Latest DePIN Funding News

Theta Labs has announced Liner as its latest enterprise customer for Theta EdgeCloud, marking a significant milestone in the realm of generative AI-powered search solutions. Liner, recognized as a global leader in this field and ranked among the Top 10 by Andreessen Horowitz, aims to leverage Theta EdgeCloud to enhance its AI search engine for over 10 million students and researchers. Since the launch of EdgeCloud in June, Theta has gained traction in academic institutions across the U.S. and Korea, with notable collaborations including the University of Oregon and Yonsei University, all focused on advancing AI research. Recently, Liner secured $29 million in Series B funding, led by INTERVEST and Atinum Investment, with contributions from Samsung Venture Investment and others. This funding solidifies Liner's position in specialized information retrieval and supports its rapid expansion in the U.S. market, which boasts over 10 million registered users from prestigious universities. According to Liner's CEO, Luke Jinu Kim, two-thirds of their paying users are from U.S. academia, highlighting the company's strong foothold in this sector. Liner's recognition on the 2024 Emerging AI+X Top 100 list further underscores its growth potential and innovative approach to AI. Liner's AI search engine integrates advanced models such as GPT-4 and its proprietary Liner 7B model, designed for hyper-personalized information retrieval. By employing advanced inference techniques, Liner delivers precise answers from trusted academic sources, catering to the needs of students and researchers. The partnership with Theta will enhance Liner's AI inference capabilities, utilizing EdgeCloud's decentralized GPU resources for faster and more efficient search results. This collaboration not only strengthens Liner's offerings but also aligns with Theta's commitment to providing high-quality infrastructure for academic research.

In a week marked by political tension surrounding the U.S. elections, Solana experienced a notable downturn, losing approximately 14% from October 31 to November 5. However, the mood shifted dramatically on election day when Solana's native token, SOL, surged by over 15%, reaching $187. This rebound was driven by a significant increase in trading volume, which more than doubled to over $6 billion. The optimism surrounding Donald Trump's election win, who has been a vocal supporter of cryptocurrency, is expected to lead to more favorable regulations in the U.S., alleviating concerns about Solana's classification as a security. Despite a generally bearish week for the cryptocurrency market, Solana managed to maintain its upward momentum, outperforming rivals like Ethereum and BNB. The Solana ecosystem showcased impressive metrics, with a total value locked (TVL) in DeFi reaching $6.326 billion, giving it a 7.09% share of the DeFi landscape. Additionally, Solana's dominance in the NFT space is evident, commanding over 40% of daily users and significantly outpacing competitors. Institutional confidence is also on the rise, with DApp investments hitting $173 million in Q3, the highest since 2022. As the race heats up for the first U.S. Solana ETF approval, firms like Canary Capital, VanEck, and 21Shares are vying to launch products that track SOL prices. Solana has recently flipped BNB to become the fourth-largest cryptocurrency by market capitalization, reflecting a wave of market optimism. Furthermore, Solana's DEX trading volume reached 27% market share in October, solidifying its position as a leading player in decentralized trading. With a loyal developer community and high transaction counts, Solana continues to be a major force in the blockchain ecosystem.

Verida, a pioneering project in the realm of data privacy, has recently announced several exciting developments that mark significant milestones for the company. The highlight of these updates is the launch of the Verida Vault Alpha, a secure platform that empowers users to manage their personal data across various applications, including Google and Telegram. This innovative solution not only prioritizes user privacy but also opens up opportunities for developers through newly released APIs, allowing them to create AI agents and data DAOs on Verida's secure infrastructure. The Verida Vault aims to ensure that users maintain control over their data while leveraging privacy-first AI technologies. In addition to the launch of the Verida Vault, the company has garnered recognition as a finalist for the $POL Rush competition organized by the Polygon Network. As one of the top ten projects, Verida will be pitching at an upcoming event in Bangkok during Devcon, showcasing its commitment to providing a private data storage solution that supports Personal and Private AI. The community is encouraged to participate in the Community Choice Awards, as their votes could significantly impact Verida's visibility and success in the competition. Verida is also proud to announce its nomination for the Finder Innovation Awards in Australia, further emphasizing the innovative work being done by the team in the Web3 space. As the company prepares for its participation in Devcon, it is launching a whitelist for Verida AI, granting early access to developers focused on user data privacy. This initiative represents a unique opportunity for builders to explore Verida's capabilities and contribute to the evolution of Personal and Private AI. With these developments, Verida is paving the way for a future where individuals can fully control and benefit from their data, and the team is excited to continue this journey with the community's support.

The world is rapidly transitioning towards a cashless future, with digital wallets at the forefront of this evolution. In countries like Sweden, cash transactions are becoming nearly obsolete, and globally, digital wallets facilitated an impressive $13.9 trillion in transactions in 2023. Experts predict that by 2027, almost half of all payments worldwide will be made using digital wallets. This shift is not merely a trend; it signifies a fundamental change in how we perceive money and conduct transactions, with smartphones increasingly serving as our primary payment method. The modern wallet has transformed from a physical leather bifold to a digital app on our smartphones, housing everything from credit cards to cryptocurrencies. The convenience of digital wallets is a significant draw, allowing users to complete transactions with a simple tap, split bills effortlessly, and enjoy frictionless online shopping experiences. Additionally, digital wallets provide enhanced security through advanced encryption and biometric authentication, making them a safer alternative to carrying cash. Users also benefit from features like expense tracking and budgeting tools, which can greatly aid personal finance management. Despite the advantages, the transition to a cashless society presents challenges, including concerns about privacy and the digital divide. As digital transactions become more prevalent, there is a risk of marginalizing individuals without access to technology. To address these issues, digital wallet providers are implementing stricter data protection measures and developing simplified systems for those less familiar with technology. The future of payments is undoubtedly digital, with innovations such as biometric payments and cryptocurrencies poised to further reshape our financial landscape. As we embrace this cashless world, the benefits of convenience, security, and financial management are clear, signaling a significant shift in our interaction with money.

On-chain liquidity is essential for the effective trading of tokens on decentralized exchanges (DEXs). The recent launch of the Hivemapper Network has led to the organic formation of on-chain liquidity around its token, HONEY. This proposal aims to allocate up to 750,000 HONEY as a promotional incentive for a user-friendly "liquidity vault" that would enhance on-chain liquidity. By increasing liquidity, the Hivemapper Network can reduce price volatility and foster greater confidence in the HONEY economy, ultimately supporting its overall health and efficiency. The mechanics of DEX trading rely on liquidity pools created by individual users who contribute tokens to facilitate trades. Currently, HONEY has around $450,000 in on-chain liquidity, primarily on Solana's Orca DEX. In contrast, other decentralized physical infrastructure tokens on Solana boast over $3 million in liquidity, highlighting the need for HONEY to bolster its liquidity to avoid excessive volatility and inefficiencies in the market. Liquidity providers earn fees based on their contributions, but they also face risks such as impermanent loss, which can deter participation. To counteract this, some projects offer incentives comparable to staking yields to encourage liquidity provision. The proposed liquidity vault will be an experimental program lasting a minimum of three months, with rewards for liquidity providers varying based on their contributions. If approved, the vault is expected to launch in November, in collaboration with partners from the Solana ecosystem. Educational sessions will be held to inform community members about the benefits and risks of participating in the liquidity vault. The Hivemapper community is invited to engage in discussions and provide feedback on this proposal to ensure the network continues to evolve effectively toward its goal of creating the world's freshest map.

Nvidia has achieved a historic milestone by surpassing Apple as the world’s most valuable company, reaching a market capitalization of $3.43 trillion. This achievement followed a 2.9% increase in the company’s share price, pushing it ahead of Apple’s $3.38 trillion valuation. Nvidia's dominance in artificial intelligence chip manufacturing has been a key factor in this growth, with its products becoming essential for major tech companies' AI systems. Since the end of 2022, Nvidia's stock value has skyrocketed by over 850%, driven by strong demand for its AI chips, with analysts projecting significant earnings growth for the company in the coming years. The success of Nvidia has had a ripple effect on the cryptocurrency market, particularly for AI-focused digital currencies. NEAR Protocol, designed for AI applications, saw a 5.46% increase, while Internet Computer experienced a 4.99% rise. Bittensor, a decentralized AI platform, recorded a substantial 14.65% increase. These gains reflect growing investor interest in cryptocurrencies associated with artificial intelligence technology. The Artificial Superintelligence Alliance token and Injective also joined the rally, indicating a broader market participation in AI-related assets. As Nvidia continues to influence the market, it now represents 7% of the S&P 500 Index’s weight, contributing significantly to the index's gains this year. However, the company faces regulatory scrutiny regarding its planned $700 million acquisition of Israeli AI startup Run Labs. This regulatory challenge adds a layer of caution to Nvidia's growth narrative. The simultaneous rise in Nvidia’s stock price and AI cryptocurrency values suggests a market-wide recognition of AI's growing importance, with investors actively seeking exposure to this technology through various investment vehicles, including both traditional stocks and cryptocurrencies.

As the cryptocurrency market gears up for a potential bull run, analysts are spotlighting several altcoins that may experience significant growth. Among these, Bittensor, Solana, and Intel Markets are drawing particular attention. With the backdrop of the US elections, many believe that the outcomes could influence the crypto landscape. Analysts predict that Solana (SOL) could surge to $1,000, while Bittensor (TAO) might reach $1,279. Additionally, Intel Markets (INTL) is forecasted to see a staggering 1,100% increase due to its innovative trading platform. Bittensor has recently been highlighted by Bitcoin veteran Lucky, who shared a bullish price prediction on social media. He emphasized that Bittensor, often regarded as an AI gem, could potentially hit four digits soon. Current trading data shows Bittensor fluctuating between the 200-SMA and 50-SMA, suggesting that the upcoming bull run could catalyze a price rally. As of early November, Bittensor was trading around $393, with analysts optimistic about its future performance as market conditions improve. On the other hand, Solana has faced challenges, particularly after hitting resistance at the $180 mark. Currently trading around $160, Solana's price is supported by key moving averages, indicating that a rebound may be on the horizon. Analysts like Bhr Investor are cautiously optimistic, projecting that Solana could reach between $650 and $1,000 in the upcoming bull market. Meanwhile, Intel Markets is making waves with its AI-driven trading platform, which has raised over $1.7 million in presale. The platform's unique features, including high leverage and an adaptive AI bot, are expected to attract professional traders, further driving the INTL coin's anticipated growth in the coming months.

HUB Cyber Security Ltd., a prominent player in the cybersecurity sector, has recently announced significant developments aimed at bolstering its market presence and enhancing stakeholder value. The company is set to release its financial results for the first half of 2024 by the end of November. Notably, HUB Security has secured a key contract with a leading European bank, which will expand its compliance offerings. This includes the implementation of its advanced NLS (Screening) solution, allowing for efficient customer screening during onboarding and at preferred intervals. Additionally, the company is actively negotiating a collaboration deal with a consortium of Western European banks, further solidifying its position in the market. Looking ahead, HUB Security is strategically preparing for a substantial entry into the U.S. market in the first quarter of 2025. The company's CEO, Noah Hershcoviz, emphasized the importance of research, development, and partnership building to ensure a successful market penetration. With a robust pipeline of contracts for its Secured Data Fabric product and the addition of five new customers in the third quarter of 2024, HUB Security is optimistic about converting its prospects into revenue-generating contracts. The company is committed to providing regular market updates as it achieves key milestones in its growth trajectory. Founded in 2017 by veterans of the Israeli Defense Forces, HUB Cyber Security specializes in cutting-edge cybersecurity solutions designed to protect sensitive information for both commercial and governmental entities. The company has introduced innovative encrypted computing solutions aimed at preventing cyber intrusions at the hardware level. Operating in over 30 countries, HUB Security continues to expand its range of cybersecurity services and products, positioning itself as a leader in the global cybersecurity landscape.

Theta EdgeCloud has introduced a significant enhancement by enabling Theta Fuel (TFUEL) billing for its services. This change positions TFUEL as the primary payment method for EdgeCloud, mirroring its role for the thousands of global Edge Nodes that support the network. Users opting to pay with TFUEL tokens will benefit from a 5% discount on their service fees, which encompass AI inference and training, video livestreaming, and future video/game rendering functionalities. This strategic move not only incentivizes the use of TFUEL but also strengthens its integration into the broader Theta ecosystem. The adoption of EdgeCloud has seen remarkable growth, particularly within academic institutions in the United States and South Korea. Notable universities such as the University of Oregon, Korea University, and Yonsei University are leveraging EdgeCloud's hybrid cloud GPU infrastructure to propel AI research forward. This trend highlights Theta's dedication to fostering academic innovation by providing vital computational resources for complex AI projects. Additionally, corporate clients like Jamcoding, a leader in e-learning coding platforms, are utilizing EdgeCloud to address critical AI applications, including computer vision and large language model training, further embedding EdgeCloud into the Theta token economy. While the support for USD remains essential for attracting Web2 customers, the Theta ecosystem is designed to function as a decentralized economy, where fiat transactions are converted into TFUEL purchases. This ensures that all EdgeCloud activities contribute to the on-chain economy of Theta, even when initiated by non-crypto users. With the recent launch of EdgeCloud Mobile, the potential for integration with the 3.9 billion Android devices worldwide opens new avenues for AI applications. As the AI market is projected to grow significantly, the core payment structure of EdgeCloud will ensure that TFUEL and the Theta token economy remain central to its operations.

In a significant move for the cryptocurrency market, CoinW, a leading trading platform, has announced the listing of GRASS, an innovative decentralized data network aimed at transforming data access for artificial intelligence (AI). The GRASS/USDT trading pair will be available starting October 28, 2024, at 14:00 (UTC). To commemorate this listing, CoinW is launching the "GRASS bounty program: Register & Trade & Retweet," which features a reward pool of 10,000 USDT, incentivizing user participation and engagement within the platform. GRASS operates as a decentralized network that collects and organizes public web data, creating a valuable resource for AI model training. With nearly 2.5 million user-run nodes globally, GRASS has amassed a wealth of data, including over 500,000 media articles. Its unique "Sovereign Data Rollup" approach provides an ethical and community-driven solution to data acquisition, challenging traditional data monopolies. Additionally, the introduction of the Socrates dataset cleaning tool allows users to contribute high-quality, structured data, which is crucial for AI applications. The GRASS token plays a vital role in the network, enabling holders to participate in transactions, staking, and governance. As the network grows, token holders will have the opportunity to stake their tokens, earn rewards, and vote on key decisions. With a total supply of 1 billion tokens, GRASS is designed to promote network growth and user engagement. The project has also fostered a strong community, boasting 468,000 Twitter followers and an active Discord group. By leveraging Solana's efficient technology, GRASS is set to become a significant player in the Web3 landscape, offering a decentralized alternative to conventional data sources.