Fixed-emission DePIN models create an awkward paradox: they look sustainably generous on paper, but they're quietly destructive in practice.

Here's the mechanics: when infrastructure sits underutilized, the rewards system still pumps out tokens mechanically. Suppliers who should be earning through genuine service provision gradually shift into token speculation mode instead. The economics get backwards—infrastructure operators turn into traders, betting on token appreciation rather than focusing on building real network utility.

Eventually the system hits a wall. Once market sentiment shifts or token velocity changes, the whole model collapses because it was never backed by sustainable economics in the first place.