Analysis of Important Projects in the DePIN Track

DoubleZero - The Highway for Web3 Built on Solana

On March 10, as the overall cryptocurrency market showed weak performance, the emerging DePIN project DoubleZero Foundation secured a massive investment of $28 million.

The reason why DoubleZero Foundation was able to secure such a large investment during a market downturn is primarily due to the following reasons:

1. The founding team has extensive experience, with successful cases in the blockchain field and rich ecological resources.

2. The investment lineup is strong, with support from multiple parties including the founder of Solana, demonstrating Solana's emphasis on the DePIN strategy.

3. The technical solution is advanced, aimed at addressing issues at the infrastructure layer of Web3, allowing Web3 projects to operate more smoothly.

DoubleZero adopts a unique dual-ring architecture:

• The outer ring connects to the public internet, using hardware for attack protection, signature verification, and transaction filtering.
• The inner ring processes filtered traffic through dedicated bandwidth lines to build consensus.

This design can effectively reduce the burden on validators, improve communication efficiency, and achieve efficient transaction processing.

Roam - Web3 Starlink built on Solana

On March 6th, the decentralized wireless network project Roam was launched on mainstream trading platforms, with a circulating market value of over 60 million USD, becoming another strong player in the DePIN field of the Solana ecosystem.

Features of the Roam project:

1. Provide seamless and secure WiFi and eSIM connectivity globally.
2. Covering over 190 countries, with 2.3 million users and 2 million WiFi nodes.
3. Utilize OpenRoaming™ WiFi and eSIM technology to ensure users can seamlessly switch between different networks.
4. Use decentralized identity (DID) and verifiable credentials (VC) to protect user privacy and data security.
5. Encourage users to participate in network construction through blockchain incentive mechanisms.

The success of Roam stems from its accumulation in the Web3 field over the years, as well as the support from the Solana ecosystem. Currently, the circulating market value is approximately $15 million, which still has significant growth potential compared to similar projects.

Ecological Observation

As of March 14, 2025, the market capitalization of the DePIN ecosystem based on Solana has reached over 25 billion USD, far exceeding the scale of DePIN projects on other public chains. There are approximately 78 DePIN projects on Solana, covering multiple fields including wireless communication, computing resources, geolocation, and cloud storage.

Reasons why Solana has become the preferred platform for DePIN projects:

1. High throughput and low transaction costs
2. Mature Developer Ecosystem
3. Proof of History (PoH) and parallel processing capabilities are suitable for handling large amounts of real-time data.
4. The Solana Foundation actively promotes the development of the DePIN project, including the establishment of a special fund.

Representative projects include Helium, Render Network, Hivemapper, etc. The total market capitalization of Solana DePIN projects will reach approximately $25.6 billion by June 2024, with the fully diluted valuation of leading projects exceeding $10 billion.

Solana has obvious advantages in the DePIN track, not only in terms of technical performance and cost but also benefiting from strong support from the public chain ecosystem. These factors jointly promote the rapid growth of a DePIN empire ecosystem on Solana.

Recent Important Events in the DePIN Track

1. IoTeX releases 2025 development roadmap, focusing on DePIN + AI ecosystem.

2. During ETHDenver 2025, the DePIN + AI R3al World Summit will be held to discuss the regulatory framework for cryptocurrencies and DePIN + AI.

3. The Solana Foundation and the Solana Chinese Community Solar held a DePIN Day event in Shenzhen, where multiple ecosystem projects participated in showcasing and sharing.

Recent Industry Financing Events

1. Solana ecosystem DePIN project Shaga completes $4 million seed round financing.

2. The DePIN project Geodnet has completed a token financing of $8 million.

3. The DePIN gaming infrastructure platform Beamable has completed a $13.5 million Series A funding.

4. DoubleZero Foundation raised $28 million in investment, led by Dragonfly and Multicoin Capital.