The Future Of DePIN & Staking Your PEAQ Tokens

B1HC...QpyA

18 Nov 2024

A Long-Term HODL
The Peaq Network is a Polkadot parachain dedicated to the DePIN sector, which I have addressed extensively in 2024. The machine economy is set to be a dominant player now and in the future. The passive income opportunities within this particular niche are unparalleled, making it the obvious choice for Crypto enthusiasts. Many are primarily drawn to the Crypto space for its passive income.
Traditional models such as staking and other DeFi opportunities are often the first stop. However, DePIN provides opportunities that are void of investment capital. This is a gamechanger, and perhaps a little like SoFi, regarding the ease of access and zero capital requirements. Free-to-access DePIN models are capped to some degree. It’s not as if one can become wealthy running and operating multiple nodes and dApps.
Of course, there are ways to maximize earnings, such as referral networks and running multiple nodes on multiple devices. Because DePIN is modeled to gain access to devices, many opportunities do not restrict the number of devices that can be utilized. It’s not like an earning platform that will restrict users to a single account. Hyperas Chain and the Salala dApp are good examples of this.
You can add as many devices as you like to your network to multiply your earnings. Use the code: 3a5401d6fb39 when downloading Salala. Nodle is another great little dApp that enables the running of multiple nodes. The Peaq Network, on the other hand, houses 38 DePINs and is likely to experience significant growth as many of the projects built on top of it go to market.
A Powerful Dynamic
Another very important aspect to consider regarding Peaq is that many of the projects built on Peaq are yet to launch tokens, and as a result have a zero valuation regarding market cap. What this means is that when these projects go to market, they will instantaneously accredit value to their market cap as well as the Peaq ecosystem. This will affect the price of PEAQ on an ongoing basis.
Essentially, this makes PEAQ a long-term HODL, and staking is one of the best ways to maximize a HODL position. I suggest going to PEAQ on CoinGecko, following the link to the Official Peak Network website, entering the portal, and selecting staking. Here you will find access to various validators with varying reward structures. Remember, staking does incur some risk. However, in an actual on-chain staking model like this, the user maintains control of their private keys.

Image Source

Staking on Binance or via a third-party service will result in the user surrendering control of their private keys. Validators often adjust the qualifying criteria, and as a result, stakers can experience a halt in rewards until such a time as they adjust their position. It could be compared to going out of range regarding a DeFi LP position. Being in the Polkadot ecosystem, PEAQ is available on the Nova Wallet.
I expect Nova to incorporate staking for PEAQ in the not-too-distant future. If Nova sets up a pool, it will be a lot more user-friendly with a low minimum stake required. I would rather wait for such an opportunity. Validators can often force stakers to micro-manage their positions. For example, staking DOT via the Nova pool requires a minimum stake of 1 DOT. Once delegated, zero maintenance is required.

Free Avalanche (NEW)

Final Thoughts
The DePIN sector is likely to birth a plethora of new projects. Many of these new projects are likely to be built on Peaq. Having a decent PEAQ position is one way to gain exposure to the DePIN sector while simultaneously earning passive income in the form of staking rewards. Have a great week and I will see you next time!

Earn Free LEO & HIVE

Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.