Research Report | Roam Project Analysis & ROAM Market Valuation

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西格玛学长2025/03/05 07:57

By:西格玛学长

I. Project Introduction

Roam is a DePIN project built on the Solana blockchain, aiming to revolutionize traditional telecommunications. It enables users to share their home WiFi, creating a global decentralized wireless network while earning ROAM token rewards through a token-based incentive system. Roam utilizes Solana's decentralized identity (DID) and verifiable credential (VC) technology to enhance user data security and provide seamless WiFi connectivity. Once set up, devices can automatically connect and roam globally, eliminating the need for repeated logins and authentication, making connectivity more convenient.

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Roam has seen rapid growth, expanding to over 190 countries with 1.21 million deployed devices, making it one of the largest DePIN networks worldwide. In the second half of 2024 alone, the number of devices jumped from 400 ,000 to 1.2 million, with registered users surpassing 2.08 million. Roam currently has a strong presence in South Korea, China, Southeast Asia, and Europe, while gradually expanding into the U.S. and Latin America. Users can also connect to 3.5 million OpenRoaming hotspots via the Roam App. Additionally, Roam has introduced an eSIM international roaming service, allowing users to access low-cost global data services without needing a physical SIM card.

Beyond WiFi sharing, Roam is developing a decentralized telecom data layer to support the DePIN ecosystem. Its vision extends beyond WiFi connectivity, aiming to integrate decentralized storage, CDN networks, and IoT data, positioning Roam as a comprehensive data infrastructure platform. The project has raised $7 million in funding from prominent investors, including Volt Capital, Anagram, and Samsung Next.

II. Project Highlights

The World’s Largest DePIN WiFi Network – A Low-Cost Web3 Connectivity Solution

According to DePINscan data, Roam operates the largest DePIN network, leveraging its decentralized WiFi roaming protocol. It spans 190+ countries and regions, with over 1.21 million WiFi nodes and access to 3.5 million OpenRoaming hotspots, enabling seamless and automatic connectivity.

DID + VC Technology – Enhanced Security & Privacy Through Decentralized Identity Authentication

Roam utilizes DID (Decentralized Identity) + VC (Verifiable Credential) authentication to protect user identity and data privacy when connecting to WiFi. Once a device is connected, it can roam globally without requiring repeated password entries or account registrations, reducing security risks associated with centralized data storage.

Dual-Layer Incentive Model – Low-Barrier Router Mining for Rapid Node Growth

Roam's dual-layer incentive system attracts users through:

Allowing users to connect their home routers to the Roam network and earn points by sharing WiFi.
Offering official mining-grade routers: MAX30 ($199) and MAX60 ($499). Owners of these routers enjoy higher mining rewards and receive exclusive NFT airdrops, making Roam one of the fastest-growing projects in the DePIN sector.

eSIM International Roaming – Expanding Web3 Decentralized Telecom Services

Beyond WiFi sharing, Roam has introduced an eSIM international data service, covering 160+ countries and regions. Users can switch between global networks at lower costs without needing a physical SIM card. Compared to traditional telecom providers’ high international roaming fees, Roam offers affordable, on-demand data plans at $1.19–$1.99 per GB, providing Web3 users with a cost-effective and flexible mobile internet solution. This also strengthens Roam’s commercial revenue model.

III. Market Valuation Projection

As a key infrastructure provider for decentralized wireless networks (DePIN), $ROAM operates within the decentralized telecom, network sharing, and AI data economy sectors. To estimate its potential market valuation, we compare it with:

Helium ($HNT) – A decentralized wireless hotspot network
Filecoin ($FIL) – A decentralized storage network
io.net ($IO) – A decentralized computing network

These projects provide essential Web3 infrastructure and serve as valuable market benchmarks for assessing $ROAM’s future valuation.

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IV. Tokenomics

$ROAM Total Supply: 1,000,000,000 (1 Billion)

Token Allocation & Release:

Mining Incentives (60%) – Earned through WiFi sharing, mining operations, CDN nodes, and more.
Early Investors & Airdrops (28%) – Distributed to early investors, TGE participants, and community airdrop campaigns.
Team Allocation (12%) – Reserved for the core team, vested gradually over 6 years to ensure long-term stability.

Token Utility:

Mining Rewards
1. Users can earn $ROAM tokens by contributing WiFi, running mining nodes, and providing storage services.
2. Mining nodes generate long-term passive income within Roam’s ecosystem.
Points Conversion
1. Roam operates a dual-layer economic system: Roam Points + $ROAM Tokens.
2. Users can burn points to exchange for $ROAM, with market-driven conversion rates ensuring token stability.
Transaction Fees
1. eSIM data purchases, CDN usage, NFT transactions, and other services require $ROAM payments.
2. A portion of on-chain transactions is burned, introducing a deflationary mechanism.
Staking Mechanism
1. Mining node operators can stake $ROAM to increase mining rewards, with staking amounts influencing mining power.
2. Staking also unlocks discounted data rates, priority network access, and ad revenue sharing.
Governance
1. $ROAM functions as a governance token, allowing holders to vote on ecosystem policies, economic adjustments, and token burn mechanisms.
2. A DAO (Decentralized Autonomous Organization) ensures the fair and sustainable development of Roam’s economy.

Burn & Deflation Mechanism

Dynamic Burning: $ROAM tokens are burned through points conversion, eSIM data purchases, and node usage fees, reducing overall supply.
Post-TGE Reverse Burn Mechanism: Tokens can be converted back into points, encouraging token utilization and mitigating sell pressure.

V. Team & Funding

Team Information:

YZ (Co-Founder) – Developed Roam’s User Flywheel, Node Flywheel, and AI Data Flywheel models. Led Roam’s transformation from MetaBlox into the largest DePIN WiFi roaming network.
Jason Zhao (CTO) – Holds an M.S. in Computer Science from Stanford University. Formerly at Google DeepMind, specializing in AI, blockchain, and decentralized networks. He leads Roam’s core tech architecture and global WiFi OpenRoaming expansion.
Roam’s core team members have extensive experience in telecom, blockchain, data analytics, and hardware development, spanning investment, ecosystem growth, and technical innovation.

Funding Rounds:

Strategic Round (March 2024) – Raised $5 million, led by Anagram and Volt Capital, with participation from Comma3 Ventures, IoTeX, Awesome People Ventures, Stratified Capital, JDI Global, ZC Capital, Future3 Campus, ECMC Group, and DePIN Labs.
Seed Round (March 2022) – Raised $2 million, led by Collab+Currency and Synergis Capital, with contributions from SNZ Holding, Crowdcreate, Future Life, and Slope.
Strategic Investment (April 2024) – Received funding from Samsung Next (undisclosed amount), supporting Roam’s global expansion in the DePIN sector.

VI. Potential Risks

User Growth Dependent on Token Incentives – If token rewards primarily attract speculative users, activity may decline over time. Additionally, if the points-to-token conversion mechanism lacks a sufficient burn ratio, inflation could impact long-term token value.
Revenue Model Still Developing – Roam’s revenue streams include mining hardware sales, eSIM services, ad monetization, and CDN services, but these have yet to achieve full profitability. Expanding eSIM services may also face regulatory challenges in different countries.

VII. Official Links

Website: https://weroam.xyz/
Twitter: https://x.com/weRoamxyz
Telegram: https://t.me/WeRoamXYZ

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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