Deep Dive: Solana DePIN - January 2025

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Syndica Deep Dive: Solana DePIN - January 2025

Solana leads in DePIN device count. Uprock on Solana leads all chains in device count with its seamless onboarding—users can turn smartphones into Uprock devices with a quick app download.

Total active contributors cooled to start 2025. The start of 2025 saw an 11% drop in contributors across DePIN protocols.

DePIN revenues return to pre-Q4 2024 levels. Combined monthly revenues from Helium, Hivemapper, and Render dropped 68% month-over-month. Helium remains the standout, with over 100% revenue growth since June 2024.

Contributor growth cooled at the start of the year. Average contributor growth, measured relative to June 2024, has declined by 15% month-over-month. Nosana, with relatively fewer contributors, was the only protocol to show positive growth in January.

XNET saw the highest increase in average rewards per contributor. Average rewards per contributor increased slightly for Nosana and XNET, while other DePIN protocols declined, revealing a divide in growth dynamics.

Retention rates have been trending higher for newer contributors.

Part I: Mapping

Hivemapper's active map contributors reached an ATH. In January, contributors increased by 22% as Hivemapper began shipping its new Bee dashcam, an upgraded device that reduces map-refreshing costs compared to competitors.

Hivemapper's ecosystem thrived in January. The protocol added 19M kilometers of new mapped data. Contributors played over 800M AI trainer games cumulatively, which helped train Hivemapper’s AI to extract map data from images and build fresh maps.

Part II: Wireless

Roam surpassed 2M users as new WiFi setups soared. January’s growth was likely fueled by three new initiatives: an ambassador program to boost awareness, a Roam device loan program, and a points-burning program ahead of the token generation event.

XNET has recently outpaced Helium's month-over-month growth in data offloading.

Helium Mobile offload demand reached $100k for the first time. Although total demand cooled in January, with an 8% decline in data credits burned, offload carrier-driven demand grew by 12%, indicating increased adoption.

Helium Mobile’s carrier offloading growth accelerated in January. The average number of offload subscribers and offload data grew significantly faster than in December, highlighting strong momentum.

Helium Mobile offload and onboarded hotspots expanded in January. Average data hotspots grew by 9%, while new mobile hotspot onboarding surged by 47%. Helium’s January partnership with DAWN will further expand its network, integrating 8,000 DAWN ecosystem nodes to boost coverage and connectivity.

XNET offload data set a new ATH in January.

In the final epoch of January, XNET rewards and contributors reached all-time highs. The protocol maintained its upward trend in active contributors, reinforcing a strong and expanding ecosystem.

Part III: Compute, AI, & Data

Nosana inferences rebound with mainnet launch. Inferences surged by 24% following Nosana's mainnet launch on January 14. The number of active GPU operators declined, even after approval requirements for new entrants were removed.

Community market inferences reached an ATH in market share. Around Nosana’s mainnet launch, community markets were officially introduced to onboard new GPUs. This system allows users to test their setups and prove reliability before full integration.

Render revenue cooled at the start of 2025. Following its peak revenue month, Render saw an 80% decline. However, the newly announced AI Scouts Program, aimed at partnering with AI startups to leverage its GPU network, could drive future growth.

Kuzco’s GPU supply returned to normal levels. A new client update introduced OpenAI-API compatible batch processing, but GPUs that didn’t upgrade went offline, stabilizing supply at normal levels.

Part IV: Energy

Srcful hit ATHs in active gateways and power production. In January, installed gateways rose by 22%, while power production grew by 21%. Growth was likely driven by new initiatives, including daily point tracking, Huawei inverter integration, and the launch of an Android app.

Part V: Notable Developments

Hivello: Hivello is a DePIN aggregator enabling users to mine DePIN protocols by contributing idle resources like GPUs. The protocol recently closed a funding round.

Gradient Network: Gradient Network is building a decentralized edge compute platform for content delivery and serverless computing. It recently surpassed 1M active nodes across 189 regions.

Ambient Network: Ambient operates a network of environmental sensors, providing ambient data. It now has 1,000 sensors deployed across franchises like KFC, Taco Bell, and Five Guys.

Powerledger: Powerledger leverages blockchain for renewable energy. The protocol reminted its token on Solana in January and was featured in the CryptoValley VC Top 50 Report.