Latest IoTeX News

Decentralized physical infrastructure networks, or DePINs, are rapidly expanding in the blockchain industry. With over 1300 projects and growing, DePINs are transforming various sectors by incentivizing individuals to contribute resources and data. From health tracking rings to WiFi hotspots, browser extensions, and vehicle monitoring devices, DePINs offer innovative ways for users to earn rewards while providing valuable services and data. The new generation of DePINs is focusing on demand-led growth, lowering barriers to entry for contributors, leveraging speculation, and maintaining centralized control during the early stages of development. Projects like Spexi, Natix, and 3DOS are examples of how DePINs are evolving to build sustainable and impactful networks. As the DePIN industry continues to mature, we can expect even more innovation and positive real-world impact from these decentralized infrastructure projects.

Hivello, an investee of Blockmate Ventures, has formed a strategic partnership with IoTeX, a leading blockchain in the decentralized physical infrastructure networks (DePIN) space. The collaboration will integrate Hivello's DePIN aggregator platform with IoTeX's ecosystem, enabling support for new DePINs launched on the IoTeX chain and promoting Hivello to millions of consumers globally. Hivello aims to create a vibrant DePIN ecosystem by leveraging spare computing resources for a sharing economy, targeting both consumers and enterprises. The company is currently raising funds to expand its technology and customer base.

Nubila, a leading data oracle in the Decentralized Physical Infrastructure Network (DePIN) ecosystem, has initiated a fundraising round. The round is led by IoTeX and VeChain, along with the Boston Consulting Group, and has attracted participation from a diverse group of investors including OrangeDAO, MH Ventures, Future Money Group, and others. To date, Nubila has secured $2.5 million in funding. This investment reflects the industry's recognition of Nubila's potential to use AI and tokenization to enhance decision-making, promote sustainable development, and create financial products with ESG data. Nubila's founder, Ben, envisions building the infrastructure for the MachineFi revolution by establishing a network of advanced weather stations and sensors to capture critical environmental data. The integration of real-time ESG data into AI models, such as Microsoft's Aurora atmospheric model, will improve ESG assessments and drive more informed and sustainable decision-making across various industries. With the new funding, Nubila aims to scale its operations and expand its global reach to contribute significantly to the planet's sustainability and well-being. The funds will be used to scale Nubila's operations, develop its ESG Data Oracle, and pursue strategic goals like enhancing data accuracy, expanding the network's reach, and increasing user engagement and awareness of sustainable investment. Raullen Chai, Founder of IoTeX, praises Nubila for leveraging DePIN and AI to transform ESG data management, noting the revolutionary approach of creating a decentralized ESG network of community-owned IoT devices. Nubila has deployed 16,000 advanced weather stations worldwide, capturing over 100TB of weather data for accurate ESG assessments. Headquartered in San Francisco, Nubila is dedicated to transforming sustainability initiatives through innovative solutions within the DePIN ecosystem, using AI and ESG tokenization to empower decision-making and drive sustainable development.

IoTeX has introduced a novel approach in decentralized physical infrastructure networks (DePins) called the Modular DePin Infrastructure, which aims to redefine the creation and functionality of Web3 technologies. This innovation is more efficient and cost-effective compared to traditional infrastructures. The Modular DePin Infrastructure addresses the challenges faced by DePin startups, such as limited funding and technical difficulties, by offering a flexible and community-driven framework. The infrastructure's modular design allows for the assembly of customized applications through various modules, such as hardware abstraction, connectivity, sequencer, data availability, long-term storage, off-chain computing, blockchain, identity, and governance. Developers can select and combine these modules based on their project's specific needs, providing unparalleled adaptability. The modular system's flexibility supports the development of a wide range of DePin applications, including sensor networks, connectivity networks, and computing networks. Significant DePin projects like DIMO, Hivemapper (HONEY), WeatherXM, Helium, Nodle (NODL), Wicrypt (WNT), Render Network (RNDR), and Akash Network (AKT) exemplify the successful application of this modular infrastructure. The connectivity module explores wireless communication techniques to enhance connections within Web3 networks, incorporating technologies like Bluetooth, LoRaWAN, WiFi, and 5G. The sequencer and data availability modules have been adapted from existing solutions to better suit DePin applications, while long-term storage solutions like Filecoin (FIL) and Arweave (AR) meet these applications' storage needs. Blockchain platforms such as Ethereum (ETH), IoTeX, and Solana (SOL) provide essential infrastructure for development.

Binance Futures is set to update the leverage and margin tiers for several USDⓈ-M Perpetual Contracts, including KSMUSDT, DASHUSDT, IOTXUSDT, ASTRUSDT, and KAVAUSDT, starting June 18, 2024, at 06:00 UTC. The update will affect existing positions opened before the change. Traders are advised to review the updated trading rules, leverage and margin requirements, as well as the mark price and price index for these contracts. Binance emphasizes the importance of responsible trading and advises users to assess the risks and potential benefits of their transactions. The platform reserves the right to amend or cancel this announcement without prior notice. Please note that digital asset prices can be volatile, and past performance is not a reliable indicator of future results. Binance is not liable for any losses incurred by users.

Binance Simple Earn has introduced a new update for IoTeX (IOTX) Locked Products, offering users the opportunity to earn up to 11.9% APR rewards. The promotion period for this offer is from June 13, 2024, to July 13, 2024. Users can subscribe to the IOTX Locked Products on a first-come, first-served basis, with minimum subscription amounts and maximum limits applying. The rewards will be distributed daily, and users can start earning by heading to the Earn section and selecting the desired duration for their subscription. It's important to note that Binance reserves the right to adjust the APR at any time after the promotion period. Additionally, users can enable the 'Auto-Subscribe' function to automatically renew their existing Locked Products position into a new one of the same duration upon expiry. Early redemption is also available, but users will not be entitled to any rewards if they choose to redeem their assets in advance. The promotional APR is partly sponsored by Binance's token partner, allowing for a competitive and/or boosted APR for users.

June 12, IoTeX ecosystem AI Layer2 project Network3 recently announced the launch of iOS applications, which have been launched on multiple platforms such as Windows, macOS, Android and Linux. Users can run Network3 nodes according to their device adaptation and get $N3 rewards. Network3 aims to help global AI developers efficiently, conveniently and economically perform large-scale reasoning, training or verification models. It currently has more than 200,000 nodes worldwide, covering 181 countries or regions. IoTeX is a modular AI+DePIN infrastructure platform. Through the unique ioID of physical devices, the physical world data verification platform W3bstream, the visual AI+DePIN data center DePINscan, etc., it can help AI and DePIN projects access Web3 efficiently and at low cost, so as to achieve the possibility of large-scale application. The IoTeX ecosystem has developed rapidly this year. AI and DePIN projects in multiple scenarios, including AI, distributed computing power, energy systems, smart wearables, etc., have been or will be developed and deployed based on IoTeX's modular support.

Decentralized energy network Starpower has completed a $2 million pre-seed funding round, with participation from Alliance, Arweave, IoTeX, Bas1s Ventures, and angel investors including Max Jungreis, Shen Bo, and Sal Gala. Starpower uses the DePIN model to connect energy power equipment like air conditioners, batteries, and electric vehicles, establishing a dispatchable energy management network to improve power efficiency and reduce grid fluctuations, accelerating global energy transformation. Currently, Starpower has 50,000 app and hardware users, aiming to connect over a million power devices within three years and become one of the world's largest distributed energy aggregators.

IoTeX, a DePIN modular Web3 infrastructure platform, has partnered with Nodle, a DePIN network that utilizes smartphones as edge nodes to connect the physical world to Web3. This collaboration aims to enhance interoperability, increase user adoption, and provide more infrastructure modularity. The partnership will be rolled out in phases, starting with Nodle integrating its device network map with DePINscan, making it the largest and fastest-growing DePIN project on the IoTeX platform with over 780,000 mobile devices. DePINscan, launched in August, has become a leading source for DePIN intel, hosting over 40 DePIN projects with a combined market cap of $40 billion. IoTeX has also introduced a new liquidity hub on the Mimo DEX, tailored for DePIN projects, which has seen about $800k of liquidity for the tokens of the 9 DePIN Liquidity Hub launch partners. The integration of Nodle and other large DePIN projects is expected to increase these figures, enhancing composability and ease of use between the two ecosystems.

IoTeX, a leading modular DePIN blockchain platform, is set to host a Demo Day for the first cohort of its DePIN Surf accelerator program on April 30, 2024. Launched in January 2024 with support from FutureMoneyGroup and ForesightX, the DePIN Surf accelerator is dedicated to supporting DePIN founders. DePIN, a technological paradigm, covers any web-3 application with a physical element, including edge-AI and virtual power plants. The first cohort, which was officially launched at the R3al World event at ETHDenver, features seven startups preparing for their Token Generation Event (TGE) and global launch. During the two-month program, founders receive a $50k investment and comprehensive support from the IoTeX core team and a group of elite mentors. The program includes workshops on raising series-A funding, DePIN tokenomics, and community management fundamentals, as well as presentations at global web-3 events. DePIN has been gaining traction in web-3 circles as a key to connecting the crypto industry with the global population of non-crypto natives who rely on reliable physical infrastructure. The number of DePIN projects has grown exponentially from less than a hundred in late 2022 to over a thousand at the time of writing. However, DePIN projects face challenges such as designing and executing hardware manufacturing and distribution, which can take several years, in addition to building the tech stack that includes firmware, middleware, and software. DePIN Surf provides these projects with the support they need. The projects presenting at the Demo Day include: - Inferix: A decentralized GPU computing platform for visual computing and AI inference, with a major market share in Southeast Asia, India, and other developing markets. - Wayru: The world's first DePIN to partner with the UN to tackle the global connectivity crisis, using blockchain and the $WAYRU token to incentivize hotspot deployment and management. - PowerPod: A decentralized EV charging network providing reliable and accessible charging solutions for electric vehicles worldwide. - Network3: A dedicated AI layer-2 providing services to AI developers, helping them train and validate models quickly and efficiently. - StarPower: An AI and Web3-powered global energy network connecting devices in energy generation, storage, and consumption scenarios. - ATOR: A privacy protocol creating a safer, private layer for the internet through its DePIN routing network and signature hardware and software SDK. - DePHY: A decentralized off-chain data messaging network designed to empower DePIN projects to deploy faster and cheaper. IoTeX is a modular Web3 infrastructure platform connecting smart devices and real-world data to blockchains, enabling developers to integrate Web3 into everyday life through various innovations. With the launch of W3bstream, IoTeX has become a leading Decentralized Physical Infrastructure Network (DePIN) technology provider, connecting billions of smart devices, machines, and sensors across the physical and digital world.