What is happening?

A new crowdloan opens for the community to support peaq’s bid to lease a parachain slot on Polkadot’s relay chain — an important milestone on the journey to the Economy of Things. With a cap of 375,000 $DOT, there's plenty of rewards and bonuses for contributors joining in.

Why does it matter?

While the peaq ecosystem already spans across multiple blockchains, a parachain slot lease on Polkadot is a key pre-condition for the mainnet launch later in the year. 

What does this mean for the community?

By supporting the crowdloan, the community gets another chance to get their $PEAQ tokens and support the project on its mission to distribute the boons of the automation era more equitably as its ecosystem keeps expanding. Head here to contribute, or read on for more info.

The Polkadot scene, one of the most bustling ones in the entire Web3, is hot these days. In the previous auction batch, our crowdloan saw the highest number of $DOT tokens locked in, collecting more than 168,000 $DOT across more than 1,000 contributors. It was a valiant effort, but it was not enough to outmaneuver Moonsama and Acala, who powered on through past the other competitors.

The upcoming auction batch will likely get even more heated, but we are throwing our hat into the ring again. We took the community feedback to heart, increasing the base reward and adding extra rewards and milestones. Our new and improved crowdloan is once open — here is what you need to know for joining in on the fun. 

peaq crowdloan overview

Key Information:

  • peaq Parachain ID: 3338
  • Targeted Auction: #44-45
  • Ending Block Estimated: 16,309,200 

As a contributor, you:

  • Get the base reward of 190 $PEAQ for every $DOT you contribute
  • Get a 2.5% early-bird bonus if you’re contributing within the first 72 hours of the crowdloan announcement (counting from 17:45 CET 27.05.2023),
  • Get a 3% bonus if contributing more than 500 $DOT, 4% bonus if contributing more than 1,000 $DOT, 5% bonus if contributing more than 5,000 $DOT,
  • Get a 2.5% bonus if you contributed to the previous crowdloan (only applicable if contributing from the same address — otherwise, we won’t be able to verify),
  • Get all of your $DOT tokens back when peaq’s 96-week parachain slot lease expires.

Milestone rewards:

  • 150,000 $DOT: Additional 1.5% for all contributors when milestone reached,
  • 200,000 $DOT: increased to additional 3% for all contributors when milestone reached,
  • 250,000 $DOT: increased to additional 4.5% for all contributors when milestone reached,
  • 300,000 $DOT: increased to additional 6% for all contributors when milestone reached.
  • 350,000 $DOT: increased to additional 7.5% for all contributors when milestone reached.

In total, crowdloan participants would be able to receive additional bonuses of up to 17.5%.

Crowdloan details: 

  • Crowdloan cap: 375,000 $DOT
  • Reward: 71,400,000 $PEAQ
  • Parachain slot lease period: 96 weeks
  • $DOT lock-up period: 96 weeks 
  • Vesting: 24-month linear vesting starting at TGE (Token Generation Event) 
  • Eligibility: Conditional on user’s agreement to Terms and Conditions, no KYC needed
  • Reward token: $PEAQ
  • Redeeming $DOT: You will receive your locked $DOT back automatically, without any manual input

How to participate:

  1. Polkadot.js — Through this digital vault, you can access any crowdloans on Kusama and Polkadot. This method is best suited for those who have some experience with the crowdloan mechanism.

We are working on securing additional ways for community members to join the crowdloan.

Don’t have a wallet on Polkadot yet? No worries, head here to learn how to set one up quickly and safely. To take part in the crowdloan, you will need to stake your tokens into an escrow account that will automatically release them back to your wallet once the lease period expires. If the crowdloan is successful, you will also receive peaq tokens in line with the vesting schedule. You can check up on any auctions at this link.

About peaq

peaq is the Web3 network powering the Economy of Things (EoT). peaq enables entrepreneurs and developers to build decentralized applications and DePINs for vehicles, robots, and devices, while empowering users to govern and earn as connected machines provide goods and services. Together with leading consortia such as Gaia-X, peaq is co-creating the standards that will power the future of mobility and other connected industries while working to democratize abundance in the Age of Automation.

Here’s a handy overview of how that works: 

[embed: https://www.youtube.com/watch?v=jfF1Udc17g4]

Here’s a 90 second video on what we’re all about, and you can find our vision deck at this link

Ticker: $PEAQ
Relay Chain:

Supply Structure: 5% of PEAQ tokens are expected to be minted each year. In addition, burning mechanisms set to a balancing ratio will allow the chain to maintain a stable token supply over time.

Total Supply: 4,200,000,000

Supply at Genesis: 4,200,000,000

Head to our documentation section to learn more about the peaq token. If you’re new to parachain auctions, there’s a brief summary for you there as well.

Got any questions? Don’t hesitate to head to Discord and ask, we’ll be happy to help. 

Join the Economy of Things