Peaq is a Layer-1 blockchain that is designed to support decentralized physical infrastructure networks (DePINs). The platform bridges the gap between digital innovation and its application in the real world.
Peaq recently announced an airdrop for its native cryptocurrency PEAQ. This article contains everything you need to know about the airdrop, who is eligible for it, how to claim the free tokens, details about $PEAQ, and its future price prospects.
So, let’s get started.
What is Peaq ($PEAQ)?
Peaq is a blockchain framework that enhances Decentralized Physical Infrastructure Networks (DePINs). The core concept behind the protocol is to create a space where technology and practicality can intersect.
DePins are networks where people can directly interact with each other to share and use products and services through an open and decentralized marketplace. There is no centralized authority controlling the network.
The developers behind Peaq claim that the blockchain can process up to 10,000 transactions per second at remarkably low cost.
Peaq Network’s Unique Features
Here are a couple of reasons that make PEAQ unique to other on-chain projects:
- PEAQ introduced a system called Machine DeFi that allows computers to manage financial transactions by themselves.
- PEAQ promises to seamlessly integrate with other blockchains. This can be viewed as a move to potentially improve the blockchain’s application and user accessibility.
Use Case of Peak Network
A prime example of the Peaq blockchain’s utility is the ELOOP car-sharing project. This platform allows vehicle owners to rent out their idle-sitting cars, thereby providing them with an income stream from assets that are not in use.
Renters on Eloop gain the opportunity to earn a share of the network profits by holding PEAK, the native cryptocurrency of the Peaq blockchain.
What is the PEAQ Token?
PEAQ is the native utility and governance token of the Peaq blockchain. It is designed to facilitate operations within the DePin ecosystem that involve real-world applications.
The efficacy of the cryptocurrency is currently being tested on the KREST network, which acts as a sandbox environment where the team can develop and trial new features and systems.
PEAQ has a total supply of 4 billion tokens and all of them are currently in circulation. The token has a market cap of $253,968 at the time of writing.
PEAQ Price Prediction
At press time, PEAQ is trading at $0.00006349. The token’s price remains unchanged over the past 24 hours.
Since PEAQ is currently under the ICO and airdrop phase, there is no information available about its future price prospects. This section will be updated once the token begins trading on exchanges.
What is the PEAQ Airdrop?
The Peaq network has launched an airdrop for its native token to enhance user engagement and network participation. The event will provide $500 to eligible wallet holders along with the PEAQ token. The coins will also grant them a vote on upcoming decisions for the growth and development of the project.
Who is Eligible for PEAQ Airdrop?
To be considered for the PEAQ airdrop, participants need to hold a minimum of $2,000 worth of KREST tokens. The KREST must be stored in a non-custodial wallet such as Talisman, Nova Wallet, Subwallet, or Polkadot.js.
Others who are interested in the airdrop can purchase KREST from exchanges likeMEXC and XT. Tokens that have been staked also count towards the airdrop qualification.
How to Join and Claim the Airdrop?
Follow these steps to get your hands on the freshly dropped PEAQ tokens:
Final Thoughts
The PEAQ airdrop is a chance for you to become part of a community-led token initiative and help influence the project’s evolution. By staying knowledgeable about the market and the activities involved, you can maximize the benefits of this airdrop.
While PEAQ presents an innovative blockchain-based solution to maintaining the balance between technology and its real-world application, the project is still in its infancy and harbors the potential for typical risks associated with early-stage crypto projects.
Therefore, it is highly recommended that you conduct thorough research before making any investment decision regarding PEAQ.
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