Preheat deep fryer with peanut oil to 350 degrees F.
Mix the 2 teaspoons salt, smoked paprika, and garlic powder together in a small bowl.
Add chicken wings and toss to coat.
Melt the butter in medium saucepan over medium heat with the garlic.
Stir in peach preserves, hot sauce, and soy sauce. Cook until syrupy and thick, about 5 minutes. Transfer to a large bowl.
Add the wings to the deep fryer and fry until cooked through and golden and crisp, 12 to 15 minutes. You will need to do this in 2 batches so you don't overcrowd your fryer.
Remove the wings from the fryer and drain on a paper towel-lined baking tray.
Add the fried wings to the large bowl of sauce and toss until well combined and wings are well coated. Using a slotted spoon, remove the wings to a platter and serve immediately.
Let wings sit out at room temperature while you make the sauce to allow them time to absorb the seasonings.