In Brief
Tom Trowbridge, Co-founder of Fluence, breaks down the formula for how DePIN protocols can outperform the rest of crypto — and win. In this talk, he explains why token price growth isn’t driven by hype, but by real traction and token economic design. Using Geod, Helium, and Fluence as case studies, Tom illustrates how DePIN networks can decouple from crypto markets, attract enterprise users, and build sovereign, scalable infrastructure. He ends by announcing the DePIN Pledge — a movement to decentralize the Internet, AI, and cloud infrastructure.
Tom Trowbridge: Why DePIN Tokens Will Outperform the Market
As a co-founder of Fluence and an early investor in Web3 infrastructure, Tom Trowbridge has a bold thesis: DePIN is already decoupling from the rest of the crypto market — and there’s a formula behind it.
Traction + Token Economics = Long-Term Token Value
While most tokens rise and fall with market sentiment, DePIN protocols that deliver real-world utility (and design their token models properly) are already showing signs of resilience — and even growth.
DePIN Traction Is Real — And Growing
DePIN is no longer theoretical. Tom highlights key projects:
Filecoin stores 2 exabytes of data — the equivalent of 2.3 billion encyclopedias.
Grass has 2.5 million bandwidth providers sharing data with AI firms.
GeodNet surpassed its centralized competitor with 10,000 precision antennas.
HiveMapper has mapped over 450,000 km with 8,000 drivers.
Helium sees 400,000 phones/day offloading data — and growing 25% per week.
These projects prove that decentralized networks can outperform incumbents in coverage, scale, and cost.
Tokenomics: How to Make Traction Matter
Real usage means nothing if it doesn’t create token demand. Tom outlines two working models:
Buy & Burn (e.g. Geodnet)
80% of Geod’s revenue is used to buy and burn its own token.
This creates automatic demand without needing new buyers.
It's on-chain, auditable, and resistant to inflated revenue claims.
Stake (e.g. Fluence)
For marketplaces like Fluence, staking secures the network.
More usage → more hardware → more staking → more locked tokens.
Fluence requires $12K staked per CPU to ensure trust at scale.
Together, these models link protocol success to token value — in a transparent and scalable way.
Why Fiat Integration Is Crucial
Enterprises can’t budget with tokens. Tom emphasizes:
Accept fiat (credit cards, bank transfers)
Price services in fiat (USD, EUR, etc.)
Use tokens on the backend for staking, rewards, etc.
This is the only way to reach Web2 adoption at scale. Without it, token-only projects risk limiting themselves to crypto-native users.
Case Study: Fluence and the Cloudless Internet
Fluence is a decentralized CPU network that powers cloudless computing. Unlike GPU-heavy AI networks, Fluence focuses on the billions of CPUs that run everything else — from apps to web infrastructure.
Key points:
Live in 6 Tier-1 datacenters
First customers entering production
$6M ARR pipeline
Staking model: $12K per CPU (denominated in fiat)
Built for price-sensitive node providers and Web2 enterprises
Fluence isn’t trying to replace the cloud. It’s offering an alternative: no lock-in, lower cost, and open architecture.
Introducing the DePIN Pledge
Tom ends with the DePIN Pledge — a movement to decentralize critical internet infrastructure.
“This isn’t about replacing everything — it’s about moving something.”
The first cohort includes projects across compute, storage, bandwidth, and location. The pledge asks companies to commit to running at least one DePIN solution by the end of 2025.
Why it matters:
Centralized cloud, AI, and data services create monopoly risks
DePIN is the only scalable alternative
Public commitment helps DePIN gain visibility and trust
Tom calls on all projects to read the manifesto, take the pledge, and join the movement to build a sovereign internet.
