peaq Mainnet Officially Launched, with Its Native PEAQ Token Listed on Multiple Exchanges

Source: peaq

peaq's native utility token $PEAQ has officially been listed on top global exchanges, poised to support an ecosystem with over 50 DePIN projects and 2 million devices, including tokenized robots, weather stations, smartphones, and more.

November 12, 2024—peaq, as a Layer-1 blockchain supporting the machine economy, announces the listing of its native utility token $PEAQ on 12 major global cryptocurrency exchanges, including crypto.com, BitGet, and KuCoin. This listing enables anyone to participate in a global infrastructure revolution, where individuals engage in providing services directly to others through connected hardware and earning rewards, a behavior known in the industry as DePIN. At its launch, peaq has become home to 50 DePIN projects spanning 21 industries, making it the fastest-growing DePIN ecosystem in the Web3 space. These DePIN projects connect over 2,000,000 devices across 20+ industries such as mobility, energy, connectivity, weather, decentralized AI, and more. peaq already covers 95% of countries globally at its Layer-1 blockchain launch, setting it apart.

This listing follows peaq's successful token sale in May, the largest CoinList launch in over two years, which attracted a $20 million investment from over 14,000 wallets, with final oversubscriptions reaching $36 million. Prior to the listing, peaq also completed a CertiK audit, achieving the highest foundational score (97.96/100) in the pre-launch project category.

DePIN has received widespread attention for its focus on real-world impact, becoming one of the key tracks in Web3. However, disrupting industries dominated by Web2 giants is no easy feat and requires special support from Layer-1 blockchains rather than generic solutions. To fully realize its potential, the DePIN space needs a chain built specifically for founders to construct, deploy, and scale as efficiently as possible. This entails not just piecing together various parts but also serving as a decentralized infrastructure driving a seamless, borderless machine economy. peaq is precisely such an entity.

The Core of the Machine Economy — PEAQ Token

peaq's native utility token is now listed on 12 of the world's top exchanges. As of today, the token is tradable on the following platforms:

BingX, a leading cryptocurrency exchange serving over 10 million users globally;

Bit2Me, a leading cryptocurrency exchange with over 1 million users;

BitGet, a leading cryptocurrency exchange and Web3 company with 45 million registered users;

Bitvavo, a digital asset exchange platform with industry-leading compliance protocols and over 1.5 million active users;

CoinList, a platform connecting the best builders in crypto with high-quality early users;

CoinW, a secure and reliable trading platform with over 7 million users across 120+ countries;

crypto.com, one of the top global cryptocurrency trading platforms with over 100 million users;

gate.io, one of the world's earliest cryptocurrency exchanges with over 18 million users worldwide;

Hashkey, the flagship digital asset trading platform of HashKey Group, providing licensed digital asset trading services to global users;

KuCoin, one of the world's leading cryptocurrency exchanges with 36+ million users across 200+ countries;

LBank, one of the world's leading cryptocurrency exchanges with over 9 million users, soon to be listing PEAQ;

MEXC, a high-performance trading platform leveraging advanced trading matching technology, with over 10 million users across 170+ countries.

Core Functions

The PEAQ token is the core of the peaq ecosystem and the broader machine economy, serving multiple key functions:

Transaction Fees: The PEAQ token is used to pay for all transaction fees on peaq.

Staking: The PEAQ token allows users to set up a validator node or support their preferred validator and earn rewards by contributing to the network's security and operation.

Governance: Future updates will enable PEAQ token holders to vote through on-chain governance, collectively deciding on the future of PEAQ.

The initial token supply of PEAQ is 4.2 billion tokens. Its inflation rate is initially set at 3.5% and will decrease by 10% annually, eventually stabilizing at 1%. The supply plan is designed to accommodate the long-term growth and expansion of the DePIN ecosystem. For more details on PEAQ Tokenomics, please refer to PEAQ's documentation.

Enterprise Support

PEAQ launched with 32 Genesis node pools responsible for maintaining the network's day-to-day operations. Node operators include DePIN projects on PEAQ, leading crypto investment firms, and top global enterprises and protocols, including:

Bertelsmann Investments, a globally leading venture capital firm supporting entrepreneurs worldwide, with investments exceeding €19 billion.

Deutsche Telekom MMS, the IT division of Deutsche Telekom, one of Europe's largest telecommunications companies, with a market cap of $147.98 billion.

Lufthansa Innovation Hub, the innovation-driven center of Lufthansa Group, with a market cap of $8.52 billion.

Technical University of Munich, a leading natural sciences and engineering university in Germany.

Kiln, a leading digital asset reward management platform overseeing over $8.6 billion in equity assets.

Twinstake, a leading institutional-grade staking platform serving enterprises and large asset managers.

peaq has also partnered with several businesses, earlier this year being selected for the prestigious Mastercard Start Path program and engaging in early collaboration with Bosch.

DePIN Project

In the weeks following the token listing, the community can expect significant updates to key products and interfaces. Over the next few months, peaq will complete more stablecoin integrations, bridging, fiat onramps, and decentralized exchange development, and launch the first batch of DePINs on the network. It is worth noting that these DePINs will issue their own tokens on the peaq chain.

Here are the DePIN projects expected to launch on peaq:

Silencio — rewarding users who use their smartphones to collect local noise pollution data, helping the community monitor and reduce noise pollution while earning rewards;

MapMetrics — a DePIN where drivers earn tokens, allowing users to monetize navigation data and providing a Web3 alternative for services like Google Maps. Through this platform, drivers can not only share their location information and driving data but also profit from this data;

DATS — providing network security services supporting Web3 by community-provided bandwidth and computing power, protecting users from threats of hacks and data breaches. The decentralized model of DATS leverages the security and transparency of blockchain to offer a more efficient network security solution;

Roam Network — collecting telecom signal quality data via a smartphone app to help telecom companies improve their network coverage and service quality. Participants in this project can earn rewards by providing their location signal data, while helping enhance the overall efficiency of telecom infrastructure;

Teneo Protocol——a Web3 protocol that enables real-time collection of social media data, allowing users to share and analyze social media data in a decentralized manner, providing a more transparent and open data access path for researchers, developers, and data scientists. It recently launched a Community Node, with over 400,000 nodes online.

The upcoming DePIN project, in conjunction with the powerful infrastructure of the peaq platform, will bring more possibilities for the development of a decentralized Physical Infrastructure Network (DePIN). The launch of these projects not only showcases peaq as a leading platform supporting DePIN initiatives but also provides users with extensive engagement opportunities, allowing them to directly benefit from the decentralized economy. Additionally, peaq will introduce a first-of-its-kind token-incentivized activity to drive DePIN adoption and create real-world value.

Vision and Mission

As the home of DePIN, peaq provides the following support for projects focusing on real-world applications:

Foundational Capabilities: peaq boasts a Nakamoto Coefficient of 130 and a processing capacity of 10,000 transactions per second (TPS), a number that will increase tenfold in future updates;

Modular DePIN Features: peaq offers features such as self-sovereign machine identity, peer-to-peer payments, role-based access control, machine data verification, machine data storage, and DePIN rewards;

Interoperability: Through the LayerZero protocol, peaq has connected with over 90 blockchains, achieving liquidity and free flow of data, enhancing collaboration between different chains;

Real-world Ecosystem: Through extensive collaboration with numerous enterprises, peaq supports DePIN projects in meeting market demands and provides funding, capital support, and other assistance to DePIN builders to ensure smooth project launches and rapid scaling;

Community: peaq's community brings together over 310,000 DePIN enthusiasts and early participants who collectively drive the platform's development and provide strong support for the platform's long-term success;

Vision: peaq is focused on advancing Web3 in the real-world economy and aims to be a core driver of this revolution. Through decentralized technology and innovative machine economy, peaq is leading Web3 towards a more sustainable model;

peaq Co-Founder Till Wendler stated, "The birth of peaq marks the beginning of a new era, where Web3 finally enters the real world. The DePIN revolution will change the way we operate our most critical infrastructures, placing the community firmly in control, with peaq at the forefront of this revolution, becoming the fastest-growing DePIN ecosystem in Web3. peaq has made early progress and looks forward to translating these achievements into further growth and prosperity as we drive Web3 towards a sustainable development model based on real value and demand."

About peaq

peaq is leading a global infrastructure revolution, empowering people to own and earn from mobility, energy, connectivity, environment, agriculture, and digital infrastructure. peaq is a Layer-1 blockchain designed to be the core infrastructure for DePIN (Real-World Applications). It is home to over 50 applications spanning 21 industries and hosts over 1,750,000 devices, vehicles, machines, and robots (Machine Real-World Assets). As a permissionless, borderless digital infrastructure, peaq serves an increasingly intelligent machine population, aiming to democratize abundance for all humanity, not just a few, in the age of AI and work automation.

For more information, please visit peaq, follow peaq on Twitter for updates, and join the Discord discussions.

This article is contributed content and does not represent the views of BlockBeats.