# peaq > peaq is a Layer 1 blockchain tailored for Decentralized Physical Infrastructure Networks, allowing representation, verification, and monetization of machines and devices on-chain. - Canonical URL: https://iq.wiki/wiki/peaq - Categories: Projects & Protocols - Tags: Polkadot, DeFi, Layer1, Infrastructure, RWA - Created: 2026-08-12T09:07:30.351Z - Last updated: 2026-08-12T09:07:30.351Z - Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki) --- **peaq** is a layer 1 blockchain designed to support Decentralized Physical Infrastructure Networks ([DePIN](https://iq.wiki/wiki/depin)) and real-world assets (RWAs), facilitating the representation, verification, and monetization of machines, vehicles, robots, and devices on-chain. It is developed to serve as a bridge between the digital and physical worlds by transforming physical machinery and infrastructure into economically active entities. Initiated from EoT Labs' work on enterprise IoT solutions, peaq leverages blockchain technology to enable a wide array of devices through its network. [\[1\]](#cite-id-E4q5P6m9woToqgW9)​ ## History peaq's foundational work commenced within EoT Labs, which focused on enterprise IoT projects and collaborated with entities like Audi, NTT, DMG Mori, and Gucci. The blockchain emerged as a specialized solution for [DePIN](https://iq.wiki/wiki/depin) applications around 2021. [\[2\]](#cite-id-I03bv9UpTnUQzAoN) The project's focus on enabling real-world assets to operate on a blockchain network represents an integration of physical infrastructure with decentralized systems. In March 2024, peaq raised $15 million in a multi-tranche funding round led by Generative Ventures and Borderless Capital, with participation from investors including [Animoca Brands](https://iq.wiki/wiki/animoca) and CMCC Global. In May 2024, the company raised an additional $20 million through a [CoinList](https://iq.wiki/wiki/coinlist) token launch."[\[3\]](#cite-id-FD3zsfnIeRHcwyBS) [\[1\]](#cite-id-E4q5P6m9woToqgW9)​ ## Technology and Architecture peaq is constructed as a multi-chain layer 1 blockchain using the Substrate framework, known for its EVM compatibility and support for Rust-based (ink!/WASM) smart contracts. It integrates with developer ecosystems from both [Ethereum](https://iq.wiki/wiki/ethereum) and [Polkadot](https://iq.wiki/wiki/polkadot), ensuring developers have access to diverse programming capabilities. [\[2\]](#cite-id-I03bv9UpTnUQzAoN) The blockchain provides various modular [DePIN](https://iq.wiki/wiki/depin) functionalities, including self-sovereign machine IDs, role-based access control, machine payment processing, and data indexing, which are accessible through a comprehensive software development kit (SDK). [\[3\]](#cite-id-FD3zsfnIeRHcwyBS) Project-reported scalability features indicate that peaq can handle transaction throughput beyond 10,000 TPS, with cost-effectiveness per transaction being approximately $0.00025. [\[2\]](#cite-id-I03bv9UpTnUQzAoN)​ ## Products and Use Cases The peaq network enables machines to operate as autonomous economic agents by ensuring their on-chain representation and verification. Its infrastructure supports multiple products and use cases including [DePIN](https://iq.wiki/wiki/depin) applications, which involve decentralized entity networks that power real-world assets (RWAs). [\[4\]](#cite-id-UOuBHEZs72th066H) It powers the '[DePIN](https://iq.wiki/wiki/depin) [Base](https://iq.wiki/wiki/base) Camp', a 12-week accelerator program partnered with Outlier Ventures to mentor and support [DePIN](https://iq.wiki/wiki/depin) projects with up to $200,000 in funding. [\[5\]](#cite-id-F6PQ3uoVgQgMzwSB)​ Partnerships enhancing the peaq ecosystem include collaborations with major firms such as Bosch and Fetch.ai to develop a smart device integrating [Web3](https://iq.wiki/wiki/web3) and AI capabilities. [\[5\]](#cite-id-F6PQ3uoVgQgMzwSB) As of late 2024, more than 3 million machines and over 50 [DePIN](https://iq.wiki/wiki/depin) projects have been launched on the network, reflecting its adoption. [\[3\]](#cite-id-FD3zsfnIeRHcwyBS)​ ## Tokenomics The PEAQ token supports various functionalities within the network, including transaction fees, staking, and community governance. Its monetary design features an uncapped supply, having begun with 4.2 billion tokens at genesis. The inflation rate, initially set at 3.5% per annum, decreases annually by 10% until it stabilizes at a 1% inflation rate. [\[3\]](#cite-id-FD3zsfnIeRHcwyBS) In November 2024, PEAQ was scheduled to be listed on Bitvavo, enabling broader accessibility to the token. [\[2\]](#cite-id-I03bv9UpTnUQzAoN)​ ## Team and Governance peaq was co-founded by Till Wendler, Leo Dorlöchter, Max Thake, Julia Pönitzsch, and Pavel Fomenko, who previously developed enterprise IoT solutions at EoT Labs. [\[3\]](#cite-id-FD3zsfnIeRHcwyBS) [\[2\]](#cite-id-I03bv9UpTnUQzAoN) Till Wendler has considerable experience in tech startups and decentralized systems, contributing to navigating the landscape of the Economy of Things (EoT). Leo Dorlöchter has been active in the blockchain sector since 2015, with a focus on decentralization and self-sovereignty. Max Thake, with his background in writing and entrepreneurship, aids in simplifying complex technologies. Julia Pönitzsch and Pavel Fomenko have also contributed significantly to the project's development. The team has formed partnerships with companies such as Bosch and Fetch.ai and participated in accelerator programs to support [DePIN](https://iq.wiki/wiki/depin) projects. [\[4\]](#cite-id-UOuBHEZs72th066H)​ ## Funding and Partnerships As of late 2024, peaq had amassed over $40 million in total funding, reflecting strong investor confidence. [\[3\]](#cite-id-FD3zsfnIeRHcwyBS) Major partnerships include efforts with Bosch and Fetch.ai, creating innovations that combined [Web3](https://iq.wiki/wiki/web3) and AI on smart devices. These strategic alliances are essential for peaq in redefining infrastructure and machine economy applications. [\[5\]](#cite-id-F6PQ3uoVgQgMzwSB)​ peaq's ecosystem includes accelerator programs, enterprise partnerships, and a growing number of machines and [DePIN](https://iq.wiki/wiki/depin) projects connected to the network.