Article source: Yuliya

In the current cryptocurrency market, a large number of investors are still chasing zero-sum games, while DePIN (Decentralized Physical Infrastructure Network) is opening a new path for value creation. With the rapid development of Web3 technology, the deep integration of DePIN and DeFi (Decentralized Finance) is reshaping the development landscape of the blockchain industry. This integration not only enhances the liquidity of physical assets but also brings substantial innovation to the entire blockchain ecosystem.

Recently, the Hivemapper Foundation announced a strategic partnership with Kamino and Jito Labs to jointly launch the HONEY-JitoSOL liquidity vault incentive program. This innovative liquidity solution is built on the Orca trading platform and aims to provide an unprecedented user experience and additional returns for HONEY token liquidity providers.

In this regard, Tushar Jain, managing partner of Multicoin Capital, commented: "This is a powerful example of the composability between DePIN and DeFi. Solana's dominance in the DePIN space is a huge advantage for Solana DeFi."

Project background and development status

Before delving into this collaboration, it is essential to understand the development history of Hivemapper. As a decentralized mapping network built on the Solana blockchain, Hivemapper has developed rapidly since its launch in November 2022, having mapped 29% of the world's roads within two years. Through innovative "Bee" dashcam devices and AI technology, the platform captures over 28 million kilometers of street-level imagery each month, growing at a rate five times that of Google Street View. According to official data from Bee Maps, the project has completed over 390 million kilometers of decentralized map drawing.

In addition, Hivemapper uses a HONEY token incentive mechanism to attract users to participate in data collection while serving the multi-billion dollar enterprise mapping market. It has already secured investments from well-known institutions like A16Z and Binance, and has established partnerships with several global mapping giants, providing solutions for the development and maintenance challenges of high-precision maps through an innovative AI + DePIN model.

Innovative liquidity solution

Through this collaboration with Kamino and Jito Labs, Hivemapper has launched an innovative liquidity solution built on the Orca trading platform. This program will provide up to $17,000 in JTO and HONEY rewards each month, bringing multiple benefits to HONEY token liquidity providers:

  • Automated trading fee income

  • HONEY token incentives

  • JTO token incentives

  • ORCA token incentives (additional reward of 2,500 ORCA per week for the first two weeks)

Automated design that lowers participation barriers

Considering that many DePIN users may be first-time participants in DeFi projects, Kamino has specially designed a fully automated vault infrastructure:

  • All fees are automatically reinvested: transaction fees are automatically reinvested into the user's position

  • Intelligent rebalancing: the system automatically adjusts asset allocation to optimize returns

  • Professional analysis tools: real-time tracking of investment performance to help users cope with the impermanent loss risk brought by HONEY and JitoSOL price fluctuations

Market response

The market has responded positively to this innovative collaboration. According to official data, the HONEY-JITOSOL liquidity pool is performing impressively:

  • Current Boosted APY reaches 36.02%

  • In the first 4 hours after launch, TVL exceeded $500,000

  • TVL is about to reach the maximum capacity limit of $1 million

These data not only validate the market's recognition of the DePIN and DeFi integration model but also showcase the tremendous growth potential of this innovative model.

Industry insights and future outlook

The significant importance of this innovative collaboration lies in pioneering a new model of deep integration between DePIN and DeFi. In stark contrast to the numerous zero-sum games currently in the market, Hivemapper is bringing a new direction for the industry through substantial innovation, as noted by the renowned venture capital firm a16z crypto: "DePIN represents the most promising innovative direction in the cryptocurrency field."

With the launch of more innovative mechanisms, Hivemapper is opening new pathways for the deep integration of DePIN projects and the DeFi ecosystem. This innovation not only enhances user experience but also brings continuous growth momentum to the entire ecosystem.

For users looking to participate in blockchain innovation, the HONEY liquidity vault offers a low-threshold, high-efficiency entry, allowing users to easily enjoy the benefits brought by DeFi innovation. This is a prime example of how blockchain technology empowers the real economy, showcasing the infinite possibilities of decentralized finance.