Pendulum Unveils Blockchain Bridge “Spacewalk” to Connect Stellar and Polkadot
Berlin, Germany
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March 13, 2023 02:26 PM Eastern Daylight Time
Interoperable blockchain Pendulum has unveiled a unique bridge that connects the Stellar and Polkadot networks. “Spacewalk” is a trust-minimized bridge that supports the smooth and seamless transfer of stable assets between the two ecosystems.
The result of intensive research and development, Spacewalk is a first-of-its-kind innovation that brings the decentralized finance sector closer together. The ability to use stable digital currencies backed by traditional fiat currencies will support a range of new use cases on Polkadot and Stellar.
The bridge will bring a high degree of decentralization for transferring value between Stellar and Polkadot. Its deployment will support Pendulum’s goal of driving more significant synergies between traditional fintech services and decentralized finance.
In addition to using the bridge to move digital assets between Stellar and Polkadot, DeFi users will have the option of staking assets in Spacewalk. This opportunity will provide the liquidity necessary to support seamless transfers.
Pendulum is committed to advancing Forex trading into the blockchain space to integrate a tranche of the $6.6 trillion traded daily in Forex markets. The Spacewalk bridge will serve as a critical infrastructure, bringing stablecoin liquidity required for Forex trading to Pendulum and, in turn, to all of Polkadot and Stellar.
After connecting Polkadot and Stellar, it is expected that Spacewalk will expand to other prominent blockchain networks such as Cosmos, Ethereum, and beyond. Spacewalk will pioneer a new era of secure and decentralized blockchain bridges, merging the technologies developed for Stellar and InterBTC.
Alex Wilke, Co-Founder of Pendulum, said: "With Spacewalk, we are breaking down the barriers between different blockchain ecosystems, allowing for broader usage of Stellar stablecoins and fueling Pendulum's on-chain forex markets. This innovation marks a new era for fiat-connected decentralized finance, and we are proud to lead the charge. “
Tomer Weller, VP Product at Stellar Development Foundation, said: "Spacewalk is making interoperability a reality, showing a viable path to building trust-minimized asset-transfer bridges that connect blockchain ecosystems,” said Tomer Weller, VP of Product, Stellar Development Foundation. “The Pendulum team has been part of the Stellar ecosystem almost since its inception and it is incredible to see them expanding their reach and bringing more value and utility to the network.”
About Pendulum
Pendulum provides decentralized blockchain technology for modernizing traditional financial infrastructure. Its interoperable blockchain brings together high-quality fiat tokens in a single, powerful DeFi network. Pendulum’s Forex-optimized app ecosystem enables -seamless integration into global banking with full compliance, merging TradFi and DeFi within a scalable blockchain ecosystem.
Learn more: https://pendulumchain.org/
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Dan Edelstein
PR@MarketAcross.com
About Pendulum
Developed by fintech organization SatoshiPay, Pendulum is an open-source, fiat-optimized smart contract blockchain. Powered by Substrate, the platform is bridging the fiat and DeFi ecosystems, allowing DeFi applications to be connected to the foreign exchange market, create automated market makers for scalable liquidity pools, and generate yields for fiat token holders. With Pendulum, robust and compliant fiat-pegged tokens can be integrated into the vibrant DeFi ecosystems, addressing the ever-growing demand for fiat liquidity.
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Dan Edelstein
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