Pendulum 2023 Ecosystem Roundup

2023 was a pivotal year for Pendulum, marked by our Mainnet launch that transformed a vision into reality. What began as an aspiration is now an engine of innovation connecting communities worldwide, with a mission to drive financial inclusivity through borderless decentralized finance. So as the calendar turns to 2024, let us recap the progress made in 2023 — a year that built the runway needed for Pendulum to take flight.

Pendulum Mainnet Launch on Polkadot

After 18 months of dedicated work, Pendulum successfully launched its mainnet on Polkadot in February 2023. The crowdloan auction hit its 300,000 DOT hard cap in a record-breaking 3 minutes, demonstrating tremendous community support. This pivotal milestone ushered in block production, decentralized governance, and Polkassembly integration.

$PEN Listed on MEXC

In March, $PEN was listed on the MEXC centralized exchange under the ticker “PENDULUM”, increasing accessibility and tradability. This listing guides the way for additional central exchange integrations in the future under the ticker ‘$PEN’. Check this comprehensive guide on how to trade on MEXC.

Strong Security Audit Scores by Hacken

Rigorous audits by Hacken awarded Pendulum’s smart contract infrastructure high scores of 9.5/10 for Solidity Wrapper Contracts, and 9.6/10 for Pendulum Asset Chain Extension. The audits reinforced Pendulum’s robust security standards by uncovering no critical or high-risk vulnerabilities.

Spacewalk Bridge Live on Amplitude

Spacewalk Bridge is publicly launched on Amplitude, bridging the Polkadot ecosystem and Stellar Network. It enables the movement of $XLM and stablecoins like $USDC, $TZS, $BRL, and more on the horizon, setting the stage for DeFi expansion and Forex integration, particularly in emerging markets. Following community testing and governance approval, Spacewalk will soon launch on Pendulum Mainnet.

$AMPE Listed on Zenlink DEX

Following its Liquidity Bootstrapping, the $AMPE token was successfully listed on Zenlink DEX. Liquidity providers can now earn fees and rewards on the $AMPE/$KSM pair. Follow this tutorial on exactly how to add liquidity to the AMPE/KSM pool.

Strategic partnerships

In 2023, Pendulum established invaluable alignments with leading projects across sectors to expand our ecosystem:

• Moonbeam: Governance approval enabled cross-chain transfers of $PEN tokens across Moonbeam Network and Polkadot ecosystem through an opened HRMP channel, as well as an imminent $PEN listing on StellaSwap DEX.

• Equilibrium: This partnership enhances opportunities for $PEN and $EQD (Equilibrium’s stablecoin) that allow the staking of $PEN tokens and the use of $PEN as collateral for borrowing crypto assets on Equilibrium.
• LINK Collaboration: Promoting digital financial services in Africa through partnership with LINK, facilitating borderless payments, yield opportunities, and on-chain Forex.

• nTokens Integration: Integrating their compliant nBRL stablecoin expanded options for Brazilian real exposure within Pendulum’s DeFi ecosystem.

• Scallop: Advancing financial inclusion by integrating banking solutions with blockchain technology.
• AlphaGrowth: Provides accurate metrics, market research, and other valuable insights to Pendulum’s funds, investors, and Web3 partners. This enables data-backed decision-making across the Pendulum ecosystem.
• Clickpesa Partnership: Pendulum’s partnership with ClickPesa marks a milestone in enhancing SME financing in Tanzania, using blockchain to boost funding accessibility, empowering local Microfinance Institutions (MFIs), and advancing women-led enterprises in the region.

Integrations

Key integrations that bolstered Pendulum’s functionality and user experience:

• Pendulum on Ledger: Pendulum App is integrated with the Ledger hardware wallet. With Ledger’s integration with Talisman, users can effortlessly import and manage $PEN to maximise security.
• Alchemy Pay: Fiat onramps for global $PEN onboarding using credit cards, bank transfers, and various local payment methods.

• Wallet Integration: $PEN are integrated into Dotsama wallets such as Talisman Wallet, Novawallet, and Subwallet, enabling easy management of their Pendulum assets.
• PolkaGate Extension: Convenient management of Polkadot and Kusama assets for the users and seamless transactions on Pendulum.
• SubID Integration: Users can now track crowdloan rewards, balances, NFTs and more across Pendulum, Amplitude, and other chains through SubID’s intuitive dashboard.
• Wallet Connect on Pendulum Portal: Added on Pendulum Portal, allowing more wallet compatibility and smooth onboarding.

• Staking on Subwallet: Staking and yield farming opportunities opened up through integrating PEN staking functions into Subwallet’s clean interface.
• Polkadot AssetHub: Established cross-chain transferability of USDT between AssetHub and Pendulum via XCM channel on Nova Wallet.

Event Highlights

In 2023, Pendulum spotlighted the tangible potential of DeFi and stablecoins by hosting two immersive events. These interactive gatherings enabled attendees to engage hands-on with innovations, bringing Pendulum’s solutions to life while forging stronger connections with our community.

Global DeFi and Stablecoins in Rio, Brazil

In Rio de Janeiro, Pendulum collaborated with Transfero Group, Parfin, Fuse Capital, and Hashdex to host an event focused on DeFi and Stablecoin adoption. The event featured panel discussions on crypto in Brazil and provided an interactive experience via $PEN, enabling attendees to purchase exclusive merchandise. This utility showcase highlighted crypto’s real-world potential and how it can enable new financial possibilities.

Web3 Meets Reality Event in Berlin

At the “Web3 Meets Reality” event in Berlin, Pendulum, alongside Centrifuge, CV Labs, Sygma, and ChainSafe, demonstrated blockchain’s real-world applications. Mirroring the interactivity of the Brazil event, attendees received hands-on exposure to Pendulum’s ecosystem innovation through the $PEN token. This showcased tangible examples of how DeFi can create value beyond speculation.

As 2023 concludes, Pendulum carries forward momentum into the evolving landscape of decentralized finance, we are deeply grateful for our communities who joined us on this adventure. Though challenges remain, we are fueled by optimism and united by a shared purpose — building open and borderless financial systems.

We wish everyone a fantastic start to 2024! Stay connected by joining our Telegram community, where more exciting developments await in the coming year. Here’s to the progress made in 2023, which brought us steps closer to an inclusive financial future. Cheers to what lies ahead! 🥂

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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