DePIN protocol peaq gears up for mainnet launch as token offering ‘closing in by the day’

by protoketoacvdiet

DePIN protocol peaq gears up for mainnet launch as token offering ‘closing in by the day’ DePIN protocol peaq gears up for mainnet launch as token offering ‘closing in by the day’ Liam ‘Akiba’ Wright · 6 days ago · 2 min read

peaq Co-Founder token offering plans after closing successful $15M funding round.

2 min read

Updated: Mar. 28, 2024 at 11:30 am UTC

DePIN protocol peaq gears up for mainnet launch as token offering ‘closing in by the day’

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Leonard Dorlochter, the co-founder of peaq, revealed that the layer-1 blockchain focused on decentralized physical infrastructure networks (DePINs) and Machine RWAs is gearing up for its mainnet launch and token offering in an exclusive statement to CryptoSlate.

“The mainnet launch will be a historic milestone for the project, the culmination of years’ worth of research and development, of collaborations with industry giants like Bosch.

Equally exciting is the fact that soon, we will begin to open peaq to the community through the upcoming token offering[…] these exciting events will take place over the next few weeks, they are closing in by the day.”

The announcement comes on the heels of peaq’s successful $15 million pre-launch funding round, led by Generative Ventures and Borderless Capital, with participation from a host of prominent Web3 investors. The substantial investment in peaq highlights the growing interest in the DePIN space, which Messari estimates could reach a market potential of $3.5 trillion by 2028.

While details about the token offering remain under wraps due to ongoing processes, Dorlochter confirmed that these events are set to unfold over the next few weeks. He also shared plans for a major campaign to support DePINs building on peaq, stating, “We are planning a major campaign to support the DePINs building on peaq and foster their adoption through a wide variety of gamified challenges with rewards to earn.”

peaq’s layer-1 blockchain is specifically designed to cater to the unique requirements of DePINs, offering crucial backend functions, a machine-centric economic model, and a supportive ecosystem. These features differentiate peaq from other networks, with the aim of positioning it as a leading player in the DePIN space.

The funding round follows a year of significant growth for peaq, which saw the onboarding of over 20 DePINs spanning various use cases, such as Silencio, ELOOP, and Wingbits. In 2023, peaq showcased its real-world applications through collaborations with industry leaders like Bosch and Fetch.ai, demonstrating the potential for DePINs to bridge the gap between Web3 and the physical world.

As the DePIN sector continues to gain traction, peaq’s upcoming mainnet launch and token offering hope to play a crucial role in driving the adoption and growth of decentralized physical infrastructure networks. The project’s focus on providing a robust, scalable, and interoperable platform for DePINs, coupled with its growing ecosystem and industry partnerships, positions it in the middle of a key narrative for this cycle.

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