DEPIN: TRACTION IN SUPPLY & EARLY SIGNS OF INCREASING DEMAND

Summary from the TLDR Crypto newsletter

DePIN shows potential to quickly crowd-source network infrastructure by offering third-party participants token rewards. Hivemapper used dashcams to map 21% of the world's roads with over 60,000 participants in 31 months but has yet to see demand for its maps. Helium, the largest decentralized wireless network, has shown early signs of product market fit with over 90,000 signups for its 5G unlimited phone plan. Both projects reward far more tokens than are being burned, which is expected for their current high-growth plans.