peaq network（PEAQ）代币经济学

Overview

Peaq is a Layer 1 blockchain designed for Decentralized Physical Infrastructure Networks (DePINs), with its native token, PEAQ, serving as the backbone for network operations, incentives, and governance. The tokenomics are structured to balance early ecosystem growth, long-term sustainability, and robust community and developer engagement.

Issuance Mechanism

• Disinflationary Model: PEAQ operates under a disinflationary issuance schedule. The initial inflation rate is 3.5% per year, decreasing by 10% annually until it stabilizes at 1% after 12 years. This model is designed to incentivize early adopters and gradually transition to a stable supply as the network matures.
• Token Minting and Distribution: Of the newly minted tokens, 40% are distributed as staking rewards to validators and delegators, while 60% are allocated to non-circulating treasury reserves for long-term ecosystem development.

Allocation Mechanism

The initial maximum supply is 4.2 billion PEAQ tokens. The allocation is diversified across stakeholders to ensure broad participation and ecosystem resilience.

Usage and Incentive Mechanism

• Transaction Fees: PEAQ is the native currency for transaction fees, ensuring network security and incentivizing validators.
• Staking: Token holders can stake PEAQ to support validator nodes or delegate to preferred validators. As of Q1 2025, 41.2% of total issuance was staked, indicating strong community engagement.
• Governance: PEAQ will play a central role in on-chain governance, granting holders voting rights on network upgrades, economic policies, and ecosystem grants.
• Machine Reputation and DePIN Incentives: In the future, PEAQ will be staked on machines/devices as a reputation mechanism. If a machine fails, the staked tokens can be slashed.
• Ecosystem Growth: Grants and community campaigns are funded to incentivize developers and users to build and participate in the ecosystem.
• Machine DeFi and Tokenization: PEAQ will enable tokenization of physical machines, allowing for fractional revenue sharing and new DeFi use cases.

Locking and Vesting Mechanisms

• Cliff: No tokens are released until the cliff period ends, after which linear vesting begins.
• Linear Vesting: Tokens are released in equal installments over the vesting period.
• Instant Unlocks: Some allocations (e.g., community sales, grants) are unlocked immediately or after a short cliff.

Unlocking Timeline

• Start: Unlocking began with the mainnet launch on November 12, 2024.
• Major Unlocks: Significant unlocks occur in Q2 and Q3 2025, with ~294M and ~327M tokens entering circulation, respectively.
• Vesting Completion: Most allocations complete vesting between 2027 and 2028, with the supply curve flattening as the ecosystem matures.

Token Unlock Table (Sample)

Additional Mechanisms

• Slashing: Misbehaving validators or machines can have their staked tokens slashed, reinforcing honest participation.
• Treasury Allocations: Non-circulating tokens are reserved for future ecosystem development, grants, and security.
• Performance-Based Rewards: Transaction fees and newly minted tokens are distributed to participants based on their contributions (e.g., value created by machines, liquidity provision).

Implications and Analysis

• Early Incentives: The front-loaded inflation and vesting schedules are designed to bootstrap network security and ecosystem growth.
• Long-Term Alignment: Extended vesting and cliffs for core contributors and labs ensure sustained commitment.
• Community Focus: A large share of tokens is allocated to community campaigns and security, promoting decentralization and adoption.
• Machine Economy: Unique mechanisms like machine staking and tokenized machine DeFi position peaq as a leader in the DePIN and IoT blockchain space.
• Governance Flexibility: On-chain governance allows for future adjustments to tokenomics, ensuring adaptability as the network evolves.

Conclusion

Peaq’s token economics are carefully engineered to balance immediate network needs with long-term sustainability, incentivizing a wide range of stakeholders while supporting the growth of a decentralized machine economy. The combination of disinflationary issuance, robust allocation and vesting schedules, and innovative usage mechanisms positions PEAQ as a foundational asset for the emerging DePIN sector.