Though summer has come to an end, the activity within the peaq ecosystem — affectionately called the peaqosystem — continues to heat up. Over the past quarter, peaq cemented its reputation as a trailblazer in Decentralized Physical Infrastructure Networks (DePIN). With significant moves like anchoring Borderless Capital’s $100 million DePIN fund and bringing in a host of new partners and projects, peaq is rapidly expanding its influence. Growth across nearly all fronts — such as a 67% rise in active DePIN projects and more than double the number of connected devices — highlight just how dynamic this quarter has been.
Let’s unpack the standout moments from Q3 2024.
Key Growth Metrics
The numbers from Q3 paint a clear picture of rapid growth across the peaqosystem:
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45 active DePINs: up by 67% compared to previous figures.
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1.3 million connected devices: reflecting a 105% increase.
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1 million active users, marking a 70% boost.
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27 DePIN-relevant enterprises, representing a 23% increase.
Fresh Additions to the peaqosystem
The third quarter welcomed a slew of innovative projects to the peaq platform, all contributing new ways to leverage decentralized infrastructure:
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SPIN.FASHION: Merging art, luxury, and blockchain, this platform has already onboarded over 100 brands and offers more than 80,000 digital and physical items, with plans to expand to over 1 million items in the next year.
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Kaisar Network: Offering decentralized peer-to-peer GPU computing for AI, Kaisar Network taps into 100,000 GPUs, positioning itself as a Web3 alternative to centralized cloud platforms.
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YOM: Migrating from Solana, YOM’s DePIN utilizes idle gaming rigs to stream content, enabling gamers to earn tokens for every hour of game time their hardware supports.
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Roam Network: Roam incentivizes users to share anonymized mobile signal data, which in turn provides telecom companies with detailed, crowd-sourced insights across 149 countries.
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NetSepio: Focused on decentralized VPN services, NetSepio’s users can earn rewards for sharing bandwidth, offering a secure, private internet browsing experience.
These projects are just a fraction of the 10 new DePINs added this quarter, with more innovative use cases on the horizon.
Strengthening Infrastructure with Key Integrations
Several major integrations took place in Q3, further strengthening the peaq ecosystem:
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VLaunch: The first launchpad for projects building on peaq, giving DePINs an avenue to offer early token access to the community.
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Fireblocks: Institutional players now have a secure solution for managing $PEAQ and peaq-native assets, thanks to Fireblocks’ robust platform.
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Ledger & Safe: Users will have access to secure storage and transaction solutions for $PEAQ tokens via Ledger hardware wallets and Safe multisignature wallets.
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LayerZero: This key integration connects peaq to over 80 blockchains, simplifying cross-chain migrations and enabling new forms of interaction for projects moving onto the platform.
Enterprise Collaborations Take the Stage
The quarter saw peaq expanding its enterprise partnerships, attracting attention from major industry players:
- Deutsche Telekom, Lufthansa Innovation Hub, Bertelsmann Investments, and TUM: These heavyweights joined peaq’s genesis node pool, underscoring the growing link between DePIN technology and traditional business sectors.
This influx of support from high-profile organizations is a clear signal that the peaqosystem is gaining traction beyond the blockchain space, pushing its decentralized solutions into mainstream industries.
peaq at TOKEN2049 Singapore
peaq had a strong presence at the TOKEN2049 Singapore event, which helped pave the way for new growth opportunities. With a booth featuring 25 DePINs, the peaq display captured significant attention, showcasing how far decentralized infrastructure has come. On stage, leaders from YOM, MapMetrics, and Farmsent engaged in a panel discussion about why many DePINs are choosing peaq over other blockchain platforms, emphasizing scalability and cost advantages.
The event also featured Genesis, an exclusive session focused on accelerating the development of peaq ecosystem members, further boosting the project’s prominence.
$100 Million DePIN Fund and Ecosystem Expansion
One of the most noteworthy developments of the quarter was peaq’s involvement as a cornerstone investor in Borderless Capital’s $100 million DePIN fund. Led by industry veterans, including Helium’s co-founder and a former Telefónica investment head, the fund is designed to drive more DePIN projects onto peaq, further expanding its ecosystem and enhancing its role as a leading DePIN hub.
A Strategic Mainnet Launch Delay
While many expected peaq to officially launch its mainnet this quarter, the team made the strategic decision to push the launch to October 2024. This calculated delay allows peaq to take advantage of new opportunities, such as potential partnerships with major exchanges, ensuring a stronger and more impactful debut.
CertiK Audit: Validating the Foundation
In a major achievement for the project, CertiK — one of the leading names in blockchain security audits — ranked peaq #1 for fundamentals in its first audit of the platform. This high ranking highlights the strength of peaq’s underlying technology and its commitment to security, providing confidence for both users and investors.
The Road Ahead
With 45 DePINs now part of the peaq ecosystem, over 1.3 million devices connected, and 1 million active users, the future of decentralized infrastructure looks increasingly bright. As peaq prepares for its long-awaited mainnet launch, it’s clear that the project is poised to disrupt industries ranging from agriculture to transportation, with no signs of slowing down.
Q3 2024 has proven that peaq isn’t just another blockchain project — it’s building the foundation for a new way to structure global infrastructure. This is more than just a platform; it’s a rapidly growing ecosystem that is reshaping industries and creating opportunities for decentralized solutions to thrive.
Welcome to the home of DePIN
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Know any DePINs that should move to peaq? Share this blog with them.
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Want to help change the world? Start building on peaq today or get your idea funded.