Deep Dive: Solana DePIN - February 2025

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Syndica Deep Dive: Solana DePIN - February 2025

Major DePIN protocols' revenues have stabilized in 2025. Helium, Hivemapper, and Render together hold monthly revenues steady around $350k.

Nosana tops contributor growth. Nosana uniquely doubled its active contributors, achieving 100% growth in February.

XNET boosts contributor rewards. XNET alone saw average rewards per contributor rise, while other DePIN protocols faced declines.

Part I: Wireless

XNET offload data set another ATH in February. Average daily data offloading jumped 40% in February, marking a standout surge.

XNET contributors and rewards took off. In the latest epoch, total $XNET rewards rose 24%, while active contributors grew 34%.

Helium Mobile had its best month in almost a year for new subscribers. New subscribers surged 9x, pushing cumulative totals to 145k, likely fueled by a new free plan offering 3GB data, 100 minutes of calls, and 300 texts.

Data offload now dominates Helium Mobile demand. Since launch, data offloading’s share of tokens burned has grown relentlessly.

Helium Mobile's new onboarded hotspots accelerated. New mobile hotspot activations rose 57% in February.

Roam surpassed 2M cumulative WiFi setups. Following months of strong growth, new WiFi setups and user registrations dipped in February. Roam’s new certification program aims to boost network quality, ranking WiFi networks and users by reliability and activity.

Part II: Mapping

NATIX hit an ATH in revenue for demand on its geospatial data. As platform revenue and fees reached new highs, Natix's token burn surged 29% to a record 42 million. With the VX360 launch, further growth is expected.

Hivemapper's revenue rebounds. Demand surged 3x in February after late-month announcements of new mapping data clients like MapBox.

Hivemapper’s active map contributors cooled. After peaking, Hivemapper’s active map contributors dropped back to typical levels.

Part III: Compute, AI, & Data

Nosana's ecosystem thrived in February. Active operators hit 1k for the first time, and monthly jobs increased by 21%, where each job can generate multiple inferences.

Render's revenue shows signs of recovery. After a steep January drop, revenue ticked up 9%. OTOY’s product director shared plans to grow Render’s reach with enhanced tools and compute power for creators.

Part IV: Energy

Srcful power production hits a new all-time high. Installed gateways climbed 21%, boosting power production by 77%. Helping to drive further growth, Srcful announced a new partnership with Entropy to enable dual mining of Srcful points and Entropy tokens.

Part V: Notable Developments

DeCharge is an EV charging network. Last December, they launched their first product, DeCharge Beast, which allows users to charge EV vehicles while earning DeCharge points and real revenue.

Previously Ambient Network, Ambios operates a network of environmental monitoring sensors that provide real-world data. It recently conducted its token generation event.