Looking at PerpDEX and DePIN,
"Trends are cyclical" comes to mind.
Do you remember the old Coinbit 현백이형?
Coinbit had its own token called DEX.
The name itself was a coin ahead of its time.
To acquire DEX, you had to trade on Coinbit (?).
Uh, what's this... PerpDEX mining meta?!
Coinbit, along with Coinzest COZ and Cashirest CAP, can be seen as first‑generation exchange mining meta tokens.
Coinbit = Hyperliquid
Coinzest/Cashirest = Lighter/edgeX
And then a flood of newcomers appeared
비트랜드
코블릭
etc... I don't remember them well.
Everyone was on the 벌집계좌, and Bitland, due to an error, dumped about 1 billion to users each, allowing price manipulation...
It's not actually DePIN, but there were node metas masquerading as DePIN, called Masternodes.
Pagu also claimed to run a Masternode, pooled all the non‑existent money at the time, staking over 100 million, which later turned into scraps...
Dash, Sys, etc... I can't recall what Pagu did on his home PC,
Back then the famous one was the so‑called "Coin Laundromat" known as "Cryptopia".
There were so many petty coins that DOGE was used as a reserve currency...
I recall that some people made money when the DOGE they bought back then rose.
Information was mainly exchanged in cafés like 비트맨, 비투카,
The main one was a café called Masternode Korea, which seems to have disappeared now.
I wonder how John 형 is doing...
Anyway, everything died and I thought this would never return, but starting with Xai, nodes like Aethir, Carv, 0G suddenly took off.
I missed XAI because of Masternode PTSD, but Aethir and Carv were still fine.
If we look at it,
Coinbit DEX mining meta was around 2018,
In fact, the first wave started in 2023 with Vertex, LogX, Aark, BlueFin, etc.,
By 2024 it scaled up with Hyperliquid,
Now, led by Lighter, edgeX, the sector is poised to become a pillar of the crypto scene.
Masternodes were also around 2018–19,
Xai, Aethir, Carv started from late 2023,
They skipped 2024,
But perhaps something is budding from the end of 2025?!
Just a vague feeling like that.
For reference, the meme image is
called "Sailor Moon's fashion sense from 20 years ago",
a post from 10 years ago...
(supposedly from 30 years ago)