ParaFi Capital invests in the decentralized network hardware infrastructure project, GEODNET, by DePIN

On December 13, the decentralized network hardware infrastructure project DePIN's GEODNET announced on platform X that it has received investment from ParaFi Capital. The specific amount of investment has not been disclosed yet. The new funds are intended to support its construction of a global real-time dynamic network, providing services for robotics, autonomous driving and agriculture sectors. It is reported that GEODNET previously revealed it is building a decentralized GPS network based on Polygon PoS. Each operating node will receive token rewards and allows the use of dollar income to repurchase and destroy tokens.