Decentralized Physical Infrastructure Networks (DePINs) use token rewards to crowdsource the build out of real-world physical infrastructure networks. DePIN has two main sub sectors: physical resource networks and digital resource networks. Physical resource networks incentivize participants to leverage hardware to offer real-world services, such as wireless, energy, geospatial, and sensors. Digital resource networks incentivize participants to utilize software to offer digital resources, such as computing, storage, AI and bandwidth.
peaq is a Layer-1 (L1) one specifically designed for DePIN projects. Unfortunately, the existing set of L1s present a number of issues that limit the growth of these underlying networks. DePINs have specific needs the current set of incumbents cannot service. The huge inflow of data and transactions is primarily required for millions or even billions of events. Where peaq differentiates is building for the age of sensors. The platform enables Multi-Chain Self-Sovereign Machine IDs. These IDs act as on-chain passports for machines. With these IDs, users can create unique self-sovereign IDs for vehicles, machines, robots, and devices to enable their secure interactions within the DePIN and from DePIN to DePIN.
Testing is also key for these large scale distributed networks. peaq maintains a test environment called Krest, which enables the peaq community to develop and test DePINs, simulating the behavior of all kinds of machines, vehicles, robots, and devices before they go live on mainnet.
Despite optimizing their chain specifically for DePIN use cases, peaq is still able to compete and exceed other major chains. peaq is fast (currently 6 seconds; can theoretically scale down to 0.25 seconds block time), scalable (100k+ TPS), and cheap (<0.0001 per transaction).
peaq has had some tremendous success already with 635,000 machines, vehicles, robots and devices connected to the network, $25 million in tokenized machine real world assets on platform and most importantly, 30 individual DePin projects already building and ready to launch. In aggregate, these projects have raised tens of millions of their own capital. Not only have they raised capital but they have rapidly growing user bases. Silencio has over 300k users capturing noise data. Mapmetrics maps 600k kilometers daily, mapping speed cameras and more. Teneo has tokenized the entire fleet of car-sharing Teslas in Austria. Natix has mapped 45m kilometers and has 120m users.
Our investment decision was twofold: a bet on DePIN and a bet on peaq.
We think DePIN is one of the most compelling verticals in crypto today because:
- It provides a clear solution to the cold start problem for resource intensive networks
- Token utility is apparent for both the demand and supply side
- It solves a range of real world problems today of Web2 and traditional systems
In our view peaq provides a clear solution for the problems facing many of the DePIN projects today who are looking to use existing solutions for their ongoing support. The growth of their network in terms of users, projects and funding has solidified rare product-market fit in crypto. “peaq is going to help massively accelerate what we see as the biggest real world use case of crypto today,” Said Tom Dunleavy, Partner at MV Capital.
peaq recently raised $20m at a $333m valuation on Coinlist, and are targetting mid-Septermber for thier token launch.. With their upcoming launch, we are excited to continue to support peaq and its underlying projects on their journey forward.
peaq’s DePIN Grant Program
The peaq DePIN Grant Program is designed to provide early-stage funding and support to innovative DePIN builders. The program focuses on funding a variety of applications including DePINs, DePIN/Machine DeFi dApps, Layer-2s, and tools that enhance DePINs on the peaq network. Backed by top Web3 investors such as Cyber Capital, Fundamental Labs, and Hashkey Capital, the grant program offers financial resources for research and development within the peaq ecosystem. Selected projects receive funding, support, and ongoing collaboration with the peaq Foundation and its partners. The program aims to foster innovation and growth in the decentralized infrastructure space, ultimately empowering builders to create impactful solutions on the peaq network.
For more details and to apply, visit peaq’s Grant Program.
About MV Global
Established in 2019, MV Global has emerged as a force in the Web3 landscape focused on early-stage investments and venture building. Our mission is clear: to partner with mavericks, visionaries and free thinkers to leverage blockchain-enabled technologies to build for the future.
