1. Analysis of Important Projects in the DePIN Track

1. DoubleZero: Building the Highway of the Solana Ecosystem

On March 10th, amidst the overall sluggishness of the crypto market, the emerging DePIN project DoubleZero Foundation secured a significant investment of $28 million. This financing event has attracted widespread attention within the industry.

The reasons why the DoubleZero Foundation can attract such a large-scale investment are mainly as follows:

First of all, the founding team has rich experience and successful cases in blockchain projects. Founder Austin Federa served as the strategic director of the Solana Foundation and played an important role in promoting the early development of the Solana ecosystem. He has a close relationship with the Solana core team, laying the foundation for the project to obtain ecological resources and market recognition.

Secondly, the investment lineup is strong, including top VCs such as Dragonfly and Multicoin, as well as internal ecosystem forces like Solana Ventures and the co-founders of Solana Labs. This indicates the high level of importance and support that the Solana official team places on this project.

Third, the technical solution is advanced and aims to address the bottlenecks at the Web3 infrastructure level. DoubleZero adopts a unique double-ring architecture, where the outer ring is responsible for traffic filtering and security protection, while the inner ring efficiently processes transactions, which is expected to significantly enhance the performance of blockchain networks and user experience.

2. Roam: Building a Web3 Version of the Starlink System

On March 6, another decentralized wireless network project based on Solana, Roam, was listed on mainstream exchanges, with a circulating market value of over 60 million USD, becoming a new force in the Solana DePIN ecosystem.

Roam is dedicated to providing seamless WiFi and eSIM connectivity services worldwide. Currently, it has over 2.3 million users and 2 million WiFi nodes, covering more than 190 countries. Its technological advantages include:

• Adopts OpenRoaming™ WiFi technology, allowing users to seamlessly switch between different networks.
• Providing eSIM services in over 160 countries, simplifying user access process.
• Use blockchain incentive mechanisms to encourage users to contribute network resources
• Apply decentralized identity and verifiable credentials technology to protect user privacy and data security.

The Roam team has been deeply involved in the Web3 field for many years, quickly accumulating a large number of users and network effects through innovative incentive models. Although the project officially started after its restructuring, its potential in the wireless network sharing sector cannot be ignored.

2. Ecological Observation

As of March 2025, the DePIN ecosystem based on Solana has shown significant development, with a total market value exceeding 25 billion USD, far surpassing DePIN projects on other public chains. A vast DePIN empire is gradually taking shape within the Solana ecosystem.

Currently, there are about 78 DePIN projects on Solana, covering various subfields such as wireless communication, computing resources, geolocation, and cloud storage. Representative projects include:

• Helium: The world's largest decentralized wireless network
• Render Network: Decentralized GPU Computing Platform
• Hivemapper: Decentralized Digital Map Network
• GenesysGo SHDWDrive: Decentralized cloud storage solution
• Dabba Network: An emerging project focusing on the broadband market in India.

Solana's advantages in the DePIN field are mainly reflected in:

1. Excellent technical performance and low cost
2. Suitable for processing large amounts of real-time data for DePIN projects
3. The Solana Foundation's active support for ecological projects

These advantages make Solana the preferred platform for DePIN projects, promising to foster more innovative projects and application scenarios.

3. Recent Important Events in the DePIN Track

1. On February 1st, IoTeX released its development roadmap for 2025, focusing on the integration of DePIN and AI.

2. On March 3, during ETHDenver 2025, the DePIN + AI R3al World Summit will be held to discuss regulatory frameworks.

On March 6, the Solana Foundation announced that it will hold a DePIN Day event in Shenzhen, with multiple ecological projects participating.

IV. Recent Industry Financing Events

1. On February 27, the Solana ecosystem DePIN project Shaga completed a $4 million seed round financing.

On February 25, the DePIN project Geodnet completed a $8 million token financing.

3. On February 5th, DePIN gaming infrastructure platform Beamable completed a $13.5 million Series A funding.

4. DoubleZero Foundation secures $28 million investment led by Dragonfly and Multicoin Capital.