What is Pendulum?
Discover how Pendulum, the fiat hub, is building the blockchain infrastructure for traditional finance
Pendulum is a blockchain offering composable fiat services to swing fintech companies into the DeFi future. In August 2021 we published the article below introducing Pendulum to the world.
Introducing Pendulum: smart blockchain connecting Fiat and DeFi
Since the beginning of the year, we have been working on developing Pendulum, an open-source blockchain that aims to…
The core vision remains the same but so much technical development, community initiatives, and product progress has happened in the past year. This article dives deep into what exactly is Pendulum in November 2022.
Pendulum’s vision is to build the missing link between fiat and DeFi through a fiat-optimized smart contract blockchain. Creating on-chain utility for a wide range of fiat currencies and fintech services can pioneer an open & inclusive financial future. Traditional finance services like forex, trade financing, or savings accounts can seamlessly integrate with DeFi applications such as specialized forex AMMs, lending protocols, and yield farming opportunities. Pendulum will operate as a key piece of Web3 infrastructure to finally unlock DeFi use cases for a multitude of fiat currencies. The goal is to create an open financial future that overcomes borders and fosters economic inclusion. The internet of fiat for everyone.
Polkadot Beginning, Multi-Chain Future
Building Pendulum on Polkadot’s Substrate framework maximizes multi-chain interoperability. Spacewalk bridge will connect the multitude of fiat stable tokens on the Stellar blockchain with Pendulum and all Substrate-based networks. The Spacewalk bridge roadmap also has plans to connect Pendulum to other DeFi ecosystems like Ethereum, Cosmos, and more. Spacewalk bridge launch is projected for Q1 2023. This will give fintech services and fiat currencies access to as many blockchain opportunities in Web3 as possible. This Polkadot beginning also allows Pendulum to utilize WASM technology and benefit from the high performance of WebAssembly smart contracts.
The daily volume of the foreign exchange market is on average around $6.6 trillion. Pendulum aims to bring a chunk of this deep fiat liquidity into the DeFi ecosystem. Imagine the opportunities that traditional finance could offer their customers around the world once local currencies like the Euro, Mexican Pesos, and Turkish Lira can be used within DeFi.
After Pendulum goes to mainnet then the building of ecosystem dApps goes into full gear. The Pendulum Ecosystem Grant program is already in talks with projects, developers, and builders. So too is the Amplitude Grants Program. One of the first dApps to go live on Pendulum will be the Amber AMM. Perhaps PMM (Proactive Market Maker) is a more apt term to describe Amber. Regardless, it has been specifically designed to be a forex-optimized AMM and you can read the Whitepaper to learn how its unique architecture solves the problem of impermanent loss (don’t take our word for it, check out the whitepaper).
Amplitude & Pendulum
In June 2022 Amplitude won a Kusama parachain slot after over $1M was contributed and the rollout is in full swing. Amplitude chain is the sister network of Pendulum on Kusama. It acts as the testing ground for Pendulum applications and network parameters and is powered by the AMPE token. Pendulum will bid for a Polkadot parachain slot on December 16th. All contributors will be rewarded with PEN tokens so keep an eye on our socials for announcements.
Get involved with Pendulum
Pendulum is on a mission to pioneer the internet of fiat. The next few months are set to be a roller coaster ride with the Polkadot auction, PEN token TGE (token generation event), mainnet launch, Spacewalk launch and more! There are many ways to get involved with Pendulum not limited to:
- Help grow the community by becoming an Ambassador
- Get funded by our ecosystem Grant Program to build on Pendulum & Amplitude
- Run an Amplitude parachain node by becoming a Collator
And of course everyone is welcome to join the Pendulum Telegram Community and Discord community to join us in swinging traditional finance into DeFi. An open financial future that overcomes borders and fosters economic inclusion is on the horizon.
Pioneering the internet of fiat. Amplitude is the sister network of Pendulum on Kusama. It acts as the testing ground for Pendulum applications and network parameters and is powered by the AMPE token.
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.