Pendulum is very pleased and very proud of the official announcement of having the Pendulum Parachain live on the Polkadot mainnet. The highlight for them, however, is that according to their plans, this event is the first phase of their 3-phase shuttle launch game plan. The roadmap for this includes three phases: the first is the mainnet launch, the second is the token transferability event and the third is the PEN listing. According to their vision and goal, all of this should be completed by March 2023.
The mainnet launch, which is the first phase of the planned Pendulum project, plays a significant role for both the project and the connected community. It seems like more than a year has passed since the planning phase began, so the team members are certainly thrilled that it has finally been given the green light. With the establishment of the Parachain Pendulum on the Polkadot network, the first phase is now complete. The first block carries a weight of 411 nanoPEN.
Currently, management of the parachain falls under the purview of a council called sudo. It will be taken over by a decentralized community governance structure in the coming days. As for the PEN tokens, their production is complete. In this case, the tokens of the pre-sale participants will be distributed. However, you cannot trade or transfer them until you have given them the correct information.
In the case of the incorporation of PolkAssembly, the task is completed. This is, by the way, a platform where a user can listen using Polkadot’s decentralized governance methods, which give them control of Pendulum. All decisions affecting him are made at this very point. It will be the Pendulum Portal V1 that will go live in the near future. It will serve as a one-stop shop for staking AMPE and PEN tokens.
The next phase, according to the plans and roadmap, will be the Token Transfer Event (TTE). This helps to enable token transfers. However, they cannot be traded. In contrast, crowdloan participants can purchase their own PEN tokens through the Pendulum portal. The third phase then begins with the addition of PEN listings to the Zenlink AMM. Here it is possible to receive incentives by providing liquidity. The 0xAmber Forex-optimized AMM and Spacewalk bridge connecting Stellar and Polkadot will go live thereafter.
As for the pendulum, it happens to make the connection between fiat and DeFi using a fiat-maximized smart contract blockchain, which happens to be based on Polkadot’s substrates. This opens the doors for traditional financial fiat services to integrate DeFi applications such as exclusive forex AMMs, lending protocols or, for that matter, yield farming options. It happened to be developed by SatoshiPay.
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