Spacewalk Bridge Connects Stellar and Polkadot, Bringing Seamless Cross-Chain Liquidity

Spacewalk Bridge, a trust-minimized bridge connecting Stellar and Polkadot, has officially launched on the Pendulum chain. This bridge enables seamless transfers of stablecoins and tokens between DeFi applications on both networks, opening up new markets and enhancing financial inclusivity, particularly in developing regions where Stellar has a strong presence. Spacewalk allows users to bridge assets such as XLM, USDC, AUDD, NGNC, and BRL, connecting the fiat-anchored strengths of Stellar with the vibrant DeFi ecosystem of Polkadot.

Spacewalk Bridge Connects Stellar and Polkadot, Enabling Seamless Transfer of Stablecoins and Tokens

San Francisco, California, March 28, 2024 - In a significant advancement for interoperability within the blockchain industry, Spacewalk Bridge has been launched, enabling trust-minimized connections between Stellar and Polkadot ecosystems. This bridge facilitates efficient transfers of stablecoins and tokens, catering to global markets, particularly in developing regions where Stellar has a substantial presence.

Bridging the Gap Between Two Prominent Blockchains

Spacewalk Bridge, the brainchild of Pendulum, a Polkadot parachain, was announced in March 2023. Following extensive development, the bridge went live today, connecting two of the most robust blockchain networks worldwide.

The bridge plays a crucial role in connecting DeFi applications on Stellar and Polkadot, opening up new markets for financial services. Stellar's strength lies in its real-world presence, facilitating fiat-anchored payments through partnerships with industry giants like Moneygram. Polkadot, on the other hand, boasts a thriving DeFi ecosystem characterized by low fees and swift transactions.

Expanding Cross-Chain Liquidity

Through Spacewalk Bridge, users can bridge the following tokens across the two networks:

• XLM, Stellar's native token
• Stablecoins such as USDC, EURC, AUDD, NGNC, and BRL
• PEN, the native token of the Pendulum network, serves as the bridge's transaction fee currency

Initially, the Pendulum team has implemented a volume cap on assets bridged via Spacewalk as a security measure. However, this cap will be gradually increased over time.

Enhanced Financial Inclusivity

Spacewalk Bridge promises to enhance financial inclusivity, particularly in emerging economies. Millions of individuals in these regions lack access to formal financial services. The bridge can bridge this gap by enabling seamless cross-border remittances and introducing new DeFi opportunities.

At launch, anchor applications on Spacewalk include:

• A forex decentralized exchange (DEX) powered by Nabla, providing liquidity for real-world assets and crypto. It eliminates the concerns of impermanent loss.
• XLM trading on Zenlink, a DEX on Pendulum, enabling liquidity provision and rewards for Stellar users.

Simplified Bridging Process

For users transitioning from Stellar to Polkadot using Spacewalk, a video tutorial provides guidance on the process.

Positive Market Reaction

The launch of Spacewalk Bridge has been met with enthusiasm within the blockchain community. Polkadot, in a tweet, acknowledged the significance of the bridge, stating that it "unites StellarOrg's fiat-anchored currencies with the expansive DeFi capabilities of Polkadot."

About Stellar

Stellar is a decentralized payment network designed to facilitate fast and secure cross-border transactions. It is particularly popular in developing regions, enabling fiat-anchored stablecoins that mirror local currencies.

About Polkadot

Polkadot is a scalable blockchain platform that supports multiple independent chains known as parachains. It offers a secure and customizable environment for DeFi applications, enabling cross-chain interoperability.

About Pendulum

Pendulum is an open-source parachain on the Polkadot ecosystem. It serves as a bridge between Stellar and Polkadot, enabling trust-minimized asset transfers.

Disclaimer

This press release is for informational purposes only and should not be construed as investment advice. Readers are advised to conduct their own research and consult with qualified professionals before making any investment decisions.