Peaq Partners with Wormhole to Enhance Cross-Chain Liquidity Across Web3 Platforms

Harnessing Blockchain for Real-World Usage peaq Today, peaq has announced its first integration of a cross-chain bridge with Wormhole, a protocol focused on interoperability. This move connects the peaq ecosystem with more than 30 other platforms, blockchain This connection allows peaq’s technologies, which provide tangible value through solar energy systems and drone logistics, to tap into liquidity from a global array of over 30 different Web3 networks. Web3 networks \"The new integration links machines on the peaq platform, which generate real-world value through various decentralized physical infrastructure networks (DePINs), to billions in global Web3 liquidity. This is set to significantly boost Machine DeFi within peaq, enabling individuals around the world to channel funds into community-established machines that deliver value—like solar panels, wind turbines, and drones—and support rapid scaling while earning rewards,\" shared a co-founder of peaq with Metaverse Post. BNB Chain , Ethereum, Polygon and others.

Now, liquidity from platforms like Fantom can be redirected to peaq, allowing participation in decentralized physical infrastructure networks (DePINs) within its ecosystem, and providing users with opportunities to profit from devices that create real-world value.

This initiative effectively breaks away from the constraints faced by standalone blockchains, bolstering the multi-chain vision of Web3. Till Wendler Current Projects and Future Plans of Peaq

Further, users of Ethereum, Solana Previously, Peaq had integrated essential functions with Solana and Cosmos. The integration with Wormhole represents a natural progression, establishing the first bridge for moving assets across different chains within the peaq ecosystem.

Currently, this integration is running on peaq's test network known as Agung, marking the first outward-facing blockchain bridge. In the future, peaq aims to launch its mainnet in 2024, further enhancing this bridge’s capabilities to connect with the broader blockchain landscape.

"So far, the bridge's performance has been impressive – assets have already been successfully transferred between Agung and Ethereum Goerli, as well as Fantom,\" Wendler from Peaq remarked. \"Once the peaq mainnet is launched, this bridge will serve as a portal to the expansive Web3 universe, facilitating connections with numerous other networks and communities.\"

The technical details of this integration involve utilizing Moonbeam, which assists in asset transfers between the peaq ecosystem and all blockchain networks linked with Wormhole.

Additionally, this integration will streamline the experience for developers looking to transition to or expand within the peaq ecosystem on layer-1 blockchains. Web3 space .

Developers can utilize peaq’s core features, such as independent Machine IDs and role-specific access controls.

"Peaq brings forward multiple advantages including multi-chain peaq IDs, role-based access management, scalability, decentralization, sustainability, security, speed, and cost efficiency. The network lays a solid foundation for DePINs and provides further support via grants and ecosystem services,\" peaq’s co-founder Till Wendler noted to Metaverse Post.

With an emphasis on enhancing user experience, this integration aims to provide a smoother interaction for participants of DePINs across various ecosystems. Developers Peaq Wormhole Cross-Chain Liquidity

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