Pendulum Unveils Blockchain Bridge “Spacewalk” to Connect Stellar and Polkadot

by Arthur · March 13, 2023

Berlin, Germany –News Direct– Pendel

Interoperable blockchain Pendulum has unveiled a unique bridge connecting 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 financial sector closer together. The ability to use stable digital currencies backed by traditional fiat currencies will support a number of new use cases for Polkadot and Stellar.

The bridge will provide a high degree of decentralization for the transfer of value between Stellar and Polkadot. The rollout 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 to stake assets in Spacewalk. This capability will provide the necessary liquidity to support seamless transfers.

Pendulum is committed to advancing Forex trading into the blockchain space to integrate a tranche of $6.6 trillion traded daily in Forex markets. The Spacewalk bridge will serve as 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, Spacewalk is expected to 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 wider use 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 effort.

Tomer Weller, VP Product at Stellar Development Foundation, said: “Spacewalk makes interoperability a reality, and shows a viable path to build trust-minimized asset transfer bridges connecting blockchain ecosystems,” said Tomer Weller, VP of Product, Stellar Development Foundation “Pendulum team has been a part of the Stellar ecosystem almost since its inception, and it’s amazing to see them expand their reach and bring more value and utility to the network.”

About Pendel

Pendulum offers decentralized blockchain technology for the modernization of traditional financial infrastructure. Its interoperable blockchain aggregates high-quality fiat tokens into a single, powerful DeFi network. Pendulum’s Forex-optimized app ecosystem enables seamless integration into global banking with full compliance, merging TradFi and DeFi into a scalable blockchain ecosystem.

Learn more: https://pendulumchain.org/

Media contact

Dan Edelstein

[email protected]

About Pendel

Developed by fintech organization SatoshiPay, Pendulum is an open source, fiat-optimized smart contract blockchain. Powered by Substrate, the platform bridges the gap between the fiat and DeFi ecosystems, allowing DeFi applications to connect to the currency market, create automated market makers for scalable liquidity pools, and generate returns for fiat token holders. With Pendulum, robust and compatible fiat-pegged tokens can be integrated into the vibrant DeFi ecosystems, meeting the ever-increasing demand for fiat liquidity.