Is the Economy of Things here? At least two Web3 companies think so.
peaq, the decentralized Web3 network powering the Economy of Things (EoT), and AllianceBlock, an end-to-end decentralized finance solutions provider, have announced a partnership centering on their acceleration into Web3. The partnership will see peaq utilize AllianceBlock’s end-to-end decentralized infrastructure in order to enhance the capabilities of the network’s economic mechanisms, accelerating the creation of the Web3 machine economy.
peaq is a purpose-built blockchain network for the EoT, enabling the secure, fast and frictionless transfer of value and data between machines and their users. peaq empowers individuals, enterprises and governments to build, earn and govern on the network via EoT dApps. Leveraging AllianceBlock’s end-to-end DeFi infrastructure will support the growth of these dApps and projects, unlocking liquidity, scalability, and interoperability on a new scale. The partnership will include:
Liquidity and interoperability: The integration of AllianceBlock’s Liquidity-Mining-as-a-Service (LMaaS) product into the
peaq network, providing peaq with easy access to generate liquidity for the decentralized applications operating on its network.
This will further be accelerated by the AllianceBlock Bridge and the Cross-Messaging Protocol, which will improve peaq’s interoperability and asset transferability with other Polkadot parachains and other major networks.
Funding and exchange: The launch of AllianceBlock Fundrs, a peer-to-peer funding platform based on reputation and merit, and AllianceBlock DEX, its decentralized exchange, on the peaq network. AllianceBlock DEX is a brand new automated market maker which minimizes impermanent loss in both uptrend and downtrend markets creating a safer, lower risk environment.
dApps on the peaq network will be in a position to leverage these cutting edge DeFi products for new financing opportunities, helping them secure the capital they need to develop their technology and business.
Community development: The collaborative development of AllianceBlock’s products and services, allowing both communities to participate in each other’s offerings. This will be achieved through combined research and development initiatives. In particular, the two will coordinate to enhance the capabilities of peaq’s tokenomics.
Identity: Both parties will also commit to collaborative development of decentralized identity solutions to explore what integrations could occur between peaq’s self-sovereign machine ID, peaq ID, and AllianceBlock’s Trustless Identity Verification (TIDV).
Till Wendler, CEO of peaq, said: “Together, we are working with AllianceBlock to solve some of the biggest societal and economic challenges the world faces, enabling communities to benefit from advancements in technology and automation. The integration of AllianceBlock’s DeFi product suite to the peaq network will allow us to leverage their advanced technology, continue to build the machine economy, and revolutionize how machines are owned and used.”
Rachid Ajaja, CEO and Founder of AllianceBlock, said: “DeFi will play a key role in helping the EoT realize its vision. AllianceBlock’s integration with peaq provides a plethora of opportunities. It showcases how security, compliance, and UX can be enhanced through DeFi-enabled financial products on real, future-focused platforms. peaq’s tangible use of tokenized financial assets and NFTs illustrates the true potential that the expansion of the EoT into Web3 presents. We’re really excited to help the peaq network and community benefit accelerate innovation and unlock new opportunities through our unique product suite.”