A Home For DePIN Projects
Earlier in the year I addressed the Peaq Network. At the time of my initial publication, Peaq was home to 25 DePIN projects. That number has since grown significantly and currently stands at 38 DePINs and dApps at the time of writing. Peaq is functioning as a magnet for DePIN projects and the market is awaiting its token launch with great anticipation. Early investors in Peaq are likely to be well rewarded.
Even in Crypto, long-term investors receive the lion’s share. If you are a trader and understand market movements and capital rotation within the sector you can outperform a HODLer. However, that’s only for some. Getting in early or buying a steep correction always helps the HODLer to gain an advantage. The Peaq mainnet goes live on the 12th of November, enabling interested parties to get involved early.
I first introduced readers to the Peaq Network in May of this year. I have been bullish on Peaq and DePIN for some time now. I have previously addressed numerous DePIN projects such as UpRock, Grass, and Silencio, which is part of the Peaq ecosystem. Regular readers will be aware of the recent Grass Airdrop which has secured many participants hundreds and even thousands of dollars.
Farming Grass points with “Stage 2: Capturing The Web” is expected to run for several months. Grass points are later converted to GRASS tokens and airdropped to users. The staking of GRASS tokens is currently yielding a 51% APR, which is amazing, especially since GRASS has been on an absolute tear since it commenced trading on multiple CEXs and DEXs. The token peaked earlier today at $1.90!
Dive Into The Peaq Ecosystem
Grass is a Solana-based project. However, many DePIN projects have recently been migrating to Peaq. As I mentioned there are currently 38 DePIN and dApps housed in the Peaq ecosystem. Big names are getting involved with Peaq and a Layer1 exclusively reserved for DePIN projects is likely to secure a significant market cap, even in its formative stages. Investors are already lining up to gain an early entry.
Grass peaked at a $500 million market cap within 48 hours of listing, can you imagine the heights Peaq will reach as it is a Layer1 currently housing 38 individual projects? Peaq is built on Polkadot, which is a Layer0 and offers exceptional scalability and up-to-date data. As I mentioned in a recent article, DePIN is a passive income economy. The Machine Economy will be massive, especially considering how AI plays a role.
The Economy of Things was birthed from the Internet of Things, a narrative that is not new. However, it has not realized much adoption up until now. Older projects like IOTA might come to mind. This project was a stellar performer in the 2017 bull run but has been rather quiet regarding investor sentiment and market performance. DePIN, specifically Peaq, is set to reshape machine models.
Peaq is a long-term hold, especially if additional income-generating opportunities like staking are available. Most parachains (Layer1s) on Polkadot offer staking protocols with a healthy APR. The future is advancing and DePIN is yet another niche set to propel society into a machine-driven world.
Final Thoughts
I was bullish on Peaq 6 months ago. That has not changed, except that I am even more bullish now! This is a token launch you don’t want to miss. Check out the Peaq Community Hub to join the various social accounts and stay up-to-date with developments and announcements regarding Peaq and its broader ecosystem. All the best, thanks for reading and I will see you next time!
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.
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