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Building in Public: What It's Actually Like Running a DePIN Startup

Justin W. CaswellApril 4, 20269 min read

I left a comfortable corporate position at DISH Network in 2021 to build RevoFi full-time. Five years later, I want to share what building a DePIN company actually looks like — not the Twitter thread version, but the real thing.

The honest version includes filing patent applications from a home office while debugging device firmware, shipping hardware that you designed to customers who will test it in environments you can't predict, and discovering that "decentralized" doesn't mean "no operations" — it means distributed operations, which is harder.

The Pivot That Changed Everything

RevoFi started as a Wi-Fi connectivity platform. Deploy hardware, share bandwidth, earn tokens. Simple DePIN model. But talking to actual enterprise customers revealed something: they didn't need more Wi-Fi. They needed edge compute. They needed AI inference close to their operations. They needed private networking that didn't route through AWS.

So we pivoted. From connectivity-only to Workload-as-a-Service. From Wi-Fi revenue sharing to a full compute marketplace. From a single-token model to a dual-token economy (RVS for incentives, RDC for billing). The pivot meant rebuilding most of the platform, but it aligned us with the actual market demand.

That's the thing about building in public — you have to be honest when your original thesis needs updating. The market doesn't care about your roadmap.

Patents as a Moat

Filing patents while bootstrapping is an exercise in resource allocation. Patent attorneys aren't cheap. The process takes years. But four granted US patents later, I can say this: in DePIN, where the technology is genuinely novel, patents are one of the few durable competitive advantages.

Our patents cover decentralized cloud network architecture, device-authenticated private network service delivery, tiered service orchestration, and distributed edge workload verification. These aren't defensive filings — they describe the actual systems we've built and deployed.

The Hardware Reality

158+ edge devices deployed. That number represents hundreds of hours of firmware development, supply chain negotiations, shipping logistics, and customer support. Every device is a real computer in a real location running real workloads.

Hardware is the part of DePIN that separates genuine projects from vaporware. Anyone can write a whitepaper about decentralized compute. Shipping hardware, keeping it online, and making it useful — that's the hard part. That's also the moat.

Persistence Prevails

My entire career — from Army Cavalry Scout to GIS to industrial automation to 5G research to DePIN — has been driven by infrastructure. Building systems that are more efficient, more autonomous, more equitable. RevoFi is the culmination of that trajectory.

The DePIN space will consolidate. Projects without real hardware, real revenue, and real technology will fade. What remains will be the companies that did the grind: built the devices, filed the patents, deployed the network, and kept shipping. That's what we're doing. Every day.

Justin W. Caswell

Founder & CEO at RevoFi. Army veteran, 4x patent holder, 20+ years in infrastructure.

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