XYO network tops 10m Depinknot co-founder

The XYO Network has led greater than 10 million nodes for its decentralized physical infrastructure network (depin) on board, co -founder Markus Levin told CoinTelegraph in an interview.

The nodes mainly include human users who provide data in exchange for rewards via the mobile application of the Coin network. “The overwhelming majority of our 10 million knots are mobile users, but some are IoT devices like Smart Speakers,” Levin told CoinTelegraph.

He added roughly 80% of XYO users of XYO, who participate in Web3 for the primary time.

These include truckers, drivers, delivery officers and nurses, said Levin and added that “95% is being rebuilt after installing the Coin app.

XYO began a Layer 1 blockchain network in January. Source: XYO

Depin tokenomics

In return for data, XYO characterizes its users points that could be redeemed for his native XYO token and “BTC, ETH and even gift cards”, he said.

In October 2024, XYO bridged his native token to Solana (SOL) to achieve more users. According to Coinmarketcap, the XYO token has a market capitalization of around 180 million US dollars on May 2.

XYO generates income by collecting and validating data in sectors that range from real assets (RWAS). It then uses a part of this income to purchase XYO back.

In January, XYO began his Layer 1 Blockchain, through which real data from XYO's nodes collects to a public general book.

The network's validators are XYO and earn rewards in XL1, the newly launched gas token of the network.

XYO has a market capitalization of around 180 million US dollars. Source: Coinmarketcap

Depin are blockchain protocols that aim to decentralize the true infrastructure and systems, including communication networks, data warehouses, energy markets and more.

They are among the many “next major use cases of web3[s]”With the potential to” end a substantial number of latest users into the cryptor room, “said a report by MV Global in September 2024, a Web3 investment company.

According to MV Global, the DEPIN ecosystem comprises over 1,000 projects and corresponds to a complete capitalization of your entire market capitalization of around 50 billion US dollars.