What is peaq (PEAQ)?
peaq (PEAQ) is a specialized blockchain platform that enables the creation of decentralized physical infrastructure networks (also known as DePINs). In short, peaq is helping to create systems where machines can work together, share data, and even make money. For example, from self-driving cars that communicate with each other in cities to make traffic flow smoother, to smart devices such as drones and robots that perform complex tasks and report data to operators.
Peaq's platform also allows machines to operate autonomously and connect directly to each other without centralized authority. Unlike traditional blockchain networks, Peaq is designed for physical devices. For example, imagine a community-owned autonomous taxi network where people are rewarded for helping the network grow and operate. Peaq supports these types of decentralized networks at scale and helps machines run on the blockchain, not only in land-based devices, but even across the ocean, sky, and space.
Who founded peaq (PEAQ)?
Peaq was founded by two innovative talents: Max Thake and Leonard Dorlöchter. Thake is a serial entrepreneur passionate about the machine economy and a co-founder of the venture capital firm Sigma². He has established a good reputation in the tech industry, and his innovative ideas and work have attracted thousands of followers. His co-founder Dorlöchter has deep roots in the blockchain world and has been dedicated to exploring how to apply blockchain to real-world infrastructures.
Which venture capital firms support peaq (PEAQ)?
Supporting ambitious projects like peaq requires not only a strong team but also substantial financial backing from investors who see its potential. In March 2024, peaq announced a large-scale multi-round funding led by Generative Ventures and Borderless Capital. Many other well-known venture capital firms joined this funding round, including CMCC Global, Spartan Group, HV Capital, Animoca Brands, Moonrock Capital, Fundamental Labs, TRGC, DWF Labs, Crit Ventures, Cogitent Ventures, NGC Ventures, Agnostic Fund, Altana Wealth, LBank Labs, Protein Capital, Token Metrics, and others.
How does peaq (PEAQ) work?
Peaq's blockchain platform provides developers with the tools to build DePIN, decentralized applications (dApps) and protocols designed for various machines and devices. It also offers a system for Machine DeFi, a new type of decentralized finance created specifically for machines. Machine DeFi allows machines to independently trade, earn, and manage assets. Here’s how the two main components of peaq—DePIN and Machine DeFi—work.
1. Decentralized Physical Infrastructure Network (DePIN)
DePIN connects machines in a secure and efficient way using blockchain technology. Through peaq, developers can build applications for machines in land, sea, sky, and space domains. The goal of DePIN is to use tokens (a type of digital currency on the blockchain) to incentivize people to deploy hardware (such as sensors, robots, or vehicles) that aids in creating physical networks.
Peaq offers a wide range of use cases across multiple industries. Here are some examples:
● 5G Network: Community members can contribute to building a high-speed 5G network by deploying physical infrastructure.
● AI Data Marketplace: Users can sell their data to companies engaged in artificial intelligence and large language models.
● Autonomous Taxi Services: People can help establish a community-owned fleet of autonomous taxis that operate without a central authority.
● Air Quality Monitoring: Sensors sourced from the community monitor pollution and air quality in real-time.
● Electric Bike and Scooter Sharing: Bikes and scooters can be shared within the community without relying on any single company.
These applications enable communities to own and manage their resources, with the blockchain ensuring that every participant is fairly compensated. Peaq is creating an environment for crowdsourcing physical networks, allowing individuals or businesses to benefit from participation.
2. Machine DeFi
While DePIN connects machines, Machine DeFi allows machines to manage their own finances. Imagine machines earning tokens through work and then using those tokens to pay for maintenance, upgrades, or even renting equipment from other machines. This financial freedom for machines can greatly enhance their ability to operate autonomously and reduce the need for human intervention.
Here are some of the main use cases for Machine DeFi:
● Decentralized Energy Market: Machines like solar panels and electric vehicle chargers can connect directly with buyers, allowing them to sell energy and contribute to a greener grid.
● Machine Crowdfunding: Machines or projects can be funded by the community, enabling investments in future machine projects.
● Decentralized Insurance: Machines can be insured by community-managed platforms, ensuring risks are fairly shared and managed.
● Machine Liquidity Mining: Machines can contribute their resources to liquidity pools for other decentralized services, earning tokens in return.
● Machine Lending: Machines can lend their computing power or storage space to other machines, which will pay them in tokens.
This decentralized financing model allows machines to operate independently without relying on banks, brokers, or other traditional financial institutions.
PEAQ launches on Bitget
For investors interested in blockchain infrastructure and machine economy projects, there are several compelling reasons to purchase PEAQ tokens on Bitget.
First, PEAQ provides basic utility on the peaq blockchain, enabling users to pay transaction fees and participate in governance decisions directly on the platform. As Peaq supports billions of transactions for its machines, vehicles, and devices on DePIN, the demand for transaction fees is expected to grow.
In addition, PEAQ holders can participate in staking to support network security and earn rewards by supporting validators responsible for block production. This staking model creates an incentive system for honest network operators while allowing delegators to manage their choices and influence active validators.
Additionally, as a native Layer 1 token, PEAQ is designed to follow a deflationary model, with the inflation rate gradually decreasing and stabilizing at 1%, providing long-term incentives for early adopters.
Overall, PEAQ plays a key role in the network, providing opportunities for governance, staking, and network participation to attract both technical and financial users.
