Tokens & Token Utility

Tokens

As a decentralized smart contract platform, peaq requires a utility token to function. Read the describtion of the token utility below for a detailed description of the token’s utility. 

Overview of the tokens in the peaq ecosystem:

PEAQ Token In the deployment of peaq on Polkadot, the token will be called PEAQ and the token symbol will be $PEAQ.

KREST Token In the deployment of peaq on Kusama (called krest), the token will be called KREST and the token symbol will be $KREST.

AGUNG Token In the peaq testnet (called agung), the token is called AGNG. This token can be acquired freely, as its only purpose is to drive development and testing on Agung.

Token Utility

The lifeblood of the Economy of Things.

The $PEAQ token is much, much more than a means of payment. It enables every core function and aligns the incentives of all network participants in the decentralized Economy of Things, including ownership of machines via NFTs and liquidity provision for DeFi mechanisms.

1) Economy of Things: Operations

• Transaction fees are paid in PEAQ
• Deployment of smart contracts is paid in PEAQ
• Network governance is performed using PEAQ
• Use of Web3 bridges is paid in PEAQ
• peaq network collators are rewarded in PEAQ

2) Machine DeFi

• Liquidity for the peaq ecosystem is provided in PEAQ
• Rewards to investors, dApps, collators and machines are handed out in PEAQ
• Liquidity Mining is performed using PEAQ

3) Minting of Machine NFTs

• Machine NFTs are LP tokens representing ownership of Liquidity Pools. Machine NFTs must be minted using PEAQ. Machine NFTs represent proxy partial ownership of machines and/or the Economy of Things and work to align all stakeholders.

4) Machine Deployment

• The creation of new machine identities is paid for in PEAQ
• Subsidization for new devices/machines is received in PEAQ

Token Metrics:

PEAQ. The PEAQ token can be found on coinmarketcap. The total number of tokens is 4,200,000,000 tokens.