Polygon Labs is transferring electrical bikes on-chain in Dubai—and India is likely to be subsequent.
The Ethereum Layer-2 scaling resolution has teamed up with sustainable infrastructure startup Pyse to tokenize a fleet of electrical supply autos in Dubai, utilizing Polygon’s blockchain to anchor asset possession and real-time information assortment.
A brand new period of RWAs is right here, and it begins with EV bikes. Here is why it issues 🧵
<1/12> pic.twitter.com/dJ5MVVReGE— Pyse (@PyseEarth) April 23, 2025
Polygon’s newest foray into tokenized infrastructure seeks to mix secure, revenue-generating electrical autos with dynamic information monetization, whereas laying the groundwork for a significant growth into India’s rising electrical car (EV) sector.
“One of many greatest focus[es] for Polygon is real-world property,” Aishwary Gupta, Polygon’s World Head of Funds and Liquidity, advised Decrypt. “And we wish to make sure that something which may be tokenized makes its approach to Polygon.”
Placing environmental information on-chain
Every bike is provided with Pyse’s proprietary DePIN Mining Machine (DMM), turning the car right into a>The system collects city metrics like air high quality, street put on, and noise air pollution, and feeds that info on-chain. Rewards are distributed by way of token incentives verified by companion protocols.
“It is a mixture of two worlds,” Harshit Garg, Pyse’s co-founder, advised Decrypt. He described the initiative as “actual yield via inexperienced property and the speculative upside from decentralized information.”
Garg famous that Pyse is addressing financing gaps in inexperienced mobility and in addition laying the inspiration for “infrastructure for a decentralized,>This mixture of RWA-backed yield and DePIN (Decentralized Bodily Infrastructure Community) token incentives permits contributors to earn from each the asset and its information output.
First Dubai, subsequent India
In line with the businesses, Dubai’s rollout is just the start, and India’s electrical mobility sector, rising at 18% yearly, is the subsequent goal.
“India’s B2B EV and last-mile logistics market is fragmented and underfunded,” Garg mentioned, including that blockchain-backed fashions may assist operators entry “funding sources past conventional establishments.”
Pyse’s tokenization framework permits for fractional co-ownership of EV property, with revenue-sharing primarily based on utilization and contract phrases.
The deployed autos already function below mounted rental agreements within the UAE, anchoring the RWAs with secure returns. On the identical time, the DMM provides a speculative layer, minting tokens that may be earned by gathering high-value, verified information.
Whereas India’s crypto regulation stays ambiguous in the meanwhile, Gupta has mentioned that Polygon’s function is infrastructural on this challenge.
“Polygon is only a blockchain platform the place the tokenizing is going on,” he mentioned. “Pyse could be working to make sure compliance.”
Gupta mentioned the corporate’s infrastructure is evolving to satisfy the wants of asset courses like tokenized EVs.
“There are a few RWA-based L2s utilizing Polygon CDK,” he mentioned. “Lumia and Libre, for instance, are RWA-focused CDKs,” referring to customized Layer-2 chains constructed with Polygon’s Chain Growth Equipment.
India “ripe” for DePIN
Pyse plans to start its India growth with last-mile logistics fleets earlier than transferring into ride-hailing and mid-mile supply.
“The Indian market is ripe for the DePIN section,” Garg defined. “Given its rising scale in India, the primary part begins with last-mile supply. The identical mannequin may be prolonged to ride-hailing and first-and-mid-mile supply segments instantly after.”
Information collected by the DMMs in Dubai is already being offered to insurance coverage firms, OEMs, and logistics suppliers in trade for his or her native tokens.
“Worth distribution adjustments primarily based on the standard of knowledge, utilization of the autos, and so forth., and therefore is totally different for every case, Garg mentioned. “Nonetheless, we be sure that every associated celebration advantages from the DMM layer.”
Gupta defined that this live-use mannequin solves a longstanding drawback with RWA implementations. Most tokenized property up to now, like actual property or bonds, are static. Pyse’s mannequin, he mentioned, introduces real-time information assortment and yield—a “subsequent part” for RWAs.
To discourage spam or manipulation, Pyse’s DePIN modules “reward recent, high-value inputs,” mentioned Garg. “It’s not about quantity—it’s about worth.”
To make sure integrity, Pyse says its modules are co-developed with car producers and “natively file all information on-chain earlier than any processing.” For DMM modules, “companion protocols independently confirm information authenticity earlier than distributing rewards to our nodes.”
In the long run, Pyse desires to construct a decentralized “information DAO” to permit stakeholders to control, monetize, and commerce collected information. Garg mentioned demand is already evident throughout logistics and OEM companions, and that Indian city information has worth “not simply domestically however throughout Southeast Asia.”
Gupta sees initiatives like Pyse’s as a possible gateway for broader blockchain adoption in India, significantly in sectors far past finance.
“Pyse’s profitable EV tokenization within the UAE is a robust proof of blockchain’s real-world potential,” he mentioned. “As soon as regulatory frameworks mature in India, this mannequin can turn into a worthwhile addition to the nation’s rising Web3 ecosystem.”
