LBank Labs announced its investment in the DePIN Layer1 protocol Peaq. Peaq provides a wide range of modular DePIN functionalities, equipped with the basic core functions of DePIN and dApp, enabling devices and machines to trade and interact with each other autonomously. The protocol is expected to launch its mainnet in May, and also plans an incentive program aimed at supporting the development and adoption of DePIN on Peaq, including gamified challenges that offer rewards for participants.

This round of financing also involves the participation of well-known venture capital firms such as Borderless Capital, Generative Venture, Spartan Group, and CMCC Global.