The DePIN Explorer - DePIN Scan

In January 2026, the decentralized physical infrastructure network (DePIN) sector experienced a remarkable surge in revenue, dispelling long-standing criticisms that labeled it a mere Ponzi scheme. Total monthly revenue across leading projects reached an unprecedented $150 million, fueled by a growing enterprise demand for computing power, mapping data, and wireless bandwidth. This shift marks a significant turning point for DePIN, showcasing its potential to generate real-world value beyond token inflation. Leading the charge in this revenue boom are five key players. Aethir, known as the GPU powerhouse, generated an estimated $55 million in January, thanks to its robust revenue model anchored in real-world applications. Render Network followed closely with $38 million, evolving from a rendering tool to a vital component for AI inference amidst a global GPU shortage. Helium, despite a challenging 2025, reported $24 million, driven by a surge in on-chain network fees due to increased data transactions from logistics and IoT companies. Hivemapper and Akash Network also made significant contributions, with revenues of $18 million and $15 million, respectively. Hivemapper's innovative approach to data provision for autonomous vehicles and Akash's appeal as a decentralized cloud alternative have positioned them favorably in the market. The overall growth in revenue from January 2025 to January 2026 underscores the sustainability of this trend, suggesting that DePIN is evolving into a viable business model that prioritizes cash flow and real-world usage over mere token speculation.

### Introduction: A Turning Point for Decentralized Storage Filecoin is undergoing a significant transformation, evolving from a simple peer-to-peer storage network into a comprehensive on-chain cloud platform. This shift marks a pivotal moment in early 2026, as Filecoin embraces programmability, enterprise-ready cloud services, and AI infrastructure. The technology is redefining how decentralized storage can serve as a backbone for AI, enterprise solutions, and data sovereignty, despite facing some challenges along the way. ### Filecoin Onchain Cloud: Turning Storage into Programmable Infrastructure In late 2025, Filecoin launched Onchain Cloud, a verifiable and composable cloud layer that integrates storage, retrieval, and payments on-chain. This innovation, revealed at DePIN Day in Buenos Aires, has generated considerable excitement within the ecosystem. Developers can now utilize the Synapse SDK to incorporate verifiable storage into their decentralized applications (dApps), ensuring cryptographic integrity and transparent billing. Several projects have already begun leveraging this infrastructure, including ERC-8004/Agent0, which guarantees the tamper-proof reputation of AI agents, and various platforms like KYVE and Akave that are building AI-ready retrieval solutions. ### Ecosystem Momentum: Funding, Partnerships, and Coordination Filecoin's ecosystem is gaining traction through strategic funding and partnerships. PalladiumX has committed 15 million FIL to incentivize storage providers in enterprise deals, with plans for an additional 25 million FIL in 2026. Collaborations with AI and HPC providers aim to integrate Filecoin’s storage layer into high-performance computing environments, further solidifying its role in the AI landscape. Additionally, community-driven initiatives like the ProPGF funding program are enhancing governance and aligning ecosystem goals, indicating a shift towards a more robust and collaborative platform. As Filecoin continues to evolve, it is positioning itself as a foundational component for Web3, AI, and enterprise infrastructure.

Phoenix Finance, a leading decentralized finance (DeFi) platform focused on on-chain yield, has announced a strategic partnership with ATT Global, a well-known player in the real-world advertising sector. This collaboration aims to merge traditional advertising infrastructure with decentralized finance, leveraging DePIN technology to transform physical advertising assets into blockchain-based yield. The initiative is set to redefine outdoor advertising by converting ad-driven cash flows into standardized yield, thereby expanding the composable capital base of both entities. The partnership not only enhances the yield potential of Phoenix Finance through real-world advertising assets but also emphasizes the platform's commitment to sustainable and composable on-chain yields. ATT Global's integration of blockchain technology allows for the conversion of conventional advertising revenue into verifiable and transparent data streams, making it compatible with DeFi systems. This collaboration enables Phoenix Finance to unlock exclusive yield opportunities by standardizing ATT Global's advertising revenues into robust on-chain yield tools, ultimately broadening capital efficiency and improving user experience. Furthermore, this partnership represents a significant step towards integrating decentralized finance with physical infrastructure, showcasing a scalable framework for real-world asset (RWA) integration. As the adoption of DePIN accelerates, this initiative underscores the importance of solid economic activities in supporting yield, rather than relying solely on speculative mechanisms. By combining DeFi primitives, physical advertising assets, and DePIN infrastructure, Phoenix Finance and ATT Global are setting a precedent for future integrations that could further enhance the crypto economy.

Decentralized Physical Infrastructure Networks (DePIN) are revolutionizing how real-world activities contribute to shared infrastructure, moving away from traditional centralized assets. These networks allow contributors to deploy hardware, navigate cities, or gather environmental data, creating a collaborative ecosystem that enterprises and machines can utilize. A notable trend within DePIN is the focus on real-world intelligence, which encompasses various projects that provide different types of data and insights. This article compares five leading DePIN projects, highlighting their unique contributions to the decentralized infrastructure landscape. Helium, one of the pioneers in the DePIN space, provides decentralized wireless coverage through community-driven infrastructure like LoRaWAN and 5G. Contributors earn tokens for their coverage, demonstrating that decentralized networks can build substantial telecom infrastructure. However, Helium primarily focuses on access rather than providing insights into connectivity reliability. In contrast, Hivemapper rewards users for collecting street-level imagery, creating an up-to-date physical map. While its data ownership narrative is strong, the static nature of the visual data limits its applicability in real-time operational contexts. On the other hand, NATIX Network leverages computer vision to offer insights into traffic and road usage, providing valuable mobility signals for urban analytics. However, its vision-based approach does not capture the full environmental context necessary for reliable operations. WeatherXM addresses localized weather data through community-powered weather stations, offering essential information for enterprises but still lacking comprehensive operational context. Finally, Roam Network stands out by integrating various data signals into a cohesive navigation tool that aids machines in making informed decisions about connectivity and mobility. By emphasizing context over raw data, Roam Network positions itself as a critical infrastructure for the future of machine operations in real-world environments.