Xyo Network has integrated more than 10 million nodes into its decentralized physical infrastructure network (Depoline), said co-founder Markus Levin in Cointelegraph in an interview.
The nodes mainly include human users who provide data in exchange for awards via the network’s mobile application, Coin. “The vast majority of our 10 million nodes are mobile users, but some are IoT devices like smart speakers,” Levin on Cointelegraph told.
About 80% of Xyo users are non-crypto natives who participate in Web3 for the first time, he added.
They include truckers, carpooling drivers, deliverers and nurses among others, said Levin, adding that “95% are converting after integration via the Coin application”.
In relation: TPP XYO launches on Solana
TOKENOMICS DEPIN
In exchange for data, Xyo attributes its user points that can be traded for their native Xyo token, as well as “BTC, ETH or even gift cards,” he said.
In October 2024, Xyo weld his native token in Solana (ground) in order to reach more users. The XYO token has a market capitalization of around 180 million dollars on May 2, according to CoinmarketCap data.
Xyo wins income by collecting and validating data in sectors ranging from active world (RWAS) to the game. He then uses part of this income to buy XYO.
In January, Xyo launched his layer 1 blockchain, which brings together real data from the nodes of Xyo on a large public book.
The validators of the network mark XYO and earn rewards denominated in XL1, the newly launched gas token.
Depines are blockchain protocols aimed at decentralizing infrastructure and real world systems, including communication networks, data warehouses, energy markets, etc.
They are part of the “next great use of web3[s]”, With the potential to embark” a significant number of new users in cryptographic space “, according to a September 2024 MV report, a web investment company.
According to MV Global, the deputy ecosystem includes more than 1,000 projects and represents around $ 50 billion in total market capitalization.
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