Peaq, a blockchain platform focused on decentralized infrastructure networks (DePINs), is set to launch its Layer 1 blockchain between September 22 and 30, according to an announcement on its official X account.
Secured by , peaq is ready to power its native token by deploying over 1,000,000 devices across 45+ on-chain decentralized applications following its launch.
In addition to Polkadot, peaq integrates with several major blockchain networks, including , Cosmos, Binance BNB, and . The platform currently spans over 850,000 machines, vehicles, and devices, managing over $25 million in tokenized assets, and supporting over 30 projects.
The platform also launched KREST, its testnet native token, on Kusama to simulate operations before full rollout. KREST holders will be eligible for a PEAQ airdrop once it launches.
The blockchain economic model is disinflationary in nature, with the initial inflation rate set at 3.5% and set to decrease each year until stabilizing at 1%.
Founded by entrepreneurs Till, Leo, and Max, peaq plans to integrate blockchain technology with the Internet of Things (IoT). After working with companies like Audi, NTT, and Gucci, the founders developed peaq as a dedicated Layer 1 blockchain to power unique decentralized applications.
By 2021, peaq was founded to support the DePIN app. Earlier this year, it raised $15 million from investors including Animoca Brands and Borderless Capital, as well as an additional $20 million from the launch of CoinList in May.
peaq uses a dual consensus mechanism that includes Delegated Proof of Stake (DPoS) for block production and Nominated Proof of Stake (NPoS) for verification. Block production is handled by collators, which create blocks and maintain the network state, while delegators stake tokens to ensure the reliability of the collators.
The platform also offers unique modular features tailored to DePIN applications, including autonomous machine identity, machine access control, payment functions and data verification.
Earlier this year, peaq released a detailed roadmap as it prepared to launch its mainnet. The pre-launch build is live now, but several technical improvements are planned, including integration with the MetaMask multi-signature wallet and the release of a peaq Ledger app for token storage.
Other major updates include the launch of a decentralized exchange (DEX), a Peaq node staking dashboard, an improved campaign UI, and integration with Galxe, Particle Network, and Fireblocks for secure storage.
In addition, a Tier-1 bridge will be integrated to support cross-chain transactions, and stablecoins will be enabled on the platform. Partnerships with exchanges are expected to facilitate trading of peaq token and native DePIN.
