The gateway into the Economy of Things
Before we dive into the specific features, here’s a quick refresher on what we’re talking about here. peaq portal is the community’s one-stop-hub for all things peaq token. Here, users will be able to buy and trade $PEAQ, mint NFTs, take part in network governance, and keep their finger on the pulse of the Economy of Things via handy graphs and visualizations. Alongside peaq control, the Web3 command-and-control center for managing connected devices, peaq portal is one of the key tools for the community to interact with the network through.
With that out of the way, let’s first dive into some quality-of-life improvements in the new release:
- We’ve added a Home page that welcomes users with a dashboard with stats and graphs giving the community a comprehensive overview of the network. It displays the total number of peaq IDs on the network, the number of dApps and DePINs on peaq, the total number of transactions on the blockchain, and the number of network nodes, as well as the counters for EoT NFTs and peaq's Total Value Locked. Besides these, it also displays the network reward allocations for various stakeholders and peaq's projected economic impact in the coming years.
- The Bridge page interface has been redesigned to improve the user experience. The bridge enables the peaq community to seamlessly transfer tokens between the EVM and Substrate components of the network.
Wait a second, you may think, Economy of Things (EoT) NFTs — what exactly are those? Bored Robo-Apes, perhaps, or maybe, the Machine NFTs that we have been talking about? Great catch, we haven’t properly introduced them yet, so let’s dive in deeper!
EoT NFTs and community voting
First of all, don’t worry, an EoT NFT is not just a blockchain record with a link to a .jpeg file. Yes, there are pictures involved, and we promise they look cool, but let’s be real, a good NFT is first and foremost about utility. And EoT NFTs have a ton of utility to go around.
The first generation of EoT NFTs will represent a user’s position in a liquidity pool provided to the network. These NFTs will generate rewards for their holders based on the amount of underlying liquidity. The EoT NFTs page on peaq portal is where the community will be able to mint, manage, and burn their EoT NFTs on the network in just a few clicks. Burning the NFT grants you the tokens locked to originally mint it.
Besides providing liquidity, EoT NFTs will have another major function in the ecosystem: Enabling user voting. An EoT NFT holder can stake their token to get a certain number of votes based on the token’s underlying liquidity. On the Voting page, the user can then cast these votes in support of a dApp or a DePIN on peaq, or a specific machine class. Voting increases the rewards earned by the NFT and also grants more rewards from the network revenue to projects that users have supported. Ultimately, this enables users to make their voices heard and directly impact the ecosystem and its future.