Research Summary
The report provides an in-depth analysis of four decentralized peer-to-peer networks (DePINs): Livepeer, DIMO, Hivemapper, and IoTeX. It highlights their recent performance, growth, and key developments in their respective sectors, which include video infrastructure, connected vehicle platforms, AI applications, and modular Web3 platforms.
Key Takeaways
Livepeer’s Growth and Cost-Effectiveness
- Livepeer’s Treasury Growth: Livepeer’s community treasury reached an all-time high this month, accumulating 112,101 LPT tokens. The tokens are being used to fund projects that leverage Livepeer’s scalable and decentralized infrastructure for AI video compute.
- Cost-Effective Video Streaming: Livepeer offers video streaming services that are 80% cheaper than traditional cloud services. Despite an increase in streamed minutes, the network’s transcoding cost dropped from ~$0.12/hour to ~$0.10/hour due to market competition.
DIMO’s User Engagement and Reward System
- Vehicle Connectivity and Rewards: DIMO, an open connected vehicle platform, has over 60,000 vehicles earning DIMO Rewards. The platform rewards users for maintaining their vehicle’s connection to the network and using service providers available in the DIMO Marketplace.
- Token Retention: The retention in DIMO Rewards recipients is promising, with 60% of users still holding 100% of any token rewards received from the protocol.
Hivemapper’s AI Application and User Engagement
- AI Trainers and Reviews: Hivemapper, known for its dashcams, has grown into one of the largest AI applications in web3. It has over 25,000 monthly active AI Trainers who have completed 231M reviews all-time.
- Next-Generation Dashcam: Hivemapper unveiled its next-generation dashcam, the Bee, which drew 10,000 preorders within a single week.
IoTeX’s Global Reach and TVL Growth
- Global User Base: IoTeX’s global reach now extends to over 300k users in 120 countries, cementing its position in the DePIN sector.
- TVL Growth: IoTeX’s Total Value Locked (TVL) more than doubled from $14.08M to $34.31M in just three months, showcasing growth of over 144%.
Actionable Insights
- Monitor Livepeer’s AI Integration Projects: Given the growth of Livepeer’s treasury and its focus on AI integrations, it would be beneficial to track the progress and outcomes of these projects.
- Assess DIMO’s Reward System: The high retention rate of DIMO Rewards recipients indicates a successful incentive system. Further analysis of this reward system could provide insights into user engagement strategies.
- Explore Hivemapper’s AI Application: With its large number of active AI Trainers and the successful launch of its next-generation dashcam, Hivemapper’s AI application warrants further exploration.
- Research IoTeX’s DePIN Liquidity Hub: IoTeX’s DePIN Liquidity Hub has significantly boosted liquidity and volume on its DEX, mimo. This could be a potential area for further research and analysis.
