Pendulum, a public blockchain connecting the FX market to decentralized finance, marks a significant milestone for both the project and its community with the successful mainnet launch of its Polkadot parachain.
This marks the completion of Phase 1 on Pendulum’s journey to become a leading platform bridging the missing link between the fiat and DeFi ecosystems through a fiat-optimized smart contract blockchain.
Within the three-phase launch roadmap, subsequent phases include the Token Transferability Event, the Spacewalk Stellar-Polkadot Bridge launch, and 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 has been successfully completed on the Pendulum chain. Upon completion, Pendulum’s native token, PEN, will power the fiat hub on Polkadot, transactions on Pendulum, and governance and staking.
Under the hood, Pendulum is built with Substrate to enable connecting DeFi applications to the $6 trillion FX market. Next, automated market makers will be built to introduce scalable fiat currency liquidity pools and create revenue opportunities for fiat token holders.
Alex Wilke, co-founder of Pendulum, said: “The launch of Pendulum’s mainnet is a significant step towards our goal of revolutionizing the financial industry. By bridging the gap between traditional finance and DeFi, we provide a platform that promotes financial inclusion and equality. We are excited to see how Pendulum will empower businesses and individuals to take control of their finances and gain greater financial freedom.”
Polkadot community attention would fuel the expected launch of the Pendulum portal, which will grant users access to a range of features and services, including staking opportunities and rewards for AMPE and PEN token holders. Additionally, the tokens will be freely transferable, allowing for seamless transactions.
After the launch of the mainnet and the launch of the PEN token, Pendulum will launch several novel solutions including the AMM optimized for 0xAmber Forex and the Spacewalk bridge connecting Stellar and Polkadot will become active. With support for a broader range of fiat-pegged stablecoins, smart contracts, and banking channel integration, the project offers lucrative returns for those who get in early.
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