Lyophilization (freeze-drying) is the usual way peptides are prepared for storage. The peptide solution is frozen, then placed under vacuum so the water leaves as vapour, leaving a dry powder.
Most of the chemical reactions that degrade a peptide, such as hydrolysis and deamidation, need water (SRC-01). Removing it is why the dry powder keeps far longer than the same peptide in solution. The exact shelf life depends on the compound and formulation, and for most research peptides it has not been published.