DePIN Performance Sheet (30 days) 𝘚𝘤𝘰𝘳𝘦 𝘰𝘶𝘵 𝘰𝘧 100 $IO : 88.5 $DBT : 82.0 $GEOD : 79.2 $HNT : 68.0 $AKT : 65.5 $GLW : 57.8 --------------- $LPT : 46.0 $RENDER : 42.5 $FIL : 41.5 $NODE : 32.2 $NATIX : 29.2 $GRT : 15.0 Everyone ranks DePIN by market cap. That tells you what the market thinks a project is worth, not what it's actually earning. We built a DePIN Performance Score instead, out of 100, using four things pulled straight from 30 days of on-chain revenue plus live market data: → Revenue scale (are you actually making money) → Revenue trend (is that number growing or dying) → Consistency (steady earner or one lucky week) → MC/ARR (how expensive is the token relative to what it earns That last one flips how most people read charts. A $650M market cap sounds "bigger" than a $500K one. But if it's trading at 600x its annualized revenue while a tiny project is trading at 0.1x, the tiny one is the one actually pulling its weight. Result: IO, Dabba, and GEODNET top the board, not because they're the biggest names, but because their revenue is real, growing, and not wildly overpriced relative to it. Meanwhile a few "blue chip" DePIN names sit mid-pack because their valuation has run way ahead of their fundamentals.