Peaq, a blockchain platform focused on decentralized infrastructure networks (DePIN), will launch its layer-1 blockchain between Sept. 22 and Sept. 30, according to an announcement on its official X account.
Protected by, peaq is poised to boost its native token, onboarding over 1,000,000 devices across 45+ on-chain dapps with its launch.
In addition to Polkadot, Peaq integrates with several major blockchain networks including Cosmos, Binance BNB, and . The platform currently includes over 850,000 machines, vehicles, and devices, managing over $25 million in tokenized assets and supporting over 30 projects.
The platform has also launched KREST, the native token of its Kusama testnet, to simulate operations ahead of the full launch. KREST holders will be eligible for a PEAQ airdrop following its launch.
The blockchain economic model is disinflationary, with an initial inflation rate set at 3.5%, which will decrease annually until it stabilizes at 1%.
Founded by entrepreneurs Till, Leo, and Max, Peaq plans to integrate blockchain technology with the Internet of Things (IoT). After collaborating with companies such as Audi, NTT, and Gucci, the founders developed Peaq as a Layer 1 blockchain dedicated to supporting unique decentralized applications.
In 2021, Peaq was created to support DePIN applications. Earlier this year, it raised $15 million from investors including Animoca Brands and Borderless Capital, and an additional $20 million with the launch of CoinList in May.
Peaq employs 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, who create blocks and maintain the state of the network, while delegators stake tokens to ensure the trustworthiness of the collators.
The platform also features unique modular features designed for DePIN applications, including autonomous machine identities, machine access control, payment features and data verification.
Earlier this year, Peaq published a detailed roadmap as it prepares for the launch of its mainnet. The pre-launch version of the network is already live, but several technical improvements are planned, including integration with the MetaMask multisig wallet and the launch of the Peaq Ledger app for token storage.
Key updates also include the launch of a decentralized exchange (DEX), a staking dashboard for peaq nodes, an improved UI for campaigns, and integrations with Galxe, Particle Network, and Fireblocks for secure custody.
Additionally, a layer-1 bridge will be integrated to support cross-chain transactions, while stablecoins will be enabled on the platform. Partnerships with exchanges are established to facilitate the trading of peaq tokens and native DePIN.
