February 2024 Ecosystem Roundup

4 min readMar 6, 2024


This month's roundup highlights key milestones, including the expansion of stablecoins on Amplitude’s Spacewalk Bridge, and pivotal governance updates that move us closer to an Open Finance future. Let's dive into it!

💡 Ecosystem Highlight

Expanding Stablecoins on Amplitude’s Spacewalk Bridge

Amplitude’s Spacewalk now supports new stablecoins from the Stellar Network & Kusama, including EURC, AUDD, and NGNC. Try bridging these yourself here.

One-click Option To Unlock Staked PEN

In response to community feedback, the Pendulum Portal now features a one-click option to unlock staked PEN, with backend improvements soon to follow.

Ledger Upgrade for Seamless $PEN Transactions

Ledger firmware 10.10.0 upgrade issues have been resolved, enabling smooth $PEN transactions via Talisman wallet for all users.

🏦 Governance Updates

  • HydraDX HRMP Channel (passed) — The successful proposal paved the way for a bi-directional HRMP channel between Pendulum and HydraDX.
  • Spacewalk Launch on Pendulum (passed) — The recent referendum has successfully configured the bridge, setting a $50,000 issuance limit and enabling Stellar asset bridging to Pendulum.
  • Zenlink Integration on Pendulum: Referendum to activate new Zenlink pools on Pendulum. Expect new liquidity pools for PEN and Spacewalk token holders with pairs like PEN/GLMR, DOT/PEN, XLM.s/DOT, and XLM.s/PEN soon.
  • Removal of Inactive Collators: To ensure a healthy block production rate, this referendum focuses on the removal of inactive collators from the Pendulum network.

🧑‍💻 Tech Updates

Runtime Version 13 Rollout:

  • Upgraded to runtime version 13.
  • Included updates to the Spacewalk pallets, addressing a critical issue in price conversions for assets with different decimal representations.

Spacewalk Developments:

  • Completed the preparation and execution of the root transaction essential for the Spacewalk launch.
  • Configured all necessary parameters and enabled the on-chain price oracle.
  • Addressed a significant bug in price conversion logic for assets with mismatched decimal places (e.g., DOT with 10 decimals and Wrapped Assets with 12 decimals), ensuring accurate valuation across different asset types. This was fixed in the version 13 runtime upgrade.

Integration and Liquidity Enhancements:

  • Successfully integrated Pendulum with the Zenlink DEX UI.
  • Added new assets to the Pendulum/Amplitude liquidity pools. Merged and live.

Forex DEX Powered by Nabla Updates:

  • Resolved a bug that prevented users from depositing liquidity into pools.
  • Adjustments to the indexer to align with the latest Nabla version, ensuring data accuracy.

💬 Community Q&A

When will there finally be more listings on DEXs? Will PEN also be available on StellaSwap or BeamSwap?

  • PEN is already available on StellaSwap! To stay up to date on the latest listings, make sure you’re following our Twitter, you’ll hear about it first there

Why is Pendulum spending money on events when the product isn’t ready?

  • One key reason is at the core of Web3: community. As we navigate this crucial product-building phase, we’re committed to developing alongside our community. Engaging with our community is essential, and we embrace every opportunity to do so.

Why are there still UI issues on the portal?

  • The issues are being resolved. Soon, you’ll be able to ‘unlock’ staked tokens naively on the portal — no more need to use Polkadot JS.

☎️ Community Engagement

Rewards for Product Pioneer 2 is out!

A big thank you to participants of the Product Pioneer 2 campaign, the rewards have now been distributed. Stay tuned for future campaigns!

🥂 Event

ETH Denver 2024

Pendulum attended the ETH Denver 2024, where our Head of Marketing, Liam, engaged with attendees and partners at the Polkadot booth. It was a great time to share insights, build connections, and make frens.

🧵 KOL’s Content Highlight

Interview with AllInCrypto

Pendulum’s Co-Founder, Alex discussed key initiatives with AllInCrypto like the Forex AMM and Spacewalk bridge in an interview with AllInCrypto, highlighting Pendulum’s impact on cross-border payments and its strategic focus on emerging markets. Upcoming Pendulum Pay aims at simplifying crypto onboarding and payments, further bridging traditional finance and digital currencies.

As we close this month, we are thankful for your support, and we’re excited to continue this momentum leading up to the pivotal launches of Spacewalk bridge and the Forex AMM powered by Nabla.

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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Traditional finance infrastructure blockchain. The missing link between fiat and DeFi. Limitless fiat. Decentralized future.