DePIN Sector Competitor Comparison 💠 XPIN 1. Practical Product - eSIM + Hardware - Router / Hotspot / Base Station, etc. 2. Economic Design - DePIN + PayFi System - Payment / Profit / Reward Loop Structure 3. Risks - FDV Burden - Circulation Mismatch - Possibility of Holding Concentration The term "circulating volume" here refers to the data differences across platforms. [Major Competitors] - Helium: A representative DePIN based on physical wireless infrastructure/hotspots - World Mobile Token: A narrative centered on communication infrastructure/connectivity - NKN / DENT: Crypto-protocol projects in the "Network/Communication" category 💠 Comparison 1. Practical Product - Hotspot / Communication Infrastructure [Varies by Project] 2. Economic Design - Primarily Infrastructure Construction Rewards and Partnership-Based Demand 3. Risks - Relatively More Accumulated Long-Term Operational Data XPIN Network's Differentiation Focuses on Communication Usage Fees and PayFi payments and hardware mining. However, compared to competitors, there are currently few proven real-world usage indicators.