JuiceUp has chosen peaq as its layer-1 backbone for a DePIN of community-owned power bank stations set up in restaurants, bars, and other high-footfall locations.

May 23, 2024 — peaq, the layer-1 blockchain for DePIN and Machine RWAs (real-world assets), announces the expansion of its ecosystem as JuiceUp joins in to bring power bank rentals into Web3. 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 revenues for the station’s owner. The DePIN will run natively on peaq, leveraging peaq IDs as its decentralized identity standard and deploying its rewards mechanism on peaq.

Valued at $25 billion in 2023, the global power bank rental market is blossoming, driven by the ever-growing reliance on mobile phones and tablets for anything from work to entertainment. In China, which alone accounts for more than one billion smartphone users, the industry has become omnipresent, producing companies with valuation in billions of USD. But the outsized prices these companies charge have already sparked controversy in China and are now a cautionary tale for others, too.  

JuiceUp is working to put the market on a more equitable foundation, aligning the interests of all stakeholders and putting the community at the helm. Its app, soon entering its pilot test, will empower anyone to take on the centralized power bank rental providers by setting up their own devices in nearby public locations and earning from them without having to worry about the maintenance, which is taken care of by JuiceUp. The app will also enable prospective renters to find the available stations in their vicinity and initiate a charging session through a simple and convenient interface, paying with card (and, later, with crypto) and dropping off the bank at any JuiceUp station of convenience. 

The JuiceUp DePIN will give businesses an alternative to losing customers due to unavailable power sockets and enable the global Web3 community to earn from real-world services — all while giving people in need of a charge access to a more democratic peer-to-peer power bank rental market.  

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. It will also develop and deploy on peaq the smart contracts that will handle the payment for rentals and revenue sharing. JuiceUp will also implement its token reward system on peaq, launch its beta app on the network, and run its pilot program there, analyzing its DePIN’s performance. 

“The power bank rental market is taking off, but it’s torn apart by power imbalances and diverging interests of the stakeholders,” says Danny Joosten, CCO at JuiceUp. “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.”

“JuiceUp leverages the DePIN model to bring an in-demand real-world market into Web3,” says Till Wendler, co-founder of peaq. “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.”

About peaq 

peaq is leading a global infrastructure revolution, empowering people to own and earn from mobility, energy, connectivity, environment, agriculture, and digital infrastructure. peaq is a layer-1 blockchain designed to be the go-to backbone for DePINs (real-world apps). It is home to more than 25 applications in 11 industries and to the 450,000+ devices, vehicles, machines, and robots (Machine RWAs) that run on them. peaq serves as permissionless, borderless digital infrastructure for increasingly intelligent machines to serve all of humanity – the 100%, not just the 1% – democratizing abundance in the Age of AI and job automation.

For more information, visit peaq, follow peaq on Twitter/X for updates, and join the conversation on Discord.

About JuiceUp

JuiceUp is an innovative platform where the growing demand for mobile charging solutions meets Web3. Powered by peaq, the blockchain for DePIN and RWA, it is building a DePIN of community-owned power bank rental stations taking on the real-world industry that has already produced Web2 companies worth hundreds of millions USD. By deploying JuiceUp charging stations in high-footfall areas, investors can generate immediate income and tap into the everyday need for charging mobile devices. With JuiceUp, anyone can join the growing and successful power bank rental business, tailoring their participation to their means and helping to make this industry more decentralized and community-owned — giving power to the people, literally.

For more information, visit https://juiceup.network/ and join the mailing list.