After an action packed Q1 filled with significant achievements, such as the successful launch of Pendulum parachain on the Polkadot mainnet, and the listing of $PEN on MEXC, it’s time to dive into the first two months of Q2 and explore what’s brewing in our ecosystem. Get ready for a glimpse into the evolving landscape of Pendulum as we continue to build the missing link between fiat and DeFi.
🤝 Partnership Announcements
- LINK Collaboration: Promoting digital financial services in Africa through partnership with LINK, facilitating borderless payments, yield opportunities, and on-chain Forex.
- nTokens Integration: Integrating compliant tokens, including nBRL stablecoin, into Pendulum’s ecosystem, providing secure holding and hedging of the Brazilian real.
- GetPaid.Africa Partnership: Modernizing East Africa’s financial infrastructure with GetPaid Africa, enabling smooth connections between Pendulum’s DeFi network and regional currencies for cryptocurrency payments.
- MYKOBO Alliance: Strategic partnership with MYKOBO to enable Pendulum users to access the Euro coin (EURC) on Stellar, facilitating affordable, faster, and transparent cross-border payments.
Expanding Access to Financial Services
In this strategic collaboration with LINK, nTokens, GetPaid Africa, and MYKOBO, we are revolutionising financial services globally. Together, we empower individuals and businesses with seamless access to digital financial solutions, borderless payments, yield opportunities, and on-chain Forex. Our integrated compliant tokens, including nBRL stablecoin and EURC, provide secure holding and hedging of respective fiat currencies. We modernize financial infrastructure through partnerships with GetPaid Africa and MYKOBO and enable easy connections between regional currencies and Pendulum’s DeFi network. These collaborations drive economic growth, financial inclusion, and participation in Africa and the LATAM region's digital economy.
🗜️ Integration Update
- PolkaGate Extension: With wallet integration on PolkaGate, we are enabling seamless transactions on Pendulum and offering convenient management of Polkadot and Kusama assets for the users.
- Fearless Wallet: Pendulum and $PEN tokens have been added to Fearless Wallet, providing users with easy access and management of their Pendulum assets.
- SubID Integration: Amplitude and Pendulum are now available on SubID, allowing users to track crowdloan rewards, balances across chains, NFTs, and more. Cross-chain transfers will be enabled in the future.
💻 Governance vs Social Engineering
In April, we faced a social engineering attack that targeted one of our community supporters. The attacker, disguising themselves as an admin on Telegram, gained access to the victim’s wallet and exploited their trust, compromising their PEN tokens.
By taking immediate action, we worked closely with the victim and MEXC to stop token sales and ensure community protection. With transparency and community involvement in mind, essential transactions were conducted through public referendums, enhancing governance measures. We achieved a seamless transition of vesting schedules, by transferring the remaining funds from compromised accounts to new ones controlled by the rightful owner.
We remain committed to enhancing security and educating our community on protecting their PEN tokens in the future. And we sincerely appreciate the patience and support shown by our community throughout this incident.
Check out the full article here.
📞 Community Call
- CBDC Community Call: A deep dive into the noise surrounding Central Bank Digital Currencies (CBDCs), discussing privacy concerns, cybersecurity challenges, government regulations, and the future of decentralization.
- Centauri: Composable Finance: Collaborative session with Composable Finance and Phala Network, exploring the potential of composable finance and its impact on the ecosystem.
- Alpha Growth AMA: Engaging with Alpha Growth’s community to discuss the connection between DeFi and Forex, yield on Fiat tokens, and the seamless integration of on/off-ramps.
🍻 Events
- Blockchain Economy Istanbul (8–11 May 2023): Cofounder, Alex and Head of Finance, Tansel from Pendulum participated in discussions about crypto and DeFi alongside industry leaders from around the world. Big thanks to Blockchain Economy for organizing this amazing event!
- Polkadot Prague (5th-6th June): Marcel, our Lead Blockchain Engineer at Pendulum spoke at Polkadot Prague about how Pednulum and 0xAmber smart contracts can unlock the full potential of decentralized applications.
🟡 Recap on 0xAmber
As we approach the release of 0xAmber, let’s recap its revolutionary features and provide some updates!
Not only will 0xAmber be the first ecosystem project on Pendulum, but it’s also a groundbreaking solution in the world of DeFi. By addressing the risks faced by liquidity providers (LPs) in automated market makers (AMMs), 0xAmber eliminates impermanent loss, market risk, and inventory risk. Through single-sided swap pools and an incentivized “backstop pool,” 0xAmber ensures optimal liquidity concentration, minimal slippage, and low trading fees. Its custom price curves and pool rebalancing mechanisms enhance capital efficiency, risk reduction, and revenue optimization.
If you want to dive deeper into Amber’s innovative approach, make sure to check out this thread!
🤓 Meme of The Month
The Pendulum team is gearing up to new developments on the horizon, which encompass a fully functional Spacewalk bridge on Pendulum and the live debut of 0xAmber! Don’t hesitate to engage with us via our community channels. We deeply appreciate the active community involvement as we strive to shape the future of Forex on DeFi.
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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