This marks the completion of phase 1 of Pendulum’s journey towards being a leading platform that establishes the missing link between the fiat and the DeFi ecosystems through a fiat-optimized smart contract blockchain.
Within its 3-phase launch roadmap, subsequent phases will comprise the Token Transferability Event, the Spacewalk Stellar-Polkadot Bridge launch, as well as the launch of forex-AMM 0xAmber. The goal is to complete the entire launch process by March.
The Pendulum network has already initiated block production and the first transaction was successfully executed on Pendulum’s chain. Upon completion, the native token of Pendulum, PEN, will power the fiat hub on Polkadot, transactions on Pendulum, as well as governance and staking.
Under the hood, Pendulum is built with Substrate to allow connecting DeFi applications to the $6-trillion FX market. Next up is building automated market makers to introduce scalable liquidity pools for fiat currencies and create yield earning opportunities for fiat token holders.
Alex Wilke, Co-Founder of Pendulum, said: “The launch of Pendulum’s mainnet represents a significant step towards our goal of revolutionizing the financial industry. By bridging the gap between traditional finance and DeFi, we are providing a platform that fosters financial inclusion and equality. We are excited to see how Pendulum will empower businesses and individuals to take control of their finances and achieve greater financial freedom.”
The attention from the Polkadot community would power the anticipated launch of Pendulum Portal, which will grant users access to a range of features and services, including staking opportunities and reward claiming for both AMPE and PEN token holders. In addition, the tokens will be transferable freely, enabling seamless transactions.
Following the mainnet launch and introduction of the PEN token, Pendulum will roll out several novel solutions, including the 0xAmber Forex-optimized AMM and the Spacewalk bridge linking Stellar and Polkadot will become active. With the support for a broader range of fiat-pegged stablecoins, smart contracts, banking channels integration, the project offers lucrative returns to those who get in early.
