peaq Crowdloan 2023

To secure a Polkadot parachain slot for the peaq network, peaq will open a crowdloan and compete in an auction against other projects. All information related to the crowdloan can be found below.

Key Information: 

• PEAQ Parachain ID: 3338
• Targeted Auction: #42-43
• Ending Block (Estimated): #15,385,734

How to Participate:

You can currently use the following methods to contribute:

1. Polkadot.js — This method requires an advanced understanding of polkadot.js
2. Bifrost — Receive liquid derivatives from your staked DOT in a user friendly manner

If you do not have a DOT wallet yet, you can follow this link to learn how to set one up in polkadot.js. Contributors to our successful crowdloan will receive PEAQ tokens over the course of 96 weeks according to our vesting schedule. The contributed DOT will be unlocked trustlessly and automatically returned to the contribuafter 48 weeks and returned to contributors.

Crowdloan Details: 

• Crowdloan cap: 300,000 $DOT
• Reward: 42,000,000 $PEAQ
• Lease period: 96 weeks
• DOT Lock Up Period: 96 weeks 
• Vesting: 24 month linear vesting starting at TGE (Token Generation Event) 
• Eligibility: Users must agree to Terms and Conditions, no KYC required 
• Token Received: $PEAQ 
• 1 DOT = 140 $PEAQ 
• Redeeming DOT: Your DOT will be unlocked and returned to you without any input required

Benefits for contributors include:

• 5% bonus when contributing 5000+ DOT 
• Get all your DOT contributions back when the parachain 96 week lease period ends

The peaq Token:

• Ticker: PEAQ
• Relay Chain: Polkadot
• Supply Structure: Inflationary. 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

peaq is a community-powered network for community-governed projects leveraging community-owned machines to create real-world value. With the network tokenomics, the peaq Foundation aims to set a healthy equilibrium between the need for substantial Web3 funding and token access and governance for the community. For this and other reasons, a significant amount of the tokens is made available for the ecosystem and Treasury as well as for community offerings. Please find the breakdown of the $PEAQ token economics below:

• 8% for Parachain Auction(s): The amount allocated for securing the current and future parachain slots via Polkadot auctions.
• 13% for Ecosystem & Treasury: The amount allocated for supporting builders, funding growth and maintenance of the network.
• 20% for Community Offering(s): The amount allocated for various offerings/sales enabling the community to get access to the token.
• Funding:
  • 10% Pre-Seed Sale
  • 5% Seed Sale
  • 13% Private Sale
  • 10% Series A
• 19% for EoT Labs/Team
• 2% for Advisory

For transparency reasons, we would like to point out that until the TGE, these tokenomics may be subject to potential minor changes if those are deemed necessary in the best interests of the project and the community. 

Further Questions? 

For any kind of question please stop by at our Discord any time.