Latest DePIN News

Borderless Capital, a leading Web3 investment manager, has announced the launch of its third DePIN-focused fund, a $100 million fund dedicated to accelerating the growth and development of Decentralized Physical Infrastructure Networks (DePIN). The fund is backed by prominent investors like peaq, Solana Foundation, Jump Crypto, IoTeX, GSR, and others. DePIN is revolutionizing the construction and maintenance of physical infrastructure by leveraging blockchain technology and token incentives. This decentralized approach allows for the creation of various applications, such as connectivity networks and GPU clusters, more efficiently and cost-effectively than traditional Web 2.0 models. Notably, the Helium Network and GEODNET showcase the rapid growth potential of DePIN in deploying IoT antennas and RTK networks on a large scale. Borderless Capital's Partner, Álvaro Gracia, expressed confidence in DePIN's transformative potential within the Web3 space, emphasizing its role in setting global standards for deploying physical infrastructure and generating passive income while enhancing user accessibility and reducing costs.

There is a growing interest in Solana DePIN projects, with many seeing it as the next big thing in the crypto world. These projects enable the tokenization of tangible assets such as cellular networks, cloud storage, and computer processing power. The DePIN market has experienced significant growth, currently valued at $20 billion, marking a 400% increase in the past year. Surpassing 300% growth, DePIN has become one of the most profitable sectors in the crypto industry, second only to real-world assets (RWA). The value of DePIN on Solana has exceeded $4 billion, attracting both individual users and companies as AI and machine learning gain popularity. **The Appeal of Solana for DePIN Projects** Solana stands out for DePIN projects due to its speed, cost-effectiveness, and robust infrastructure. Its ability to process transactions quickly and at lower costs compared to other blockchains makes it an attractive choice for DePIN initiatives. The ease of system installation, high speed, and expanding user base further contribute to Solana's popularity among DePIN projects. Let's delve into some notable DePIN projects on Solana: 1. **Render Network**: Render is a decentralized GPU rendering network that migrated to Solana for its speed and cost efficiency. Introducing features like the Render Network Cinema 4D Wizard, which streamlines designers' workflows by supporting native C4D files, Render is also part of Grayscale's Decentralized AI Fund, highlighting its significance in AI. 2. **Get Grass**: This decentralized network leverages unused Internet computing power for web scraping, converting data into AI datasets. With over 2 million users globally, Get Grass launched the Desktop Node and initiated an airdrop, distributing 10% of its total token supply. 3. **Kuzco**: Focused on scalable and cost-effective machine learning, Kuzco operates a decentralized GPU cluster on Solana for LLM inference. Since its launch, Kuzco has experienced remarkable growth, expanding its online GPUs to 11.3K and significantly increasing daily points completed. 4. **Ionet**: Partnering with Chainbase, Ionet enhances its omnichannel data network for AI modeling advancements, aiming to elevate the capabilities of AI applications.

IoTeX and Polygon Labs have announced the integration of IoTeX 2.0 with Polygon’s AggLayer, enhancing cross-chain connectivity and unified liquidity for DePIN projects. IoTeX, a decentralised physical infrastructure network (DePIN) connecting over 18 million devices, will now tap into the AggLayer’s infrastructure, enabling cross-chain communication and liquidity sharing. The AggLayer, known for safely connecting chains, provides a unified bridge across different blockchains, offering advanced tools for success in a multi-chain ecosystem. Enhancing cross-chain capabilities The integration between IoTeX and Polygon Labs dates back to 2021, focusing on real-world NFT and cross-chain bridge initiatives. With this development, projects on IoTeX’s blockchain can distribute rewards programmatically and allow users to settle on their preferred chain. IoTeX’s DePIN Infrastructure Modules (DIM) Layer empowers DePIN projects to manage identities, scale efficiently, and access the growing DePIN landscape, valued at USD 19.7 billion.

Moody’s recent report has brought attention to DePIN, Render, Filecoin, and Helium in the crypto space. Investors are also exploring Pepe Unchained for diversification. In 2017, the crypto market witnessed a surge in prices, with Bitcoin nearing $20,000 by December. The subsequent years saw the DeFi and NFT boom, propelling Bitcoin and Ethereum to new highs by Q4 2021, with BTC almost hitting $70,000 and Ethereum nearing $5,000. Analysts predict another bullish cycle in 2024 and 2025, anticipating fresh all-time highs for crypto prices. Bitcoin recently surged above $70,000, reaching $73,800 post the April 2024 Halving, despite uncertainties surrounding politics and institutional interest. The emergence of DePIN, or Decentralized Physical Infrastructure, has garnered significant interest, with Moody’s providing a comprehensive assessment of its potential impact on infrastructure management. Leveraging trustless ledgers, DePIN platforms aim to enhance efficiency, reduce costs, and drive growth through token issuance to incentivize investor participation and network expansion. However, challenges such as regulatory ambiguity, compliance issues, and cybersecurity risks pose hurdles to widespread adoption, necessitating careful risk management and investment in blockchain integration.

IoTeX, a decentralized physical infrastructure network, and Polygon Labs have announced that IoTeX 2.0 will integrate with AggLayer to power cross-chain communication and liquidity across the DePIN ecosystem. Raullen Chai, the chief executive officer and co-founder of IoTeX, disclosed the partnership on Sept. 17 at the R3al World event in Singapore. As the DePIN market experiences significant growth, developers have focused on innovations that can enhance communication and cross-chain liquidity. Polygon projects tap into IoTeX infrastructure. AggLayer Boosting DePIN Market AggLayer is a decentralized service designed to connect blockchains, enabling projects on different chains to programmatically distribute rewards. The protocol’s infrastructure promotes efficiency and further scales the $19.7 billion DePIN market, according to a press release shared by IoTeX and Polygon Labs. Notably, multiple projects on Polygon have integrated IoTeX technology, including CoinFund and Pantera Capital-backed DePIN project GEODNET, and DIMO, a user-owned network that turns users’ car data into assets.

IoTeX, a DePIN infrastructure platform, is partnering with Polygon Labs to integrate its IoTex 2.0 blockchain with AggLayer. The partnership aims to leverage AggLayer's cross-chain communication and liquidity sharing capabilities. This integration will enable IoTeX-based projects to distribute rewards and allow users to transact on the chain of their choice. The collaboration was announced by Raullen Chai, CEO and co-founder of IoTeX, and Sandeep Nailwal, co-founder of Polygon, at the R3al World event in Singapore. Polygon Labs and other core contributors are developing AggLayer, an interoperability layer designed to provide unified security and liquidity across multiple chains. By implementing ZK proofs, AggLayer aims to mitigate the risks associated with the failure of a single chain. ZK proofs allow parties to verify the accuracy of a statement without revealing the underlying data, enhancing the security and privacy of blockchain systems. In July, IoTeX introduced a white paper for IoTeX 2.0, a technology stack comprising composable modules and a unified trust layer. This stack is intended to drive the adoption of DePIN (Decentralized Physical Infrastructure Network) and is supported by a token economy that connects DePIN dapps, Layer 2 chains, and devices. Chai emphasized that IoTeX's infrastructure will enable seamless connectivity between DePIN developers and AggLayer, empowering users to engage with DePIN applications across various blockchains.

CoindarIoTeX is set to participate in a series of events during the Token 2049 conference. The team will be present at the R3al World conference, a collaborative event organized by IoTeX and Messari. The conference is scheduled to take place from September 16 to September 17. Additionally, IoTeX will also be part of the deAI Summit on September 16th, DePIN Mass Adoption on September 17th, In the World of DePIN on September 19th, and DePIN Day Singapore on September 20th. This participation highlights IoTeX's engagement in the blockchain and IoT community. **IoTeX: Revolutionizing IoT with Blockchain** IoTeX (IOTX) is an open-source blockchain platform tailored for the Internet of Things (IoT) sector, focusing on scalability, privacy, isolation, and decentralized application development. The project aims to tackle IoT ecosystem challenges like security vulnerabilities, high maintenance costs, and scalability constraints. By introducing a novel blockchain architecture, IoTeX supports a vast array of IoT devices. Central to IoTeX is the 'blockchain within a blockchain' concept, where the root blockchain manages network security, while sub-blockchains handle IoT device management and transactions. The native token, IOTX, powers the IoTeX network, facilitating transactions and governance participation.

DePIN company IoTeX has launched its Solana Bridge, aiming to enhance interoperability between the IoTeX and Solana ecosystems. This bridge, leveraging IoTube Bridge Architecture, enables asset transfers and data sharing, fostering collaboration and broader engagement. With a recent funding round of $50 million, IoTeX is focused on accelerating ecosystem growth, following previous initiatives like W3bstream and ioTube to strengthen its position in the DePIN sector. **How Solana Bridge Works** The Solana Bridge by IoTeX connects the two major DePIN platforms, facilitating cross-chain transfers and expanding the reach of Solana DePIN projects. Utilizing IoTube Bridge Architecture, the bridge ensures secure transactions through a two-thirds witness signature consensus mechanism. It supports elliptic curve signatures for different transfers, enhancing interoperability and accessibility for both ecosystems. **Previous DePIN Projects** IoTeX's latest development, the Solana Bridge, builds on the integration of W3bstream into the Solana ecosystem. W3bstream, a Layer-2 protocol for decentralized data processing, enhances scalability and performance by offloading data processing from the main blockchain. With a focus on data integrity and trust, W3bstream is valuable for applications like supply chain management and IoT, reinforcing IoTeX's role as a central platform for DePIN and expanding its ecosystem.

Just when the crypto market seemed to be calming down, today's top gainers are making waves. Theta Fuel surged by 11.19% due to a surprising partnership, while Oasis Network's ROSE saw an 8.48% jump with its groundbreaking privacy technology. ArcBlock and Unizen also experienced gains of 6.15% and 1.33% respectively. Investors are closely monitoring these tokens to understand the unique factors driving their recent success, potentially indicating emerging trends and opportunities. **Analyzing the Top Crypto Gainers** In the cryptocurrency world, every top gainer has a story behind its rise. Understanding the factors propelling these tokens' gains can unveil investment opportunities. Let's delve into the reasons behind the success of Theta Fuel and Oasis Network, shedding light on their recent achievements and future prospects.

AirMoney presented its ground-breaking AirMoney Degn Device at TOKEN2049 in Singapore. This Web3 hardware solution is designed for Decentralized Physical Infrastructure Networks (DePIN), offering a decentralized platform for staking, trading, and gaming. The device goes beyond traditional hardware wallets, allowing users to interact with Web3 protocols in a fully decentralized ecosystem. It features top-tier security with Web3Auth’s MPC technology, ensuring the protection of user assets. The AirMoney Degn Device redefines the role of hardware wallets by enabling users to operate nodes and earn tokens through Proof of Activity. Each device comes with a built-in node that connects to the network, allowing users to earn tokens by engaging with various decentralized applications (dApps). This shift transforms hardware wallets into dynamic tools that empower users with complete control over their cryptocurrency experience. A New Level of Functionality for Web3 Users The device facilitates easy access to decentralized services and applications through collaborations with leading blockchain and dApp providers. Users can trade on Bybit’s spot and perpetual futures platform, adjust leverage with a dedicated lever, and utilize AI-powered tools like Synesis One’s data-labeling dApp and Workspace. The integration offers a wide range of cryptocurrency utilities accessible through a decentralized app store. Notable features include an OLED-powered UI for seamless transactions and dApp interactions, enhancing the overall cryptocurrency experience. Security is paramount, with the incorporation of Web3Auth’s Multi-Party Computation (MPC) technology, which enhances security by distributing private keys across multiple locations to mitigate single points of failure. The device comes pre-loaded with native coins, enabling users to participate in decentralized finance (DeFi) and grow their holdings through PoA distribution as the network expands.