November 2023 Ecosystem Roundup
As we look forward to the holiday season, we also celebrate the significant steps we’ve taken together. It’s been a month fueled with partnerships driving financial access in emerging markets, impactful events, and key governance actions. Let’s review these November achievements that have strengthened our journey in connecting DeFi & TradFi.
💡 Ecosystem Highlight
Pendulum & ClickPesa unites to revolutionize East Africa’s SME financing
Pendulum’s new partnership with ClickPesa marks a milestone in enhancing SME financing in Tanzania, using blockchain to boost funding accessibility. This collaboration is a testament to the commitment towards financial inclusivity, empowering local Microfinance Institutions, and advancing women-led enterprises in the region.
Web3 Meets Reality: Bridging Digital Frontiers with Tangible Utilities
At the “Web3 Meets Reality” event in Berlin, Pendulum and industry leaders like Centrifuge, CV Labs, Sygma and ChainSafe showcased how blockchain intersects with real-world applications. This event, echoing our successful Fearless Wallet collaboration in Brazil, offered attendees a dynamic experience with $PEN tokens and exclusive Pendulum insights, fostering deeper engagement within our growing ecosystem.
🏦 Governance Updates
- Spacewalk Launch on Amplitude: The community have voted in favor of the referendum for the Spacewalk public launch on the Amplitude. This approval introduces a new security measure — a temporary $20,000 USD bridge limit for enhanced safety. As a result, the public launch is now imminent and will bring a range of stablecoins to the DotSama ecosystem, including USDC, EURC, AUDD, NGNC, TZS and BRL.
- Moonbeam HRMP Channel Opened: The HRMP channel with Moonbeam’s runtime has been successfully opened, enhancing interoperability and reaching of the $PEN tokens.
- Moonbeam’s xcPEN integration: A referendum is currently underway to open a bi-directional channel between Moonbeam and Pendulum and register Pendulum’s PEN as xcPEN. This makes it possible to list PEN on the Stellaswap DEX.
☎️ Community Engagement
- Poll 1- The Future of Stablecoins: Our community weighed in on which stablecoin they predict will dominate the market by 2030. The results show 47.2% envision USDT leading the market by 2030, with USDC as a strong contender at 25.5%. CBDCs also caught attention with 18.9%, while 8.5% suggested alternative players.
- Poll 2- Blockchain’s Biggest Hurdle Ahead: Regulation emerged as the foremost challenge for blockchain adoption in the coming years, as per 42.5% of participants in this poll. Close behind, 37% see public understanding as a vital hurdle, while 13.7% pointed to scalability. An intriguing 6.8% shared other unique insights.
🥂 Events
Web Summit Lisbon
The Pendulum team’s journey around the globe made an exciting stop at Web Summit 2023 in Lisbon. Our CMO and co-founder, Daniel, represented Pendulum at this renowned tech event, and engaged with a diverse array of attendees and industry leaders.
🧵 Article Highlights
Polkadot: A Main Catalyst for Scaling Web3
Polkadot is revolutionizing blockchain interoperability and scalability. Its innovative architecture influences platforms like Cardano and Polygon, enhancing scalability and benefitting ecosystems like Pendulum. Discover how Polkadot is paving the way for a unified multi-chain future in our detailed article.
Embracing the Stablecoin Revolution in Business
Stablecoins are reshaping business finance by combining cryptocurrency efficiency with fiat stability. They offer lower transaction fees and faster processing, contributing to a more transparent and inclusive economy. Learn about Pendulum’s role in this financial evolution and initiatives like the East Africa Fintech Alliance in this article:
💬 Community Q&A
When will there be more listings on DEXs? Will PEN also be available on StellaSwap or BeamSwap?
- Both options are on our radar. We always listen closely to what our community says, and we’ve noticed a growing demand for PEN to be listed on a DEX. So, you can look forward to some exciting news about this in the future!
When can we expect a roadmap update?
- This is a frequently asked question, and we understand its importance to the community. Currently, we can’t provide an exact timeline. However, you can expect increased transparency and more frequent communications from the Pendulum team going forward.
Why is Pendulum spending money on events when the product isn’t ready?
- Events offer us a valuable chance to connect with our community and collaborate with other initiatives. Through these gatherings, we have established various technical and strategic partnerships that aid our product development. Nevertheless, your observation is valid. For 2024, we are planning to allocate more resources and effort toward product and technology, to ensure the achievement of our product-building objectives.
As we wrap up November and look towards the close of 2023, we’re grateful for the progress and partnerships we’ve forged. Our path into 2024 is clear — to continue expanding our DeFi reach and enhance financial inclusivity. Stay with us on this exciting journey and keep up with all the latest Pendulum developments on our social media channels.
About Amplitude
Pioneering the internet of fiat. Amplitude is the sister network of Pendulum on Kusama. It will act as a testing ground for Pendulum applications and network parameters and be powered by the AMPE token.
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.
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