquidity, and explore innovative use cases. This partnership marks a significant advancement in incorporating Bitcoin's robust security and liquidity into Cosmos-based applications, paving the way for staking services, collateral deployment, and advanced trading strategies within the C4E and IBC ecosystems. Looking ahead, C4E plans to explore Bitcoin restaking, which would enable BTC holders to actively participate in securing the C4E and IBC ecosystems. This shift could transform Bitcoin from a passive store of value into an active participant in the security of interconnected chains. The introduction of these services is expected to create new financial primitives and unlock economic opportunities for Bitcoin holders, as well as for the broader C4E and IBC networks. Together with Native, C4E is committed to fostering a future where Bitcoin plays a pivotal role in decentralized applications and market dynamics, contributing to a more sustainable energy and e-mobility landscape.

Helium (HNT) has recently shown remarkable resilience in a generally bearish cryptocurrency market, gaining approximately 12% over the past week. As of the latest updates, HNT is trading at $6.88, having outperformed Bitcoin (BTC) and many other decentralized physical infrastructure (DePIN) tokens. This surge in price is attributed to increased buying pressure, as indicated by the Relative Strength Index (RSI) crossing above 50 for the first time in over two weeks. Additionally, network activity has spiked, with weekly fees reaching a three-month high, further fueling bullish sentiment among investors. The technical indicators surrounding HNT suggest a potential for continued growth. The Moving Average Convergence Divergence (MACD) has shown a bullish shift, crossing above the signal line, although it remains in negative territory. This indicates that while there is growing strength among buyers, the overall trend has not yet fully reversed. The V-shaped recovery observed on the daily chart reinforces the notion that HNT is rebounding strongly after a previous decline. If the current buying momentum persists, HNT could reach the 1.618 Fibonacci level of $7.81, marking a complete recovery from its recent lows. Moreover, the derivatives market is witnessing increased interest in HNT, with futures trading volumes rising by 60% and Open Interest climbing to its highest level in nearly three weeks. This uptick in speculative activity could lead to increased volatility in HNT's price. The Long/Short Ratio of 1.04 indicates a balance between long and short positions, suggesting that traders are cautiously optimistic about HNT's upward trajectory. Despite a positive crowd sentiment, it is noteworthy that smart money remains bearish, highlighting a divergence in market perspectives that could influence HNT's future performance.