A Peek into IoTeX's Digital Democracy
Imagine a decentralized network with a digital democracy where token-holders stake to vote for Delegates to maintain and grow the network. That's IoTeX for you!
At the heart of every blockchain lies its consensus mechanism, the process by which a decentralized network of nodes reaches a common agreement on the state of the ledger. IoTeX utilizes Roll-DPoS consensus, where 24 of the top 36 community-voted Delegates are randomly selected to manage consensus on behalf of the entire network and mine blocks every hour. Our community of token holders vote for Delegates by depositing (“staking”) their tokens with their chosen Delegate: 1 $IOTX staked = 1 vote.
Currently, 38.66% of IOTX in circulation is staked, showing a long-term commitment of the community to our Digital Democracy.
The DePIN Delegate Program: A Gateway to Growth
As we propel DePIN forward, our commitment is to onboard Delegates who share our passion for the DePIN mission. By staking with these DePIN Delegates, you not only support the IoTeX network but also contribute to projects that benefit the DePIN community, all while earning rewarding returns.
The DePIN Delegate Program empowers individuals, communities, and projects to operate their own IoTeX delegate node, earning block rewards to support their project growth within the DePIN sector. As an official DePIN Delegate, you not only boost awareness but also contribute significantly to IoTeX network security.
We extend an invitation to all DePIN projects and individuals to become a Delegate. By doing so, you not only tap into staking rewards but also contribute to the vibrant DePIN ecosystem that is the IoTeX network. Your involvement helps decentralize and secure the IoTeX network, fostering growth and innovation in the DePIN sector.
Apply to become a delegate by reaching out to [email protected].
Benefits for DePIN Projects
- Automated IOTX Rewards: Fund your project's growth with rewards (some DePIN Delegates are earning 20k+ $IOTX a month!) – a real-world example is how enviroBLOQ uses IOTX rewards to support their data contributors.
- Increased Visibility: Benefit from co-marketing efforts with IoTeX, like in this case with DePIN Connect:
- Exposure to IoTeX's Stakers: With over 50K community members actively staking today, DePIN Delegates often become top 36 voters, amplifying visibility.
Now, let's shine a spotlight on the newest DePIN Delegates already making an impact and hear what they have to say about their experience so far:
Mycelium Networks is an enterprise-grade deployer and operator of DePINs. Mycelium is part of the IoTeX accelerator program, serving as a real-world testing ground. They operate the world's first DePIN Testbed, an exciting space for testing new and existing networks using physical infrastructure. Mycelium is all in for IoTeX and the DePIN ecosystem.
“Running an IoTeX Delegate is straightforward and secure. Mycelium Networks actively stakes with IoTeX because it’s great way to secure the IoTeX network and earn yield for our efforts. Plus, through their DePIN Delegate Program, we’re able to amplify our impact by allowing for our peers to also contribute even more overall stake. IoTeX is a DePIN leader with a very talented team, and we are thrilled to support at every level. As complicated as DePIN can be sometimes, staking with IoTeX was an easy decision.”
Dmail Network is revolutionizing communication infrastructure with its AI-driven decentralized communication infra. This innovative service provides users with encrypted email options, streamlined notifications, and specialized marketing solutions that span multiple blockchain networks and decentralized applications. It's a versatile tool designed to meet the needs of individual users, developers, and marketers alike.
“For most people, there's no need to operate your own relay, as it's both cumbersome and costly; the default service should suffice. However, if you are a tech-savvy individual and want to ensure your communications are absolutely tamper-proof, you might and should consider running your own relay. This ensures you always maintain ownership of all your information and data. Become one of IoTeX's DePIN Delegates, helping us shape the future form of Dmail products, while Dmail, as an excellent proxy operator, will support the future ecosystem of IoTeX.”
DePIN Connect acts as the bridge between DePIN projects and the vibrant DePIN community. Their mission is to foster connections and facilitate engagement within the Decentralized Physical Infrastructure Networks ecosystem. With a commitment to both technology and community building, they empower DePIN initiatives to thrive through meaningful connections, awareness, and collaboration.
“Our growing community consists of the best and brightest from around Web3 and the expanding DePIN sector. Our goal is to bring together the project founders and the community that supports them. We bring the latest updates, announcements, and news to our community. With the strong presence that IoTeX has in the DePIN sector of Web3, it’s only natural that we show our support and commitment to IoTeX as a Delegate Operator.”
Hotspotty is developing the DePIN Hub, poised to become the cornerstone of the expansive DePIN ecosystem. With a visionary goal of introducing millions of non-web3 individuals to DePIN ecosystem, Hotspotty is dedicated to democratizing access to technology. By offering educational resources, ensuring transparency in operations, and presenting opportunities for earning passive income, Hotspotty is not just a tool but a movement towards creating a more connected and equitable world. Its foundation of building decentralized wireless networks is a testament to its belief in the power of community-driven technology to make a tangible, positive impact on the world.
“We at Hotspotty are deeply committed to the evolution and expansion of the DePIN space. Our decision to become an IoTeX delegate was driven by a shared vision and beliefs that this ecosystem is the single most important one to bring crypto to the masses. Staking your tokens with us is a great way to get some extra rewards at the same time helping secure the network and grow the space. Together with IoTeX, Hotspotty is set to unlock new possibilities and drive meaningful progress in the DePIN realm.”
Crust Network is a layer 1 blockchain built on substrate. They incentivize the creation of storage orders and storage node use on the IPFS network, making them one of the largest decentralized cloud storage systems. Host websites, dApps, NFTs, and personal files with ease on Crust Network.
“DePIN, as a relatively new and significant concept, requires the support and collaboration of more projects. Crust is delighted to join forces with IoTeX in promoting this exciting field. Together, we can create a more comprehensive and robust DePIN ecosystem.”
Western Engineering develops hardware and software solutions for energy conversion, monitoring and management from renewable sources and for energy efficiency. Western Engineering uses IoTeX and W3bstream service management platform for the data validation via blockchain of Westernchain: a patented accounting system for energy exchanges between prosumers, producers and consumers of energy within a renewable energy community and aimed to maximise collective self-consumption with an interface for automation, monitoring and control.
“We strongly believe that we must give power back to people in various aspects of life, especially decision-making. For this reason, we embrace the concept of energy decentralization, thanks to energy communities and microgrids, where every user can be an active user and contribute to the decarbonization of the planet. For us at Western Engineering there is no decentralization of energy without decentralization of data. For this reason, we chose IoTeX with the aim of restoring centrality to the human being in personal, cultural and sustainable development.”
Port3 is a data layer protocol for Web3. It standardizes and aggregates both off-chain and on-chain data, thereby creating a robust and accessible data layer for all Web3 applications. Its goal is to ease the transition to Web3 by bridging the user gap.
“Port3 is dedicated to maintaining top-tier infrastructure and staking services for PoS projects. Through our involvement in Web3 Quest and Data Layer, we aim to extend IoTeX to communities of over 2800 projects and 1.3 million users.”
Nabox is not your average cross-chain DID application – it's your gateway to the multi-chain world. Nabox allows you to manage assets across different blockchains, from DeFi to GameFi and NFTs. Embrace the future with Nabox and explore the possibilities of Web3.
“Nabox is committed to bringing ordinary users into the Web3 world, and DePIN can help this very well.”
Dora Factory is the digital infrastructure of DoraHacks, a leading global hackathon organizer and developer incentive platform. Dora Factory creates protocols, toolings, and public good infrastructures that help open source communities and frontier tech builders to thrive. As the initiator of Public Good Staking, Dora Factory aims to empower the global hacker movement and bring future technology to the present.
“With the launch of Public Good Staking on IoTeX, Dora Factory envisions a thriving Proof-of-Stake blockchain ecosystem where developers can receive funding through staking, ensuring sustainable growth and innovation. By enhancing security, supporting DePIN and Frontier technology, and facilitating decentralization, Dora Factory will work with IoTeX to shape the ecosystem's future.”
DePIN Alpha is the essential companion for enthusiasts of the DePIN community, offering a wide range of comprehensive guides. The mission of DePIN Alpha is to present both alpha and beta guides, rich in valuable insights, detailed step-by-step instructions, and profound knowledge. This service is designed to empower and assist DePIN enthusiasts on their journey, regardless of their experience level. DePIN Alpha stands as a trusted resource, dedicated to helping users unlock the full potential of the DePIN ecosystem.
"The future belongs to those who believe in the beauty of their dreams." At DePIN Alpha, we dream big of a decentralized infrastructure where individuals operate their infra, control their own data and identity. With IoTeX's bleeding-edge innovations in DePIN technology, they are positioned at the forefront, leading the charge into the next era of mass adoption. The road ahead won't be easy, but their team is fueled by the conviction that we can and will shape the future. DePIN Alpha was established to achieve this goal together with IoTeX. The time for DePIN is now!”
Solaxy powers a DePIN with M3tering Protocol that's democratizing access to clean energy. It incentivizes individuals and institutions to invest in distributed energy resources, such as rooftop solar, and become electricity providers for under-served communities. By also harnessing yields of an IoTeX's consensus node and innovative DePIN infrastructure, Solaxy is able to offer participants a compelling combination of stable returns from the delegate node, along with protocol revenues accrued by participation in the M3tering Protocol.
"We chose to become an IoTeX delegate because we believe in the transformative power of blockchain technology to democratize access to clean energy. IoTeX's robust infrastructure, commitment to decentralization, and focus on real-world use cases align perfectly with the Solaxy mission. By operating as a delegate, we're contributing to the security and governance of the IoTeX network, while also showcasing the potential of DePINs to drive positive change in the real world."
The Journey Continues
As of today, we've received over 180 million votes for our newest DePIN Delegates, and this is just the beginning. The collaboration across the DePIN category is set to soar as more projects join us as Delegates in the coming months. Any projects, communities, or individuals that want to join as an IoTeX Delegate, reach out to [email protected]. Together, we'll shape the future of decentralized and permissionless networks.