State of the Machine Economy: 2024

Key Highlights 

• 41 new DePINs joined the peaqosystem in 2024
• peaq had a record-breaking CoinList launch, raising $20mln 
• peaq backed Borderless Capital’s new $100 million DePIN fund as anchor LP
• peaq’s mainnet went live on Nov 12th, 2024 at 9AM UTC, marking the beginning of the Machine Economy
• The DePIN Enterprise Adoption Program launched, with 5 global enterprises joining
• In just over a month since peaq’s launch, more than 40,000 machines have come live onchain.

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The year of peaq

Exciting and intense — these words encapsulate the past year in the peaqosystem well, but the word that does it best is undoubtedly: rewarding. Not only did peaq finally go live on November 12th, but everything leading up to and surrounding the launch was everything we’d hoped it would be.

This year alone, 41 DePINs chose peaq as their home, the number of devices in the peaqosystem grew from 100,000 to over 4.5 million, and the Total Machine Value blew past the 1 billion dollar mark. With peaq’s mainnet now live and the first 40,000+ machines already onchain, the Machine Economy has finally arrived, and there’s no stopping it.

As peaq’s founders remarked on launch day:

‍“Not long from now, millions of people all over the world will offer goods and services peer-to-peer via platforms they co-own, fundamentally changing how we interact with technology and with each other. DePIN will become so ubiquitous that we will stop calling them DePINs—they will simply be an integral part of our daily lives, seamlessly integrated into our communities and economies. This is our vision for a positive-sum Machine Economy that works for everyone. A regenerative Machine Economy in which the more value machines generate, the more everyone earns. peaq exists to power this global infrastructure revolution.”

Now, as 2024 comes to a close, it’s the perfect moment to pause, reflect, and celebrate the builders that made this all possible.

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We have liftoff

On November 12th, 2024 at precisely 9AM UTC, peaq’s mainnet went live, and the $PEAQ token was listed on 11 exchanges with an initial listing price of $0.1, and a total initial supply of 4,200,000,000 $PEAQ. 

In the days and weeks following the launch, a few additional exchanges joined the party. At the time of writing, the $PEAQ token is available on 14 exchanges, with more coming in the new year.

Want to read all about peaq’s historic launch? Check out this launch blog.

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A peaq at the stats

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First 40k machines on peaq

On December 9th, 2024 —  less than a month from launch  — the first machines went onchain. It all began with 353 Silencio sensors. More machines were added each day. At the time of writing, there are already over 40,000 machines with their own peaq IDs onchain. And that’s just from one DePIN. Imagine what will happen when all 54 start joining in.

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More than 1 billion $PEAQ staked in less than a month

At launch, peaq portal’s brand-new staking dashboard went live. This allowed the community to start staking $PEAQ tokens in support of their chosen active nodes and earn rewards for helping secure the network. The peaqosystem did what the peaqosystem does and immediately rose to the challenge. In just over two weeks, the amount of $PEAQ staked surpassed the 1 billion mark, and is currently at 1,390,000,000.

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41 new DePINs

One of the biggest indicators of peaq’s true potential as a layer-1 purpose built to power  DePIN is the number of projects that chose to build on the network before it even launched. And this year that number grew by 41 DePINs (some of which are yet to be announced).

There are 54 real-world facing projects building or about to build on peaq just weeks after going live – a rare feat for Web3 or tech in general. Of those 54, 8 decided to expand or migrate to peaq from other Layer-1 blockchains and several DePINs are already gearing up to launch their tokens in the first months of 2025.

Among the 41 DePINs that chose peaq in 2024 are:

• Acurast
• Aizel
• Anyone
• Aydo
• aZen Protocol
• Bistroo
• BitDoctor
• CPIN
• Chirp Network
• Combinder
• DATS Project
• DeNet
• dTelecom
• Ec³
• Farmsent
• HOFA
• Hyperway
• JuiceUP
• Kaisar Network
• NetSepio
• NyxCarbon
• Octo Prestige
• PING
• Pickspot
• PowerPod
• Quakecore
• Roam Network
• SPIN.FASHION
• SkyX
• Synapx
• Touchbrick
• Wayru
• XMAQUINA
• YOM
• As well as several other DePINs yet to be announced

With this massive influx of DePINs, peaq is now shaping 22 industries, including:

• Energy
• Environment
• Agriculture
• Navigation
• Mobility
• F&B
• Telecoms / Connectivity
• Gaming
• Weather
• Cybersecurity
• Aviation
• Smart Home
• Robotics
• Delivery
• Compute
• Data Storage
• Privacy
• Health
• AI
• Cloud
• Fashion
• Consumer

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Integrations galore

2024 was also the year of integrations. There are now tons of new tools available for projects and users in the peaqosystem, from bridges and wallets to launchpads, stablecoins, and beyond. Let’s take a look:

• USDC — one of the most popular stablecoins in the world — is available on peaq, providing a major boost to Machine DeFi in the ecosystem. Learn more about what USDC brings to the peaqosystem here.
• Ledger is the world’s most popular hardware wallet. Learn more about what Ledger brings to the peaqosystem here.
• Safe is an industry leading multisig wallet and platform for storing digital assets on EVM-based chains. Learn more about what Safe brings to the peaqosystem here.
• Fireblocks is an enterprise-grade platform for managing digital asset operations and building businesses on the blockchain. Learn more about what Fireblocks brings to the peaqosystem here.
• TokenPocket is one of the world’s leading multichain wallets, trusted by over 25 million people globally. Learn more about what TokenPocket brings to the peaqosystem here.
• LayerZero connects peaq with liquidity and data from over 90 blockchains, unlocking boundless possibilities for DePINs on peaq. Learn more about what LayerZero brings to the peaqosystem here.
• Stargate, the first fully-composable native asset bridge on LayerZero, connects peaq to 23 chains, including Ethereum, Polygon, BNB Chain, and others. Learn more about what Stargate brings to the peaqosystem here.
• Particle Network’s Wallet Abstraction solution lets developers embed non-custodial wallets right into their dApp’s interface and allows users to access dApps through existing email or social accounts. Learn more about what Particle Network brings to the peaqosystem here. 
• Synternet lets builders access live data from peaq by subscribing to the network’s feed on its platform. Learn more about what Synternet brings to the peaqosystem here. 
• Bitbond’s Token Tool provides an easy way for projects to quickly and efficiently deal with a lot of the steps involved in a token launch. Learn more about what Bitbond’s Token Tool brings to the peaqosystem here.

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$20 million secured in largest CoinList launch in over 2 years

peaq’s CoinList launch back in May was beyond successful, with over 14,500 people participating and total contributions exceeding $36 million (with $20 million raised and $16 million oversubscribed). peaq’s CoinList launch was both the largest in terms of amount secured and contributed in over two years. 

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Getting ready to Get Real

Get Real is set to be the largest real world x crypto campaign in history, and possibly the biggest campaign in crypto in 2025 and beyond by reward potential. The campaign’s preseason has attracted 140,000+ participants, who have completed more than 1.9M quests. The details on reward allocations will be announced with the start of Season 1 in January. These numbers are most certainly just the beginning.  

More importantly, though, Get Real is set to become the spark that starts the DePIN flywheel spinning. That’s why the importance of this campaign can’t be overstated. It’s more than just giving out rewards. It’s about putting the Machine Economy in motion by demonstrating how DePINs can bring real value to real people in the real world. 

A year-long campaign fully focused on helping DePINs building on peaq reach escape velocity, creating real-world value in the process. Get ready to get real. 

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Meet the builders

DePIN isn’t the easiest concept to comprehend. In an effort to help people better understand how DePIN can change the world, peaq launched a series of short, high-end documentaries that delve into specific use cases. Check them out below.

Silencio: Building the global map of noise

MapMetrics: Drive-to-Earn

DATS: Your computer can fight crime

Farmsent: 63 days till our food runs out

XMAQUINA: Don’t fear the robots — earn from them

SkyX: Use this device to predict the weather, earn, and save lives

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The enterprise factor

“Captain’s Log, Stardate 43989.1. We are about to make a discovery that could profoundly impact the future of the Federation. The possibilities are endless.”

— Captain Jean-Luc Picard

If interest, traction, and collaborations are anything to go by, the above quote from arguably the greatest captain to helm the Starship Enterprise is an accurate illustration of how some of the biggest enterprises in the world feel about peaq.  

Let’s take a look at some of the key developments on the enterprise and institutional front in 2024.

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DePIN Enterprise Adoption Program launched

With peaq’s mainnet live, it’s time to get all the enterprises that have been showing interest in the DePIN model fully involved. With that in mind, peaq launched its DePIN Enterprise Adoption Program, offering enterprises a way to explore what DePIN has to offer forward-looking businesses. 

The first five enterprises have already joined the program:

• Bosch
• Bertelsmann Investments 
• Deutsche Telekom MMS 
• Lufthansa Innovation Hub
• TUM School of Management

As part of peaq’s Enterprise Adoption Program, these organizations will:

• receive monthly, relevant updates on what peaq DePINs are building
• participate in strategic sessions with teams dedicated to expanding peaq’s ecosystem 
• be introduced to relevant DePINs building on peaq and discuss potential collaborations
• have the chance to participate in strategic investment opportunities

Find out more about peaq’s Enterprise Adoption Program here.

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peaq backs $100 million DePIN Fund III by Borderless Capital

Earlier this year, peaq backed Borderless Capital’s new $100 million fund as anchor LP. The fund is laser-focused on supporting DePINs, and opens a variety of exciting opportunities for the peaqosystem, including more funding opportunities, a way to introduce more DePINs to the benefits of peaq, and more networking opportunities for DePINs already building on peaq.

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peaq selected for the award-winning Mastercard program

peaq was selected for the award winning Mastercard Start Path program, which is designed to support promising projects across a variety of fintech and Web3 verticals. As part of the program, peaq will explore opportunities to connect the DePIN sector with traditional finance (TradFi), raising the potential for simpler and faster transactions between DePINs and the Web2 space. peaq’s participation in the program also paves the way for new collaborations between the DePINs building on peaq and Mastercard’s extensive network of partners. Find out more here.

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Enterprises secure peaq as nodes

Talking about getting enterprises involved in DePIN — four of the first five businesses to join peaq’s Enterprise Adoption Program are also running peaq nodes, helping secure the peaq network and ensure its daily operations run smoothly. It also sends a strong signal about the viability and potential of both the DePIN model in general, and peaq as a dedicated layer-1 for DePIN in particular. 

Anyone can stake their $PEAQ tokens in support of a chosen node and get a share of the node rewards in return. You can check out all the active nodes and start staking here.

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DePIN Basecamp

Back in June, Outlier Ventures and peaq joined forces, with support from Borderless Capital, to launch the first DePIN Basecamp — a Web3 accelerator program for early-stage DePIN projects. Among the first cohort were several names that you might recognize, including: AYDO, Kaisar Network, Roam Network, ROVR, Touchbrick, and YOM. Of the 6 DePINs that joined the program, 5 ultimately chose peaq as their home. Stay tuned for more updates, builders.

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Which DePINs will be launching on peaq first?

It’s not a race, but it certainly is a question being asked a lot now that peaq is live. As they launch on peaq, projects are certain to bring unique innovation and immense value to the world. Let’s take a look at a few of the DePINs closest to launching their networks and see how they’re paving the way for real-world adoption.

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aZen

aZen Protocol enables you to earn rewards by connecting your smartphone to its decentralized universal computing platform.

aZen in numbers

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2024 milestones

• aZen Protocol joined the peaq ecosystem in November to equip its commercial-grade DePIN device, ZenHive, and all the devices joining aZen Protocol, with peaq’s self-sovereign Machine IDs.

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A look into 2025

• ZenHive launch and ecosystem expansion
• aZen Protocol L1 integration
• Launch of $aZen token
• Linux and Windows app

‘’aZen Protocol developed products like ZenHive, transitioning traditional cloud-based solutions to DePIN-based architectures. This demonstrates how real-world Web2 businesses can seamlessly operate on Web3 DePIN infrastructure with a competitive edge of greater efficiency and cost-effectiveness. peaq is the perfect home for a project like this, as its Modular DePIN Functions enable aZen to build and scale faster’’

– Dr Felix Xia, CEO and Founder at aZen Protocol

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Bistroo

Bistroo is a SaaS infrastructure for restaurants that rewards both customers and merchants for contributing to the BIST ecosystem.

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Bistroo in numbers

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2024 milestones

• Secured partnerships with XMAQUINA, MapMetrics, and Farmsent in order to start working on the integration of a sustainable supply chain model — from farm to table.
• Partnered with Stripe to provide instant payouts to restaurants.
• Launched the Bistroo Testnet on peaq, as the first step towards real-world integration.
• Released handheld device and mobile merchant portal apps for merchants to improve accessibility.
• Started localization in Belgium, which marks the first step towards a global rollout.

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A look into 2025

• Global launch, allowing users outside of the validator market of the Netherlands to use the Bistroo product suite.
• Eat & Earn will allow users to earn BIST tokens for ordering food through the Bistroo app.
• Global referral program set to be released.

“Traditional food delivery platforms impose high fees on restaurants while capitalizing on user data — a model that often works against both businesses and their customers. At Bistroo, we’re committed to a more sustainable approach. With peaq’s Modular DePIN Functions and DePIN-focused economic model, we’re poised to enhance our platform’s core features and accelerate growth.”

— Bas Roos, CEO of Bistroo

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DATS

DATS lets you earn rewards for contributing your idle computer resources to the fight against cybercrime.

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DATS in numbers

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2024 milestones

• DATS infrastructure was further strengthened with peaq’s Modular DePIN Functions.
• 3 security services ready to offer to clients.
• Generated $600,000 in revenue with over 30 Web2 and Web3 clients. (B2B and B2D)
• Seed investment round completed and private investment round started.

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A look into 2025

• Targeting 1,000,000+ unique IPs on the network.
• Growing to the scale necessary to simulate the world's largest DDoS attack.
• Aiming to onboard over 1,000 new clients globally, including governments and enterprises.

“We are building a decentralized ecosystem by leveraging the power of DePIN technology in cybersecurity. DATS not only detects threats but also enables communities to actively participate in this solution. We are excited to lead this transformation with peaq.”

— Serkan Bilen, Co-Founder and CEO of DATS

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DeNet

DeNet is a DePIN set on changing the way we store data by enabling you to earn rewards for sharing the idle storage capacities of your devices. 

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DeNet in numbers

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2024 milestones

• Partnered with peaq — moved into the home of DePIN.
• Had enough files uploaded to fill the Library of Alexandria.

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A look into 2025

• DeNet Storage Protocol v4 release
• DeNet token launch
• DeNet Ecosystem launch on peaq
• Enterprise solution release

"With half a million Watcher Nodes from 180 countries we've made history by building the world’s most decentralized storage network. We’re thrilled to bring this powerful technology to peaq, enabling a native storage layer that will benefit all DePINs and partners. Together, we're building a more equitable and resilient future for decentralized applications."

— Rafik Singatullin, co-founder of DeNet

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Farmsent

Farmsent is a blockchain platform revolutionizing the agricultural industry by connecting farmers directly with buyers. 

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Farmsent in numbers

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2024 milestones

• Launched B2B Marketplace for farmers and wholesalers.
• Launched the beta version of DePPs, enabling users to scan QR codes and trace product journeys.
• Launched .farms TLD to help farmers transact crypto without the complexities of wallet addresses.
• Signed partnership with China’s Belt and Road Initiative.
• Added agarwood supply in partnership with the largest agarwood producer of Asia.

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A look in 2025

• Expanding the project further and onboarding more farmers and businesses

"The traditional model, where there's little incentive for food safety data sharing and transparency, must be replaced by an agricultural DePIN. This decentralized model ensures equitable reward distribution for data contributions, fostering a more transparent and sustainable food system. peaq is the best home for a project like this due to its boundless scalability and vast community and enterprise reach." 

— Yog Shrusti, Co-Founder and CEO of Farmsent

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MapMetrics

MapMetrics is a mapping and navigation DePIN that rewards users for anonymously contributing geo-location data.

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MapMetrics in numbers

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2024 milestones

• Over 10 organizations have signed up for MapMetrics’ $100K grant program, using their Map and Search APIs to replace existing solutions like Mapbox, Google Maps, or Apple Maps.
• Limited peaq Edition Special Position Trackers (SPTs) were created to celebrate MapMetrics joining the peaqosystem.

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A look into 2025

• New live traffic website will go live in the first week of 2025, featuring advanced search capabilities and displaying all traffic updates — powered by MapMetrics APIs.
• A completely redesigned app will launch in early 2025.

“Throughout 2024, the MapMetrics DePIN has expanded its reach to 167 countries, with thousands of users from all over the world contributing daily traffic updates. This data will ower our live traffic website, going out in January 2025, with a major update slated for the app as well, adding new features and functionalities. Also coming soon is our launch on peaq — we are excited for the takeoff alongside dozens of other exciting DePINs, with peaq’s momentum being stronger than ever.” 

— Brent van der Heiden, co-founder of MapMetrics

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Roam

Roam Network transforms your smartphone into a tool for decentralizing mobile network performance data. 

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Roam in numbers

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2024 milestones

• Launched RoamApp.
• Signed first commercial data monetization deal.
• Announced the upcoming Roam eSIM — a blockchain-verified SIM offering unparalleled connectivity and pricing, anywhere in the world.

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A look into 2025

• Major redesign of the RoamApp, introducing new functionality to improve user experience.
• Launch of data analytics features to provide deeper insights to users and operators alike.
• Development of new monetization streams, unlocking even more value for users and the Roam ecosystem.

“The Roam Network is turning connectivity into an actionable, user-powered ecosystem. Building on peaq has greatly boosted our growth over the past 2 months—we’re thrilled to lead the charge for a decentralized and optimized future in telecom together.”

— Michail Angelov, CEO and founder of Roam Network

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Silencio

Silencio is the world’s leading DePIN focused on noise intelligence, empowering communities to measure, analyze, and monetize environmental data at scale via their smartphones.

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Silencio in numbers

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2024 milestones

• Closed $2.5M seed funding led by Blockchange Ventures, bringing total funding to $3.5M.
• Integrated with peaq to decentralize rewards, scale rapidly, and expand data monetization opportunities.
• Transitioned all data onchain, setting the benchmark for fully on-chain DePIN models.
• Launched the new Silencio app with features like live mapping, noise complaints, and boosted rewards.
• Increased Beta Airdrop to 7.5% of $SLC token supply, driving community engagement.
• Community growth from 250k users to 400k+ users.

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A look into 2025

• Expanding the Silencio network and nurturing the demand side.

“With Silencio, we’re turning noise pollution into actionable intelligence, empowering communities and industries to make smarter decisions. Our partnership with peaq amplifies this vision, leveraging blockchain to scale globally and set a new standard for decentralized environmental intelligence. Together, we’re building a future where data drives sustainable, quieter, and more connected living.”

— Thomas W. Messerer, Co-Founder & CEO of Silencio

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Teneo

Teneo Protocol lets you earn rewards for running a Teneo Community Node and unlocking limitless real-world data with your unused social media bandwidth.

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Teneo in numbers

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2024 milestones

• Launched the Teneo Community Node as a Beta Version
• Built a community with over 1,000,000 users in less than 3 months
• Partnered with numerous DePINs and major players in the Web3 sector, such as Streamr Network and DePIN Hub.
• Built a tokenization infrastructure in collaboration with XMAQUINA.
• Had its smart contracts successfully audited by Hashlock.

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A look into 2025

• Start accessing real-time social media data on various platforms
• Mainnet Launch

“This past year has been incredible for Teneo Protocol. Seeing the Teneo Community Nodes grow so rapidly has been amazing – it’s a testament to the power of decentralization and the strength of our community. The Teneo Community Node is all about giving people control over their data and rewarding them for it. But let’s be clear – we’re just getting started. This is only the beginning of a journey to a future where data belongs to the people, and I couldn’t be more excited for what’s ahead.”

— Leroy Hofer, CEO of Teneo Protocol

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2025: the year crypto gets real

As we bring our yearly report to a close, it’s time to take a quick look ahead at what awaits peaq in 2025. The whole peaqosystem is already abuzz with excitement for what’s looking to become the definitive year of DePIN. 

It all kicks off in January, with the official start of the Get Real campaign’s first season, Web3’s largest token-incentivized campaign focused on driving real-world impact. With so many DePINs involved and so many rewards in play, Get Real will get the DePIN flywheel spinning faster than a blue hedgehog. 

Alongside Get Real, there are many exciting initiatives in play to help grow the peaqosystem and bring it to the next level. These include the expansion of peaq’s tech and integration stacks, as well as massive global-scale partnerships in the pipeline. 

Here are a few tidbits to give you a peaq into 2025:

• An upcoming runtime upgrade that will allow the community to set up validator nodes
• CEX and DEX listings
• A major bug bounty program
• The launch of a peaq-native DEX
• Continued research and development of peaq verify — peaq’s DePIN data verification framework
• AI integrations for peaq SDK
• NFTs
• A significant reduction of peaq’s block production time
• Global community initiatives

And that’s without even mentioning all the new DePINs choosing peaq as their home, synergies and collaborations between peaqosystem projects, kicking peaq’s DePIN Enterprise Adoption Program into high gear, and new tools for DePIN builders. 

Also coming in on the ecosystem side are:

• a powerful new institutional-grade instrument to provide funding and other support to DePINs building on peaq
• Integrations on the DAO side, powering the rise of the first Machine DAOs on peaq 
• Lots of new DePINs joining and migrating to peaq, including projects in such industries as healthcare AI, natural resource preservation, and more

Here’s to making 2025 the year where it all got real.