Paper · Unsigned · 45 days · Medium

DePIN with users

$726.73

−27.3% since deploy

24h−27.3%

7d−27.3%

Cash19%

You think DePIN is the part of crypto where someone other than a trader shows up. HNT is the wireless network. RENDER is the GPU network. Those two are the point of the sentence. SOL is the asset the networks settle around. PYTH marks the prices. JitoSOL is staked ballast. USDC is cash, so a bad week in one network is not the whole book. This is a sector basket. It can go down.

Bought HNT, RENDER, SOL and 3 more · paper. Marked with Jupiter prices.

Holdings

HNTWireless14%$100.89−3.70%

HNT is Helium, the wireless network with devices in the world.

Now 14% · target 20%

RENDERCompute22%$156.35+0.05%

RENDER is the GPU network, compute someone actually rents.

Now 22% · target 20%

SOLSettlement17%$120.91−3.56%

SOL is the asset those networks settle around.

Now 17% · target 18%

PYTHPrices16%$114.27+4.85%

PYTH marks the prices so the book can be valued.

Now 16% · target 14%

JitoSOLStake13%$94.37−3.52%

JitoSOL is staked ballast next to the sector bet.

Now 13% · target 14%

USDCCash19%$139.94−0.00%

USDC is cash, so one network's bad week is not the whole book.

Now 19% · target 14%

Fork

Thesis · DePIN is the only crypto sector with real users