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XYO Network Surpasses 10 Million Nodes, Attracting Non-Crypto Users

XYO Network, a decentralized physical infrastructure network (DePIN), has achieved a significant milestone by onboarding over 10 million nodes. According to co-founder Markus Levin, the majority of these nodes are operated by individuals using the COIN mobile app, which rewards users for contributing geospatial data.

Approximately 80% of XYO’s participants are new to the crypto space, including professionals like truckers, rideshare drivers, and nurses. Levin noted that 95% of users convert after onboarding through the COIN app.

In January, XYO launched its own layer-1 blockchain, enabling validators to stake XYO tokens and earn rewards in a new gas token, XL1. Additionally, in October 2024, XYO bridged its token to the Solana network to leverage its high throughput and low transaction fees.

XYO’s growth reflects the broader trend of DePINs gaining traction as a means to decentralize real-world infrastructure and onboard new users into the Web3 ecosystem. The DePIN sector now encompasses over 1,000 projects with a combined market capitalization exceeding $50 billion.

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Written by 365int

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