We got a look at how the peaq network did in the first few months of 2025, thanks to some research put together by Messari. It seems things were pretty busy over there.
- Peaq network experienced significant growth in Q1 2025, with average daily transactions increasing by 32.5% and average daily active addresses jumping by 256.7%. This surge indicates a growing adoption and engagement within the network.
- The network’s revenue saw a substantial increase of 350.2% for the quarter, reaching approximately $44,300, driven by increased transaction volume and machine activity on-chain. This financial growth highlights the economic potential of the peaq network.
- Despite the positive growth in network activity and revenue, peaq’s market value experienced a considerable decline of 74.1% in Q1 2025. This contrast suggests a disconnect between the network’s fundamental performance and market sentiment during the period.
Average daily transactions went up by a good chunk, about 32.5%. They climbed from around 58,000 a day in the last part of 2024 to over 77,000 a day in the first three months of 2025. This happened because new DePINs (Decentralized Physical Infrastructure Networks) came online, machines started talking to each other more on the network, and they ran some tests for a campaign called Get Real.
And wow, the number of average daily active addresses jumped way up, like 256.7%. It hit over 22,700 in Q1 2025. This shows that people and machines using the network kept coming back. Token rewards and real-world uses seem to be keeping folks sticky, as they say.
Speaking of machines, the average number of new machine addresses created each day went through the roof. It shot up by 789.4%. That’s a lot of new digital identities for things that aren’t human! This was mostly driven by big projects like Teneo and Silencio bringing tons of machines onto the network.
The money the network made from fees also saw a big jump, up 350.2% for the quarter, hitting around $44,300. This is tied to more transactions happening and more machines doing things onchain. Daily revenue even went up a solid 146.6% just between February and March.
Some projects building on peaq also managed to raise money, over $4 million in total across three different ones. XMAQUINA, Teneo, and Combinder got funding from investors and their communities to help them grow their DePIN stuff and get more users.
The whole idea behind peaq started back in 2017. The goal was to mix blockchain tech with everyday devices, creating a special kind of blockchain just for decentralized systems where machines are key players.
This work led to peaq being built as a Layer-1 (L1) blockchain, which is like the base layer for powering these DePINs. They raised $15 million in funding in March 2024 and another $20 million through CoinList in May 2024.
The network officially went live in the middle of November 2024. So, Q1 2025 was the first full three months they were fully running. The network supports DePINs, plus things like DePAI (Decentralized Physical AI), Machine DeFi (decentralized finance for machines), and tokenized Machine RWAs (Real World Assets). By the end of the quarter, 49 different DePIN projects were active on peaq.
Peaq’s setup lets machines get their own digital IDs, handle tiny payments, and interact on their own with apps on the blockchain. The big jump in new machine addresses and the growing revenue are early signs that this is starting to work, as DePINs bring in users and activate economic models based on machines.
Looking at the money side of things, peaq’s market value went down quite a bit in Q1 2025, dropping 74.1% from $347.5 million to $89.8 million. The number of PEAQ tokens available to trade also went up by 14.5%. This was because of tokens given out for campaigns and some early tokens becoming available after a three-month hold period, plus some new tokens created by the network. The price of PEAQ also fell 77.0% over the quarter, from $0.52 to $0.12. By the end of March, peaq was ranked around 344th by market value among all cryptocurrencies.
Even with the price drop, the network generated $44,334 in revenue in Q1 2025. Since it only launched a few months before, this is starting to show a baseline for how much economic activity is happening because of the DePINs. The network is built to handle lots of interactions, especially between machines, and it uses really tiny fees, sometimes as low as $0.00025 per transaction. This helps real-world apps scale up without costing too much. The revenue in Q1 gives an early peek at how much the network is being used and its potential to support value exchange driven by machines.
It’s interesting that the revenue kept going up steadily throughout the quarter. It rose 146.6% from averaging about $288 a day in the first half to over $712 a day in the second half. This growth came from new DePINs joining, more user activity, and programs like the Get Real Campaign, which gave users token rewards for doing things in the real world. While the total amount is still small, it sets an early marker for how the network’s finances could grow as more projects join.
Peaq’s fee system is designed to keep costs low for users and help the network last a long time by using the money strategically. All the transaction fees and some of the newly created tokens go to people who are active on the network and contribute in specific ways, like machines creating value or people providing liquidity (making it easy to trade tokens). This way, people get rewarded based on what they do, which helps keep the community involved and makes sure everyone’s goals are aligned.
Peaq started in November 2024 with 4.2 billion PEAQ tokens in total. It adds new tokens each year at a rate of 3.5%, which is planned to go down by 10% every year until it hits 1%. The network can decide on future changes to this rate. Out of the new tokens created, 40% go to people who help secure the network by staking their tokens, and the other 60% go into treasuries for long-term growth and aren’t available to trade right away. In Q1 2025, about 36.75 million new PEAQ tokens were created. By the end of the quarter, about 14.5% of the total PEAQ supply was available to trade, which was a 68.8% increase from the quarter before. Looking ahead to Q2 2025, another 279.4 million PEAQ tokens, or 6.7% of the total supply, will become available, on top of the new tokens created by the network.
These upcoming tokens becoming available in Q2 2025 include tokens for early investors (about 31.8% of the Q2 unlocks), the community (a big chunk, 59.8%), network security (2.7%), and the ecosystem/treasury (0.7%). Plus, about 14.7 million new tokens will be created from the network’s emissions, adding more tokens to the market and helping pay for ongoing participation rewards.
Let’s talk about how the network is being used. In Q1 2025, peaq saw that big jump in average daily active addresses we mentioned earlier, up 256.7%. That’s human and machine addresses combined. And the average daily transactions went up 32.5%.
The number of new addresses being created each day also went up a lot. New human addresses increased by 450.3% daily, and new machine addresses, well, we saw that massive 789.4% increase. They went from about 2,600 a day to over 23,600 a day. Isn’t that wild? Machines getting their own wallets and identities!
This big growth in active addresses and transactions in Q1 2025 suggests the network is moving past just launching and is starting to really expand its ecosystem. Q1 was the first full quarter of activity after the tokens were first made available and the network went live.
A major reason for all these new human and machine addresses in Q1 was more DePIN apps joining and bringing users and devices with them. Projects like Silencio, Teneo, Dats, MapMetrics, SkyX, and Kaisar Network launched their apps and deployed devices that needed to register identities and create activity on the blockchain. These uses, where machines are central, directly led to the sharp rise in new addresses. Growth got even faster when the Get Real Campaign Beta started in February. It gave out token rewards and set up fun tasks across over 15 DePIN projects, plus some of the first project tokens launched and staking options became available.
For security, peaq uses a system called Nominated Proof-of-Stake (NPoS). It’s similar to what Polkadot uses. In this system, special network participants called validators are chosen based on how many tokens are put behind them, either by themselves or by other token holders who trust them (delegators). This setup helps keep the network decentralized and makes sure validators and token holders have similar goals.
Peaq’s token system is designed so that the rate at which new tokens are created goes down over time. It starts at 3.5% a year and decreases by 10% each year until it settles at 1%. As we said, 40% of these new tokens go to staking rewards for validators and delegators, and the other 60% go to network treasuries for long-term growth and aren’t put into circulation right away.
As of March 31, 2025, 48 validators were actively securing peaq, and 1.75 billion PEAQ tokens were staked, which is about 41.2% of the total tokens created so far. Back in January 2025, peaq increased the number of active validators allowed from 32 to 42 through a network update. That same update also let more people (up to 48 per validator) delegate their tokens, allowed validators to set flexible fees, and changed how rewards are given out so it’s based on network sessions rather than every single block. These changes made it easier for people to stake, helped with decentralization, and made things run smoother. Validators are chosen based on how much stake they have, and rewards are split between validators and the people who delegated to them. The number of active validators was increased to 48 during Q1 2025.
People who want to be validators have to meet certain technical requirements, like keeping their systems running well. Peaq picks validators based on the amount of stake they have, and they can be removed if they don’t perform well. The network is supposed to have a way to penalize validators for bad behavior, like being offline or doing something harmful, to make sure everyone plays fair. But, as of May 1, 2025, this penalty system isn’t fully in place yet.
Looking at the whole ecosystem, peaq kept building out its Machine Economy network in Q1 2025. This includes DePINs, DePAI (Decentralized Physical AI), Machine DeFi, and Machine RWAs. These are the building blocks for apps where machines and people work together using services on the blockchain that are tied to real things in the world.
By the end of Q1 2025, 49 DePINs had joined the peaq family, covering 21 different areas. Three new ones joined just in Q1 2025:
AquaSave – a project focused on saving water that moved over from another network called Solana.
BigWater – a project that sets up air purifiers and gets clean water to communities that need it.
Wagoi – a project about connected cars that gives drivers control over their car data.
Peaq helps developers build things easily with a set of tools they can use. These tools include things for machine IDs, payments, controlling who can access what, checking data, and making sure things are timed right. Developers can add these features to their apps with just a little bit of code, making it faster and simpler to build.
A big reason for peaq’s growth in network activity in Q1 2025 was how quickly devices and machine identities were added as the ecosystem started really getting going. Teneo added a massive 1.36 million new devices. Silencio brought in 707,000 new addresses, mostly through their phone app. Other projects also added to the growth, like:
Dats – a decentralized cybersecurity network.
MapMetrics – a navigation DePIN that collects real-time location data.
Farmsent – connects farmers to blockchain-based supply chains.
Combinder – a decentralized virtual power plant that brings together distributed energy sources.
In January 2025, PEAQ tokens were listed on two crypto exchanges, Bithumb and Bitpanda. This made it easier for more people to buy and sell PEAQ and helped more people learn about the network. That same month, Silencio became the first DePIN to launch its own token on peaq. They rewarded users with SLC tokens for sharing data about noise pollution in their area. On the same day, Bistroo, a food ordering platform, moved a quarter of their BIST tokens from Ethereum to peaq. This showed they were confident the network could handle real businesses and token incentives.
Teams building on peaq also raised over $4 million during the quarter to help them develop, build their infrastructure, and get more users. These steps show that peaq is moving past its initial launch and starting to see real economic activity on the network. Projects are starting to use tokens and connect what machines do in the real world with programmable financial tools. Other things that happened in Q1 2025 include integrating with analytics platforms like Token Terminal and QuickNode, which helps people see what’s happening on the network and makes it easier for developers.
Peaq’s money system is set up so that machines can eventually be direct players in economic systems. In Q1, peaq started building the foundation for Machine DeFi and Machine RWAs. This means setting up the technical stuff needed to support financial interactions linked to the value machines create.
Machine DeFi is a new idea where machines could eventually make transactions on their own with decentralized finance protocols, using data from their activity on the blockchain. Imagine machines borrowing money based on the revenue they earn, or payments flowing automatically between machine agents, or even decentralized groups (DAOs) managing subsidy programs for machines. These are big ideas for the future, but peaq’s network upgrades and tools are being built to support these kinds of interactions as they become possible.
A key part of this vision is Machine RWAs. These are machines themselves, or the rights to use their services or what they produce, represented as assets on the blockchain. This model could let people who hold these tokens earn money from how well the machine performs. It also lets machines interact with DeFi protocols using data that can be verified as real. As of this report, no Machine RWAs are actually running on peaq yet, but the basic setup for creating tokens, giving them identities, and handling payments is now ready.
A big step towards these future applications happened in Q1 2025 when USDT, a popular stablecoin, became available on peaq through an integration called Stargate’s Hydra. USDT gives DePINs and future Machine DeFi protocols a stable way to exchange value. By pricing services and making transactions with a stable value, machines and the people using them get predictability, which is really important for financial coordination and getting people to use the network.
While Machine DeFi on peaq is still mostly in the planning and building phase, the pieces are starting to fit together. As DePINs start making money, creating assets you can stake, and generating data from machines, new ways to capture value and coordinate finances might appear. Looking ahead, rolling out versions 1 and 2 of the Machine DeFi suite is a major focus for peaq in Q2 and Q3 2025. They plan to launch what they call the world’s first DEX (decentralized exchange) for the Machine Economy, a place to launch new DePIN projects, a system for Machine RWAs, a native stablecoin, and money markets specifically for machines. These planned developments are meant to turn peaq’s early work into a fully working financial layer for the Machine Economy.
Beyond just the money side, the next step is giving these machines the smarts to work on their own. This is where Decentralized Physical AI (DePAI) comes in. As systems that can act independently take on more jobs in different areas, their ability to interact, make decisions, and handle transactions on the blockchain becomes super important. This shift is starting to happen with DePAI, which combines robots, AI that can act on its own, and Web3 infrastructure into a new part of the Machine Economy.
DePAI has seven main parts: Hardware (robots that interact with the real world), Software (AI models running on those robots), Data (helps the AI learn), Spatial Intelligence (helps robots understand the physical world), Infrastructure Networks (provide things like storage and computing power), a Machine Economy (brings together protocols so DePINs, AI, and robots can work together), and DAOs (Decentralized Autonomous Organizations) which let people, communities, and businesses own and earn from DePAIs.
On peaq, projects like Silencio, SkyX, and Teneo provide important sensor data. Tools like Universal Machine Time (UMT) help make sure everything is timed correctly. For managing and funding, there’s the XMAQUINA DAO, a decentralized group focused on funding and guiding the development of robots and Physical AI. Built on peaq, XMAQUINA uses integrations with other tools and smart contracts to create a clear system for coordinating machine infrastructure. This model lets communities co-own, co-manage, and benefit from DePAI applications built on peaq.
These different parts are forming the base for machines to operate independently, create value, and work together with other agents on the blockchain. While DePAI is still very new, peaq has started putting together the necessary infrastructure, from machine identity and timing tools to data feeds and decentralized governance. DePAI is set to become a core part of the Machine Economy as these systems get more advanced, allowing smart machines to interact directly with decentralized apps and financial protocols.
The peaq ecosystem kept growing in Q1 2025, attracting new DePINs that added to the variety of projects. These projects use peaq’s tools to bring devices online, set up incentives, and connect what machines do to value on the blockchain. From projects focused on clean water and air to connected cars, the projects that joined this quarter show how peaq is becoming a foundation for real-world applications in many different areas.
AquaSave, for example, moved from Solana to join peaq in Q1. They’re a DePIN focused on water sustainability. They use smart devices that capture and reuse warm water from things like washing machines, which saves water and energy. Users get rewards for sharing data about how much water they save through these devices. It’s a neat way to link Web3 incentives with making a real difference in the world.
AquaSave even partnered with the government in the Balearic Islands for regional deployment and has support from a company called Wilo for distributing their devices internationally. They plan to launch their own token on peaq, use peaq IDs for their devices, and use peaq’s infrastructure for their onchain reward and data sharing systems.
BigWater also joined the peaq ecosystem in Q1. They’re tackling air pollution and access to clean water. They deploy air purifiers that filter the air and trigger efforts to distribute water. For every BigWater device brought online, they deliver 1,000 liters of clean water to communities that don’t have easy access. These actions are tracked and verified on the blockchain, connecting real environmental impact with blockchain rewards.
BigWater uses peaq IDs to confirm the identity of their air purifiers and water sensors. They rely on peaq’s modular DePIN functions to manage machine identity, make sure data is correct, and handle token rewards. Peaq’s low transaction costs help make it easy for machines to interact with the network frequently, and data hashing helps keep the records transparent. BigWater also partnered with JanaJal, a group that provides safe drinking water to lots of people in Asia.
BigWater will launch their token, BWT, on peaq and become part of the network of DePIN apps. Their approach mixes helping the environment with participating in Web3 by rewarding users for putting real-world infrastructure in place that directly improves air quality and access to clean water.
WAGOI also joined peaq in Q1 with a goal to give drivers back control of the data their cars create. As a DePIN focused on mobility, WAGOI lets users connect their vehicles and decide if and how their driving data is shared with others. In return, drivers can earn rewards without needing to install any extra hardware. Instead of car companies making money off this data, WAGOI shifts the value back to the individual. It turns everyday driving into something that can earn you perks and benefits.
On peaq, WAGOI gives connected cars unique machine identities using peaq IDs. This lets users collect and control their driving data, which they can then exchange for tokens on WAGOI’s data marketplace. The project’s reward system uses smart contracts and takes advantage of peaq’s low-cost microtransactions to handle the frequent, machine-triggered value exchanges.
Projects building on peaq also got external funding in Q1 2025, which shows that investors are becoming more confident in the Machine Economy idea. These funding rounds are helping DePINs build out their real-world infrastructure, launch their tokens, and get more users. Getting early financial support also signals that projects building on peaq are attracting interest from both big investors and the community as they get ready for long-term deployment.
XMAQUINA DAO, for instance, launched and quickly sold out the first part of its DEUS Genesis Auction in Q1 2025, raising $900,000 from over 1,000 people. This auction was a big step in decentralizing robotics and physical AI by getting funding from the community instead of just venture capital firms.
Teneo Protocol raised $3 million in a funding round led by RockawayX and Borderless Capital. With over 3.9 million users already, the project is expanding its data infrastructure and getting ready to launch its token. Teneo will use peaq for verifying data, managing identities, and handling rewards.
Combinder secured $500,000 in early funding at a $10 million valuation. The round was led by Outlier Ventures, 1kx, Moonrock Capital, and MN Capital. This funding will help Combinder expand its virtual power plant globally and develop its tools for developers. Combinder rewards users who connect their distributed energy resources and share data about how they’re being used. The project is building its infrastructure on peaq.
Peaq’s plans for Q2 and Q3 2025 are focused on making the network’s infrastructure bigger, expanding Machine DeFi, and getting more developers and users involved. These steps are designed to move the Machine Economy from its early phase into wider use and more advanced technology.
Q2 2025 includes things like Machine DeFi Suite v2, introducing Machine RWAs, launching a stablecoin specifically for peaq, and developing money markets for machines. They also aim for much faster transaction speeds and block times on the main network and plan upgrades to how chain fees work. Plus, they want to make things much better for developers and publish a detailed paper about the network.
Q3 2025 continues this with more Machine DeFi Suite developments.
So, during Q1 2025, peaq’s market value and token price went down while the number of tokens available increased. But even with that, the network was used a lot more across key measures. Average daily active addresses more than tripled, and average daily transactions went up significantly. And that huge jump in new machine addresses, led by projects like Teneo and Silencio, was pretty remarkable.
Q1 was the first full quarter after peaq launched, and we’re seeing early signs of activity on the blockchain. Silencio launched the first token specifically for a DePIN on peaq, and Bistroo moved some of its token supply over. Getting USDT on the network provided a stable way to trade, helping build the early Machine DeFi infrastructure. Meanwhile, DePAI started gaining traction with data from machine projects and the launch of XMAQUINA DAO.
Peaq’s easy-to-use tools for developers, improvements to staking, and integrations with platforms like QuickNode and Token Terminal made it easier for builders to work on the network and see what was happening. Over $4 million was raised by three DePINs in the ecosystem, and the network kept adding projects in new areas like water, energy, and cars. With over 49 DePINs now building on peaq in 21 different sectors, peaq heads into Q2 2025 with the basic setup ready to support autonomous machines, economic coordination, and physical infrastructure owned by the community on a large scale.
