MapMetrics ditches Solana blockchain for peaq

Drive-to-earn DePIN project MapMetrics will slowly transition to the peaq blockchain

April 25, 2024 03:49 pm

MapMetrics modified by Blockworks

Decentralized Physical Infrastructure (DePIN) project MapMetrics will leave the Solana ecosystem and migrate to peaq, a layer-1 solution designed specifically for DePIN and Machine real-world assets (RWAs).

MapMetrics is a drive-to-earn project that rewards users with tokens and NFTs for providing anonymous live traffic and map data. Similar to DePIN project Hivemapper, the team hopes to create a decentralized global map using Web3 technology.

Brent van der Heiden, co-founder at MapMetrics, told Blockworks that the decision was made as peaq offered a variety of modular DePin functionality.

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“Peaq ID, a decentralized multi-chain machine identity, enables the network to prioritize real machines in times of high load,” Heiden said. “The Modular Functions, such as the DePIN data verification framework, will also help us further expand our DePIN’s own features.”

Additionally, Heiden notes there are a handful of potential synergies in the wider peaq ecosystem, including with other DePINs and its enterprise partners, which may enable the team to secure new partnerships to build out demand for the project.

“Peaq’s community includes thousands of DePIN enthusiasts, which will help us grow, and the Machine Composability that comes with using the same identity standard across the ecosystem will help us tap into the pool of devices already on peaq,” Heiden said.

The transition process will be completed over multiple phases, beginning with smart contract deployments on peaq, followed by moving core business logic over to the layer-1. Afterwards, native token minting will also be available on peaq, and a bridging option will be available to existing holders.

Despite MapMetric’s decision to leave the Solana ecosystem, the blockchain remains a popular home for many DePIN projects today.

Natix, another DePIN mapping project, revealed today that it will be launching its native token on the Solana blockchain, while continuing to collaborate with the peaq network.

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