Peaq’s Agung testnet becomes the first chain on the Polkadot ecosystem project to integrate with Fundrs. Peaq allows cross-chain liquidity to the entire community.
Peaq is a decentralized Web3 network that powers the Economy of Things (EoT). It is a Berlin-based blockchain company that offers decentralized infrastructure and tools to developers and users of decentralized applications, or dapps, for machines. On the other hand, AllianceBlock is an end-to-end decentralized finance solution provider that bridges the gap between decentralized finance (DeFi) and traditional finance by solving issues in both industries. Today, the Peaq network further expands its significance as it integrates with AllianceBlock’s Fundrs platform for cross-chain peer-to-peer fundraising for dApp builders to bolster the Polkadot community.
Peaq’s Mission To Put The Economy Of Things (EoT) On Web3 Rails
Today, the Web3 network, Peaq, announced its integration with the Fundrs platform to open access to cross-chain liquidity and fundraising for dApp builders. Fundrs is a decentralized fundraising platform launched by AllianceBlock. Fundrs will now enable developers to build decentralized applications (dApps) on the Peaq network to raise funds on a cross-chain platform based on reputation and merit.
This integration comes up after an existing partnership between Peaq and AllianceBlock. Peaq is the first project on the Polkadot ecosystem to integrate with Fundrs, enabling the Polkadot community access to its contributor community, extending across leading layer-1 blockchains with colossal market caps counting in billions. The integration kicks off with Peaq’s Agung testnet, which is now live on Fundrs App. Users will be able to add Agung to their Metamask wallet. In the future, the integration will be available to Peaq’s mainnet when it goes live. It will allow the Fundrs community to stretch their helping hands to projects geared toward decentralizing real-world services.
Regarding the integration, Till Wendler, Co-Founder of Peaq, said, “We are delighted to be the first member of the Polkadot ecosystem to integrate with Fundrs, enabling the community to leverage the vast liquidity this platform brings to the table. The integration continues a strong partnership between Peaq and AllianceBlock, which was forged to power the Web3 Economy of Things using DeFi. Fundrs grants new capital-raising opportunities to teams building on Peaq, helping them aim higher and innovate faster. In the long-term, the continued integration of AllianceBlock’s stack will help Peaq to revolutionize how people own and govern machines. There are more integrations to come from this partnership, which we’re excited to share in the future.”
Fundrs Broadens Peaq’s Web3 Plans
At the time of launch, Fundrs was live on Avalanche and Ethereum network, and it is expected to acquire more integrations which are set to be announced soon. Fundrs aims to support the entire blockchain community. It plans to bring a revolution in Web3 finance and foster cross-chain communication and funding, fetching the blockchain experts together to develop and grow. It has made partnerships with leading DLT players like Ocean Protocol, BNB Chain, Hedera, and Polygon. It is also backed up by experts in tech and banking, including Natwest, AWS Activate, and the London Stock Exchange Group.
Elaborating on the integration, Rachid Ajaja, CEO and Co-founder of AllianceBlock, stated, “We are looking forward to seeing the Peaq community list its first projects on the Fundrs dApp. Economy of Things projects aim at tangible, real-world processes and services, which contributors using Fundrs will likely appreciate a lot. Besides that, the integration will also work as our first bridge with the wider Polkadot ecosystem, enabling hundreds of leading Web3 projects to fund-raise across the entire blockchain space.”
Peaq’s decentralized Economy Of Things (EoT) empowers machines to benefit society. Peaq allows companies to build decentralized solutions that facilitate machines to execute problems, save resources, and support people. It is expected that AllanceBlock’s end-to-end infrastructure will enhance and expand the capabilities of Peaq’s economic mechanisms by accelerating Peaq’s creation of the Web3 machine economy.
