Fundrs’ Latest Seeker krest Spearheads the Future of Web3 in Smart Devices

Momentum is building this year for AllianceBlock’s Fundrs, a fully decentralized peer-to-peer funding protocol based on reputation and merit. Fundrs’ overarching mission is to build an inclusive, transparent, and decentralized platform that enables Funders (capital providers) to play a role in the lifecycle of the Seekers (startups raising capital).

Since its launch, the platform has hosted several successful raises for ambitious businesses with innovative and inclusive missions. These Seekers include dua.com’s $DUA Token, FLUUS and its $FLUUS Token, which sold out in four hours, and the upcoming Arbitrum-based Galileo Protocol and their $LEOX Token.

Today, AllianceBlock is thrilled to introduce the latest Seeker to raise capital on Fundrs — krest network. krest is the canary chain of peaq, the Web3 network powering the Economy of Things (EoT), and the world’s first and only EoT simulation hub. As such, it fosters socio-economic, technical, community and governance innovation in the peaq ecosystem.

krest is the testing ground for developing new technologies that will serve as the foundation for testing and experimenting with Web3 applications that enable various EoT services. By collaborating with industry giants like Bosch, Airbus, Ocean Protocol, and Fetch.ai, as well as other top players in the field, peaq and its canary network krest are also working towards building the future of mobility through their involvement in the Gaia-X 4 Future Mobility moveID project.

In this deep dive article, we will explore the unique features, value proposition, and the ecosystem surrounding krest and its native $KREST token. We will also touch upon the wider peaq ecosystem, as those contributing to the capital-raising round on Fundrs will also participate in an exclusive $PEAQ airdrop later on, making for the public’s first chance to receive $PEAQ tokens.

AllianceBlock has already enjoyed a strong relationship with peaq — last year, peaq network was integrated with Fundrs, enabling builders to raise capital and accelerate their development on the network. AllianceBlock community also met peaq’s Co-Founder Leonard Dorlöchter at the start of the year, where he discussed how peaq will shape the future of Machine DeFi using Fundrs and NexeraID — here is a recap.

krest network’s listing will soon go live on AllianceBlock Fundrs. Funders can participate in the capital-raising round on Fundrs by staking their $NXRA and earning rALBT. Staking $NXRA is available on several chains, including Ethereum, Avalanche, Polygon, and Arbitrum. The recent integration of Fundrs on Arbitrum has resulted in lower transaction fees and faster processing speeds for the AllianceBlock community.

krest will be the testing ground for the next big Web3 and EoT trend — DePIN

In the Web3 space, Decentralized Physical Infrastructure Networks or DePINs are gaining traction as the next frontier beyond decentralized finance (DeFi). These networks utilize tokens to incentivize the deployment of physical infrastructure, which renders real-world services such as electric vehicle charging or providing web access via decentralized applications (dApps). As such, they comprise two main components: the physical infrastructure, for example, charging stations, servers, or sensor arrays, and the decentralized digital backbone they run on.

DePINs are set to revolutionize how we manage and interact with physical infrastructure. By crowdsourcing the hardware, they can scale at a tempo that leaves the legacy names behind while promoting community ownership instead of centralized control. They have a lot of potential to disrupt industries that have long seen a lack of true innovation. Some of the industries that are most ripe for disruption with DePINs and krest-tested technology include:

Smart Homes — As the number of connected devices in homes increases, the potential market for smart home technology will grow to over $150 billion by 2024.

Industrial Automation — The adoption of smart sensors and devices in factories and manufacturing facilities can transform the industrial automation market, which is expected to reach $300 billion by 2026.

Healthcare — The integration of connected devices in healthcare, such as wearables and remote monitoring devices, could lead to significant cost savings and better patient outcomes, with the global digital health market projected to reach $511 billion by 2025.

Mobility — Connected cars and autonomous vehicles are expected to revolutionize the transportation industry, with the global connected car market projected to reach $166 billion by 2025.

Agriculture — The use of smart devices in agriculture, such as sensors and drones, can increase crop yields and reduce waste. The global precision agriculture market is expected to reach $12.9 billion by 2027.

However, the absence of a realistic testing environment has posed a significant challenge for developers in this space. Enter krest, the canary network of peaq, which grants DePIN and dApp builders a production-grade environment for experimenting with and innovating machine-powered services and a tokenomics model bolstering their key competitive advantages and incentives.

By connecting their devices to krest, the peaq community will create a pool of live devices capable of simulating the operations of various machines, such as drones, electric vehicles, and more. Developers building machine-focused projects on krest can leverage this pool to test their dApps with real-world IoT connectivity. This way, they can assess their dApps’ performance and wider societal impact and uncover bugs and risks in cooperation with the wider community before releasing their projects for real-world machines on the peaq network. By enabling the simulation of charging processes, token flows, and network interactions, krest provides developers with a safe and reliable environment to refine their solutions before deploying them on a full-scale Web3-based platform. Users, for their part, will receive rewards in the network’s native token for performing certain actions on the network, such as connecting their devices and more.

Peaq Foundation is a non-profit organization supporting peaq, the Web3 network powering the Economy of Things, and peaq’s canary network krest. The foundation offers grants to prospective builders looking to develop dApps and layer-2 protocols on peaq and bolsters the network’s development through community-facing initiatives. The majority of the development of the krest and peaq network is executed by EoT Labs, a software development and incubation organization supporting open-source projects focused on the Economy of Things.

krest Offers an Extensive Stack of Modules, Functions, and Tools for Developers to Build the Future of DePIN and the EoT

krest stands out as a canary network specifically built for DePINs and the Economy of Things. It offers a rich stack of modules, functions, and tools to support developers in building next-generation DePINs and dApps. Some of these key features include:

Machine Simulations — krest leverages mini-computers like Raspberry Pis to simulate various machines, devices, and robots within the Economy of Things. This enables developers building DePINs and dApps on peaq to leverage these devices for simulating their end projects at a fraction of the costs, efforts, and risks associated with leveraging real machines for such trials..

Technical Innovations — krest empowers developers to roll out smart contracts, tools, and dApps in a real-world environment with live tokens and an active community. This expedited development process allows for quick prototyping and iteration, reducing the time to market for innovative solutions.

Socio-Economic Experiments — krest network and the $KREST token create an ideal environment for socio-economic experimentation within the Economy of Things and DePIN landscape. Developers can explore novel incentive mechanisms, economic models, and governance structures to shape the future of machine-powered ecosystems.

Exploring the Diverse Ecosystem of Projects Using krest

Many users and projects already use the peaq Testnet while they wait for the official launch of the krest network. These include DePINs such as bloxmove.com (a shared mobility blockchain platform developer building a Web3 ride-hailing dApp on peaq), natix.network (a drive-to-earn DePIN), charge.xyz (peer-to-peer electric vehicle charging), penomo.io (monetization platform for 2nd hand EV batteries), Wicrypt (people-powered 5G connectivity), and analytical tools like DappLooker.

peaq and krest Shape the Future of Smart Mobility with Top Industry Giants Like Bosch, Ocean Protocol, and Airbus in €20+ million Gaia-X moveID Project

peaq is also co-creating the standards and infrastructure for the future of mobility as part of Gaia-X 4 Future Mobility moveID project, with an overall size of more than €20 million, part of Gaia-X, the European Association for Data and Cloud. The three-year project combines top industry players to build a sovereign digital infrastructure that enables secure, connected, and open mobility. Besides peaq and krest, other project participants include multinational engineering and technology giant Bosch, which is the project lead, as well as Ocean Protocol, Airbus, Continental, Fetch.ai, Materna, Denso, WOBCOM, Chainstep, Datarella, 51nodes, and deltaDAO.

The $KREST Token: Ecosystem Utility, Attractive Incentives for Developers and Benefits for Holders

The $KREST token lies at the core of krest’s value proposition and aligns the incentives of all network participants. It serves multiple functions within the ecosystem, including transaction fee payments, network governance, access to Machine DeFi, and machine NFT utilities. Token holders enjoy additional benefits such as participation in airdrops, exclusive NFT collections, and eligibility for grants and pre-seed funding programs.

$KREST will be used in the following ways:

• Transaction fees and functions are paid in $KREST.
• Network governance is performed using $KREST.
• Use of Web3 bridges is paid in $KREST.
• peaq network collators are rewarded in $KREST.
• Access to Machine DeFi requires $KREST.
• Machine and EoT NFTs that provide utility in the network, such as dApp voting, require $KREST.

With the contribution, $KREST token holders will be eligible for an upcoming $KREST and $PEAQ airdrop, which would potentially double the number of tokens they get from their contribution. Besides that, they will also take part in a $1M $PEAQ token airdrop, which grants the public early access to $PEAQ for the first time. The airdrop will be tiered, with those holding more than $25,000 worth of $KREST receiving $PEAQ 1:1, those holding between $5,000 and $25,000 worth of the tokens getting 1 $PEAQ per 2 $KREST tokens they hold, and those with fewer than $5,000 worth of $KREST tokens getting 1 $PEAQ for every 3 $KREST. krest has published an article for more details here.

In addition, an exclusive NFT collection, which guarantees access to certain perks and qualifications for additional $PEAQ airdropped tokens, will be launched together with an artist in the space. A winner will be drawn among all participating wallet addresses. More details on this soon on peaq’s official channels.

The funds raised will be used exclusively for community and ecosystem development, such as for projects applying for the grant program or further listings for the $KREST token to provide the maximum value to all participants in the Fundrs sale and the peaq community.

$KREST tokenomics are a power multiplier for DePIN and dApp builders and users

krest employs a transaction fee and block reward mechanism to incentivize different network participants. The transaction fee is low enough to be attractive for connecting machines and testing dApps and DePINs but high enough to create the necessary incentives in the network and distribute the rewards from the transaction fee. This creates a healthy mix between the value created and rewards distributed from the value generated.

The following overview provides an understanding of krest’s reward mechanisms and their ability to work as power multipliers for dApps and DePINs:

dApp Rewards — a share of network revenues on krest is distributed between dApps running on the network to incentivize builders. Therefore, dApps enable other dApps to receive recurring revenues from the network to finance operations and further development. By staking their EoT NFTs, the community can vote for the dApps they like, amplifying their rewards, and dApps can reward their backers with their native tokens.

Collator Rewards — Collators receive recurring rewards for operating nodes required to run the network processing its data and transactions.

Machine Rewards — Machines operating in the ecosystem receive constant recurring revenue from the network to incentivize machine owners to connect their devices to krest. This mechanism works as a power multiplier for DePINs, which use tokens to incentivize infrastructure deployment, by adding extra rewards on top of their offer.

Machine Subsidizations — New machines or machine pools voted on and added to the peaq ecosystem get subsidized. This is done so that individuals and companies have an incentive to add new machines to the network.

Machine and EoT NFT Rewards — The team is working on introducing different types of utility NFTs that can be minted using $KREST token by providing liquidity to the network.

Treasury/Burn — The funds that the treasury receives are split into three pools: funds financing the further development and the maintenance of the network, funds reserved for future parachain auctions, and tokens allocated for burning.

What’s Next

Capital providers can prepare for krest’s upcoming raising round by staking $NXRA on Fundrs to earn rALBT — a participation requirement. Staking $NXRA is available on Ethereum, Avalanche, Polygon, and, more recently, Arbitrum. Users can access different Fundrs Tiers with multipliers depending on the amount of $NXRA they stake. Alternatively, they can lock their $NXRA staking for different periods to earn their rALBT up front. The contributors can redeem their tokens on krest once the network goes live under a three-month vesting schedule, with the tokens released in three equal-sized batches.

AllianceBlock is proud to support this exciting canary network, developed to serve as the foundation for integrating Web3 applications into the Economy of Things. peaq’s testnet is already used by several Web3 projects and is leveraged in collaborations with industry giants like Bosch, Airbus, and Ocean Protocol to power the future of mobility. krest is the next chain in this link, giving builders across the small-team-to-enterprise spectrum the first production-grade network with all of peaq’s key functions and a build, break, and improve it mentality. This puts krest in a strong position to live up to its promise of working as the home for experimenting with and innovating machine-powered services. Funders on AllianceBlock have a unique opportunity to participate in a process that will reimagine physical infrastructure deployment and management, giving the power and ownership back to the communities this hardware serves.

krest’s upcoming capital-raising initiative on Fundrs is set to establish the project as a leader in their groundbreaking act of being the world’s first and only Economy of Things simulation network. You can check out krest on their website, or follow them on Twitter.

Stay tuned for more announcements on AllianceBlock’s Twitter and Telegram Announcement channels, to be notified when the krest listing is live, and for more product, ecosystem, and development updates.

Are you a builder interested in integrating Fundrs, or do you want to talk about the potential to launch on the platform? Reach out to our business development team here.

About krest network

krest is peaq’s canary network — the world’s first and only DePIN simulation network. krest is your home for socio-economic, technical, community, and governance innovation and experimentation within the peaq ecosystem. Launch DePINs (Decentralized Physical Infrastructure Networks), machine-powered dApps, and tools for the Economy of Things and assess their impact in a live environment on a public blockchain network, without running the risk of causing real-world harm.

About AllianceBlock

AllianceBlock is an infrastructure provider for decentralized tokenized markets. It empowers businesses with liquidity provisioning and allows them to compliantly issue, manage, and trade tokenized, digital assets including real-world assets (RWAs).

The AllianceBlock ecosystem of partners, clients, and ventures consists of top stakeholders from the financial industry, as well as the decentralized finance (DeFi) sector. Their unique product suite complies with global regulations and seamlessly integrates with legacy systems.

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