October 2023 Ecosystem Roundup

In October, Pendulum experienced considerable progress in both our technical developments and business outreach. A major highlight was our Global DeFi event in Rio, signifying our entrance into the Brazilian market. Our efforts were centered on establishing new partnerships and demonstrating viable use cases, reinforcing our dedication to expanding financial inclusion across the globe.

Starting this month we’re excited to introduce a new Community Q&A section to the Monthly Roundups, featuring questions posed by our community members with answers straight from the Pendulum team.

💡 Ecosystem Highlight

Groundbreaking Event in Rio, Brazil

On October 5th, Pendulum spearheaded an insightful, well-attended event on Global DeFi and Stablecoins adoption in Rio de Janeiro, together with partners Transfero Group, Parfin, Fuse Capital, and Hashdex.

With over 150 attendees from top fintechs and crypto projects, the event featured panel discussions on the future of stablecoins, borderless payments, and crypto markets in Brazil. The discussions highlighted Brazil’s massive opportunity to lead mainstream DeFi adoption, thanks to its young, tech-savvy population, crypto-friendly government, and unique ability to move fast. However, education remains a challenge with many still learning about decentralized solutions.

Our partner, Fearless Wallet provided a seamless onboarding experience for attendees new to the crypto arena. By leveraging their user-friendly wallet, attendees have accessed complimentary $PEN tokens to redeem for exclusive merchandise, dinner, and drinks using their digital wallets.

By driving conversations and tangible use cases around DeFi and stablecoins, Pendulum is committed to alleviating pain points such as cross-border transactions and FX fluctuations in LATAM.

Events like this affirm we are at the cusp of an inclusive financial revolution. This is only the beginning as we continue collaborating to shape the Open and Inclusive Financial Future. We are tremendously grateful to our partners including Transfero Group, Parfin, Fuse Capital, Hashdex, and Fearless Wallet for their invaluable collaboration and support in making this pioneering event a huge success!

🏦 Governance & Referendum

Referendum to accept incoming and open outgoing HRMP channel to Polkadex: The referendum has passed and it expands possibilities for decentralized trading for $PEN in the future.

🗜️ Integration Update

XCM transfer on SubWallet & NovaWallet: XCM transfer for moving $KSM between @Kusamanetwork and @amplitude_chain is now fully supported on both SubWallet and NovaWallet.

Ledger integration on Talisman: Ledger has seamlessly integrated with Talisman, allowing the users to import and manage their $PEN tokens effortlessly.

🧵 Thread Highlights

This thread explored how Pendulum aims to modernize cross-border payments by connecting fragmented systems via stablecoin rails. With Pendulum’s Forex Infrastructure and global partnerships, it can unlock faster, cheaper remittances and trade settlements by leveraging tokenized fiat currencies.

💬 Community Q&A

What’s the main regional market Pendulum is focused on?

• That’s a great question. At the moment, our main focus is on two fronts: firstly, the continued development of the product, and secondly, emerging markets where the need for stablecoin adoption is greatest and the most friendly regulatory environment, particularly Brazil and Tanzania.

When will the new roadmap be out?

• Thank you for raising this. We’ve just updated the roadmap on our website, and we’ll be sharing more details soon. So for now, check out the updated roadmap on our website.

Why is there no Chinese language community?

• We are definitely interested in expanding our reach into other language communities. Currently, our primary focus is on product development and ecosystem growth. However, expanding into the Chinese community is certainly part of our future plans!
  We already have a Chinese-speaking community on the official Pendulum Discord. You can join at here.

What’s the ultimate vision for the PEN token to be used for?

• As per our website — Decentralized blockchain technology for cross-border payments and traditional finance infrastructure! For more details, read our “What is the Utility of PEN?” deep dive article. The article explains how PEN powers transactions as the gas token on Pendulum chain and has utility in governance, staking, securing the network and more.

With our breakthrough event in Brazil fostering strategic alignments in a pivotal market, October marked an impactful milestone for Pendulum. As we move ahead in Q4 2022, our focus remains on amplifying adoption in key regions through localized partnerships and technical development. More collaborations are in the pipeline to further our mission of seamless integration between traditional finance and DeFi’s capabilities. Stay tuned as we continue driving the adoption of decentralized and open finance solutions globally.

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.

Keep your eyes on the Pendulum!

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