Pendulum Q1 2024 Ecosystem Roundup
In Q1 2024, Pendulum ecosystem has completed key milestones. We launched Spacewalk on Pendulum, expanded cross-chain capabilities, and fostered community participation. Our unwavering focus on bridging traditional finance and DeFi is moving forward, as highlighted in this quarterly roundup.
💡 Ecosystem Highlight
Stellar Uniting with Polkadot Ecosystem
Spacewalk bridge is live on both Pendulum and Amplitude, linking Polkadot and Stellar for asset transfers, including XLM and various stablecoins (USDC, EURC, AUDD, NGNC, TZS, BRL). The bridge and the Forex DEX powered by Nabla will promote efficient Forex trading and financial inclusion.
Spacewalk Reward Structure
Pendulum will roll out a dual-layer fee and reward system for Spacewalk vaults, increasing decentralization and incentivizing participation. Vault operators can earn rewards on Amplitude’s Spacewalk bridge now and learn more about the upcoming Pendulum Spacewalk vault operator rewards here:
PEN/DOT & PEN/GLMR on Pendulum’s Zenlink DEX
In Q1 2024, Pendulum introduced PEN/DOT and PEN/GLMR pools on Zenlink, with the opportunity to earn reward in PEN as LPs. This integration, particularly PEN/GLMR, facilitates gas transactions on Moonbeam’s StellaSwap via xcPEN/xcDOT pairs. These pools pave the way for future incentivized XLM.s pools bridged from Spacewalk.
Follow the guide for the PEN/DOT pool and the PEN/GLMR pool to earn rewards while becoming LPs!
Moonbeam integration & PEN listing on StellaSwap DEX
PEN is listed on Moonbeam’s StellaSwap DEX, where LPs can earn rewards in PEN and STELLA through the PEN / DOT pair, enhancing PEN’s accessibility in EVM-based DeFi ecosystems. For detailed guidance on liquidity provision, refer to the step-by-step guide.
🗺️ Roadmap Updates
This update from the Pendulum team aims to improve transparency with our community. We’re detailing the progress on our roadmap, breaking down key milestones into specific subtasks. Stay informed on how each step is contributing to our overall goals.
Spacewalk bridge is live on both Pendulum and Amplitude
- Read more here: Live on Pendulum: Spacewalk Bridge Unites Stellar & Polkadot | by Pendulum | Pendulum-Chain | Mar, 2024 | Medium
Forex AMM Launch Powered by Nabla tech
Progressing closer to launch, the team’s been busy testing Nabla on Testnet in preparation for the mainnet launch.
- A bug was found when testing Nabla on the Testnet (Foucoco). Fixing this bug requires a separate runtime upgrade on Pendulum to the latest version of Polkadot v1.1.0.
🏦 Governance Referendum
Pendulum:
- Adding PEN to HydraDX’s Omnipool — Following the successful HRMP channel establishment between Pendulum and HydraDX, there’s a discussion proposal for integrating PEN into HydraDX’s Omnipool.
- PINK Allocation (passed): After the positive feedback from the referendum to add support for XCM transfers of the PINK token on Pendulum, PEN is now part of the PINK Party for distribution!
- Spacewalk Launch on Pendulum (passed) — The referendum has successfully configured the bridge, setting a $50,000 issuance limit and enabling Stellar asset bridging to Pendulum.
- Removal of Inactive Collators (passed): The inactive collators from the Pendulum network are removed to ensure a healthy block production rate. Please check the doc to stake with an active collator.
Amplitude
- HRMP channel with Picasso (passed): Accepting the incoming channel from Picasso and introducing an outgoing HRMP channel from Amplitude to Picasso.
- Implementation of a New Treasury Pallet on Amplitude (passed): The referendum aims to introduce a new pallet on Amplitude, enabling KSM to AMPE swaps directly from the treasury,
☎️ Community Engagement
Product Pioneers 2 Campaign
The Product Pioneer 2 Campaign wrapped up on January 16, 2024, with significant community involvement. We have sent out over 30,000 $PEN in rewards to participants who undertook on-chain challenges and offered insightful feedback, reinforcing the community’s collaborative spirit.
AMA with Nabla, the technology behind Pendulum’s Forex AMM
Pendulum hosted an engaging AMA with Nabla, discussing their focus on multi-chain Forex AMMs, and future innovations like oracle-guided pricing. The AMA also dived into integrating real-world assets, community-driven governance, and Pendulum’s strategy to utilize Nabla for Forex trading enhancements.
Interview with AllInCrypto
Alex, Pendulum’s Co-Founder, shared insights with AllInCrypto on projects like the Forex AMM and Spacewalk bridge, emphasizing their role in enhancing cross-border transactions and focusing on emerging markets. The upcoming “Pendulum Pay” was highlighted as a step towards simplifying crypto adoption.
💬 Community Q&A
Wen Forex AMM?
Actually, we’ve included an update in the ‘Roadmap Updates’ section. Right now, the team is busy ironing out the last bugs on the Testnet; then, it’s mainnet time!
Will you offer more asset options on Spacewalk Bridge?
Yes, over time we will add more asset bridging options to Spacewalk.
The momentum from Q1 2024 positions us for an even more transformative year. The bridges built and the partnerships forged have laid down the groundwork for an even more exciting journey ahead.
Our success wouldn’t be possible without the unwavering support of our community. Your feedback, enthusiasm, and participation are the driving forces behind our achievements. Join our community channels to be part of the movement to put Forex on-chain!
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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