DePIN Storm: WANG, JDI and Helium $mobile

The wind rises from Pingmo, the nine-story tower rises from the earth, and DePIN is the dawn in the crack

After the mining ban in September 2021, Chinese miners basically lost their dominance of the Bitcoin mining ecosystem, September 15, 2022 , Ethereum completed "The Merge" process. Except for Bitcoin, the mainstream currencies in the crypto world no longer have a PoW mechanism. The pledge network composed of major overseas exchanges and Lido controls the output of ETH.

In the history of Ethereum and Bitcoin, Chinese miners have made outstanding contributions. With the mining ban and the upgrade of Ethereum, Chinese miners have withdrawn from the stage of history. Except for exchanges, the Chinese have no say in the crypto world. At the same time, exchanges are facing the dilution of Western narratives such as DeFi, and are facing regulation and technology. double pressure.

In this historical process, Chengdu and Shenzhen are the two most injured nodes. The previous model was to ship goods from Shenzhen, put them on the shelves in Chengdu, and excavate them together. , and the cycle goes back and forth.

Now we have to go back to before liberation overnight, but after all, there is still a way out. Now it seems that history may have defined this way out as DePIN, but the person who can become a representative figure is WANG, a Chinese born in the United States born in the 1990s who has been active in the overseas DePIN community for a long time.

The right time, right place and right people: from San Francisco to Chengdu to Vietnam

Chengdu has been the capital of miners for the past decade.

If you have been to Chengdu, the high prices and low income here will definitely open your eyes, and the encryption industry is already one of the few high-end industries in Chengdu. income industry, and mining, or more specifically Base Chengdu's group of Bitcoin miners, once controlled the vast majority of the world's Bitcoin production.

A rich variety of small hydropower stations and relatively loose regulatory policies have created the most glorious generation in the history of Bitcoin. They lived like this for more than ten years until the building collapsed.

The 21-year mining ban has not only fundamentally changed the ecological order of miners. Most Chinese miners have cashed out and left the market, a small number have gone overseas, and an even smaller number have DePIN selected.

DePIN, or Helium, which adheres to the LORA IoT route in 2021, only exploded briefly and then fell.

Helium ushered in its darkest moment in 2022. WANG and his team did not give up and built an entire DePIN in the past two years. A number of ecological totems: JDI venture, JDIlab, Bobber community, mining machine brands of first-line DePIN projects such as Helium and DIMO, depinL2terminal protocol, etc. To exaggerate, WANG has created or participated in the current DePIN ecosystem you see.

At the same time, WANG’s team moved the production line to Vietnam and started a new journey in Vietnam.

Helium’s biggest mining machine supply convenience in 2021 is Bobber, and it is WANG who will discover this problem in San Francisco and work on solving it. After Bobber , dozens of peers flocked to Helium. Currently, Helium has more than 30 manufacturers, and the supply chain is no longer a problem. As of now, bobber.com is still Helium's largest miner community and brand.

JDIGROUP, a subsidiary of WANG, is the most active investment and manufacturing company in the DePIN field. It is responsible for connecting the supply chain in Asia with the DePIN narrative in the United States and setting up something square bridge.

This hidden boss started running his own Twitter (X platform) six years after joining the industry. Before that, most people were only used to CZ , Sun Yuchen’s name. From discovering Helium in 2019, to being forced to move from China, to Helium's darkest trough, WANG and his team never gave up, completing their true industry show, and deeply cultivating DePIN until the building was completed.

DePIN past events: WANG, JDI and Helium

WANG is too low-key. If it weren’t for the introduction by Twitter’s big V Mark (@shuaibaobaommd), most people might still be familiar with it. He knows nothing, but his true identity is the man behind the global DePIN.

Everyone can be famous for fifteen minutes, but WANG has been supporting the development of DePIN projects behind the scenes for a long time. Secondly, JDI has invested in almost all DePIN projects. If you are confused about this, then you should only follow up with them. portfolio, if you are a miner, then Bobber hotspot, HashDog drive mining cannot be bypassed. It is reported that the one-stop DePIN equipment sales platform bminer (b.xyz) has been launched.

Let me give you a background introduction. WANG, male, is an alumnus of Renmin University of China and the founder of OKX, Xu Mingxing. He first entered the industry from Dujun Node Capital and started working at Dujun Node Capital around 19 years ago. San Francisco has begun to come into contact with the DePIN concept. Helium is its first large-scale global operation project. In addition, there are also hardware such as DIMO, VPP (virtual power plant) and satellites, covering all areas of DePIN. In other words, if the Chinese are trading Unparalleled in all fields, WANG is the most typical representative of the Chinese in the field of DePIN.

Unfortunately, this is not a soft article, nor is it a ploy, but a story about how the elephant in the room hides itself.

JDI, Bminer (b.xyz) and bobebr.com basically have a complete layout of DePIN’s investment direction and hardware targets. To see the development direction of DePIN, look at this The dynamic between the two is most effective.

In addition, WANG personally prefers media and exchanges, and has invested in both. Businesses in the crypto world are essentially traffic-first. Only by attracting spectators can wealth opportunities be captured. His preference for exchanges stems from his passion for trading. WANG also believed in the wave that took Hong Kong by storm. But according to people close to him, WANG encountered a waterloo in Hong Kong and lost tens of millions of dollars.

When the Hong Kong concept was at its peak at the beginning of this year, WANG, who had been behind the scenes for a long time, also previewed the importance of Helium and DIMO through the POW'ER conference of Mars Finance. I wonder how many people are destined to capture these two codes.

You must study hard in your limited life! The Chinese are most likely to take the lead in the DEPIN field, leading the narrative

WANG’s style is All in, whether it is DePIN or any direction, the same is true for investment and the same is true for hardware .

DePIN has long been regarded as the exclusive preserve of American capital and institutions. In particular, Helium will conduct serious scrutiny of mainland nodes. Based on this, WANG, including its Institutions are also rapidly globalizing, tearing a crack under the white-led DePIN narrative.

Chinese have innate advantages in the DEPIN field, and we look forward to seeing more Chinese entrepreneurs emerge. After Helium Mobile experienced initial subsidies, its revenue will inevitably decline rapidly in the later period. In fact, I really hope that WANG can remain active on Twitter, and we can also see what new things DePIN can come up with.

As the man behind HNT hardware, it is his credo to win.