About

Peaq is a Layer 1 blockchain designed for Decentralized Physical Infrastructure Networks (DePINs), focusing on high performance and low transaction costs. It supports EVM and WASM Smart Contracts, offering developers flexibility and various backend features for DePINs and decentralized applications (dApps). These include self-sovereign Machine IDs and role-based access control. Peaq's architecture enables interaction across multiple chains, facilitating seamless connectivity within the blockchain ecosystem.

History

In March 2024, the Peaq team raised a $15M funding round led by Generative Ventures and Borderless Capital.

In July 2024, Peaq secured partnerships with XMAQUINA, MapMetrics, and Farmsent, launching pilot integrations for supply chain tracking and sustainable farm-to-table commerce. The team began localization for Belgian merchants and released the Bistroo testnet, enabling real-world restaurant payouts via Stripe.

In September 2024, Peaq announced its integration of Polkadot to power its native token, bringing over 1M devices across 45+ dApps on-chain with its launch.

In November 2024, Peaq brought USDC to its ecosystem, giving a major boost to Machine DeFi on Peaq.

In December 2024 Peaq announced that PING has joined the peaqosystem. With its own dedicated PING laptop for gamers, this project is set to bring a whole new class of gaming rigs to the Machine Economy on Peaq. At the same time, Peaq brought aZen and QUAKE to the peaqosystem.

In March 2025, the team announced the Universal Machine Time (UMT) as the first onchain implementation of the Precision Time Protocol (PTP), enabling any machine or DePIN to sync its clock with the network and timestamp any event with extreme precision.

In June 2025, MachineX, the first DEX purpose-built for Machine DeFi was introduced. At the same time, the Machine Economy Free Zone in the UAE was also established.

In September 2025, Peaq partnered with DualMint and KanayaAI to launch the world’s first tokenized robo-farm in Hong Kong, integrating RWA (real world asset) and robotics ecosystems. The project provided urban communities the ability to co-own and benefit from autonomous farms producing fresh greens on subscription models.