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Prefer the colour blue to red:-)
Homer's "Wine dark sea" (oînops póntos)
Thank you slowroll - currently around the Aegan Sea.
More rekated industry news that is very good for Pendulum. The stellar network arr getting closer to developing smart contract capability (currently the network doesnt support smart contracts)
https://stellar.org/blog/project-jump-cannon-soroban-preview-release?locale=en
In simple terms this is great news for Pendulum/Amplitude/Spacewalk as it will increase demand for bridging over to Steller. Big win
How the hell we still have all these stupid buggers selling at a loss last 30 mins everyday they should **** off
Related Polkadot news very good for Pendulum medium term. Acal and Astar hetworks have joined forces in a Pertnership to ‘supercharge DeFi on Polkadot.
https://cryptobriefing.com/astar-network-and-acala-announce-partnership-in-a-major-boost-to-defi-on-polkadot/
You may remember that Acala and Pendulum have partnered to Integrate aUSD Stablecoin. Doesnt help the Sp in the immediate but really good for the Pendulum Parachain when launched.
https://medium.com/pendulum-chain/pendulum-and-amplitude-partner-with-acala-to-integrate-ausd-stablecoin-f0953d314d77
As I have been saying 12-18 months but now reviewed to 6-12 months
2/2
For example, DeFi platforms use a concept called yield farming. This is when users stake or lend crypto assets to a DeFi network in order to generate returns (or rewards) in the shape of crypto tokens. This process can be pretty complex, with users required to lock up funds in liquidity pools underpinned by smart contracts.
In this instance, DeFi networks can offer more favourable yields to attract liquidity to the protocol, which it needs to fully function. However, the yield offered is dependent on several factors, including the demand for a token, and the amount of collateral provided when borrowing.
Could DeFi be the future of finance?
It has the potential to become a widely recognised alternative financial system. As crypto adoption and acceptance accelerates, it’s likely that DeFi use will grow alongside it.
The fact it can help users gain total control of their finances, generate wealth and improve financial efficiency, makes for an exciting proposition.
However, DeFi still has a long way to go, and it has a lot to answer for in terms of its usability and financial stability.
DeFi is complex for the crypto novice, and it brings several unknowns.
Obtaining certain DeFi tokens requires several stages, including coin conversion and setting up wallets. Understanding the range of options on a platform, such as staking, yielding and token swapping, can also cause confusion and prevent it from being used to its full potential.
The technology is still at a nascent stage and has several vulnerabilities relating to crypto price volatility, liquidity mismatches, security breaches and its ability to absorb shocks.
For example, Anchor protocol, a decentralised borrowing and lending platform, fell victim to the Terra Luna crypto crash earlier this year.
The crash saw Terra lose its unofficial “peg” to the US dollar following market manipulation, causing the value of ANC, Anchor’s protocol token underpinned by the Terra blockchain, to drop 99.2%. At the same time, liquidity locked up in the platform lost the majority of its value, sparking panic and chaos across the Anchor ecosystem.
These events served as a reminder of the risks of DeFi, which doesn’t have the safety net of regulation.
Nevertheless, the absence of things like centralised control and oversight is helping to open up innovation in the DeFi space, although it will stand for nothing if the security and usability of DeFi doesn’t improve and encourage mass adoption.
useful for any newcomers ......
What is “DeFi”?
DeFi, short for decentralised finance, is an umbrella term for peer-to-peer financial products available on crypto networks.
The term “decentralised” means a network with no central point of failure or control. Think about it like this…
The Bank of England determines monetary policy in the UK. The Monetary Policy Committee (MPC) has nine members. These nine people determine the bank rate and influence the financial futures of millions of British people.
Nine people determining the impact on the livelihoods of millions.
That is a very concentrated, centralised, power imbalance.
DeFi aims to eliminate that concentration and centralisation of control and influence to the wider network of peers.
DeFi is built on banking concepts found in traditional finance systems. That is, it allows a fully functioning financial system using financial tools such as collateralised lending, borrowing, insurance and payments.
In DeFi, value is typically exchanged through crypto. This is sometimes volatile crypto like bitcoin or Ethereum, or sometimes it can be through the use of “stablecoins” pegged to fiat currency like USDT, which is pegged to the US dollar.
In allowing participants to BYOB (be your own bank) DeFi opens up finance in many areas such as:
24/7 cross-border payments and remittance
instant payment settlement with low transaction fees
Borrowing and lending
Higher interest crypto savings accounts
Market making.
DeFi puts power and control over money and finance into the hands of the individual. It doesn’t discriminate, it is open, accessible and provides alternative finance options to people anywhere, anytime.
How does it work?
DeFi at its core is peer-to-peer technology. That means it’s an open-source financial system using smart contracts.
Each DeFi network has a set of smart contracts which automatically execute when triggered. This helps create an interoperable, self-governing network. For example, in DeFi exchanges, smart contracts automatically match, verify and settle transactions between buyers and sellers of a particular token.
When a transaction is executed using smart contracts, the action is recorded and made publicly available on the blockchain. Counterparty risk is also reduced, because the contractual obligation for a transaction is built into a smart contract, which lies out of the participant’s control. Finally, coded automation of smart contracts means they can be executed instantly with no friction.
Most DeFi protocols operate on the Ethereum blockchain due to its infrastructure. It easily accommodates smart contracts and decentralised apps, which many DeFi networks are built upon.
Although DeFi uses traditional banking ideas, such as borrowing and lending, it has its own mechanisms in place that you can’t really find in the TradFi world.
I've reached Cairn (Nomad) who's on the case now and promised a response or some action this afternoon.
Lets see...
Agreed Dave, lots of red flags.
I am here for the duration as I don't have a huge holding so am prepared to wait a while longer for ANY Sort of news which may bolster support.
Gla
Plutuq,
Don't forget about when it went from .15s to .40s... There was a speeding ticket issued pretty quickly for that one.
Nothing on the way back down though.
I honestly can't believe that anyone here as any confidence in this bod.
Duke went to see him a month or so ago and from what he wrote, hardly waxed lyrical with his meeting with him.
Ragnarr research and information here has been simply brilliant and almost certainly kept a lot from moving to pastures new.
4 months now from Dynasty news and nothing since.
Horrible.
I think an awful lot of investors have lost all confidence in the BOD right now.
Sp drop from .6 to .2 without even a single word has added to this. I bought in at .17 and felt extremely confident when it went to .5, now I feel that some form of reporting is needed before it sinks to the deepest depths :-(
It sounds like the board are not doing their job correctly, I have been buying on interactive investor with no problems, trying to judge the bottom is the biggest problem. Good luck all, hopefully we will do well.
agree that ragnarrs research is superb for any serious investor.
we now need the Blue Star board to become serious, if dealing restrictions remain, due to poor admin, then the FCA need to know about this and the share suspended whilst a false market is resolved.
if the stock is suspended due to this then both the Financial Director and Lew must go !!!
Any way Ragnarr ...have a good summer hope it's somewhere nice. Thanks for all you have done.
This may all crossover with Ragnarrs great work .... apologies if so....
Gm Pendulum People, the time has come to decentralize forex Let’s dive into the updates!
Did You Know
Amber AMM Whitepaper Released
Amber will be the first AMM built on Pendulum. Check out the Amber Whitepaper to learn how its forex-optimization can open the floodgates for FX liquidity to flow into DeFi, all without impermanent loss! Unsure how AMMs work or what impermanent loss really means? Learn more from our recent AMM explainer article.
Latest Updates
Decentralized Forex & Stablecoins on Pendulum
CTO Torsten was rocking the stage yet again at ParisDOT. His talk covered Spacewalk bridge as well as how Amber will launch on Pendulum as a forex optimized proactive market maker. Making Forex on-chain trading viable at last!
Amplitude Parachain Launching Soon
Check out this twitter thread to learn more about the Amplitude & Pendulum roadmap that includes fiat on/off ramps, forex-optimized AMMs, XCMP integration and cross-chain bridges. The lease slot on Kusama
has opened and we expect Amplitude to be live soon. Get all launch details and learn about our road to democratization.
Events
August 11th hosts DeFiCon in New York and the Blockchain Futurist Conference in Toronto is happening right now. Our CEO Alex and CMO Daniel are meeting builders, VCs, parachains, fintech's and our ecosystem community.
Community
Community Call
Thank you for all the great questions during our Community Call with Bifrost, Interlay and Amber. Click below to revisit this insightful discussion and keep an eye out for more Community Calls that you can get involved with!
Grants Program
Remember we are offering funding and support to builders looking to develop infrastructure on Pendulum.
Apply for a Grant
Ambassador Program
The Ambassador Program launched recently and we’ve received well over 250 applications so far. Thank you for sharing our excitement to grow the AMPEN community.
Those are the updates! Remember our legendary Community Manager Jonathan alongside the new Brand Ambassadors are waiting for you in the Telegram and Discord channels!
Top up cahus when company goes into administration like finablr
Keep you hat on Muscles haha lol
Well said Gazzleberry
When is the best time to load up? Are we at the bottom yet? Already topped up twice but still down 40%!!! WTF is happening here?
You know my comments about you Muscles
Flea spray required here
Muscles12 - I vote for you to shut it…. Ragnar is not ramping he provides very good information and is very welcome to continue to do so to keep us all updated.
Thank ragnarr, Your closing comment is crucial. If these systems are robust and secure the rewards will be huge. As I have stated previously, I think December 22 will be a very interesting month for BLU.
Pink - the best I can offer at present is the roadmap https://pendulumchain.org/ everything seems to be on track - first phase of Amplitude kasuma launch later this week/ early next
Just for info I am away for the summer so won’t be posting as often as usual but keep an eye on developments as looking forward to Q4