9 eye-catching new DP projects

IoTeX, a decentralized physical infrastructure network (DePin) platform, recently unveiled the Surf Accelerator suite. He inaugurated nine new DP projects to advance the sector.

These are all relatively new projects with very little traction on social media. Some of the projects may not have launched their main network yet.

DP projects to protect the eye

Nubilla is a leading network that creates a blockchain focused on environmental, social and governance (ESG) issues. Nubila improves sustainability investments by providing accurate local weather information.

In July, the project raised $2.5 million from backers including IoTeX, VeChain, and Boston Consulting Group, and now has 53,000 followers on X.

Read more: What is DePIN (Decentralized Physical Infrastructure)?

Next, the Qualoo network emerges, setting internet quality in real-time with DPin initiative. By compensating node operators with QXT tokens, Qualoo aims to improve service quality for both users and providers. However, it is likely to face stiff competition from established Depin giants such as Helium.

Qualoo is going to develop a strong social media presence with only 3,400 followers on X.

Then there's SWEATEMPLE, an AI-driven fitness DePin where activities earn rewards. Powered by TikTok's founder and Stanford-developed music algorithm, the platform offers customized workouts and virtual training. However, his social media presence has declined with no posts since February 2023 and 21,200 followers raising engagement concerns.

SCANNIT stands out by rewarding users for scanning receipts and verifying transactions, thereby enhancing financial digital identity ownership. However, it has the smallest following with only 166 followers, indicating the need for a wider reach.

IoTeX highlights DeFi-focused DeFi projects

In addition, Magma Protocol will introduce the WEN stablecoin to IoTeX, which aims to support the development of DeFi and DePin as a USD-pegged asset. However, the project only has 3,800 followers on X.

Bedrock also capitalizes on the current reconfiguration hype by introducing the first multi-asset liquid reconfiguration protocol for IoT. With the support of OKX Ventures, it enjoys a strong base of 31,000 followers.

Moreover, Quenta operates as a derivative decentralized exchange (DEX) on IoTeX, providing a flexible capacity to trade new assets. It aims to become a liquidity hub for DPin derivatives, attracting more than 10,000 followers and expanding trading opportunities.

Loxodrome, another important project, positions itself as a next-generation DEX liquidity hub. It facilitates trading, voting and funding in the IoTeX ecosystem. With around 17,000 followers, she is actively preparing for the upcoming token generation event.

Read More: How Artificial Intelligence (AI) Will Change Crypto?

Finally, PinSwap uses AI to facilitate trading and remittance on IoTeX, enhancing the DeFi experience with community management and rewards. With nearly 11,000 followers, it promotes fair pricing and access to finance.

“These hand-picked DPin projects are about to start a huge growth trajectory,” IoTeX said.

These new projects offer high growth prospects as they grow in the IoTeX ecosystem. However, potential investors should consider the inherent risks associated with innovation in the volatile crypto market. Still in their infancy, these projects must navigate many market and security challenges as they try to establish themselves.