DePIN Tokenomics Part 3: What Drives Valuations? DRNs vs. PRNs, Fundamentals, Liquidity Premiums, Scalability, and More

In the 3rd part of our series, the deping tokenomics is dissected by structural drivers who form estimates through the protocol depin. Comparing networks of digital resources (DRNS) and physical resources networks (PRNS), we explore the basics such as the creation of revenue, capital intensity and scalability model contributes to the defects of the assessment between the two categories. However, our analysis reveals that the approach of liquidity, especially through a large centralized exchange list, often plays an even more determined role, driving a premium for assessment of values ​​that cannot be fully explained by the basis. This report provides a framework for understanding the way this dynamics work and offers key insights for the founders and investors moving in the evolutionary landscape of the deposit.