Are Forex Traders Flocking to Polkadot in 2023.24 Jan 2023 13:53
Here is the opening paragraph to the link TruthCaller kindly posted earlier :)
The year gone by has been an exciting one for the crypto industry, with no shortage of noteworthy developments taking place in regard to the decentralized and traditional finance markets. In this regard, Pendulum, a fiat-optimized blockchain infrastructure project, recently made history by securing the fastest parachain crowd loan in the history of the Polkadot’s young network.
To elaborate, the loan was funded within an hour and a half, thereby not only showcasing Pendulum’s growing market clout but also DeFi’s surging popularity.
Devised atop ‘Substrate,’ a popular blockchain-building framework, Pendulum seeks to facilitate and link the operations of various DeFi applications and protocols with the forex market. Moreover, the project delivers a holistic digital infrastructure for today’s DeFi dApps and protocols so as to create quality automated market makers (AMMs) such as Amber, enabling them to utilize forex-focused, fiat liquidity pools that are scalable. Lastly, it also allows them to unlock various yield-generation opportunities for those individuals in possession of different fiat tokens.
In essence, Pendulum seems to have its sights set on becoming the premier layer-1 for onboarding Forex traders to the blockchain, which could mean that Polkadot has the potential to become the preferred chain for forex enthusiasts in the near term.
Could this be even bigger than any of us first thought?
Thanks
Sign In
Follow the stocks
