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.

Peaq, a layer-1 blockchain, has raised $15 million in a funding round led by Generative Ventures and Borderless Capital to expand its ecosystem of decentralized physical infrastructure (DePIN) networks. DePIN uses blockchain technology and token incentives to build physical infrastructure networks so other projects don't need to buy and run their own equipment, making it a decentralized version of Amazon Web Services or Google Cloud. Peaq currently hosts more than 20 DePIN networks and the funding round comes ahead of the blockchain's mainnet launch and listing of the PEAQ token. Crypto market data provider Messari estimates that DePIN could have a market value of $3.5 trillion by 2028.

RWA protocol peaq announced its integration with Wormhole, connecting the peaq ecosystem with over 30 Web3 networks to facilitate the transfer of funds and liquidity between the peaq ecosystem and other ecosystems such as BNB Chain, Ethereum, Polygon, and more. peaq also plans to launch its mainnet in 2024, further solidifying its position in the wider Web3 space.