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peaq Connects with Over 30 Web3 Ecosystems: Unlocks Billions in Liquidity

source-logo  blockster.com 23 January 2024 15:16, UTC

Blockchain innovator peaq takes a major leap in expanding its Web3 connectivity by announcing its integration with Wormhole, a leading blockchain interoperability protocol. This groundbreaking move establishes a cross-chain bridge connecting peaq with over 30 Web3 ecosystems, including Ethereum, BNB Chain, Polygon, and more, unlocking a combined liquidity in the billions.

The integration facilitates the seamless transfer of value and liquidity between peaq, known for its decentralized physical infrastructure networks (DePINs), and a diverse range of ecosystems.

Ethereum, Solana, Fantom, and other network users can now bring their liquidity to peaq, participate in DePINs, and earn rewards from the myriad of devices generating real-world value on the peaq network.

In a bold move against the Web2 mindset of walled-off ecosystems, peaq champions the ethos of open, multi-chain Web3. Having previously integrated core functions with Solana and Cosmos, the Wormhole integration marks a significant step forward.

The live integration on peaq’s testnet, agung, serves as the first outbound blockchain bridge, with plans to link the mainnet to the broader Web3 space upon its launch in 2024.

This collaboration, facilitated through Moonbeam, not only enables the movement of assets between peaq and Wormhole-connected blockchains but also strengthens peaq's commitment to openness and innovation in the Web3 landscape.

By connecting machines in DePINs and dApps on peaq with vast Web3 liquidity, the integration streamlines asset movement and enhances the overall experience for developers and users alike.

“We are excited to see peaq join the largest Web3 cross-chain connectivity platform,” says Robinson Burkey, CCO at Wormhole.
“Real-world adoption is one of the biggest challenges for Web3, and peaq’s focus on DePINs places it at the forefront.”

Robinson Burkey, CCO at Wormhole
“Smooth cross-chain communication and liquidity flow is crucial for Web3’s future,” says Till Wendler, co-founder of peaq. “It unlocks more value and opportunities for everyone in a positive-sum game, making for a great foundation for its push into the real world."

"peaq’s integration with Wormhole brings a lot of value into the ecosystem and makes it exponentially more open and versatile.”

About peaq

peaq is a blockchain designed for real-world applications, empowering users to build decentralized applications (dApps) and Decentralized Physical Infrastructure Networks (DePINs).

By co-creating solutions with industry consortia, such as Gaia-x moveID, peaq is at the forefront of revolutionizing smart mobility, energy, and connectivity. The platform democratizes abundance by enabling users to own, govern, and earn from the devices and infrastructure they use.

For more information, visit peaq, follow peaq on Twitter for updates, and join the conversation on Discord.