DePin end of year update
Good morning/evening
Today I am looking at my DePin miners, how they have performed and what to expect going forward.
WeatherXM
I have written about WeatherXM before and at one point actually thought this had turned into a rug pull as mainnet kept being put back, the team were not communicating well and their Discord was just full of unhappy people who had been supplying weather data with their stations for years.
Well we did eventually get to mainnet and token launch in May 2024 and as station OGs we were rewarded with an airdrop that would be spread out over 1 year as well as earning tokens daily for the data we provide. Due to how everything was handled and even though I believed this project had a great use case, I have not HODLed my tokens, they are in fact sold weekly, firstly so I could make my ROI and if I am honest, a lack of faith in the team.
So far I have received 1,127 WXM tokens and covered my ROI with a small profit and now all tokens sold go to my son as either BTC or SOL. We are currently earning between $1/$2 per day but was as high as $4.
Going forward WXM actully needs to find people who want the data which is IMO the same for all the DePin projects that collect data. If no one pays for the data just how will they make any money to reward people?
chart from https://coinmarketcap.com/
Helium
Ah my Helium miners, yes we have made ROI on these but probably more down to the fact that I swapped the HNT/IOT tokens into SOL for years. I recently had a clear out of paperwork and there was a huge file on Helium from how and where to set them up, negotiations with an internet provider to put the miners on his towers as well as research on LMR cable and even a timeline of ordering them and when they should have arrived.
So what's going on with Helium now? In the latest HIP (Helium Improvement Proposal) starting this month (January) all rewards from IOT miners and Mobile miners will now revert back to being in HNT. For those that are staking either the MOBILE token or IOT token you can continue to do so if you wish but Heliums next halving is August 1st 2025 so by them there will be a set conversion price for any MOBILE or IOT tokens, until then any swaps will be market value.
I personally think this is a good thing as it gives utility back to HNT and is less confusing for people. Rewards for MOBILE subscribers will start to be in HNT and those that pay their phone bill with MOBILE can continue for now or use HNT. More details are to follow but at this current time my miners are still receiving IOT rewards.
Between me and my husband the amount we receive is currently around $3.00 per day from our miners and our son has his 2 miners.
Chart from www.tradingview.com
Showing all 3 of Heliums tokens for 1 year.
Wingbits
I have also written about Wingbits in the past. This project is about mapping flights and data from aeroplanes. Wingbits rewards users for setting up hardware to capture Automatic Dependent Surveillance – Broadcast (ADS-B) transmissions from commercial aircraft. ADS-B provides detailed information about an aircraft's GPS location, altitude, ground speed, and other data, which is publicly available and more accurate than radar. (From https://wingbits.com/) As we are OGs in this project we were able to BYOD (Bring Your Own Device). We actually used the Raspberry PI from one of our Helium Sensecap devices and reflashed a new SD card for this project as there were no devices you could buy back then.
Recently Wingbits has partnered with Geodnet and is planning on going to mainnet this year. The team on this project do regular AMAs and videos on what is happening and listen to community feedback.
Earnings are testnet tokens only with tokenomics to be finalised nearer to mainnet.
Natix
I wrote about Natix network also and this is a project that I originally dismissed as it is a mapping app and I really only drive a small distance I did not think it was worth it for me. Some of the first people using this app that drove a lot of miles actually made a lot of tokens and up to $400 per month. When Hatty tried it out, also not driving huge distances I thought I should actually try it and I have earned around $19 over 3 months.
There was news recently about Tesla cars using Natix Network and monetizing their 360 degree camera footage to map and earn which I expect to be good for Natix Network.
I will continue using this app as although the rewards wont be huge, if I am driving anyway I may as well get a few points while doing it.
natix-drive-and-earn
I have a couple of other DePin projects I am running on an old phone which I will write about at some point, but for now my passive income from my DePin miners is not doing so badly. Do you have any passive income miners? What are your thoughts on DePin in general?
As always thank you for reading and please feel free to comment.