Pendulum Mainnet is Here!
We are thrilled to announce the biggest Pendulum milestone yet — the Pendulum parachain is live on Polkadot mainnet! We have entered into the Mainnet Launch phase of our 3-phase Pendulum launch roadmap plan that includes: Mainnet Launch, Token Transferability Event, and PEN Listing. The goal is to complete the launch roadmap by March.
Pendulum is Producing Blocks!
The Mainnet Launch of the Pendulum project marks a significant milestone for both the project and its community. After over a year of meticulous planning and eager anticipation, the Pendulum parachain has finally been established on the Polkadot network. The first-ever block had a weight of 411 nanoPEN.
Currently, the governance of the parachain is in the hands of a council known as sudo, but this will soon be replaced by a decentralized community governance system in the next phase once sudo is removed. The creation of PEN tokens has been completed, and while presale participants will receive their tokens, they will not be able to trade or transfer them until further notice.
Governance & Staking
The Polkassembly integration has been completed. This is the platform to make your voice heard through the Polkadot decentralized governance mechanisms that put the future of Pendulum in your hands. All major decisions impacting the future and direction of the project will be decided here.
The Pendulum Portal V1 is projected to go live very soon! This will be your one-stop shop for staking AMPE and PEN tokens. The Pendulum Portal that is already live on Amplitude will be enabled for Pendulum, including collator delegation (staking). The Portal will be a V1 version, and future versions will include more comprehensive tools to support all your swapping, staking, bridging and governance voting on Pendulum. At this point, only presale participants will have a $PEN balance displayed on the Portal. They will be joined by the crowdloan participants in just a few blocks.
What is Next?
Next up is the Token Transfer Event (TTE) that allows for the transfer of tokens, but not the trading of tokens. Crowdloan participants will be able to claim their PEN tokens on the Pendulum Portal.
Then comes the PEN listings on the Zenlink AMM, which will come with opportunities to earn rewards from liquidity providing. It is possible that PEN lists on a top 10 CEX around this time…stay tuned to find out! Following the Mainnet Launch and introduction of the PEN token, the 0xAmber Forex-optimized AMM and the Spacewalk bridge linking Stellar and Polkadot will become active, offering substantial APY to those who get in early with stablecoins and assets.
We are very grateful to reach this significant milestone after 18 months of hard work, support, and patience from the community. The Amplitude crowdloan was a success, raising over $1 million, and the Pendulum auction contributions hit the hard cap of 300,000 DOT in a record-breaking three minutes. We have high hopes for the future as the market begins to understand the value of on-chain Forex and the important role that a custom blockchain plays in bringing traditional finance into the world of cryptocurrency. Stay up-to-date on the launch roadmap by connecting with the Pendulum community on social media, and join us in creating a decentralized future for Forex!
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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