A discussion is live in Pendulum governance to create additional utility for the PEN token by integrating it into the Vortex on/off-ramping app. The proposal suggests charging a fee in PEN for Vortex settlements with up to 50% of net fee revenues burnt.
SatoshiPay has received a Web3 Foundation grant for further development of their Vortex fiat ramp, built on Pendulum. The grant will accelerate work on a Polkadot offramp, expanding stablecoin availability on parachains via XCM, launching in emerging LATAM markets, and upgrading the Stellar-Polkadot Spacewalk bridge to remove the limitations of liquidity-locking vaults.
Pendulum announces PEN Tokenomics 2.0 which will will halt new token issuance, burn 162M tokens, cap the maximum total supply to 150M, and divert unused token allocations to the Pendulum treasury. With the treasury coffers boosted to 55.6M PEN, opportunities open up for the community to fund initiatives such as liquidity incentives and development projects.
Week 4 of the Stellaswap Dot Incentive campaign has kicked off. This is the first round of boosts to Polkadot parachain projects, with additional DOT rewards boosting the BNC-DOT, MANTA-DOT, NCTR-DOT, and PEN-DOT pools. The BNC pool led the charge with initial APRS of 500%!