In the past half month, the price of the KREST token has shown a steady upward trend. Market data shows that the price of KREST has soared from around $0.33 on February 22 to a high of $0.68 on March 7, more than doubling in two weeks. The direct impetus for this surge in KREST may have come from ELOOP successfully testing the world's first tokenized platform for real-world machine assets (RWA) on its platform on February 20.
Below is a comprehensive introduction to the KREST project.
Understanding the Krest Network: A Decentralized IoT Token Economy Application Ecosystem, Covering Multiple Fields from Home to Agriculture
Krest, as the canary chain of the Peq network, focuses on driving the development of the Internet of Things economy (EoT). Through collaborations with industry leaders such as Bosch and Airbus, Krest has demonstrated the practicality and innovation of its technology, especially in the field of mobile travel and machine DeFi. These collaborations have promoted the experimentation and implementation of technology, providing support for Web3 applications.
DePIN is becoming the next big trend in the Web3 space, providing real-world services through token-incentivized deployment of physical infrastructure. Krest provides a production-level environment in this field, allowing developers to test and innovate in real IoT connections, with potential to completely transform areas from smart homes to agriculture.
Krest is not only a technical testbed but also a platform for socio-economic experiments. By simulating machine operations and token economic models, Krest provides developers with the opportunity to perfect solutions in a secure environment. This incentivizes user participation in the network and earning token rewards, thereby promoting community engagement and ownership.
As a non-profit organization, the Peq Foundation supports the development of Krest and the entire Peq network. By funding builders who wish to develop dApps and Layer-2 protocols on Peq, the foundation supports network development through community initiatives. The development work of Krest is mainly carried out by EoT Labs, emphasizing its commitment and potential in driving the IoT economy.
In summary, through its unique technology and collaboration model, Krest has paved the way for the future of the IoT economy and decentralized networks. By providing an innovative test environment and a platform for socio-economic experiments, Krest has contributed to the progress and innovation in the Web3 space.
Understanding the Token Economic Distribution Model of $KREST, Exploring a Series of Value Opportunities in Web3 + IoT Tokens
The $KREST token is at the core of the Krest network's value proposition, effectively coordinating the actions and incentives of all network participants. It plays multiple roles in the ecosystem: from paying transaction fees and participating in network governance to accessing the practicality of machine DeFi and machine NFTs, token holders can also enjoy a range of benefits, including airdrops, exclusive NFT collections, and eligibility for grants and seed round financing plans. Below is an introduction to the application scenarios of the $KREST token:
- Transaction fees and network functions: All transaction fees and network services are paid through $KREST;
- Network governance: $KREST enables holders to participate in the network's governance process;
- Web3 bridge fees: $KREST is required for transactions using the bridge;
- Reward mechanisms: Including network maintainer rewards and $KREST obtained through accessing machine DeFi;
- dApp and EoT NFT practicality: Machines and EoT NFTs providing practical tools in the network require the use of $KREST.
Krest has adopted an economic model aimed at incentivizing various participants, including transaction fees and block rewards. This model aims to maintain sufficiently low transaction fees to attract users connecting machines and testing dApps, while creating necessary network incentives through the distribution of transaction fee rewards. Below is an introduction to the token distribution structure of the $KREST token:
- dApp rewards: Krest allocates a portion of network revenue to dApps running on the network to support their operations and development. Community members can support their preferred dApps by staking EoT NFTs, thereby increasing rewards;
- Collector rewards: Collectors operating nodes receive rewards for processing network data and transactions;
- Machine rewards: Machines running in the network receive ongoing income to encourage connecting devices to Krest;
- Machine subsidies: Newly added machines or machine pools can receive subsidies to incentivize individuals and businesses to add new machine resources to the network;
- NFT rewards and treasury destruction: The team is committed to launching various practical NFTs, which can be minted using $KREST tokens by providing liquidity to the network. In addition, the treasury strategy ensures the continuous development of the network, including fund reallocation and token destruction plans.
Through this token economic structure, $KREST not only provides strong incentives for developers and users in the Krest ecosystem but also paves the way for the future development of decentralized physical infrastructure networks (DePIN) and dApps.
Deep Cooperation with the ELOOP Platform Will Create Numerous Opportunities for Krest to Connect with Real-World Application Scenarios
Within the Krest ecosystem, the groundbreaking ELOOP platform is demonstrating its power by providing a solution for tokenizing machine real-world assets (Machine RWA), not only providing new ways for enterprises to overcome capital expenditure challenges but also opening up a new asset category for investors. It converts the value generated by machines in the real world into digital tokens, sparking new vitality for traditional enterprises and DePIN projects.
Through this platform, Krest strengthens the interaction between machines and network activities, encouraging Web3 technology enthusiasts to participate in various machine RWA investments, such as wind turbines and shared electric scooters. ELOOP's efforts on Krest reflect a transformation that not only allows users to benefit from logistics services through digital means but also expands the traditional understanding of business models.
With the Krest platform, ELOOP successfully tokenized a portion of its Vienna car-sharing fleet of Tesla vehicles, raising over 1.6 million euros to expand its fleet, which are now operating on Peak. This not only confirms the feasibility of the tokenization model but also demonstrates its potential for success, providing a new source of funding for Web2 enterprises and communities needing to build expensive infrastructure.
Machine RWA is the fastest-growing part of the Web3 space and has become an important avenue for global capital flow. ELOOP plans to first test its platform on Krest's canary network and then promote its use on the peaq mainnet, while attracting trials from multiple Web2 and Web3 projects. This platform not only converts machines owned by enterprises and communities into on-chain assets but also allows the global Web3 community to directly benefit from the use and services of machines.
With the support of Krest, ELOOP's platform aims to achieve $20 million worth of Machine RWA token sales in the first year of its launch, initiating a revolution that enables infrastructure projects to seamlessly access Web3 liquidity. ELOOP will first tokenize mobility and energy machine RWAs, such as electric cars and electric scooters, and then expand to DePIN projects in other industries, heralding the birth of a future innovative infrastructure network supported by borderless liquidity.
The DePIN track will continue to grow, but whether Krest can strengthen its position in the decentralized IoT field remains uncertain
When evaluating Krest's achievements and future potential, it is evident that it has established a leadership position in the DePIN market. From continuous technological upgrades to community-driven activities and progress in network participation and project launches, Krest has become a key driver in the development of decentralized physical infrastructure networks (DePIN).
Krest's achievements can be attributed to its deep insights into market trends and relentless pursuit of innovative technology. By introducing advanced projects such as ELOOP and providing a trusted platform for tokenizing real-world assets, Krest has not only opened new capital operation models for enterprises and communities but also injected vitality into the entire blockchain ecosystem. Its strategic focus is to lower the threshold of capital expenditure through tokenization, enabling a wider range of participants to seamlessly access and benefit from it.
Looking ahead, as Krest continues to make progress in technological innovation, market expansion, and user engagement, its influence in the DePIN market is expected to continue to grow. As an emerging force in the blockchain industry, Krest is not just a new star in the crypto world but a pioneering innovator. Its path to success provides valuable experience for the entire blockchain industry and instills confidence and expectations in investors and users.
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