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About XNET
XNET is a decentralized mobile network built on Solana, aiming to solve coverage and capacity gaps in traditional telecom through community-deployed Wi-Fi hotspots and cellular sites. Its core business involves individuals or enterprises deploying nodes (hotspots) that mobile operators like AT&T can lease to offload data traffic, ensuring seamless connectivity via Passpoint technology without manual login. The key competitive advantage lies in its blockchain-based transparent revenue-sharing mechanism: node operators earn XNET tokens based on contribution, while operators pay for usage, creating an incentive-aligned ecosystem. This reduces capital expenditure for carriers and provides passive income for deployers.
Market pain points include rising data demand overwhelming legacy networks, especially in urban and underserved areas, where building new infrastructure is costly. XNET addresses this by crowdsourcing physical infrastructure, lowering deployment barriers, and using existing Wi-Fi and LTE spectrum. In the past six months (2026-03 to 2026-09), XNET has continued expanding its partnership with AT&T, increasing active nodes and data offloading volume, while maintaining its token economy with a deflationary model (40% of network revenue used to buy back and burn tokens). No major negative events were reported during this period, though token price volatility remains a general risk for crypto-based projects.
In the past six months (2026-03-15 to 2026-09-15), key XNET progress: As of April 2026 data, XNET data offloading grew for eight consecutive months, with average daily offload up another 16% month-over-month, and active contributors reached an all-time high of 732. Official docs state the network has served over 31 million devices and supports AT&T roaming, potentially reaching 150+ million U.S. subscribers. On token side, XNET hit an all-time low on July 13, reflecting market pressure.
Official future focus: continue building a decentralized neutral-host network on Solana, expanding Wi-Fi and cellular coverage via Passpoint/Hotspot 2.0 and CBRS spectrum; sell data traffic to MNOs/MVNOs/MSOs on a per-GB basis and share revenue with node operators; use 40% of network revenue to buy back and burn XNET tokens to enhance deflation and value; prioritize high-density and underserved areas, incentivizing community node deployment.
Co-founders:
- Richard Devaul: Co-founder, currently Chief Evangelist, previously CEO, driving the vision of blockchain-powered mobile network.
- Alex Luebke: Co-founder, involved in early company creation.
- Donal O Brien: Co-founder, involved in early company creation.
- Tom Beirith: Co-founder, involved in early company creation.
Current core executives:
- James Childs: CEO, telecom veteran, former board member, leading the company into execution phase.
- Steve Russo: CFO, responsible for financial strategy.
- Stephen John: CCO, responsible for commercial development.