Forward the Original Title ‘Western Protocols Eastern Manufacturing Entering DePIN and Its Underlying Supply Chain’

Western protocols may still rely on Eastern manufacturing behind the scenes.

As the Meme hype temporarily fades, DePIN projects within the Solana ecosystem continue to grow quietly.

However, upon taking a closer look at these projects, we discovered a phenomenon you might not have noticed: while core protocols and projects are often led by Western teams, their development—especially in terms of hardware production and node distribution—has formed a deep dependency on Asia.

Western protocols may still rely on Eastern manufacturing behind the scenes.

How much does the entire DePIN sector depend on Asia’s supply chain? And how indispensable is the Asian market?

With these questions in mind, TechFlow conducted an in-depth conversation with three DePIN project founders:

StarPower Co-founder Laser,

Jambo Co-founder James,

CUDIS Co-founder Edison.

During the discussion, we talked about supply chains, the Asian market, demand, and the relationship between DePIN, Meme, and Trump’s policies. Below is the transcript of our conversation. The podcast audio version is also available:

Xiaoyuzhou link: https://www.xiaoyuzhoufm.com/episodes/67c31eccb0167b8db9d306b6

Spotify link: https://open.spotify.com/episode/3wRdDh1k2GcxHJnYPJq9gG?si=3WcJz90GRJq5LsP3AsJ07g

Background and Project Introduction

TechFlow: First, please introduce yourselves and provide some updates on your current projects.

Laser:

Hello everyone, I am one of the co-founders of StarPower. I entered the blockchain field in 2015, working at Wanxiang and HashKey as Mr. Xiao Feng’s assistant. In 2021, I started my own venture because I wanted to do something meaningful in the real world, so I firmly chose the DePIN direction.

StarPower has currently secured two rounds of funding from institutions such as Alliance DAO, Framework, and Solana Ventures. We are in the same batch of Alliance DAO alumni as Pump.Fun and MoonShot. We may also be the only Energy DePIN project invested by Solana Ventures.

James:

Hello everyone, I am the co-founder of Jambo. I am Chinese, but I grew up in Africa.

Jambo was founded in 2021 with the aim of addressing the financial pain points in regions like Latin America, Africa, and Southeast Asia. Since users in these regions mostly skipped the PC era and directly entered the mobile internet era, we decided to build our products and services around mobile devices. Jambo’s first product is a Web3 phone, priced at $99, which sold over 800,000 units last year, covering more than 100 countries.

Edison:

Hello everyone, I am the co-founder of CUDIS.

CUDIS was founded in 2023, inspired by my earlier investment experiences: since blockchain technology allows us to truly own our assets, can we also control our health data in the same way?

We want health data to belong to users, and only by paying users can we access their health data. Based on this concept, we launched the first and second-generation CUDIS smart rings, and have secured a $5 million first-round investment led by Draper Associates.

Supply Side: Western Protocols, Eastern Manufacturing

TechFlow: DePIN protocols are generally led by Western teams, but the hardware manufacturing and supply chain behind these protocols seem to be rarely discussed. China and Asia as a whole are leaders in smart device manufacturing. As a team with an Asian background, do you rely heavily on the Asian supply chain? What are the specific production processes and sales models?

Laser:

The core goal of StarPower is to build a global energy device interconnection platform. Therefore, we don’t focus on who manufactures a particular product; instead, we focus on integrating with various energy device manufacturers as a protocol provider. Currently, China accounts for about 80% of the capacity and market share in the new energy sector, which is our advantage. We don’t directly participate in device manufacturing but concentrate on integration and collaboration at the protocol level.

In the past three months, our focus has been on promoting compatible energy storage batteries for both residential and commercial scenarios. Through such cooperation, our products have successfully entered the Australian and European markets. We provide additional token incentives to users who purchase these batteries, with the core idea of attracting users who truly need energy storage batteries or photovoltaics. By meeting their core needs, they can also receive additional rewards. Additionally, we are developing solutions for commercial energy storage scenarios, such as our recent collaboration with the Deepseek Park in Hangzhou, providing them with commercial energy storage solutions.

It’s worth noting that recently, both Trump and Vice President Vance have mentioned that the development of AI cannot proceed without supporting energy infrastructure. We believe that energy is a crucial foundation in both China and Western countries. Only by improving energy infrastructure can we further support the development of AI.

James:

If you look at the DePIN projects on CoinMarketCap, you’ll notice an interesting phenomenon: in the top ten or even the top twenty DePIN projects, over 90% of the teams and founders are from Western countries, yet the supply chains behind these projects are almost entirely dependent on Asia.

Jambo’s operating model differs from many other DePIN projects. Many hardware-related DePIN projects typically require a six-month or even a year-long pre-sale to raise funds, then find manufacturers to produce the products before finally shipping. However, we are able to mass-produce hundreds of thousands or even a few million phones directly. This is because we fully leverage the strengths of Chinese teams. We have already found three very excellent supply chain partners in Shenzhen and Dongguan, ensuring efficient hardware production and stable component supply. As for teams whose supply chains are not in China, I suspect they need to solve the supply chain issues through intermediaries.

But overall, the core of DePIN is the decentralization of physical infrastructure networks. Without the support of physical infrastructure, it cannot be called a DePIN project. However, most DePIN projects are concentrated in the U.S. (such as Hive Mapper, Helium, Akash Network, etc.), and few other regions can provide similar services. But we’ve noticed that Asian teams are rising, becoming the second global force in the DePIN space. At the same time, Asia’s supply chain advantages ensure that these projects have the ability to produce and deliver hardware, which is critical.

TechFlow: Regarding the phones Jambo makes, how do you view products like mobile SIM cards and WiFi devices related to your products?

James:

That’s a great question. Honestly, whether it’s phones, rings, or other devices, hardware as a go-to-market strategy is actually quite unconventional. Typically, VCs are more inclined to invest in software projects because, from an investment perspective, software offers higher scalability, which makes more sense according to investment metrics. However, I believe hardware has a significant “moat” (MOS, Margin of Safety) in terms of scalability, and it’s also a key success factor because the value of hardware gets amplified as network effects are formed. The core value of hardware lies in what it can provide to users, such as helping them make money or connect with like-minded community members. I think that’s the most important aspect. For Jambo, as an example—which also answers the second question—our biggest goal this year is the satellite launch plan announced last month at the TGE. We are doing this to enable seamless connectivity for users worldwide. One of the biggest bottlenecks in the crypto space is accessibility and the user experience, and hardware’s advantage is that it directly solves these problems. If you own your hardware, all user data will be centralized in your system, allowing you to provide more value-added services based on this data. Just like how WeChat started as an instant messaging tool and gradually expanded into an ecosystem, in China, you can use WeChat for credit lending, while in the U.S., any bank or emerging fintech platform can provide financial support. However, in regions like Africa, Latin America, and Southeast Asia, where KYC systems are lacking, a mobile phone number is actually equivalent to a user’s credit system and identity verification. For us, Jambo phones may be the first credit base many users will encounter. Through hardware, we can collect relevant data and help users connect to a broader financial ecosystem. This is a huge advantage. Therefore, hardware can take the form of a phone or other devices. The choice of hardware doesn’t entirely depend on the phone. We chose a phone because it has specific advantages in our market strategy. Regarding SIM cards, our goal is to achieve a connection method that no longer depends on SIM cards by the end of this year. At that point, all devices will be able to connect to the network directly via our satellite.

TechFlow:

Thank you. Let’s now talk about wearable devices. What are your thoughts or experiences on wearables?

Edison:

I agree with James’ point—hardware is a “moat.” While software can easily provide some single-point functionality, it’s hard to sustain. For example, many mainstream companies, once they realize users own their health data, stop providing the data source for that health information. In such cases, hardware becomes particularly important. Although the growth of hardware may be gradual at first, we believe that when the market reaches a tipping point, we will see exponential growth. At the same time, this also tests our ability to control the supply chain. Although the DePIN concept was initially introduced by the West, projects like Helium and HiveMapper are seeking collaborations with Eastern hardware manufacturers and supply chains. For us, although we didn’t initially target the Asia-Pacific region, after launching our product, we quickly attracted a large number of users from Japan, Korea, and other regions. We’ve gradually realized that the greatest purchasing power in the crypto industry actually comes from Asia. As the project develops, followers and traffic will come from all over the world. The DePIN track, to some extent, provides a bridge connecting the East and West. In the past, there may have been a lack of smooth channels to capture the attention of the East-West integration, but this track has filled that gap.

TechFlow:

I believe the key point emphasized in all your speeches is that Asia, especially China, plays a very important role in the production and supply side of the DePIN track. StarPower’s Starplug is priced at $109, CUDIS’ smart ring is priced at $349, and Jambo’s phone is priced at $99. Have the hardware costs of your products been significantly reduced due to the Asian supply chain? I’m curious about the cost structure and the profit margins of these products.

Laser:

It’s obvious that manufacturing in Asia is the lowest-cost option globally. Currently, StarPower’s hardware cost is about 50% lower. We were shocked last year when we heard that Jambo phones were priced at only $99. This highlights their strong capabilities in supply chain and cost control.

Our situation is slightly different. Before the TGE, we primarily targeted Web3 users, so we focused more on financial returns when designing and pricing our early hardware products. In addition to the hardware’s functionality, we also offered higher mining incentives.

As the project gradually develops, our positioning is changing. As a protocol layer, we will gradually reduce our direct involvement in hardware production and shift our focus to protocol development and ecosystem expansion, rather than continuing to release hardware devices produced by StarPower.

For example, future hardware may be battery devices manufactured by companies like BYD and Wotai, but these devices will support the StarPower protocol. This model is similar to Helium’s ecosystem.

We hope to further reduce hardware costs through collaboration with third-party manufacturers while expanding the protocol’s application.

James:

Cost is always a key factor. Actually, Jambo doesn’t make a profit on hardware sales. Our strategy is to break even because, at this stage, we focus more on user distribution. That’s why the first-generation Jambo phone was priced at $99, and even though the second generation has three times the performance, the price remains at $99.

You can compare this with other companies’ operating models. For example, Solana’s Saga phone was priced around $1,000 for the first generation, but after switching to a Chinese supply chain, the second generation dropped to $500. From this, we can see that many Western companies are realizing the importance of the Asian supply chain in reducing costs during iteration.

However, it’s worth noting that the Asian supply chain is not a simple “plug-and-play” model. Cooperating with suppliers is not just a matter of a few online meetings.

To truly establish a partnership, you need to go deep into the factories and meet face-to-face with the key people in the supply chain. Many of the heads of Asian supply chains are not familiar with Web2 or Web3 concepts. In fact, their mindset could be considered “Web0.”

Therefore, the communication and negotiation process requires a significant amount of time and effort. For Jambo, for example, persuading three supply chain manufacturers to invest in Jambo and simultaneously making reverse investments to establish solid partnerships was a very complex negotiation process. This is a non-pre-existing model that needed to be built from scratch.

Overall, this cultural difference may be one reason why Western companies progress more slowly when leveraging the Asian supply chain. But without a doubt, the advantages of the Asian supply chain in terms of cost and efficiency are clear.

Edison:

CUDIS’ original pricing of $349 was a well-considered decision.

This was because the company was initially self-funded, and I personally invested a significant amount. So we had to ensure that the business could still operate without any external financing. In other words, our business model had to be profitable to generate returns, so that users would expect future products and services from the company.

China’s supply chain not only offers a cost advantage but also provides higher-quality products at the same price level.

Hardware product development is not an overnight process, and the hardware industry today is vastly different from five to ten years ago. In the past, you could quickly ship products just by rebranding, but now there are many issues, such as patents, designs, and molds. Every brand and manufacturer has its own unique technological system. We’ve spent the last two years investing time and resources into building our own supply chain integration system to ensure our product design and manufacturing processes have competitive barriers that are difficult to replicate.

The advantage of China’s supply chain is also reflected in its diversity of options—companies can choose to develop high-end, mid-range, or mass-market products and offer corresponding services. In other countries, the options are often very limited. In fact, the global supply chain for smart wearable devices is almost entirely concentrated in China. While India also has some manufacturers, their production capacity is very limited and cannot meet large-scale production demands. If a company needs to produce a million devices, it still needs to rely on China’s supply chain to scale up production.

In the long run, China’s supply chain cluster effect gives it a significant advantage in hardware production and research and development. Whether it’s chip design or process innovation, China’s supply chain ecosystem continuously drives hardware products’ updates and iterations. In other countries, the lack of such a cluster effect means that supply chains may struggle to maintain due to a lack of customers, resulting in an inability to provide new products and technical support. Therefore, I believe that in the next 5 to 10 years, the production and R&D of consumer electronics hardware will still be mainly concentrated in China.

TechFlow:

There is a project that could be considered a competitor to CUDIS—Pulse. Their team is mainly from India, but the Indian founder of Pulse has been living in Shenzhen for a long time to better maintain close ties with Shenzhen factories.

Edison:

That’s true. Many brands that want to do good product R&D must stay close to the supply chain. We also have teams stationed in Shenzhen, visiting the supply chain and factories every day to track new product development progress.

This is essential because only by being close to the supply chain can you truly understand which products are competitive and which products can win market recognition.

Especially for us, if the product itself lacks competitiveness, users won’t buy it. Even if we invest a lot of resources in marketing and advertising, if the product cannot meet user needs, we won’t achieve long-term market value. Therefore, the core dimension is still product competitiveness.

Demand Side: DePIN’s Natural Testing Ground

TechFlow: Asian users have some unique behavioral characteristics, such as participating in “yield farming” and new token offerings. What other user characteristics have you observed in the DePIN space? Which countries in Asia are currently seeing more popularity for your products?

Laser:

I think it mainly depends on the target user base of the project.

Before our TGE, StarPower’s target audience was more Web3 native users. These users tend to have simpler needs; they want to participate early in the project and earn rewards that align with their investments through mechanisms like mining.

However, after the TGE, especially after connecting with Web2 new energy companies, our user base may gradually expand to include Web2 users.

In terms of user distribution, about one-third of our users are from the U.S. and Europe, while another third is from East Asia. Among them, Korean users make up a significant portion, around one-quarter. The remaining users are mostly in Southeast Asia, India, and Australia. Currently, Web3 users dominate, although a small number of Web2 users are buying our products, but their numbers are relatively limited.

James:

At Jambo, we divide the market into three main regions: the Americas, which account for about 40%; Southeast Asia and the Asian market, around 35%; and Africa, about 25%. In the Southeast Asia and Asian markets, the user distribution is mainly concentrated in Thailand, the Philippines, and Indonesia, with first-tier markets including South Korea, Japan, and China in that order.

In terms of user characteristics, I believe one of the biggest criticisms DePIN faces is the actual usage rate of its users. For example, I might know a few people running Helium Network nodes, but I don’t know anyone who is actually using the network. This isn’t a criticism of Helium, but rather a common industry phenomenon.

The advantage of the Asian market lies in its high foot traffic and activity. The explosive growth of GameFi in 2021 is a great example of this. Asian users tend to adopt new concepts and technologies faster than U.S. users, which in some ways gives a competitive advantage.

However, to truly achieve node operation and actual network usage, I think emerging markets could be an important growth point in the future. In these markets, the value of $1 is much higher than in developed countries. As long as the project’s token economics are reasonable and can incentivize users to run nodes while attracting them to use the network, decentralized networks may be more attractive.

Edison:

Initially, we didn’t fully realize the importance of the Asian market, as the common stereotype was that European and American users were more focused on health and fitness.

However, from the market performance, Asian users also show a strong interest in health and fitness. In this respect, we have benefited from projects like StepN, which have educated a large number of users in the Asian market. Meanwhile, in the European and American markets, projects like Sweatcoin have helped build awareness around fitness and health during the last cycle.

Currently, our main target markets are the U.S., South Korea, Japan, Singapore, and the U.K. Of these five countries, three are in Asia. This is why, starting in the second half of last year, we invested heavily in marketing and community activities in the Asian region.

For example, after the WebX event in Japan, we organized a community event with over 100 local Japanese users participating. Since most users only speak Japanese, we arranged for translation services. This event gave us a deep sense of the high activity level of users in the Asian market. We also saw the enthusiasm of Asian users through events like the “Social Challenge” on Twitter.

It’s important to note that these users are not just “yield farming” users, which is a very interesting phenomenon.

Overall, Asian users can be divided into two categories. One group consists of low-frequency users who may engage in some “yield farming” activities. The other group consists of users with a strong willingness and ability to pay.

As long as the product holds real value for them, they are willing to pay for it. This is an important observation we made during our market promotion and also a key direction for our future development in the Asian market.

TechFlow: You just mentioned that you held a marketing event in Japan, and many of the users were not Web3 natives. In a relatively closed market like Japan, is there a high recognition cost for Web3? How do you explain Crypto and token incentives to a user who knows nothing about Web3 and convince them to buy your product?

Edison:

Actually, the Japanese market wasn’t something we actively promoted; it formed organically under the influence of some influential KOLs. They noticed our product and proactively shared it on Twitter. At the same time, we had an invitation mechanism where users could invite others to purchase the rings and earn rewards. This process attracted some non-Crypto users.

These users’ understanding of the product was quite simple: by buying and wearing the ring, they could not only earn some rewards but also benefit their health. Therefore, our communication with these users focused more on the practical use of the product, rather than emphasizing Web3 aspects. For example, we talked about how the data is recorded, why this data belongs to the users, and how this data could bring value to them in the future. This is a notable advantage of hardware products, as it makes it easier for users to relate to and accept the product.

Later, users may ask more about the specific functions of the product, such as how the smart ring works with the app and where the rewards come from. We simply explained how the reward mechanism works and the logic behind it. Compared to the past, when we had to explain complex concepts like Bitcoin, Ethereum, or Solana, now with a physical product, the understanding barrier for users has greatly lowered.

TechFlow:

You mentioned earlier that hardware products have an intuitive appeal for non-crypto users, but it seems like crypto users are more passionate about Meme coins. In contrast, DePIN doesn’t seem to have sparked as much enthusiasm as Meme coins. In the current hot market for Meme coins, how do you see the future development of DePIN? Is there a pressure to lose traffic and funding to Meme coins?

Laser:

This current Meme boom actually reminds me of the previous NFT boom or even earlier ICO waves. Even though the forms may differ each time, similar phenomena always emerge. My personal feeling is that although DePIN has not yet reached “extreme popularity” worldwide, it has already become one of the mainstream discussion topics in Western markets.

What sets DePIN apart is that it has the potential for long-term development and practical implementation, while Meme coins, although they may attract tens of thousands or even hundreds of thousands of users in the short term, often have fleeting popularity.

In fact, the rise of this Meme craze reminds me of our experience last year with the Alliance incubation project. At that time, Alliance invested in projects like Pump.Fun, before Meme projects became a hot topic. This investment decision itself was a non-consensus choice. Whether for Web3 investors or industry practitioners, if they want to find real opportunities, they must dare to choose directions that are not mainstream.

So, I believe that DePIN projects—whether it’s us or other teams—are all efforts that bring real value to society. Although DePIN’s development requires time, I believe this year will be an important year for DePIN. It’s just a matter of time.

James:

I completely agree with Laser’s view. Every phenomenon has its own narrative logic, but there are differences between them.

Regarding Meme, I want to pose a question: What is the essence of Meme Coins? For instance, even Trump, the “most powerful person in the free world,” launched his own Meme Coin, which shows that anyone can issue a token as a market entry strategy. Whether it’s the President of the United States or a project that hasn’t raised funding yet, they can launch a token through methods like Fair Launch.

So, what is DePIN? It needs to incentivize and reward different nodes and participants in the ecosystem through token fragmentation. This stands in stark contrast to the simple model of Meme Coins.

The rise of Meme Coin indeed draws market liquidity and attention. Whether it’s AI Agents, DeFAI, or other hot concepts from two months ago, none can compare to the current heat of Meme Coins. But from another perspective, this also provides inspiration for many new entrepreneurs and companies. They realize that issuing a token can be a strategy to enter the market, moving beyond traditional hardware or other market strategies.

Therefore, I believe some very interesting new DePIN companies may emerge in the future, which could adopt token issuance strategies to start their projects. This makes me very excited about the future development of the DePIN space.

Edison:

The current Meme craze doesn’t pose a threat to us.

Every industry has its own cycle, and Meme is just a big wave in this cycle. We don’t know how long this wave will last. Just like OpenSea, which was very profitable in the last cycle, has already lost its former brilliance. Fortunately for us, we chose Solana as an important ecosystem to develop our business, which was also riding a hot trend.

From a spread logic perspective, the power of Token spreads greater than software, and software spreads greater than hardware. As a company with a hardware product, our spread speed is relatively slow. But if we issue our own Token in the future, everything around the Token will be easier to expand to more users and communities.

We never deny the development of Meme. From the second half of last year to this year, we’ve clearly noticed a decrease in communication costs. More and more people are starting to understand the crypto field, finding it interesting, and willing to try new things. This isn’t a threat; it’s an opportunity. It doesn’t mean we should chase the trend; we just need to focus on doing what we’re doing well, so that when the next wave of opportunity comes, we’ll be in a favorable position.

TechFlow:

Although you’re not focused on Meme Coins, could it be used as a marketing tool? For example, could DePIN and Meme Coin be combined, even launching a Meme Coin related to DePIN devices, in order to promote your DePIN products and ecosystem?

Laser:

Yes, what we are doing is indeed a bit difficult to understand. Let me first explain our overall logic: A lot of renewable energy (wind, solar) is being fed into the power grid, creating a lot of volatility. For instance, photovoltaic power generation might exceed local demand during the day, but at night it’s zero. This causes great fluctuations in the grid, which is one of the biggest headaches and hardest problems for global power grids.

At the same time, over the past two years, there has been an explosion of various AI and computational power. The endpoint of computational power is electricity—demand for electricity continues to rise, and both supply and demand are putting pressure on the grid. This has created a market demand: How do virtual power plants smooth the peaks and valleys? Simply put, you act as a reservoir, storing excess electricity during low demand and releasing it during high demand. This sounds simple but is actually very difficult, which is why we want to use Web3 to do it.

But if we explain this complex concept to users, they may just turn away.

So, we approach it from the product perspective—like, this socket can save you some electricity, or this storage battery can help you save electricity—this way is simpler and more direct. Of course, the success of this still depends on Web2, traditional markets, and user groups. Just like Jambo focuses on Web2 users in Latin America and Africa.

James:

Just like Laser mentioned earlier, this is indeed very interesting. If you directly tell users about these complex technical details, like “We can help you optimize technical processes,” users might immediately turn away.

From a human perspective, learning starts with admitting that you don’t know something. But in reality, most people rarely admit to others that they don’t understand certain things. This psychological barrier makes it very difficult to directly promote complex technologies.

In addition, CUDIS’s strategy of promoting products through KOLs in the Japanese market is very effective. This distribution effect can be achieved in various ways, such as through token airdrops, trading competitions, or lottery events. These fun activities can attract users to join the system and further enhance user stickiness through rewards.

A successful Web3 marketing strategy needs to achieve the following:

• First, convey a clear and definite core message to users, letting them know what your product is and what problems it can solve;
• Secondly, attract users through incentive mechanisms (such as rewards and airdrops);
• Finally, establish trust and anticipation for the product. This method not only attracts users but also keeps them engaged and makes them a part of the ecosystem.

Edison:

Actually, CUDIS has an open attitude towards this: we don’t specifically aim to create a “Meme Coin,” but we have collaborated with many “Meme Coin” projects. Working with these “Meme Coin” communities can indeed create many interesting activities and content. For us, whether organizing activities ourselves or providing support, we are willing to participate because our ultimate goal is to focus on users and help solve their real-world problems.

In terms of positioning, “Meme Coin” projects mainly focus on culture, attention, and user engagement needs, whereas we focus more on solving real-life problems for users. These two approaches are not in conflict, and I think it’s a very efficient strategy.

TechFlow: Earlier, we mentioned Trump’s policies. Do you think this will bring more opportunities for DePIN? Additionally, will more supportive policies be introduced in the future to further promote this sector’s development?

Edison:

Overall, I believe this is definitely a very positive signal. The U.S. president issuing cryptocurrency is a powerful global publicity move. If you closely observe the policy direction of Trump and his vice president, Vance, over the past year, you can see several key areas closely related to us: one is cryptocurrency, two is artificial intelligence, and three is energy. There is a clear logical connection between these areas, especially AI and energy, which are often discussed together.

Currently, the U.S. faces the issue of an aging power grid, but at the same time, the rapid development of AI has significantly increased power demand. This creates a paradox: if the U.S. wants to maintain its leadership in AI, it must solve its energy infrastructure problems. For example, an important initiative proposed by the Trump administration in the “Stargate” project was to build new power plants and energy storage facilities in Texas to support the development of AI and other energy-intensive technologies.

Therefore, I believe Trump’s policies will be an important boost for the DePIN sector. The focus on AI and energy issues helps us save the “education cost” when approaching many venture capital firms. We no longer need to spend too much time explaining the significance of the industry. They even proactively reach out to us for discussions.

James:

Actually, I think the influence of Trump’s policies is huge, not limited to the DePIN sector. It can actually extend to any cryptocurrency field, even to industries like tech stocks. For example, on January 15th, Trump launched “Trump Coin.” No matter what sector your project is in, liquidity will be greatly impacted.

Therefore, we need to closely monitor the future policy direction of Trump and his team, especially whether these policies will attract more large companies into the cryptocurrency space and deepen their involvement. At the same time, for project founders, whether in a bear market or bull market, they should focus on continuously building. If the macro environment can keep up, it will undoubtedly bring more opportunities.

Edison:

The president personally issuing a coin sets a great example for everyone: as long as it’s compliant, legal, and reasonable, anyone can issue their own cryptocurrency. This act is not only symbolic but also attracts more people who may not have known about cryptocurrency into the field.

With this influence, we will ultimately benefit from the new users entering the market, bringing traffic, attention, and potential purchasing power. Of course, some of these new users will stay, while others may leave, but throughout this process, I believe the entire cryptocurrency community will grow larger and its ecosystem will become more complete.

As for the long-term policy environment, such as changes in global politics or leadership in four or five years, we cannot fully predict. But at present, although policies regarding cryptocurrency consumers and decentralized products (like DePIN) have not been fully established, the overall trend will be more friendly.

TechFlow: With the cooling of the Meme trend, more and more users are focusing on fundamentally sound projects, and both AI and DePIN are such projects. We believe that the DePIN sector is still very worthy of attention this year, and more quality projects will be recognized.

Due to time constraints, our discussion ends here. We sincerely thank the three of you for your insights on the sector, industry chain, and market trends. See you in the next episode of the podcast.

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