May 16, 2024

peaq secures $20 million in the largest CoinList launch in over 2 years

What is happening?

The $PEAQ token launch on CoinList has successfully concluded and was greatly oversubscribed by the community, with more than 14,500 wallets contributing. 

Why is it important?

This is a strong signal of the support and trust the community and wider Web3 space has in peaq, and an even stronger tailwind for the ecosystem as it heads toward mainnet launch — as well as a sign of greater interest for the DePIN space. 

What does it mean for the community?

A better, stronger, and more robust peaq. The funds from the token launch will go toward growing the ecosystem, further development of peaq’s Modular DePIN Functions, and ensuring network security.

Mission accomplished

It’s always morning somewhere, and right now, it truly is a GM, frens. The $20 million $PEAQ token launch on CoinList has just concluded, and guess what? It wasn’t just oversubscribed, you propelled it to be the largest CoinList launch in the past two years, breaking the record for both the largest amount secured and the largest amount contributed (including oversubscription) in over two years. The total contributions exceeded $36 million. A huge thank you goes out to the 14,500+ community members who participated and made this launch such a massive success.

While this is undoubtedly a reason for celebration, it also means that, unfortunately, some of you who signed up for the launch might not get in. Don’t worry, though, there’s still the $PEAQ for $KREST holders campaign to look forward to. And a little bird chirped that there might be some other opportunities on the horizon around the time of mainnet launch.

Talking about mainnet launch, did you know the peaqosystem grew by 20% just last month? That means that 25 DePINs have already announced they’ve chosen peaq as their home, before the network has even launched. And we can share that there will be many more in the weeks ahead. The funds from the CoinList token launch will enable peaq to double down on this traction. They will primarily go towards new ecosystem programs as well as community-facing initiatives pushing wider DePIN adoption. But they will also support further development of peaq’s Modular DePIN Functions, including:

  • peaq ID, multi-chain self-sovereign machine identities
  • peaq pay, seamless peer-to-peer payments for machines and people
  • peaq access, a role-based access control protocol
  • peaq verify, a three-tiered framework for DePIN data verification
  • peaq store, a machine data storage function
  • peaq reward, DePIN reward distribution

Now that the token launch is wrapped up, CoinList will confirm the final list of allocations over the next few days. So stay tuned and keep an eye on your inboxes. Further details on the token generation event will be provided closer to the mainnet launch in the coming weeks. 

“We are deeply grateful to the community for their faith in peaq’s mission and their continuous support. The token launch on CoinList was a big step toward becoming truly community-owned, and we’re excited to be moving further in this direction with more community events and initiatives. This is a very strong signal for the DePIN space as a whole.”

— Till Wendler, co-founder of peaq 

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