December 17, 2024

CPIN joins the peaqosystem

peaq

Community

In a nutshell: CPIN, a green energy DePIN, has joined the peaqosystem. It will leverage peaq for identity management, data verification, and natively launch its token on peaq. You will be able to connect your solar panels and electronics to CPIN’s decentralized Virtual Power Plant and earn rewards for providing data and green energy to the wider grid.

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Bringing the Sun on-chain

By now, there is no denying the danger of climate change — just look at the recent deadly floods in Valencia, caused by extreme torrential rains. As the world gears up (slowly and not always steadily, but still!) to tackle the challenge, adopting renewable energy is a crucial piece of the puzzle. For all of its promise, though, the problem is that our traditional power grids are too centralized, while renewable energy benefits from a more distributed approach. We need an entire new tech stack to make this transition work.

And as always, Web3 delivers.

Meet CPIN — a DePIN that will enable people to generate valuable energy data from renewable energy sources, energy storage units, and smart devices. By setting up renewable energy sources, such as solar panels, and connecting various other electronics to the DePIN, the community will be contributing to CPIN’s Virtual Power Plant. As part of it, these devices will be generating energy use data, which can be used for a variety of purposes, including carbon credits and more. For sharing this data, their owners earn rewards in CPIN’s native token, which is also used to pay for accessing the data or energy services. With further development, the DePIN will be able to provide green power to local Web2 power grids and provide energy for such ventures as green computing.

As part of its integration with peaq, CPIN will deploy the smart contracts powering its green energy ecosystem on peaq and enable people to mint their solar panels as NFTs on the home of DePIN. It will set up the data crowdsourcing mechanism, leveraging peaq ID and peaq verify for identity and verification management. It will enable people to buy fractionalized solar panels as NFTs with their $PEAQ tokens and stake them for rewards through its app. CPIN will also launch its $CWATT and $CDATA tokens natively on peaq, and make these tokens convertible into $PEAQ on its application.

At the current stage, CPIN already has 7 solar panel arrays connected to the network. Varying in their scale, these facilities are already producing green energy in Serbia, Canada, Brazil, Macedonia, and Turkey. By launch, CPIN aims to bring some 20 solar power facilities online, all writing their data on peaq, with a total of 1,000 solar panels delivering a combined peak output of more than 500 kilowatt. These panels will be fractionalized into 22,000 NFTs on peaq for the community to get their hands on.

“The DePIN model and green energy are a perfect match, as DePIN adds the incentive that communities need to build local sustainable microgrids. CPIN is built to empower this transformation, and peaq is the perfect home for our project due to its unique decentralized infrastructure tailored for machine-to-machine (M2M) interactions and the Machine Economy.”

— Harun Sarikurt, CEO at CPIN.

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