Peaq Blockchain Launch

Peaq, a blockchain platform focused on decentralized infrastructure networks (DePIN), is launching its layer-1 blockchain between September 22 and September 30, as announced on its official X account.

Secured by Polkadot, Peaq aims to facilitate its native token, managing over 1,000,000 devices across 45+ decentralized applications (dapps) upon its launch.

In addition to Polkadot, Peaq integrates with major blockchain networks including Ethereum, Cosmos, Binance BNB, and Solana. Currently, the platform manages over 850,000 machines, vehicles, and devices, overseeing more than $25 million in tokenized assets and supporting 30+ projects.

Peaq has launched KREST, the native token of its test network on Kusama, to simulate operations prior to full deployment. KREST holders will receive a PEAQ airdrop upon launch.

The blockchain’s economic model is disinflationary, starting with an initial inflation rate of 3.5%, decreasing annually until stabilizing at 1%.

Founded by entrepreneurs Till, Leo, and Max, Peaq integrates blockchain technology with the Internet of Things (IoT). After collaborations with companies like Audi, NTT, and Gucci, the platform was dedicated to supporting unique decentralized applications.

Established in 2021 for DePIN applications, Peaq raised $15 million from investors such as Animoca Brands and Borderless Capital, along with an additional $20 million from a CoinList launch in May.

Peaq employs a dual consensus mechanism: Delegated Proof of Stake (DPoS) for block production and Nominated Proof of Stake (NPoS) for verification. Collators create blocks and maintain the network’s state, while delegators stake tokens to ensure collator reliability.

The platform features modular functions for DePIN applications, including self-sovereign machine identities, access control, payment features, and data verification.

Earlier this year, Peaq released a roadmap in preparation for its mainnet launch, with a pre-launch version live and several technical enhancements planned, such as integration with the multi-signature wallet MetaMask and the Ledger Peaq app for token storage.

Key updates include the launch of a decentralized exchange (DEX), a staking dashboard for Peaq nodes, improved user interface for campaigns, and integrations with Galxe, Particle Network, and Fireblocks for secure custody.

Additionally, a Tier-1 bridge will enable cross-chain transactions, and stablecoins will be supported on the platform with partnerships with exchanges to facilitate Peaq token and native DePIN trading.