October 29, 2024

Twinstake joins peaq’s genesis node pool

peaq

Community

In a nutshell: Twinstake — the leading institutional staking provider trusted by top VCs, foundations, family offices, and other entities — has joined peaq’s genesis node pool. This will not only help further secure the peaq network, but also position Twinstake to unlock fully compliant staking services on peaq for institutions, enabling them to take part in peaq’s consensus mechanism and earn rewards for helping secure the network.

‍

Raising the stakes

With peaq’s launch date set for November 12th, things are now really heating up. Previously, peaq already unveiled a stellar line-up of top enterprises and entities in its genesis node pool, including Bertelsmann Investments, Deutsche Telekom MMS, Lufthansa Innovation Hub, and Technical University of Munich (TUM).

Today, another big name joins that group.

Twinstake is the latest addition to peaq’s genesis node pool, as it launches its own peaq node that will support peaq’s day-to-day operations from the network’s launch onwards.

Twinstake is a leading non-custodial institutional staking protocol that enables companies to earn rewards on their digital assets in a compliant and transparent way. Twinstake is trusted by leading foundations, asset managers, VCs, hedge funds and family offices.

This integration adds peaq to the select list of blockchains supported by Twinstake alongside Ethereum, Solana, TON, Polygon, and others. Its involvement in peaq’s ecosystem will position Twinstake to unlock fully compliant staking services on peaq for enterprises, enabling them to take part in peaq’s Delegated Proof of Stake consensus. mechanism. This way, they can earn rewards for helping make the network more secure, as well as gain exposure to the DePINs building on peaq.

At its genesis, peaq’s active node pool is limited at 32, based on the token stakes backing each node, including both the operator’s and their delegators’ tokens. The node pool is open to anyone to participate, with nodes run both by enterprises and community members, and the active pool may be gradually expanded as the network grows. The delegators — community members who stake their tokens in support of their chosen active nodes — get a share of the node rewards from the nodes they support.

“The DePIN sector has been attracting significant institutional interest, with decentralized infrastructure poised to transform industries such as mobility, energy, and logistics. By working with peaq, our clients will be able to gain exposure to a technology leader in the DePIN sector, and we are certain that its upcoming launch will generate significant value for our clients.”

— Andrew Gibb, CEO at Twinstake

“As the leading institutional staking platform, Twinstake is bringing a crucial institution-facing capacity into the peaq ecosystem. Its integration is another major step towards making peaq more accessible to large-scale asset managers, which in itself is one of the major goals on the way to the wider DePIN adoption. We’re excited to see this collaboration flourish and look forward to exploring the potential it brings to the ecosystem.”

— Leonard Dorlöchter, co-founder of peaq

‍