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JuiceUp joins peaq's DePIN Ecosystem: Details

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Thu, 23/05/2024 - 13:54
JuiceUp joins peaq's DePIN Ecosystem: Details
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The power bank sharing DePIN will run natively on peaq, leveraging peaq IDs as its decentralized identity standard and deploying its rewards mechanism on peaq for all Web3 enthusiasts who contribute to JuiceUp’s network of charging stations.

JuiceUp charging network comes to peaq

JuiceUp, a platform that introduces Web3 to the multibillion segment of power bank sharing, has entered into a long-term collaboration with peaq network, an innovative L1 for DePIN-centric use cases.

JuiceUp is building a DePIN of community-owned power bank stations that owners can set up in hotels, restaurants, bars and other popular public places. Anyone with a phone or laptop running out of juice can rent a power bank from these stations and charge up, which generates revenue for the station’s owner. 

Danny Joosten, CCO at JuiceUp, stresses that the launch of their power bank rental network will be of mutual interest for various groups of actors within the Web3 scene:

The power bank rental market is taking off, but it’s torn apart by power imbalances and diverging interests of the stakeholders. JuiceUp changes the game with a more equitable business model that aligns everyone’s interests and puts the community in charge. With its Modular DePIN Functions and DePIN-friendly economics, peaq is the perfect home for such a project — one that enables JuiceUp to build and scale faster than on any other network.

The JuiceUp DePIN will prevent businesses from losing customers due to unavailable power sockets and enable the global Web3 community to earn from real-world services.

As covered by U.Today previously, peaq network recently onboarded Ec³, a solar power distribution innovator.

Showcasing Modular DePIN Functionalities in power bank sharing segment

Till Wendler, cofounder of peaq, highlights that onboarding JuiceUp will be a very interesting use case for his platform:

JuiceUp leverages the DePIN model to bring an in-demand real-world market into Web3. It is an exciting use case, and we’re happy to see it choose peaq to power this endeavor as its layer-1 blockchain, bringing thousands of prospective devices and transactions on the network.

Building on peaq as its layer-1 backbone, JuiceUp will leverage its Modular DePIN Functions as part of its core architecture. It will use self-sovereign peaq IDs as the secure identification standard on its DePIN. 

In the future, JuiceUp will also release its crypto reward system on peaq, launch its beta app on the network and run its pilot program there, analyzing its DePIN’s performance.

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