May 9, 2024

The $PEAQ token launch — all you need to know

What’s happening?

For the first time, the $PEAQ token is available to the community. 

Why is it important?

The ultimate vision for the peaq network is for it to be community-owned and -run. This is a major step toward that goal.

What does it mean for the community? 

That the years of waiting are finally over — “wen token” has been answered. Head here to join in or read on for more deets.

peaqonauts, prepare for takeoff

You know that feeling when you’ve finally climbed a tall mountain, wind wailing in your ears, and you see a whole valley of even taller mountains ahead of yourself? Okay, we don’t either (we’re builders, not alpinists). The point is, we’ve reached a very major milestone. $PEAQ is finally live on CoinList. It’s an exciting development, and before we get into the details, here is a quick shout-out to all peaqonauts who have been waiting for this moment and put their trust in the project to deliver something worth getting thrilled about. 

Now, without further ado, here are the juicy details:

Platform: CoinList

KYC: Mandatory

Start Date: May 9th, 2024, 17:00 UTC

End Date: May 16th, 2024, 17:00 UTC

Allocated supply: 252,000,000 $PEAQ

% of total supply: 6%*

Fixed token price: $0.079274

Fully diluted network value: $333,333,333.33

Minimum purchase limit: $100

Maximum purchase limit: $2,500,000

Whale category minimum purchase limit: $50,000**

Purchase options: USDC, USDT

Vesting schedule: 15% unlock at TGE and 6 month linear vesting 

Eligible participants: Excluded participants include residents of the US (and its territories), Canada, China, North Korea and certain additional jurisdictions.

*Out of the 6% of total token supply offered in this launch, 1.5% of the total token supply will be allocated to peaq’s community whitelist. The remaining 4.5% of the total token supply is open to all participants.

**Participants who commit $50,000 or more will qualify as “Whales” and automatically receive token allocation from the Whales category pro-rata. The whales allocation is capped at 0.5% of total token supply. 

An email was sent out to subscribers of the launch updates mailing list, giving them an opportunity to apply for whitelisting. This was purposely sent via this email and directly to peaq’s Discord community to give peaq’s most loyal supporters an early start before it disseminates into the broader Web3 space. 

How to participate

It’s really simple. Just follow these steps:

  1. See if the $PEAQ launch is available in the jurisdiction you’re a resident of:  
  2. Set up your account at CoinList: 
  3. Pass KYC — you will need a compatible personal ID with a photograph and a laptop or smartphone with a camera
  4. Top up your CoinList wallet with the desired contribution amount. Please make sure to check the minimum / maximum purchase limits.
  5. Stay tuned to peaq’s official channels for more details.

That’s all there is to it.

There have been some questions from the community about whether or not you need to hold $KREST tokens in order to participate in the $PEAQ launch campaign on CoinList. To make it perfectly clear: holding $KREST tokens is not a prerequisite for participation and does not guarantee you an allocation of $PEAQ in this campaign. The $PEAQ for $KREST holders campaign is separate from this.

When the launch closes, CoinList's algorithm will pick the people who get $PEAQ, while others will receive the funds they had committed back. The refund will take about 48 hours. Note that the rules are the same no matter at what point in time you join in.

In other words, whether you hopped into the rocketship early or held off until the last day of the launch, you still stand the same chances of getting the tokens. Even if the launch is oversubscribed, you can still join in and contribute, again, at the same odds of getting the regardless of whether you joined before the launch was oversubscribed or after it. Fundamentally, as long as you joined anywhere in the time window between the start and end dates, your chances of getting your $PEAQ are the same no matter when exactly you contributed.

Have questions about the CoinList platform? Check out their FAQ here.

A peek at $PEAQ

So what exactly is $PEAQ good for, other than producing hilarious headings like the one you just read? Well, as the native token of the sprawling peaq ecosystem, $PEAQ has the following utility:

  • Transaction fees: You need $PEAQ tokens for all transactions on the network. 
  • Keeping the network running: You need to stake a certain amount of $PEAQ to set up a collator node — a crucial part of peaq’s consensus mechanism. You also need $PEAQ to become a delegator, supporting a chosen collator and earning a part of their rewards.
  • Deploying smart contracts: Whether you’d like to deploy EVM or ink! smart contracts on peaq, you’ll need to pay a fee in $PEAQ.
  • Network governance: With future updates, the community will be able to use their $PEAQ tokens for votes on a variety of matters, taking ownership of peaq network and its development.
  • Reputation system: A future utility of the $PEAQ token will see machine owners and operators stake $PEAQ tokens on their machines to guarantee their trustworthiness.

Head here to learn more about the token’s utility and tokenomics.

Looking forward

For safety purposes, please note that this is the ONLY launch campaign of the $PEAQ token before the token is listed on exchanges

There won’t be any surprise airdrops, campaigns on other platforms or launchpads, or airdrops on other platforms. If anything suspicious catches your eye, flag it to the team on Discord, X, or Telegram, and cross-reference all the information on peaq’s official channels.

Now, with the details and the public safety announcement out of the way, there’s only one point left to make, really: This is a turning point for the project, the moment when the network begins to open up for the community. peaq was always meant to follow the Web3 ethos and be a community-owned and community-run network, and the launch campaign is the first step toward that. 

This is an exciting moment, one that took years of research and building, and it signifies a thrilling new stage for the project — one that everyone in the community has been waiting for. And as things gear up for the launch of the peaq mainnet, a lot more exciting milestones await the whole ecosystem in the future.

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