Spacewalk Bridge: Public Launch on Amplitude Now Live!
The eagerly awaited public launch of the Spacewalk bridge is here! Spacewalk bridge is now live and fully operational on Pendulum’s canary network Amplitude, and is accessible to all users. Spacewalk presents a trust-minimized, decentralized bridging solution that seamlessly connects the Polkadot and Stellar blockchain ecosystems, facilitating the efficient transfer of various fiat-backed stablecoins and cryptocurrency assets. This integration paves the way for leveraging Stellar’s fiat-anchored stable currencies within Polkadot’s dynamic DeFi landscape.
In addition to XLM, Stellar’s native token, the following stablecoins are now bridgeable through Spacewalk:
Coming soon:
AMPE, the native token of Amplitude, will serve as the transaction fee currency within the network. Spacewalk bridge access is currently available to all and will soon go live on Pendulum mainnet soon following a successful governance referendum. The number of assets that can be bridged is subject to limits based on vault collateral. Upon the successful completion of the testing phase, we anticipate lifting existing limitations and introducing rewards for vault operators. Learn how to set up a Spacewalk vault here and start using Spacewalk bridge here.
Onchain Forex Trading For All
Pendulum is dedicated to the goal of integrating Forex trading with blockchain technology. Considering the Forex market’s substantial daily volume of $6.6 trillion, this mission is quite ambitious. Another primary objective of Pendulum’s mission is to advance financial inclusion. To this end, the Spacewalk bridge will incorporate a range of exotic stablecoins, including those pegged to the Tanzanian Shilling, the Nigerian Naira and the Brazilian Real. This initiative is designed to provide emerging economies with the opportunity to access the advantages offered by DeFi. Learn more about Pendulum’s partnership with ClickPesa to utilize DeFi to provide Tanzanian businesses with micro-financing.
Nabla’s Forex-Optimized AMM
The significance of onchain Forex is further supported by the detailed research paper from Uniswap and Circle published in January 2023, which examines the intricacies of onchain Forex trading and notes its emerging acceptance in the broader financial market. Nabla will be the first dApp live on Pendulum. As a highly optimized AMM (or more aptly referred to as a PMM, Proactive Market Maker) Nabla will provide the infrastructure for onchain Forex swaps. Nabla’s system facilitates single-sided liquidity provision with no impermanent loss. Learn more about Nabla and the challenges of getting Forex liquidity onchain here:
Summary
Spacewalk bridge is now live to the public on Amplitude, facilitating the transfer of multiple stablecoins between the Polkadot and Stellar networks, with a view to expand financial inclusivity in DeFi for emerging economies. Spacewalk is gearing up for its launch on the Pendulum mainnet in the coming weeks, while the debut of Nabla’s Forex-optimized AMM is also approaching. Now is the ideal time to join our community, stay informed with the latest updates on our social media channels, and contribute to making DeFi accessible to everyone.
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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