The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
🔥major announcement🔥
firstly, here are a few important points we covered on our discord ama last week:
for info - nabla announcement on telegram
🤟here comes the big announcement 🤟
⚡️soon, we will start a private pre-sale of $nabla, an invite-only opportunity for select kols and defi angels. as an extra goodie for the $amber point holders, you are invited to join this round on the same terms.
⚡️to join the pre-sale, you need to mint a special soulbound nft(sbt) that we will drop on april 10th.
https://www.coinvise.co/nablafi/pre-sale
⚡️the pre-sale allocation per wallet will be a minimum of 1000 usdc and a maximum of 5000 usdc.
⚡️kyc will be required, and citizens/residents of the following countries are excluded from participating: afghanistan, american samoa, angola, armenia, azerbaijan, balkans, belarus, bosnia and herzegovina, botswana, burma (myanmar), burundi, cambodia, cameroon, central african republic, chad, crimea of ukraine, cuba, democratic people's republic of korea, democratic republic of the congo, eritrea, ethiopia, ghana, guam, guinea, guinea-bissau, haiti, iran, iraq, laos, lebanon, liberia, libya, madagascar, mali, mozambique, nicaragua, northern mariana islands, ****stan, puerto rico, republic of the congo, russia, somalia, south sudan, sri lanka, sudan, syrian arab republic, tajikistan, trinidad and tobago, turkmenistan, uganda, united states, uzbekistan, vanuatu, venezuela, virgin islands (u.s.), yemen, and zimbabwe.
⚡️since this is a private round, we can not share the details publicly (for legal reasons) and will share them only with the sbt holders interested in joining.
SlowRoll - I am still holding here but not looking in so much as the vast majority of my portfolio is in crypto now and obviously performing much better than BLU. The dynasty debacle was outrageous and but I still firmly believe Pendulum/Nabla/spacewalk will come good.
Slug - re timescale for Pendulumpay the MVP has already been developed for testing Q3 Last year - Roadmap shows versions launching this Half - obviously could be delayed but unlikely 2 years.
Regarding the actual project Pendulumpay does have huge potential. One of the biggest barriers for the masses entering the crypto space is user-friendly fiat/crypto entrance platform - see the nearest model as something like alchemy-pay (https://alchemypay.org/)
Of course they still have to get it done and do it right but in principle it all makes a lot of sense to me.
Https://allincrypto.com/alex-wilkey-the-co-founder-of-pendulum-revolutionizing-cross-border-payments/
Looking Ahead: Pendulum Pay and Broader Adoption
Looking forward, Pendulum plans to launch Pendulum Pay, a platform aiming to simplify the process of on-ramping into the crypto space. This development is particularly exciting as it promises to bring Pendulum’s vision closer to reality, making blockchain-based financial services accessible to a broader audience, including small and medium-sized enterprises (SMEs).
BTC and the general crypto market has clearly entered the bull market with many already multiplying but on the whole Defi hasn’t caught up and in particular the Polkadot ecosystem has (at present) been left behind only making small gains by comparison - For example BTC has now pretty well reclaimed its all time high when DOT remains under 10USD when its ATH was 54USD.
General consensus is with Polkadot 2 launch this should change with related parachain coins catching up as well - Could/should be good for PEN/NABLA
Bernstein analysts predict a defi comeback.
https://www.theblock.co/post/280396/big-bang-defi-comeback-bernstein?utm_source=twitter&utm_medium=social
Https://medium.com/pendulum-chain/january-2024-ecosystem-roundup-fed50f580919
Pendulum opening up a channel with Hydra DX
This proposal aims to complete the first of many steps required to open a bi-directional HRMP channel between Pendulum and HydraDX.
Initially, its primary function will be to facilitate the movement of PEN tokens across both networks. However, the scope could broaden to include additional applications such as incorporating PEN into HydraDX's liquidity pools.
https://pendulum.polkassembly.io/referendum/18
https://hydradx.io/
Slug - I have to disagree with your perspective of the Pendulum leadership. From my personal experience, the people involved are completely dedicated to realising their fiat-defi vision of Pendulum and the potential it has. However i do understand your reluctance to accept this. As a person of a certain age it has taken some time try to understand the way of thinking of the completely new concept of crypto and the mindset of the people progressing this ‘brave hew world’.
Whether they are right or wrong I do not question their commitment.
Over on the Pendulum discord channel there was a really good explanation posted of what Spacewalk is aiming to achieve - thought some here may be interested in it.
When referring to Spacewalk as "Trust-Minimized," it signifies that the bridge reduces the amount of trust placed in any single entity during the bridging process. This translates to several advantages compared to traditional bridges:
Reduced reliance on centralized parties: In conventional bridges, a central authority often controls crucial aspects like asset custody and transaction validation. This introduces a potential vulnerability if the central party is compromised or malfunctions. Spacewalk aims to minimize this reliance through:
Multi-signature threshold: Transactions require approval from multiple independent validators, distributing trust and preventing any single entity from manipulating the bridge.
Decentralized oracle network: Price feeds and other data used for bridging come from multiple independent oracles, reducing reliance on a single source of information.
Open-source code: The codebase is publicly available, allowing anyone to inspect and verify its functionality, fostering transparency and community trust.
Enhanced security: By minimizing trust in any single entity, Spacewalk aims to make it more difficult for attackers to exploit vulnerabilities. Additionally:
Formal verification: Critical parts of the code undergo rigorous formal verification processes, mathematically proving their correctness and reducing the risk of hidden bugs.
Post-quantum cryptography: Spacewalk utilizes advanced cryptography resistant to future advancements in computing power, making it more secure against potential attacks in the long run.
Potential benefits over other bridges:
Increased trust and transparency: Reducing reliance on centralized entities can make users feel more secure about their assets and the overall fairness of the bridge.
Enhanced security: The combination of trust minimization and advanced security measures could potentially make Spacewalk more resistant to attacks than traditional bridges.
Decentralized future: Spacewalk's focus on decentralization aligns with the broader trend of Web3 and DeFi, potentially making it a well-positioned bridge for future developments.
However, it's important to remember:
Spacewalk is still under development: While promising, it's crucial to acknowledge its relative novelty and the inherent risks associated with using any new technology.
Trade-offs might exist: Minimizing trust can sometimes lead to trade-offs in terms of efficiency or scalability. Thorough research is essential before using any bridge.
I hope this explanation clarifies the meaning of "Trust-Minimized" in the context of Spacewalk and highlights its potential advantages. Remember, conducting your own research and understanding the associated risks are crucial before using any bridge or engaging in any DeFi activity.
Testnet Alpha finished - another step forward
https://app.nabla.fi/
Coinbase have just released a report ‘The staye of crypto - fairer, cheaper, faster every day finance’
Interesting read
https://assets.ctfassets.net/c5bd0wqjc7v0/21anp1rDnuWmZ0goVRaAJR/d72543996c34bd25aaa33bf3ece4ac2c/Q4_2023_State_of_Crypto_-FINAL_2.5.24-.pdf
Blu - Certainly wouldnt say i was happy with current BLU SP but I probably had lower expectations of timescale than most - but happy with my PEN holding as average around 0.06.
Anyway - a bit more PR
https://medium.com/pendulum-chain/advanced-automated-market-making-how-nabla-technology-is-changing-the-game-for-forex-18d20390ade6
Https://medium.com/pendulum-chain/january-2024-ecosystem-roundup-fed50f580919
Today the referendum to authorise runtime upgrade for Pendulum release 12 - which basically allows for the launch of Spacewalk bridge on Pendulum. Not sure how long after the referendum is passed that the upgrade is run, but it wont be long.