The PEAQ Token
The peaq token (PEAQ) powers the peaq network. PEAQ is designed to align the incentives of all network participants and therefore desirable behavior on the peaq network in order to create a robust, decentralized system. It comes with three major use cases:

1) Network Functionality

Transaction Fees
Transaction fees prevent spamming attacks and provide incentives to all network participants. They are needed to incentivize validators but are also used to incentivize network participants to add machines to the network. A percentage of each transaction fee that a machine pays when offering goods & services gets invested via yield farming and staking in the Web3 ecosystem and then returned to stakeholders and the machines themselves. This can be compared to paying taxes in a regular economy and serves to achieve financial sustainability.
Smart Contracts
Smart contracts on the peaq network come with fees, so their execution requires PEAQ tokens. This makes PEAQ tokens vital to execute any form of business logic autonomously while preserving trust.
Staking Rewards
The PEAQ token is used to reward nodes that validate and secure the network with the peaq network’s consensus mechanism.

2) Decentralized Ownership

Decentralized Machine Ownership using NFTs
DeFi mechanisms will allow investors to own and profit from a piece of the machine economy as a whole or own and profit from pools of machines.
Turning Machines into Yield Farmers
Using novel DeFi mechanisms, the PEAQ token allows machines to become yield farming investors, investing their own operational revenues.
Subsidize new Machines and their SSIs Subsidized new Machines and their SSIs
The PEAQ token gets used to subsidize machine owners to add their machines with an SSI to the network using Decentralized Ownership mechanisms.

3) Value Exchange

The PEAQ token makes any form of value exchange involving machines possible. Network users or machines can conduct peer-to-peer transactions and offer services in exchange for PEAQ tokens. This can be the M2M/person/org/X exchange of any form of value.
Token Metrics:
PEAQ. The peaq token can found on coinmarketcap and coingecko. Total Supply: The total number of tokens is 4,200,000,000 tokens.
Last modified 1mo ago