Member Info for ragnarr

Blu - and looking ahead ‘ This strategic move is just the beginning, as the bridge is expected to expand to include other prominent blockchain networks like Cosmos and Ethereum, as well as others in the future.’

Theres are over 2300 Dapps on Ethereum and over 250 on cosmos :-)

Just reading through the last announcement I just thought it worth highlighting one comment.

‘Built upon the foundation of XCLAIM and interBTC, it functions as a Substrate pallet and can be integrated by any Substrate-based blockchain to establish a direct bridge with Stellar.’

for those interested here is a list of substrate blockchains

https://substrate.io/ecosystem/projects/

Not sure if this has already been posted but there is now a dedicated Spacewalk web page

https://pendulumchain.org/spacewalk

And if you click the start button it will take you to the latest Amplitude Portal, for those that may be interested.

Within the Pendulum repository there is a milestone file entitled - ‘Spacewalk public launch on Amplitude + 0xAmber testing ‘ - which is now shown as 100% competed and a due by date of 26th May.

These due by dates can an do go over but hey maybe tomorrow.

Ruga- lol - id be a lot happier if the sp was where it should be ;-)

Blu - looking through the Pendulum/Amplitude repositories its clear that the current activity is at the stage of fixing issues that are being tested. Severall weeks ago there seemed to be quite a large backlog but there are currently on 22 backlog issues and most of those dont appear to be high priority, so I get the feeling we are close to full launch.

Yesterday Aaron Lindner (0xamber) made this comment regarding launch od Amber AMM ‘we were more or less ready by then, but Pendulum was not. But in the meantime we've been preparing our first EVM launch in parallel, getting close..’

This would indicate a parallel launch on Ethereum or another EVM compatible Blockchain.

Latest from Amplitude twitter

The Spacewalk community launch is about to go down!

All technical requirements to implement $TZS & $BRL have been met and the Portal is being updated.

Every $AMPE holder can make history - we are about to witness the first trustless bridging of $TZS & $BRL

Gazzleberry - agree with your sentiments - its regulation we need to move forward.

https://www.reuters.com/technology/eu-states-approve-worlds-first-comprehensive-crypto-rules-2023-05-16/

Gazzleberry

Worth reading the full report - one of the conclusions/recommendations fits perfectly with Pendulum/Dtransfer

Conclusions and recommendations

1. We recognise the potential for some forms of cryptoassets and their underlying technologies to bring benefits to financial services and markets. The most convincing use case we have heard is the potential for cryptoasset technologies to improve the efficiency and reduce the cost of making payments, especially cross-border and in lower income countries with less developed financial sectors. An effective regulatory framework would support development of such technologies in the UK, while also mitigating some of the risks cryptoassets pose. We therefore welcome the Government publishing proposals for how it plans to regulate cryptoassets used in financial services. (Paragraph 30)

https://committees.parliament.uk/publications/39945/documents/194832/default/

Pablo - looking back over the debate I think I probably initiated the ‘sour taste’ of the thread which wasn't meant and for which I apologise.

Rather than us just argue over phraseology etc - i think we do agree on the basic facts.

Total PEN tokens 200m

PEN tokens Allocated 160m of which 15.2m are currently available for purchase/trading etc and the rest are currently vested for between 18-36 months (although treasury is 60 months).

After the vesting periods the owners of the tokens are at liberty to sell. And simply put this is where our opinions differ - your view is they will flood the market thereby diluting price while my view is that a majority will remain staked for collators/liquidity/gas fees etc

ATB

Pablo - There is nothing misleading in my comments. i didnt state that that vested tokens are part of the current circulating supply. You are proposing that as soon as vesting periods are completed all tokens will be dumped onto the open market immediately increasing the circulating supply. That is misleading and simply not the case. I have tried to explain why but you clearly have no wish to listen. So lets just agree to disagree. over and out on the subject.

Just thought I would add that the last scenario i painted is not on my radar. With the recent announcements re Link, nTokens, Mykobo, Get Paid Africa, Equilibrium at this early stage, as well as the launch of Amber and Spacewalk bridge I believe the future is very bright.

All IMO.

Pablo - no - the current supply is already 160m tokens issued. over the next 2-5 years some of those will of course enter the ‘open’ market but a large majority will remain staked and used for the utility purposes, and as previously stated, the larger the network grows the less PEN token will be available on the open market. And the shorter supply of the circulating token, and the larger the supply of the utility requirement the higher the price will go. The current market cap is based on the the total issued tokens.

But to be bilateral in the debate, if the Pendulum network is unsuccessful and other fintecs and dapps etc are not attracted to using the blockchain then collator staking, gas fees and liquidity staking will not be required and yes, at some point the PEN tokens will find their way onto the market place the PEN token becomes worthless.

So

The Total PEN tokens are never going to suddenly ‘hit’ the market - forgive me Pablo but that comment just displays a lack of blockchain/tokenomics understanding.

Firstly the distributed PEM tokens ate subject to a vesting period between 18 - 60 months depending on allocation, but more importantly the PEN token is first and foremost a utility token that will be used to power the transactions on the blockchain, as well as staking collators, and staking liquidity for Dapps such as AMBER.

As the network grows with fintechs and dapps built on the blockchain a vast majority of the PEN tokens will be utilised for these purposes not just for traders on exchanges.

Looks like PEN is gaining traction.

State of Crypto today 2023 A16z report

https://api.a16zcrypto.com/wp-content/uploads/2023/04/State-of-Crypto.pdf

I think it is important to stress that the Pendulum project is in the very early stages of the whole web evolution. We have experienced web 1 & 2 we are now on the brink of web 3. It is my view that in terms of progressive development we are are roughly are at about 1996, when the internet as we knew it then was about to explode. Web 3 will (in my view) change everything, its just a matter of (as individuals) whether we have the foresight and conviction to take advantage of the next phase and what is about to happen. Maybe Pendulum will be part of that, maybe not, but projects providing real world solutions are (in my view) the future, and Pendulum fits the bill. But patience is required - these developments are not easy to implement.

Ruga

Outlook March 2023

The Company has set out a clear strategy for maximising shareholder value over the next two years and is focused on achieving the key objectives it has set. The two key investments are well positioned to deliver on their strategies, and we will continue supporting them wherever possible. While Blue Star is a long-term shareholder, we must consider the most appropriate time to exit our investments and this will be a key consideration in the next twelve months. Overall, we believe the portfolio has significant upside and look forward to working with our portfolio companies to realise this value.

Anthony Fabrizi

Understanding Automated Market Makers (AMMs) - 0xAmber AMM
https://mirror.xyz/0xd277C7E99D737b7Efba5146cd7E5504C2A92F18A/ZlSBak68WrQKoQ2fwYTLyu-WLsN1leuonKbzGlXhZ9U

Yeo as Duke stated there was quite a large dump yesterday which spooked the market but it turns out it was a hack -now being looked into. Im out of the country at the moment so havnt been keeping a close eye on things and missed the opportunity to take advantage. :((
Pendulum comment.

We are currently investigating a social engineering attack on a Pendulum Community Member.

Please note: No user funds are at risk, and Pendulum is functioning as normal.

??Our team is working with MEXC, security partners, and law enforcement to resolve the situation.

??The targeted funds have been transferred to MEXC, causing a large amount of selling volume.

??Deposits to MEXC have been temporarily disabled while we investigate.

??Investigations are ongoing, and we will provide a post-mortem report once all the facts have been gathered.

Please remember that no team member will ever contact you via DM.