DePIN is as dead as BTC in Feb 2014 when it crashed 90% from a high of $1,200 to $111.
The reality is DePIN is dependent on broader market conditions. Even if PMF is achieved and revenue is growing fast, a successful DePIN’s token may decline in a bear market.
The current InfraFi wave is a reaction to market volatility. InfraFi provides fixed yields regardless of crypto market conditions enabling continued network growth.
However when markets recover, DePIN tokenomics will drive more efficient infra expansion and most token holder profit. You don’t want to be left out cold without a DePIN token then.
In the long run InfraFi will fuel credit based infra growth while DePIN tokenomics will fuel equity based growth.
Protocols will use both opportunistically just as companies do.
1/ time for some rage bait
DePIN is dying and i don't see it coming back
the tokenomics of DePIN deny the physics of finance - these teams are trying to build perpetual motion machines (a violation of the laws of thermodynamics)
onchain infrastructure finance is evolving...