Pioneer in the DePIN Field: IoTeX 2.0 Comprehensive Upgrade

Decentralized Physical Infrastructure Network ( DePIN ), as an emerging vertical in the cryptocurrency industry, is becoming one of the important narratives in this bull market. DePIN reshapes wealth distribution by incentivizing participants with tokens to provide resources, maintain the network, and participate in governance, bringing wealth effects to ordinary people. The industry expects that the DePIN market size could reach $3 trillion in the next 5 years.

Although the concept of DePIN only emerged in 2023, IoTeX was founded in 2017 with the intention of connecting the Internet of Things and blockchain, aiming to help users control smart devices and the data and value they generate. This is essentially the prototype of today's DePIN. It can be said that IoTeX is a pioneer in the DePIN field and an indispensable important public chain.

In July 2024, the IoTeX 2.0 white paper was officially released, presenting the vision of "DePIN For Everyone." The new version adopts a modular platform design and updates the energy structure to meet the rapidly growing demands of DePIN projects and users. This not only showcases IoTeX's years of deep cultivation in the DePIN field, but also establishes its future vision of continuing to improve DePIN infrastructure, developing the ecosystem, and helping global users acquire wealth through DePIN.

In April 2024, IoTeX completed a $50 million financing, with investors including several well-known institutions. This funding will be used to invest in long-term staking of $IOTX( DePIN tokens ), as well as to support DePIN projects on the IoTeX blockchain in cooperation with the IoTeX Foundation and DePINsurf Accelerator.

Infrastructure Upgrade: Building the Most Suitable Modular Public Chain for DePIN

Any ecosystem and field requires mutual support between infrastructure and applications. DePIN has particularly high demands for infrastructure and public goods. IoTeX 2.0 upgrades from a Layer 1 public chain to a modular DePIN open platform, becoming the only ecosystem that supports DePIN in an open, modular, and large-scale adopted manner.

The Infrastructure Module DIM is the core of the IoTeX 2.0 technology architecture, encompassing the entire DePIN technology stack, including identity recognition, off-chain computing, L2 SDK, and public products, among others. These modules together form the essential foundational products for building DePIN projects, allowing projects to select the suitable technology stack based on their needs.

With these infrastructure modules, any team with good ideas and creativity can easily build DePIN projects through IoTeX 2.0. This not only lowers the barrier to entry but also helps turn more ideas into reality, forming an interdependent and composable ecosystem that attracts more users to Web3 and allows them to benefit from it.

In terms of public facilities, IoTeX 2.0 has also achieved significant results:

1. W3bstream: The world's first decentralized off-chain computing infrastructure designed for smart devices and real-world data, solving the verification problems of DePIN projects and devices.

2. DePINscan: A comprehensive DePIN data dashboard that helps users, miners, and investors discover early projects, monitor their growth, and track DePIN asset prices, trading volumes, and market capitalizations in real-time. Currently integrated with over 200 projects, with a total market capitalization exceeding $26 billion, connecting more than 1.2 million Web3 devices.

3. IoPay: Multi-chain AA wallet, providing a convenient channel for Web2 users to enter Web3.

4. IoTube: A cross-chain bridge used to transfer tokens between IoTeX and major L1/L2, providing an important channel for funds entering and exiting IoTeX.

In addition, IoTeX also plans to launch DeviceConnect( to connect W3bstream and various hardware SDKs for L1/L2, as well as IoID) for on-chain and off-chain autonomous digital identity(, further enhancing its infrastructure ecosystem.

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Economic System Upgrade: Building a Comprehensive Economic Flywheel

IoTeX 2.0 introduces a new economic system that expands the utility of IOTX, balances inflation staking rewards and gas fee destruction, and creates a deflationary mechanism in cases such as establishing device identities and obtaining verifiable credentials.

The Modular Security Pool (MSP) is the foundation of the unified trust layer, allowing IoTeX L1 to lease its proof-of-stake security to DIM in exchange for safety and trust. Validators can earn incentives through re-staking, providing security assurance for the project.

MSP is similar to the Restaking mechanism of Eigenlayer, combining node Stake and the upcoming MarshalIDAO staking, allowing IOTX to gain more returns through Stake and Restaking, and introducing market-oriented mechanisms like LSD, forming a positive feedback loop for the practicality and yield attributes of IOTX.

In terms of ecological incentives, IoTeX 2.0 has introduced multiple measures:

1. DePIN Surf Accelerator Program: A $5 million DePIN accelerator program launched in collaboration with multiple institutions, providing funding support and professional guidance for creative new entrepreneurs.

2. DePIN Liquidity Center Program: Inject vitality into young DePIN projects by providing liquidity pool matching of up to $10,000, along with more product support.

3. Marshall DAO: A decentralized autonomous organization adopting an on-chain voting custody management model, allowing stakeholders of the IoTeX project to propose the allocation of IOTX to promote ecosystem growth.

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Ecosystem Upgrade: The Landscape Emerges, The Outbreak is Imminent

The open modular technology, mature infrastructure, and multi-faceted ecological support program of IoTeX 2.0 enable any DePIN project to be easily built and operated on IoTeX. Currently, over 200 projects have integrated into its ecosystem.

With the launch of IoTeX 2.0 speeding up deployment and development, more native innovative projects will be deployed on IoTeX with the help of these infrastructures and incentive programs. IoTeX is expected to become the largest goldmine in the DePIN era.

The initial framework of the IoTeX ecosystem has already formed, with many high-quality projects poised to launch, including the following that are worth paying attention to:

1. Network3: An AI Layer2 project that helps global AI developers conduct large-scale model training or validation, with the number of global nodes exceeding 200,000.

2. Wayru: A shared WIFI infrastructure in collaboration with the United Nations, with mobile downloads exceeding 100,000 and nearly 80,000 active users.

3. Inferix: A decentralized GPU network for visual computing and AI inference.

4. PowerPod: Shared charging pile energy network, building a decentralized energy internet.

5. WatchX: An AI wearable device ecosystem equipped with multi-chain dApps, covering millions of users.

In terms of DeFi, IoTeX has established a comprehensive ecosystem, including DEX ) PinSwap, Loxodrome (, derivative trading platform ) Quenta (, decentralized stablecoin ) Magma (, and Restaking platform ) Bedrock (, etc.

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Conclusion

The launch of IoTeX 2.0 marks a significant milestone in the development of DePIN. Through modular infrastructure DIMs, modular security pools MSP, and an innovative economic flywheel mechanism, IoTeX 2.0 lays a solid foundation for the trillion-dollar DePIN sector. These technological innovations not only enhance the system's security and flexibility but also significantly reduce the complexity of development and deployment. It is expected that in the next 3-5 years, IoTeX will connect 100 million devices, releasing trillions of dollars of real-world value on the blockchain, demonstrating enormous development potential and broad prospects.

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