Secured by Polkadot, Peaq is set to launch its layer-1 blockchain later this month

Peaq, a blockchain platform focused on decentralized infrastructure networks (DePIN), plans to launch its layer-1 blockchain between September 22 and 30, as announced on its official X account. Backed by Polkadot, Peaq aims to power its native token, bringing over 1,000,000 devices across 45+ dapps on-chain with this launch.

Peaq connects with prominent blockchain networks such as Ethereum, Cosmos, Binance BNB, and Solana, in addition to Polkadot. The platform currently manages a network of over 850,000 machines, vehicles, and devices, overseeing more than $25 million in tokenized assets while supporting over 30 projects.

Peaq introduced KREST, the native token of its test network on Kusama, to simulate operations before the full rollout. KREST holders can qualify for a PEAQ airdrop once the mainnet launches. The blockchain’s economic model follows a disinflationary pattern, beginning with a 3.5% inflation rate that decreases annually until it stabilizes at 1%.

Peaq Utilization

Entrepreneurs Till, Leo, and Max founded Peaq with the goal of integrating blockchain technology with the Internet of Things (IoT). After working with companies like Audi, NTT, and Gucci, they developed Peaq as a dedicated layer-1 blockchain to support unique decentralized applications. Peaq was established in 2021 to enable DePIN applications. Earlier this year, the company raised $15 million from investors including Animoca Brands and Borderless Capital, followed by an additional $20 million through a CoinList launch in May.

Peaq utilizes a dual consensus mechanism that includes Delegated Proof of Stake (DPoS) for block production and Nominated Proof of Stake (NPoS) for verification. Collators handle block production and maintain the network’s state, while delegators stake tokens to ensure the reliability of collators.

The platform offers specialized modular functions designed for DePIN applications, including self-sovereign machine identities, machine access control, payment features, and data verification. As Peaq prepares for its mainnet launch, it has unveiled a detailed roadmap. The pre-launch version of the network is already live, with several technical upgrades in the works, such as integration with the multi-signature wallet MetaMask and the release of the Ledger Peaq app for token storage.

Key updates include launching a decentralized exchange (DEX), a staking dashboard for Peaq nodes, an improved user interface for campaigns, and integrations with Galxe, Particle Network, and Fireblocks for secure custody. Additionally, a Tier-1 bridge will be integrated to support cross-chain transactions, and stablecoins will be enabled on the platform. Partnerships with exchanges will also facilitate Peaq token and native DePIN trading.

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