Blockchain innovator peaq is taking a big step in expanding its Web3 connectivity by announcing its integration with Wormhole, a leading blockchain interoperability protocol. This groundbreaking move creates a cross-chain bridge connecting Peaq to more than 30 Web3 ecosystems, including Ethereum, BNB Chain, Polygon and more, unlocking combined liquidity in the billions.
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The integration facilitates the seamless transfer of value and liquidity between peaq, known for its decentralized physical infrastructure networks (DePINs), and a wide 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 countless devices that generate real value on the peaq network.
In a bold move against the Web2 mentality of walled ecosystems, peaq champions the ethos of open, multi-chain Web3. Having previously integrated core features 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 at launch in 2024.
This collaboration, facilitated by Moonbeam, not only enables the movement of assets between peaq and Wormhole-connected blockchains, but also reinforces peaq’s commitment to openness and innovation in the Web3 landscape.
By connecting machines in DePINs and dApps on Peaq with massive Web3 liquidity, the integration streamlines asset movement and improves the overall experience for both developers and users.
“We are excited to see peaq join the largest Web3 cross-chain connectivity platform,” said Robinson Burkey, CCO at Wormhole.
“Real-world adoption is one of the biggest challenges facing Web3, and peaq’s focus on DePINs brings this to the forefront.”
Robinson Burkey, CCO at Wormhole
“Smooth communication across the chain and a smooth liquidity flow are crucial for the future of Web3,” said Till Wendler, co-founder of peaq. “It unlocks more value and opportunity for everyone in a positive-sum game, which provides a great foundation for its push into the real world.”
“The integration of peaq with Wormhole adds a lot of value to the ecosystem and makes it exponentially more open and versatile.”
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About peak
peaq is a blockchain designed for real-world applications, allowing users to build decentralized applications (dApps) and decentralized physical infrastructure networks (DePINs).
By co-creating solutions with industrial consortia, such as Gaia-x moveID, peaq is at the forefront of revolutionizing smart mobility, energy and connectivity. The platform democratizes abundance by allowing users to own, control, and monetize the devices and infrastructure they use.
For more information, visit peaq, follow peaq on Twitter for updates, and join the conversation on Discord.