peaq

peaq is a DePIN-focused Layer-1 blockchain built for the machine economy, giving machines, robots, vehicles, and AI agents self-sovereign identities, wallets, and the ability to transact and be tokenized. Built on Polkadot's Substrate framework and EVM-compatible, it is developed by EoT Labs and launched its mainnet and PEAQ token in November 2024.

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What Is peaq?

peaq (stylized in lowercase) is a Layer-1 blockchain built for what its team calls the "machine economy" or "Economy of Things." It is both a general-purpose Layer-1 and a piece of DePIN (decentralized physical infrastructure network) infrastructure, and the most accurate description is a DePIN-focused Layer-1 for the machine economy. On peaq, machines such as robots, vehicles, sensors, IoT devices, and AI agents can be given self-sovereign identities, on-chain wallets, and portable reputation, so they can transact, coordinate, and even be tokenized as real-world assets.

Overview - Table of Contents
What Is peaq?
Getting Started With peaq
How To Get A peaq Wallet?
peaq Resources
How To Buy peaq?
Latest peaq News

Technically, peaq is a sovereign, EVM-compatible Layer-1 built on Polkadot's Substrate framework, and it carries Polkadot parachain heritage. Because it is a Substrate chain, it is natively compatible with the Polkadot ecosystem and secured by a nominated proof-of-stake model. It supports two smart contract environments: the Ethereum Virtual Machine (EVM), so developers can deploy Solidity contracts, and ink!, Polkadot's Rust-based contract framework. This dual nature is important to understand: peaq is not an application running on someone else's chain, it is its own base layer, but one purpose-built and tooled around physical infrastructure and machine use cases rather than general DeFi.

peaq is the flagship project of EoT Labs, a company founded in 2017. Its founding team includes Till Wendler (co-founder and CEO), Leonard Dorlochter (co-founder and CPO), and Max Thake (co-founder). The project spent several years building within the Polkadot ecosystem, completed the Substrate Builders Program, and raised venture funding (including a $6 million round led by Fundamental Labs in 2022) before its token generation event and public launch.

The core of peaq's design is machine self-sovereign identity. Each device can hold a decentralized identifier and wallet, accrue reputation based on its behavior, and pay or be paid for the services it provides. Builders can deploy DePIN applications on top of these primitives, and machines can be represented as "Machine RWAs" (real-world assets) that are tokenized on-chain, which is the basis for peaq's Initial Machine Offerings framework. The network reports millions of machines, devices, and users onboarded across its ecosystem of DePIN projects.

The native token is PEAQ. It is used to pay transaction fees, to stake and secure the network, and for governance. peaq's token generation event concluded on September 19, 2024, and the mainnet and PEAQ token officially launched on November 12, 2024. PEAQ has a circulating supply of roughly 2.3 billion tokens, a total supply of about 4.425 billion, and a maximum supply near 5.668 billion, giving it a market capitalization in the tens of millions of dollars. A separate wrapped version, WPEAQ, exists for use on other chains and should not be confused with the native asset.

Prospective holders should be aware of a live supply overhang. Large investor and contributor allocations continue to vest and unlock across 2026 and 2027, meaning circulating supply is scheduled to keep rising well above current levels. This ongoing emission is a real risk to price and worth tracking against the project's actual usage growth. On the positive side, no hacks or exploits of the peaq chain have been reported to date.

Getting Started With peaq

You can engage with peaq as a token holder, a developer, or a machine or DePIN operator:

Step 1: Set up a wallet that supports peaq (a Polkadot or Substrate wallet, or an EVM wallet since peaq is EVM-compatible) and back up your seed phrase.
Step 2: Acquire PEAQ on a supported exchange and withdraw it to your wallet. Double-check you are holding native PEAQ, not the wrapped WPEAQ token.
Step 3: Stake PEAQ to help secure the network and earn rewards, or use the peaq app to explore DePIN projects and tokenized machines in the ecosystem.
Step 4: If you are a builder, read the peaq docs and Purple Paper to deploy EVM (Solidity) or ink! (Rust) contracts and integrate machine identity primitives.

How to Get a peaq Wallet?

peaq is a Substrate-based Layer-1 with EVM compatibility, so it works with both Polkadot ecosystem wallets and Ethereum-style wallets. Choose based on how you intend to use the network.

SubWallet

SubWallet is a popular wallet for the Polkadot and Substrate ecosystem, available as a browser extension and mobile app. It supports peaq accounts and is a good default for interacting with the native chain and staking.

Talisman

Talisman is another widely used Polkadot and Substrate wallet with a browser extension. It supports Substrate-based networks like peaq and manages both Polkadot-style and EVM accounts.

MetaMask

Because peaq supports the EVM, you can add its EVM network to MetaMask to interact with Solidity-based contracts and EVM dApps deployed on peaq. This is the option to use if you are working with the EVM side of the chain.

Hardware Wallets

Ledger devices can be paired with compatible Substrate or EVM wallets to keep keys offline, which is recommended for larger balances.

peaq Resources

How to Buy peaq?

PEAQ is listed on a range of centralized and decentralized venues. Confirm you are buying the native PEAQ token and, when withdrawing, that you select the correct network.

Centralized Exchanges

PEAQ is available on exchanges including Bybit, KuCoin, Gate, Bitget, and MEXC, among others. Common pairs are quoted against USDT. Availability varies by region, so check that PEAQ trades and can be withdrawn in your jurisdiction.

Decentralized Exchanges

Because peaq is EVM-compatible, PEAQ and its wrapped form can be traded on decentralized exchanges that support the network. Always verify the correct token contract before swapping to avoid impostor tokens, and be mindful that on-chain liquidity for a smaller-cap asset can be thin.

Latest peaq News

Since its November 2024 mainnet launch, peaq has focused on building out its machine economy stack. In 2026 it announced Initial Machine Offerings in partnership with CoinList (launching May 14, 2026), a framework that tokenizes robots and machines as yield-bearing on-chain assets, and it signed a Memorandum of Understanding with Dubai's Virtual Assets Regulatory Authority (VARA) to help develop a regulatory framework for on-chain robotics and tokenized machines.

The most important thing to watch alongside these developments is token supply. Large investor and contributor allocations continue to unlock through 2026 and 2027, adding sell-side pressure that the network's usage growth must absorb. As with any DePIN or machine-economy project, the long-term case depends on real, paid activity from the machines and applications the chain is meant to serve, so following the peaq blog, docs, and on-chain analytics on Dune is the best way to gauge progress.