@zhangmashu
DePIN Growth Logic
DePIN projects bootstrap infrastructure via the flywheel effect: tokens incentivize early contributors to deploy physical resources (e.g., hotspots, storage, compute), expanding supply and coverage. This attracts users, generates real demand (fees, usage), and creates network effects that drive further participation and scalability.
Token Value Capture Mechanism
Value accrues through:
Usage fees paid in tokens (burn-and-mint equilibrium, e.g., Helium/Hivemapper)
Token burns or buybacks reducing supply
Staking/governance tying utility to network growth
Revenue sharing from services, aligning token value with real-world adoption rather than pure speculation.
This creates sustainable, usage-driven economics.
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