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「WiFi HODL Mining」, How does DePIN project Grass interact with Polychain investment?

2023-12-19 20:17
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The DePIN track, which has been heating up for months, has once again caught the community's attention as $MOBILE continues to hit new all-time highs. According to DePINscan data, the current market cap of the DePIN concept market has exceeded 3 billion. A new bull market urgently needs a new narrative, and outside the Bitcoin ecosystem, DePIN may be able to carry the expectations of Web3 Mass Adoption.


Related Reading: "In-depth Interpretation of the DePIN Track: Is it a case of "old wine in a new bottle" or a breakthrough into new opportunities?"


Some of the startups in the DePIN track are also active. Wynd Network received a $1 million investment led by No Limit Holdings in July of this year; on December 19, Wynd Network announced the completion of a $3.5 million seed round, led by Polychain Capital and Tribe Capital, with participation from Bitscale, Big Brain, Advisors Anonymous, Typhon V, and Mozaik.


Wynd Network is a startup focused on the decentralized artificial intelligence field, and its Chief Technology Officer stated: "We aim to make public web data more accessible to open-source AI projects. Decentralization is the only way to achieve this goal in a way that is both ethical and efficient." Wynd Network launched the decentralized network resource sharing platform, Grass, in June, which is currently still in the testing phase. This article summarizes Grass's interactive steps and development dynamics.


Project Introduction


The mechanism of Grass is for users to sell their unused network resources through Wynd Network to companies, labs, and other institutions. The buyer companies of Grass seek unused network resources to access a more diverse range of IP addresses, conduct market research, or perform tasks such as network crawling and AI training.


Users provide their idle bandwidth resources through Grass and receive points granted by Grass. These points will be "retrospectively converted into network ownership" at the end of the product's beta phase. Wynd Network has stated that once the product exits the beta phase, users will be able to earn up to $30 per month by selling bandwidth.



Interactive Tutorial


Grass currently only offers a desktop Chrome plugin account, with mobile support to be introduced later. Visit Grass.io, register an account with your email, and then add the Grass Extension Wallet extension.



On the plugin interface, log in with the email account you registered before. When it shows "Connected," it means the connection is successful. Keep your wifi connection active to continue earning Grass points. It's important to note that you need to turn off your VPN to earn points, as the user's point generation is not fixed and is influenced by the IP's geographical location and network environment.



In addition to earning points through Wifi idle mining, Grass has also established an incentive referral system. The referral system consists of three levels, where you can receive 20%, 10%, and 5% of the points generated by the users you refer at each level.



Development Update


The company behind Grass, Wynd Network, secured a $1 million investment led by NoLimitHodl in July and a $3.5 million seed round led by Polychain Capital and Tribe Capital on December 19.


In June of this year, Grass's testing officially launched. By November, Grass had over 1.5 million unique IP addresses registered and more than 100,000 downloads of the extension. In the past month, Grass has been attracting more attention, doubling its Twitter follower count in December. At the time of writing, over 18k users are following Grass's Twitter account.


On December 15, Grass's official Twitter account posted an announcement stating that due to a surge in new users, a system upgrade maintenance is underway, and indicating that the total number of users has doubled in the past 72 hours.


The reason for this surge in users may partly be due to riding on the coattails of Bittensor. Messari researcher Sami Kassab tweeted a research piece about Bittensor, a Crypto+AI concept project whose token TAO saw a 400% price increase in November, entering the top fifty cryptocurrencies by market capitalization. Sami believes that Bittensor is a platform that combines various decentralized AI service providers, and in the AI data collection category, Grass is the only project listed.


Related Reading: "Unveiling the AI + Crypto Dark Horse Bittensor (TAO), Who Exactly Are They?"



In the DePIN track, Grass's narrative is not particularly attractive, unlike Helium Mobile which can rely on Solana, or like DIMO, a project that has already achieved stable business growth. The market value of Wicrypt Network, a WiFi mining project similar to Grass's positioning, is still less than a million.


Related Reading: "Besides Mobile, Which Other DePIN Projects Are Worth Watching?"


But as the hype intensifies, one can look forward to the situation after Grass's mainnet launch. The official announcement on December 1 mentioned that the sole focus at present is to "launch the network and reward users."


Currently, Grass will consider launching the mainnet and issuing tokens only after accumulating a sufficient number of active nodes. On December 1, Gras announced the upcoming release of the Android version. Once officially launched, users can achieve 24/7 uninterrupted online presence, leading to an exponential growth in the number of active nodes receiving rewards. Considering the narrative of DePIN+AI and nearly zero-cost interaction, interested readers may want to give it a try.


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