Interpreting CoinList’s New Project Meson: DePIN Another Rising Star in the Field
Today, CoinList announced the launch of the DePIN project Meson Network.
Meson Network taps into the current hot trend of DePIN and is a leading player in the decentralized bandwidth trading market, with a large user base and node resources. The project originated from decentralized storage businesses and gradually expanded its service scope to include social, blockchain, and artificial intelligence data collection fields.
Below, Odaily will provide you with a quick overview of Meson’s token information and project overview.
Table of Contents
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Token Sale Information
Token Uses
Token Economics
Project Overview
Meson’s native token is called MSN. The token sale will start at 18:00 UTC on February 8, 2024 (02:00 Beijing time on February 9), with the following details:
Quantity: 2,500,000 MSN tokens, accounting for 2.5% of the total supply.
Price: $1.75 per token
Lock-up period: Unlock 1/6 around March 15, 2024, with the remaining tokens unlocked monthly within 6 months.
Initial purchase limit: Minimum of $50, maximum of $3,000, limited to USDT and USDC.
Note: Meson may decide whether to provide an additional 2,500,000 MSN tokens (2.5% of the total supply) for this sale during the sales period.
Eligibility: Users must hold a minimum purchase amount (50 USDT or USDC) in their CoinList wallet before the registration deadline (12:00 UTC on February 5, 2024, 20:00 Beijing time on February 5, 2024). This sale is not open to residents of the United States, China, Canada, South Korea, and certain other jurisdictions.
As the incentive and governance token of Meson Network, MSN has a total supply of 100,000,000 tokens and serves the following main functions:
Rewarding miners
Miner staking
Payment method for users
Participating in protocol governance (voting for the development or modification of protocol parameters)
Distributing tokens to miners as rewards for providing server resources
Currently, due to the transfer function of Meson’s test token on Ethereum being locked, staking tokens have no benefits. Users of the service will pay with MSN to obtain additional bandwidth. These tokens will then be repurchased and rewarded to miners.
Token distribution is as follows:
Private token sale: 26,000,000 MSN (26%)
Public token sale: 5,000,000 MSN (5%)
Ecosystem: 27,000,000 MSN (27%)
Foundation reserve: 20,000,000 MSN (20%)
Technical team: 15,000,000 MSN (15%)
Partners: 6,000,000 MSN (6%)
Testnet mapping: 1,000,000 MSN (1%)
All future token inflation will come from mining rewards. The initial mining inflation rate is 5% per year, with a yearly decrease of 0.5% thereafter.
Today, Meson Network announced that it has completed a new strategic financing round led by Presto Labs, with a valuation of $1 billion. The specific amount of financing was not disclosed.
Meson Network focuses on DePIN+AI and aims to build an authorized decentralized physical network. The Meson network’s “DePIN” nodes are developed using user-friendly technology and can accommodate various hardware, such as personal laptops, servers, and IoT devices. By utilizing the idle bandwidth of these network nodes, Meson establishes an economic cycle that connects idle resources with business needs. Its vision is to become the cornerstone of decentralized storage, computing, and thriving Web3 Dapp ecosystems.
Simply put, the logic of this business is straightforward: renting out users’ unused bandwidth resources to other users.
According to the Meson official website, the total number of its consensus nodes has exceeded 100,000, currently at 115,194 nodes, with IDCs widely distributed around the world. Its bandwidth capacity is approximately 20 Tb/s, with an average latency of 90 ms.
Meson’s protocol model provides flexibility and scalability, aiming to create a decentralized bandwidth market. Under Meson’s model, users can convert surplus bandwidth into tokens, making it convenient for those in need to access global bandwidth resources. This will be an interesting attempt to activate the long tail market.
Another business scenario for Meson is the growing ledger data of the Web3 network.
For example, BNB Chain utilizes Meson Network’s global node distribution to shorten the synchronization time of the entire chain’s state snapshot. BNB Chain’s transaction data has already exceeded 2.5 TB, and synchronizing snapshot data between different nodes takes about 20 hours. Therefore, synchronizing data among BNB Chain nodes located around the world has always been a complex task. With Meson enabled, the entire network’s snapshot synchronization time is reduced to about 1 hour.
For developers, Meson also provides the Meson Cloud developer platform, which includes three products: Gateway X, mCloud, and mPad.
Gateway X is a gateway service provided by Meson, acting as a bridge between Web3 and traditional Web2 services such as Arweave/IPFS. GatewayX provides developers with unlimited cache storage capacity and charges based on bandwidth usage. It also provides dedicated gateway connections, supporting various Web3 domain name resolution acceleration services, facilitating seamless interaction with Web2 networks. Additionally, it supports “one-click import” for easy migration/backups of Arweave and IPFS files.
mCloud is a Web3 PaaS solution that provides developers with application hosting and deployment services. It supports full-stack application and docker deployment technologies, offering reliability and high redundancy. Developers can deploy applications on both traditional data centers and various blockchain nodes simultaneously to prevent service unavailability due to single point dependencies.
mPad is a new way of content distribution. The underlying protocol does not require a platform carrier and can store multiple protocol objects, reducing the risk of file loss. It supports P2P transmission protocols such as Arweave, IPFS, and Bittorrent, and uses GatewayX to improve retrieval speed. This service is also censorship-resistant, distributed through the underlying protocol, breaking the limitations of regional distribution, allowing for free transmission and sharing of content.
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