XYO Network has onboarded more than 10 million nodes to its decentralized physical infrastructure network (DePIN), co-founder Markus Levin told Cointelegraph in an interview.
The nodes mostly comprise human users who provide data in exchange for rewards 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 told Cointelegraph.
Approximately 80% of XYO’s users are non-crypto natives who are participating in Web3 for the first time, he added.
They include truckers, rideshare drivers, delivery people, and nurses among others, Levin said, adding that “95% convert after onboarding through the COIN app.”
XYO launched a layer-1 blockchain network in January. Source: XYO
Related: DePIN XYO launches on Solana
DePIN Tokenomics
In exchange for data, XYO awards its users points that are redeemable for its native XYO token, as well as