Live on Pendulum: Spacewalk Bridge Unites Stellar & Polkadot
Spacewalk bridge, heralding a new era in Stellar and Polkadot interoperability, is now publicly live on the Pendulum network. Almost a year after Coindesk first reported on the development of the Spacewalk Bridge, this notable project has been completed, paving the way for DeFi collaborations between the Stellar and Polkadot communities. To start using Spacewalk now, click here. For assistance, follow our detailed step-by-step guide which will help you navigate the process with ease.
Uniting Stellar and Polkadot Worlds
Spacewalk offers a trust-minimized connection between the Polkadot and Stellar ecosystems, enabling efficient transfers of fiat-backed stablecoins and cryptocurrencies. This integration marks a significant step in uniting Stellar’s fiat-anchored currencies with the expansive DeFi capabilities of Polkadot. In addition to Stellar’s native token, XLM, the following stablecoins are now bridgeable through Spacewalk:
PEN, the native token of Pendulum, will serve as the transaction fee currency within the network. After launching on Amplitude, Pendulum’s sister chain on Kusama, in late 2023, the Spacewalk Bridge is now active on the Pendulum Polkadot chain, marking its public launch. At present, we have implemented a cap on the volume of assets that can be bridged. This measure is a part of our security protocol during the initial stages of our phased launch. Over time, as we progress through these phases, we will incrementally raise this cap to allow for greater asset volume transfer.
Follow this Guide to setup a vault today.
XLM Trading on Zenlink
Stellar users can now efficiently transfer XLM tokens to the Polkadot Zenlink DEX through the Spacewalk Bridge, granting access to a variety of XLM pools. XLM holders will have the unique opportunity to provide liquidity to these pools and earn rewards in the coming days. The XLM pools on Pendulum’s Zenlink DEX include:
- XLM.s/PEN
- XLM.s/DOT
Furthermore, Pendulum’s sister chain on Kusama, Amplitude chain, introduces these liquidity pools on Zenlink:
- KSM/XLM.s
- AMPE/XLM.s
Detailed step-by-step guides will be available to assist in navigating the swapping and liquidity provision processes soon. This strategic integration brings forth a spectrum of opportunities for Stellar’s DeFi enthusiasts, enabling them to engage in XLM trading and proactive participation in liquidity provision. With XLM’s cross-chain adaptability, it establishes a presence within the DotSama ecosystem. This extension broadens the scope of DeFi prospects available to the Stellar community, encompassing governance, staking, and more.
Forex DEX Powered by Nabla
The importance of onchain Forex trading is highlighted by a January 2023 research paper from Uniswap and Circle. Pendulum’s FX DEX is taking the lead as the first live dApp within the Pendulum ecosystem, thanks to the cutting-edge technology provided by Nabla. Powered by Nabla, Pendulum’s DEX enables seamless single-sided liquidity provision, completely eliminating the concerns of impermanent loss. Discover more about Nabla’s innovative technology in the Nabla Whitepaper. Join the journey to bring Forex liquidity onchain and get rewarded for participating in the upcoming Forex DEX Testnet campaign.
A Connected Future
The Spacewalk bridge is now operational on Pendulum Mainnet, enabling the movement of various stablecoins between Polkadot and Stellar networks. This initiative aims to enhance financial inclusivity within DeFi, particularly for emerging economies. The imminent deployment of our Forex-optimized AMM powered by Nabla on the Pendulum Mainnet will further enhance accessibility for Stellar stablecoin holders in the Polkadot DeFi ecosystem. This development opens up opportunities for single-sided staking of stablecoins with zero impermanent loss (for real!).
Now is the perfect moment to join our community, stay updated with the latest developments on our social media channels, and actively contribute to the mission of making DeFi accessible to individuals worldwide.
About Pendulum
Building the missing link between fiat and DeFi through a fiat-optimized smart contract blockchain based on Polkadot’s Substrate. Allowing traditional finance fiat services to integrate with DeFi applications such as specialized forex AMMs, lending protocols, or yield farming opportunities. Developed by SatoshiPay.
Keep your eyes on the Pendulum!
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