January 9, 2024

2blox deploys token and reward mechanism on peaq

What’s happening?

2blox has developed and deployed token smart contracts and reward distribution rules on the EVM side of peaq’s agung testnet.

Why is it important?

This is the next step toward the integration of user wallets, device management, and automatic reward distribution, meaning users will be able to earn tokens by collecting anonymized traffic data.

What does it mean for the community?

The development brings closer the launch of the 2blox AI-powered camera DePIN on peaq, which will attract more network activity and add even more value to the growing community.

2blox sets up token rewards for data on road traffic

Mobility data is essential. Frequent commuters tap live traffic data when using navigation apps, but these insights are also vital for city functionality and infrastructure plans. This data doesn’t come out of nowhere, though, and as we provide it, tech companies get to cash in, sometimes with little regard for our privacy. 2blox is committed to changing this equation by empowering the community to collect anonymized street traffic data for rewards. 

2blox has developed MobiGO, an AI-powered mobile app that is a key part of their decentralized physical infrastructure network (DePIN). This app, available for both iOS and Android devices, turns smartphones into traffic data collectors, enabling users to count traffic and measure speeds. Additionally, 2blox's AI cameras, MOBI1 (not currently for sale), also collect local road traffic data. Users who share anonymized data from both MobiGO and MOBI1 with the network earn cryptocurrency rewards, contributing to the enhancement of urban mobility and safety. 

As the first major step toward launching on peaq, 2blox added peaq ID support to its DePIN of AI-powered cameras. Now, 2blox has completed the development and deployment of token smart contracts and reward distribution rules on the Ethereum Virtual Machine (EVM) side of peaq’s testnet agung. This sets up some of the core mechanisms that will enable people to link the devices with their wallets and earn rewards for the data they collect, working as the decentralized backbone for the core functionality of its mobile app. 

Milestone 2 of the peaq Grant Program has been unlocked.

Soon to follow is the launch of 2blox’s dApp on peaq, which will enable the community to set up the new backbone for the mobility data market of the future and earn rewards for providing valuable insights on the traffic in their localities. 

To learn more about 2blox, visit their official website, join their Discord, and follow them on X.

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