What’s New in DePin? OKX Lists GRASS on Pre-Market, Aethir Launches $100 Million Fund, and More
Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure.
Here’s what happened in DePin sector recently: OKX listed GRASS token pre-market futures, Aethir announced a $100 million AI/cloud gaming fund, and LunarCrush ranked top DePIN projects by mentions.
OKX Listed Grass on Pre-market Futures
OKX has listed the GRASS token, the native asset of the Grass DePIN project, on its pre-market futures platform. This feature allows users to trade USDT-margined futures on tokens before their official listing. The GRASS futures went live on October 14, 2024, at 7:30 am UTC.
Grass, a decentralized network, enables users to monetize unused bandwidth by selling it to vetted companies. The project, developed by the Wynd Network, seeks to create a fairer and more secure marketplace for proxy services. Users actively earn tokens as rewards for sharing their internet resources, which they can also use to participate in governance decisions within the ecosystem.
Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?
In parallel, the Grass Foundation has scheduled the release of the final checker for “Airdrop One” on October 21, 2024. This airdrop is projected to be the most widely distributed in crypto history.
“Claims are not open and will not be live on October 21st — it’s just a checker. Be cautious and avoid scams. There are no on-chain transactions to sign at this time,” the team wrote.
Aethir Announced $100 Million Ecosystem Fund
Aethir, a decentralized GPU-as-a-service network, has launched a $100 million Ecosystem Fund to develop AI and cloud gaming initiatives. A major part of this fund will be allocated to the Aethir Catalyst program, offering grants between $5,000 and $200,000 to new developers.
In addition to financial support, developers will gain access to Aethir’s powerful GPU resources, allowing them to build decentralized, cloud-based games and integrate AI solutions into their projects.
“Aethir Catalyst is built to fast-track the development of advanced AI applications, cloud gaming platforms, and AI-driven gaming experiences. With our 43 thousand plus top-shelf GPUs and 3 thousand plus Nvidia H100s, we’re providing the computer resources to scale projects of all sizes,” the announcement claimed.
Read more: What Is Cloud Gaming? How Does It Work?
This program is a strategic move by Aethir to boost its presence in the expanding cloud gaming and AI sectors, leveraging decentralized GPU infrastructure to attract both developers and potential users.
LunarCrush Named Top DePin Projects by Social Mentions
Analytics platform LunarCrush shared insights on the top DePIN projects by daily social mentions. Bittensor (TAO) led the list with 10,880 mentions, showing a notable increase of 2,410, indicating strong community interest in the project.
MultiversX (EGLD) followed closely with 7,870 mentions, experiencing a rise of 1,960. Formerly known as Elrond, MultiversX focuses on creating a high-speed, scalable blockchain for the metaverse, which continues to fuel its growing community presence.
ICP (Internet Computer Protocol) secured 4,860 mentions, up by 990. ICP’s mission to decentralize the internet and its focus on enabling developers to build directly on the web continues to attract significant attention.
Read more: 9 Best Blockchain Protocols To Know in 2024
Top DePin Projects by Social Mentions. Source: LunarCrush
While DePIN is still in its early stages and has some flaws, it allows for the exchange of tokens between synthetic and real-world assets. This supports traditional infrastructure by providing last-mile coverage in areas where conventional models are not economically feasible.
