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25 June 2021

SatoshiPay receives grant from Stellar to develop layer-2 Pendulum blockchain » CryptoNinjas

SatoshiPay receives grant from Stellar to develop layer-2 Pendulum blockchain » CryptoNinjas


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SatoshiPay, a blockchain-powered payment solution built on Stellar, announced that it has received a research and development grant from Stellar Development Foundation to start the development of the Pendulum network — a new second-layer blockchain that connects Stellar to the wider DeFi ecosystem by adding smart contract support and bridges to Ethereum and Polkadot.

To achieve this, the Stellar network needs to support custom smart contract capabilities — a premise for advanced DeFi apps  — and to establish bridges that connect it to other relevant blockchains in the ecosystem.

The proposed bridges to the Ethereum and Polkadot ecosystems will further foster the integration of traditional financial services with the booming DeFi ecosystem on these blockchain networks, allowing fiat tokens and liquidity to freely circulate between Stellar, Pendulum, and the wider DeFi economy.

Once Pendulum is up and running with AMM smart contracts deployed on Pendulum, DTransfer will benefit from instant currency exchange at more efficient and optimal rates.

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