{"id":24961,"date":"2025-05-02T18:31:41","date_gmt":"2025-05-02T18:31:41","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=24961"},"modified":"2025-05-02T18:31:41","modified_gmt":"2025-05-02T18:31:41","slug":"xyo-network-tops-10m-depin-nodes-co-founder","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=24961","title":{"rendered":"XYO Network tops 10M DePIN nodes \u2014 Co-founder"},"content":{"rendered":"
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\"XYO<\/p>\n

XYO Network has onboarded more than 10 million nodes to its decentralized physical infrastructure network (DePIN), co-founder Markus Levin told Cointelegraph in an interview.<\/p>\n

The nodes mostly comprise human users who provide data in exchange for rewards via the network\u2019s mobile application, COIN. \u201cThe vast majority of our 10 million nodes are mobile users, but some are IoT devices like smart speakers,\u201d Levin told Cointelegraph.\u00a0<\/p>\n

Approximately 80% of XYO\u2019s users are non-crypto natives who are participating in Web3 for the first time, he added.<\/p>\n

They include truckers, rideshare drivers, delivery people, and nurses among others, Levin said, adding that \u201c95% convert after onboarding through the COIN app.\u201d<\/p>\n

\"XYO
XYO launched a layer-1 blockchain network in January. Source: <\/em>XYO <\/em><\/a><\/figcaption><\/figure>\n

Related: <\/strong><\/em>DePIN XYO launches on Solana<\/strong><\/em><\/a><\/p>\n

DePIN Tokenomics<\/strong><\/h2>\n

In exchange for data, XYO awards its users points that are redeemable for its native XYO token, as well as \u201cBTC, ETH or even gift cards,\u201d he said.\u00a0<\/p>\n

In October 2024, XYO bridged its native token to Solana<\/a> (SOL<\/a>) in a bid to reach more users.\u00a0The XYO token has a market capitalization of roughly $180 million as of May 2, according<\/a> to data from CoinMarketCap.<\/p>\n

XYO earns revenue by collecting and validating data in sectors ranging from real-world assets (RWAs) to gaming. It then uses a portion of that income to buy back XYO.\u00a0<\/p>\n

In January, XYO launched<\/a> its layer-1 blockchain, which collates real-world data from across XYO\u2019s nodes onto a public ledger.\u00a0<\/p>\n

The network\u2019s validators stake XYO and earn rewards denominated in XL1, the network\u2019s newly-launched gas token.\u00a0<\/p>\n

\"Proof-of-Stake,
XYO has a market capitalization of around $180 million. Source: <\/em>CoinMarketCap<\/em><\/a><\/figcaption><\/figure>\n

DePINs are blockchain protocols aimed at decentralizing real-world infrastructure and systems, including communications networks, data warehouses, energy markets, and more.<\/p>\n

They are among Web3\u2019s \u201cnext big use case[s],\u201d with the potential to onboard<\/a> \u201ca significant number of new users to the crypto space,\u201d according to a September 2024 report<\/a> by MV Global, a Web3 investing firm.<\/p>\n

According to MV Global, the DePIN ecosystem comprises upward of 1,000 projects and represents roughly $50 billion in total market capitalization.<\/p>\n

Magazine:\u00a0<\/strong><\/em>10 crypto theories that missed as badly as \u2018Peter Todd is Satoshi\u2019<\/strong><\/em><\/a><\/p>\n