RE: 22% spread????14 Nov 2021 21:05
https://coinix.capital/pressemitteilung_pendulum/
Translation.
Hamburg, November 04, 2021 - The investment company coinIX GmbH & Co. KGaA, which specializes in investments in digital assets and blockchain technology, is expanding its portfolio through a partnership and the acquisition of a position in Pendulum.
Pendulum raised $5 million in an oversubscribed private sale round of the future PEN token with strategic partners from around the world. Other participants in the pre-sale included LD Capital, Duck DAO, 6K Starter, CRT Capital, and high-profile angel investors such as Daniel Masters and Shiyan Koh (Hustle Fund). The capital raised through the private sale will be used to continue building Pendulum, a blockchain that bridges the gap between fiat and decentralized finance ("DeFi").
Pendulum is a blockchain with ambitions to become the missing link between fiat and DeFi ecosystems.
SatoshiPay recognized the need for this type of blockchain when building its DTransfer payment service. Meinhard Benn, CEO of SatoshiPay, commented, "We developed the Pendulum Blockchain to connect the world's currencies with decentralized finance. The last few months have already been a great journey for Pendulum from initial idea to prototype and successful private pre-sale of PEN, and of course we're just at the beginning."
The blockchain project was launched in May 2021 with a grant from the Stellar Development Foundation for research and development. The first prototype of Pendulum, which is a bridge to Stellar and an automated market maker (AMM), is now available on Pendulum's internal testnet.
With Stellar's 15+ fiat currency tokens and local integrations with traditional banking infrastructure, Pendulum's smart contract capabilities, and bridges to Ethereum and Polkadot, the DeFi ecosystem will have access to the immense liquidity of the foreign exchange markets.
Stellar-based services can leverage all types of DeFi protocols focused on fiat tokens, including automated market makers (AMMs) that enable FX trading without intermediaries, or credit protocols for instant liquidity in multiple currencies.
Next steps for Pendulum include a public testnet and mainnet, the introduction of performant smart contracts to the Stellar network, and the simultaneous expansion of the Polkadot/Kusama ecosystem to include a range of robust fiat assets. As the Pendulum project grows at a remarkable pace, the team is looking for additional developers.
Susanne Fromm, CEO of coinIX, is pleased to support Pendulum as an investor, "Pendulum creates a bridge between fiat stablecoins on the Stellar network and the Ethereum and Polkadot ecosystems. This opens up opportunities for new user groups to earn DeFi returns and encourages mass adoption of decentralized financial systems."