1. Ecosystem Scale & Momentum
IoTeX now powers 218 projects, including 51 DePIN-focused initiatives, positioning it as one of the top three DePIN ecosystems behind Ethereum and Solana.
The ecosystem growth is further exemplified by the DePINscan explorer, which tracks 280+ projects and 18 million connected devices.
In 2024, IoTeX logged 150M+ transactions, secured 3.6B IOTX staked (~40% supply), saw 714K accounts, and onboarded 2,000 developers.
2. Core Infrastructure: IoTeX 2.0
IoTeX 2.0 delivers a modular infrastructure tailored for DePIN builders:
DePIN Infrastructure Modules (DIMs): Provide modular building blocks—layered from hardware abstraction to off-chain computing—for easy plug-and-play development.
Modular Security Pool (MSP): A unified trust layer where DIM providers stake IOTX, anchoring their state to the L1 chain for enhanced security.
Public Goods Toolkit: Whole ecosystem tooling including technology like DePINscan, ioPay wallet, ioTube bridge, plus developer IDEs, governance tools, and funding channels.
Meritocratic Tokenomics: IOTX token utility now spans DIM usage, staking, identity features like ioID and W3bstream, fostering network participation and value alignment.
3. Key Infrastructure Components
ioID (Identity Layer): Enables hardware devices to become self-sovereign on-chain entities—complete with smart contract wallets and cryptographic signing. Integrated into DePIN projects such as Network3, Nubila, and Envirobloq.
W3bstream (Verifiable Compute): Currently in DevNet, this ZK-based middleware validates real-world device data (Proof of Utility), laying foundations for trustable DePIN networks.
On-Chain Layer 1 Upgrades: v2.2.0 introduces real-time finality, while v2.2.1 improves node performance. Future releases aim to enhance API features, historical access, and account abstraction.
4. DePIN Project Highlights
A diverse range of DePIN projects harness IoTeX’s ecosystem:
Network3: AI-powered compute with 340K+ nodes, serving 2 PB of data. Raised $5.5M and launching $N3 soon.
Nubila: ESG-focused environmental data collector; raised $2.5M and acquired hardware maker Bloomsky.
Wayru: Global Wi-Fi DePIN; sold out hotspot devices and is launching next-gen miners.
Inferix: Decentralized GPU AI inference network with Proof-of-Rendering algorithm.
PowerPod: Shared EV charging network across 4 countries; exploring DePIN-based RWA NFTs.
Envirobloq: Smart home data DePIN using Pebble Trackers for environmental analytics.
5. Ecosystem Growth Programs & Funds
$100M Ecosystem Fund: Supports projects across DeFi, MachineFi, NFTs, and GameFi—aiming to onboard over 10,000 projects in the next decade.
Get GOATed Season 2 Campaign: In collaboration with OKX & Gate, distributed 100M IOTX tokens via incentives for DeFi/DePIN participation.
Developer Support: The DePIN Surf Accelerator and Ecosystem Fund nurture project launches, fundraising, and market entry.
6. Outlook: DePIN Meets AI & MachineFi
IoTeX $IOTX is beginning to merge DePIN and AI—introducing Realms and Quicksilver platforms that enable real-time interaction between machines, AI, and physical infrastructure.
ioID v2 is being developed to extend identity capabilities to autonomous AI agents and support richer interoperability across ecosystems.
Wrap-Up
The IoTeX ecosystem is rapidly evolving into a powerhouse for decentralized physical infrastructure and machine-driven Web3. With modular infrastructure, rich public tooling, dedicated funding, and a growing DePIN ecosystem, IoTeX is not just building technology—it’s enabling a new MachineFi economy centered on trust, autonomy, and AI collaboration.
