Pendulum Launch Roadmap
The Pendulum Mainnet and PEN Token Launch is rapidly approaching. Our Forex-optimized parachain made a significant impact in the industry with its record-breaking auction time of just three minutes on Polkadot. The time has almost come for Pendulum chain to go live on Polkadot, with the launch of its native token, PEN. This article will provide a comprehensive overview of the Launch Roadmap, to ensure that all community members are fully informed and up-to-date with every step of the process. We aim to complete the Pendulum Launch Roadmap by March, it can be divided into three phases: Mainnet Launch, Token Transferability Event , and PEN Listing.
1. Mainnet Launch
The Mainnet Launch marks a pivotal moment for the Pendulum project and community, representing over a year of meticulous preparation and eager anticipation. At the genesis block, the Pendulum parachain will go live on Polkadot, heralding the opening of a lease for Pendulum.
The parachain will be governed by sudo (a council). This will soon be replaced by decentralized community governance after sudo is removed during the next phase.
The creation of the PEN token will take place at this stage, and while presale participants will receive their tokens, they will not yet be transferable or tradeable.
2. Token Transferability Event
The Token Transferabilty Event is a relatively new term in the crypto industry that refers to tokens becoming transferable but not yet tradeable. So PEN crowdloan participants will be able to claim their PEN tokens via the Pendulum Portal V1.
Then the network will perform a fast-tracked referendum to remove sudo. Once sudo is removed the PEN tokens will become transferable and the network becomes decentralized, “live” and in the hands of the community. After sudo is removed and you have claimed your tokens, you will be able to transfer them to other wallet addresses but not trade them yet. Keep an eye out for collator staking opportunities as well as opportunities to provide liquidity during the DEX listing later on and earn rewards.
At this point, DotSama (Polkadot & Kusama) ecosystem wallets will begin integrating and displaying PEN tokens. The first collator will be onboarded with many more to follow, thus improving performance and the decentralization of Pendulum. More information on how to run a collator coming soon.
3. PEN Listing(s)
We can announce that PEN will list on the Zenlink AMM with the PEN-DOT trading pair. There will be liquidity providing (LPing) opportunities here, including single-sided LPing of DOT or PEN, as well as double-sided staking of both PEN and DOT. Rewards will be given out in PEN tokens. To learn more about the PEN tokenomics, see this article:
PEN utilities include powering transactions as the gas token on the Forex-optimized blockchain, governance, staking and more. Read this article for the detailed rundown:
0xAmber & Spacewalk
The excitement doesn’t stop there. Shortly after the Mainnet Launch and PEN token release, the 0xAmber Forex-optimized AMM and the Spacewalk bridge connecting Stellar and Polkadot will become operational, offering attractive APYs to early stakers of stablecoins and assets. Stay tuned to our social channels for more information on these developments.
Swinging Towards a DeFo Future
After a dedicated and tireless effort over the past 18 months, the Pendulum community is eagerly anticipating the achievement of our most significant milestones yet. The successful completion of the Amplitude crowdloan, raising over $1 million, was followed by the Pendulum auction contributions reaching the hard cap of 300,000 DOT in a record-breaking time of just three minutes.
The team is confident that the best is yet to come as the market begins to recognize the potential for on-chain Forex and the critical role that a tailor-made blockchain plays in onboarding traditional finance into the cryptocurrency space. Stay informed about all updates to the launch roadmap by joining the Pendulum community on social media, and thank you for helping to bring Forex into the DeFi space to create a DeFo (Decentralized Forex) future!
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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