2026-01-18 12:34:53

DePIN projects generally have a stubborn problem — they thrive in a bull market but fail in a bear market.

Where does the problem lie? Fixed token issuance. Regardless of whether the project generates real usage demand or has revenue support, tokens are released to providers every day. In the long run, this creates a vicious cycle:

Market demand declines → token prices come under pressure → staking returns decrease → providers start to withdraw → network capacity diminishes → ecosystem usage demand further shrinks → the entire system spirals downward.

This mechanism determines that many DePIN projects are often just "trend followers" during boom cycles, rather than independent revenue-generating protocols. To truly survive, they need to find ways to tie token issuance to actual usage and revenue, rather than releasing tokens blindly.

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pumpamentalist

· 2h ago

Basically, it's a pump-and-dump mechanism, with early aggressive token releases to suck blood. Once the market cools down, the facade is exposed. --- A typical Ponzi scheme design, without real income support, how can it survive long-term? --- So DePIN is now just a castle in the air; it depends on when the next bull market comes to survive. --- The fundamental problem is that no one has thought about how to make the project self-sustainable; it's all about releasing tokens to keep it alive... --- This guy is right, it needs to be linked to real demand and income, or it will fail sooner or later. --- I just want to know if there are any projects that truly implement dynamic issuance; it seems most are just talking nonsense. --- Unstable, another seemingly high-end mechanism, but in reality, it's all tricks.

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TheShibaWhisperer

· 6h ago

To be honest, I'm already tired of this logic. DePIN is just like this. They can't generate real value, only rely on printing currency to keep it afloat. Eventually, it will fail.

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NFTragedy

· 6h ago

Frankly, it's just drinking poison to quench thirst—it's bound to collapse sooner or later.

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CodeZeroBasis

· 6h ago

Basically, it's printing money until self-destruction. Without real income support, how can we survive? --- This cycle is obvious to see through. No wonder many DePIN projects are just ways to cut the leeks. --- Token issuance decoupled from revenue is doomed to be a dead end. --- When the bear market hits, it exposes everything. I really can't stand these artificially inflated projects. --- Instead of flooding the market every day, we should think about how to generate actual revenue, brother. --- The real problem is that most teams haven't really figured out a profitable model. --- Honestly, that's why I'm becoming more and more pessimistic about the DePIN track.

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zkNoob

· 6h ago

That's why most DePIN projects are just air, only to harvest quick profits.

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MemeCurator

· 6h ago

It's just a recursive dead loop, who will save these projects?

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