Singapore – January 4, 2024 – Moonbeam, the top destination for multi-chain applications on Polkadot, has announced XCM integrations between Moonbeam and three parachains: Composable, Pendulum, and Polkadex. It has been a busy few months of the XCM Front, resulting in three unique integrations to kick off the new year.
Building on the success of the previous integration between Moonriver and Picasso, Moonbeam enhances its collaboration by integrating with partner chain Composable. This new integration mirrors the prior XCM integration on Moonriver, bringing IBC assets from Cosmos and Kusama to the Moonbeam ecosystem. By harnessing the strengths of Composable’s XCM connection with Moonbeam, the integration aims to enrich the user experience and utilize the first trust-minimized bridge within and outside of the Polkadot ecosystem. Composable brings connections with Cosmos Hub, Osmosis, Celestia, Agoric and many more Cosmos app-chains. What does this integration mean for Moonbeam? Liquidity flowing into the ecosystem from Ethereum, Solana and Cosmos via a trust-minimized bridge. This has previously never existed and the lack of this technology resulted in grave consequences which can be seen from the exploits in the Nomad and Multichain bridges.
Pendulum is a Polkadot parachain smart-contract platform that specializes in connecting traditional finance and decentralized finance (DeFi), with a focus on cross-border payments and financial infrastructure. Pendulum links the Polkadot ecosystem to the Stellar Blockchain, enhancing bridging compliant fiat fintech services with DeFi across Moonbeam and Polkadot. This integration brings the PEN token to Moonbeam.
Polkadex, a non-custodial, peer-to-peer orderbook-based exchange developed on Substrate as a Polkadot parachain, delivers a trading experience which combines the best of CEXs and DEXs in one, decentralized exchange. For the Moonbeam community, this translates to exciting opportunities: Polkadex’s governance token, PDEX, is now available on Moonbeam.
This integration also means that Moonbeam projects are now a simple governance vote away from a Polkadex Orderbook listing and Moonbeam users will soon be able to trade in real time on a decentralized order book. This development not only enhances the utility and accessibility of PDEX for Moonbeam’s diverse user base but also enriches the overall ecosystem with more robust trading options and financial tools. While Moonbeam to Polkadex transfers are not currently supported on the Moonbeam dapp, Moonbeam users will soon be able to use Polkadex Orderbook to make trustless deposits from Moonbeam.
These collaborations expand the scope of DeFi activities and liquidity within the network and underscore Moonbeam’s commitment to cross-chain interoperability, allowing for seamless communication and transaction capabilities across multiple blockchain ecosystems.
About Composable
Composable and Picasso bring secure, chain-agnostic interoperability to users and builders via the extension of IBC to connected ecosystems. Picasso currently powers cross-ecosystem IBC across Polkadot, Kusama, Cosmos with 20+ connected chains. Ethereum, Solana, and NEAR will be connected soon. Most notably, the team has deployed the first Ethereum IBC connection on Testnet and announced their progress in developing the first Solana IBC connection. Composable brings to life seamless, secure, and cost-efficient intent execution across all connected chains by leveraging the various IBC connections with the addition of Composable’s CVM & MANTIS. Ultimately, the team aims to create the first super app for chain-agnostic intent execution.
About Pendulum
Pendulum is building the missing link between fiat and DeFi through a fiat-optimized smart contract blockchain based on Polkadot’s Substrate. Allowing traditional finance fiat services to integrate with DeFi applications such as specialized forex AMMs, lending protocols, or yield farming opportunities. Developed by SatoshiPay.
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About PolkaDex
Polkadex is a fully non-custodial, peer-to-peer, orderbook-based cryptocurrency exchange for the DeFi ecosystem built on Substrate and designed to become the ultimate trading engine for Web3. Polkadex has developed Polkadex Orderbook, an easy-to-use platform that combines the benefits of centralized and decentralized exchanges into one cutting-edge, non-custodial solution that caters to all crypto traders. You can now trade ASTR, iBTC, DOT, PHALA, USDT, and PDEX, on Polkadex Orderbook.
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About the Moonbeam Network
Moonbeam is a smart contract platform for building cross-chain connected applications that can access users, assets, and services on any chain. By uniting functionality from Ethereum, Cosmos, Polkadot, and more into a single platform, Moonbeam solves today’s fragmented user experience — unlocking true interoperability and paving the way for the next generation of applications. The Moonbeam platform uses integrated cross-chain messaging to allow developers to create smart contracts that access services across many remote blockchains. This approach, plus Moonbeam’s developer-friendly EVM platform, vast tool support, and modern Substrate architecture, creates the ideal development environment for building connected applications.
