Permissionless Labs, the organization behind the decentralized virtual infrastructure network (DeVIN) Pipe, has successfully raised $10 million in a funding round led by Multicoin Capital. This announcement precedes the planned testnet launch at the Breakpoint conference in Singapore.

Pipe utilizes an innovative tokenomics model to incentivize individuals to share their computing power. This approach is akin to decentralized physical infrastructure networks (DePINs) like Daylight, Uplink, and Peaq, which have gained traction for enabling resource sharing through decentralized networks.

Built on the Solana blockchain, Pipe aims to disrupt traditional internet infrastructure providers such as Cloudflare and Akamai by allowing users to scale up CDN nodes efficiently.