Electric Vehicle DePIN PowerPod Announces TGE on IoTeX

PowerPod's global vision for decentralizing the EV-charging network is rapidly becoming real with the upcoming launch of their native token, $PPD, on the IoTeX network. The network token launch as well as the development and launch of their universal charging adapter, are two big steps forward in expanding PowerPod's utility ecosystem and embracing the revolutionary potential of web-3 to change the energy landscape.

The IoTeX DePIN ecosystem is thrilled to welcome PowerPod, a transformative addition that expands the potential applications of DePIN technology within the electric vehicle (EV) and sharing economy landscapes. PowerPod's innovative approach reduces the barriers to entry for EV ownership while empowering people to participate in the "sharing economy 2.0" through the monetization of their charging stations. This collaboration exemplifies IoTeX's unwavering commitment to its vision: DePIN technology accessible and beneficial to all.

What is PowerPod?

PowerPod is on a mission to redefine EV charging through a universal charging network that spans the globe. With a focus on addressing the challenges of coverage, availability, hardware dysfunctions, and interoperability among charging providers, PowerPod is introducing a proprietary, internet-connected, and Tesla-super-charger-compatible charging device. PowerPod is not just building new EV charging hardware; they see themselves as the "couriers of energy," delivering a seamless charging experience to electric vehicle owners while allowing individuals and businesses to monetize their existing charging infrastructure.

The vision of PowerPod extends beyond simply open-sourcing charging stations. PowerPod aims to leverage its inrounds in the $350 billion EV-charging market to build a global energy storage network integrated with a vehicle-to-grid interactive network. This approach promises to turn EVs into two-way batteries while lowering global energy costs and reducing barriers to entry into the charging and energy storage markets.

Leveraging IoTeX for a Sustainable Future

PowerPod's decision to mint their native $PPD token on the IoTeX network is a strategic move towards realizing their ambitious goals.

"We chose to build on IoTeX because of its longstanding expertise and established connections in the DePIN industry. IoTeX's modular Web3 infrastructure empowers us to forge a fluid connection between the physical realm of renewable energy networks and the digital expanse of blockchain applications." – PowerPod

PowerPod's choice of IoTeX as the foundation for their blockchain initiatives is rooted in IoTeX's longtime commitment to DePIN, now spanning three crypto cycles. Together, PowerPod and IoTeX are not just addressing the technical aspects of renewable energy distribution but also leading the charge in the Internet of Energy innovation.

The integration of PowerPod's solutions with IoTeX's modular web-3 stack represents a significant leap towards revolutionizing the energy landscape. By personalizing renewable energy usage and optimizing its redistribution, we are empowering the PowerPod community to collaboratively build a sustainable future.

Riding the DePIN Surf Wave

PowerPod is a member of DePIN Surf cohort 1. DePIN Surf is the industry’s first DePIN-focused accelerator built by IoTeX in partnership with FutureMoneyGroup and ForesightX. Cohort 1 launched at ETHDenver, 2024 and features eight elite seed stage projects preparing for their global network launches. The accelerator deploys $50k directly into each company while connecting founders with the largest DePIN VC network in the world to hit their fundraising goals.DePIN Surf specializes in helping seed stage DePIN founders fundraise and exponentially grow their communities. Above all, joining the accelerator means joining a trusted community of founder peers that helps everyone to go faster together. Cohort 2 applications are open now.

Watch their full presentation at R3al World:

About IoTeX

IoTeX is DePIN's only modular infrastructure platform connecting smart devices and real-world data to blockchains. IoTeX's middleware solution W3bstream provides the computation and verification of real-world data, bringing it on-chain while offering the modularity and customizability builders need to facilitate mass adoption. As the leading provider of DePIN infrastructure, IoTeX facilitates new rewards from devices and on/off-chain activity for users, turns personal devices into communal economies, and tokenizes the "data of everything." Backed by a global team of 60+ research scientists and engineers, IoTeX combines its EVM-compatible L1 blockchain, off-chain compute middleware, and open hardware to connect billions of smart devices, machines and sensors, and dApps across the physical and digital world.