Open HRMP Channels between Pendulum and Astar

Governance Offchain Discussions
1

TL;DR

We propose to open HRMP communication between Astar network and Pendulum. This will require actions on both chains.

Summary

We propose to open a bi-directional HRMP channel between Astar Network and Pendulum. The primary use cases will be:

  1. Pendulum assets including PEN and bridged assets from Stellar can be transferred to Astar to be used in the ecosystem.
  2. Astar assets can be utilized within the Pendulum ecosystem.

Proposal

There is no on-chain proposal. The proposal created in this forum acts as an official proposal between Pendulum and Astar Network.

Technical details (WIP)

The procedure for opening the channels is as follows:

  1. Pendulum initializes a proposal to open Pendulum to the Astar Network HRMP channel via the Astar forum.
  2. Wait until the proposal on step 1 gets approved & enacted.
  3. Astar Network proposes to accept the Pendulum to Astar Network HRMP channel and open an Astar Network to Pendulum HRMP channel via Astar MuliSig Governance Batch call.
  4. Wait until the proposal on step 5 gets approved & enacted.
  5. Pendulum accepts the Astar Network to Pendulum HRMP channel.
  6. Wait for another session on Polkadot for the change to be effective.
7 Likes
2

I really like the ideas of opening HRMP channels between Astar and other chains, it speaks of how well integrated the ecosystem wants to be.

I support the proposal!

3 Likes
3

Welcome and welcome!

Since I know some of the community may not know about Pendulum, I will quote the introduction from the documentation.

What is Pendulum?

Pendulum Chain is a smart contract blockchain network connecting fiat rails to the decentralized finance ecosystem. By bridging robust and compliant fiat-pegged tokens from the most prominent blockchain networks into the vibrant DeFi ecosystems, Pendulum addresses the ever-growing demand for fiat liquidity in DeFi. Behind the development of the open Pendulum protocol is SatoshiPay, a fintech company which has developed blockchain products since 2014.

WEB: https://pendulumchain.org/
Docs: Welcome to Pendulum | Pendulum Docs

Pendulum is a great project that acts as an on-ramp and off-ramp and promotes real-world use. It also features a bridge to Steller. Of course we support the proposal.

7 Likes
4

Looks good to me, let’s connect!

5

Awesome! Let’s go for it

6

Thanks for sharing @you425 :handshake:
Glad to see this proposal, let the interoperability begin :grin:

1 Like
7
Open HRMP Channel with Pendulum
  • Yes
  • No
  • Abstain
0 voters
4 Likes
8

Voted Yes.
It looks like a good project. Thank you for sharing about Pendulum, you-san!!

9

Hey,

Thanks for your proposal. Would be nice to have such channel opened, to enable free flow of assets between Astar and Pendulum. I’m in support of this proposal and looking forward to seeing it pass.

10

Aye from me, let’s keep connecting!

11

Voted yes. Looking forward to see what synergies can be achieve between both chains.

12

Come on this is great, on the way to the multichain! :fist:

13

Thank you for this explanation

1 Like
14

Thank you for the proposal. I would like to ask a few additional questions.

  1. What are the specific expectations for the connection between ecosystems in terms of numbers, such as users, liquidity, and transactions?

  2. In addition to the connection mentioned above, what is the communication plan to raise awareness of this initiative?

15

Glad to see this proposal passing , voted YES :grin: :handshake:

16

An obvious YES :slight_smile: Thank you for this proposal!

1 Like
17

welcome to Astar Network! and congratulations on the voting results!

It would be really great if the team can be actively discussing even after establishing the HRMP channels bi-directional.

1 Like
18

Hi @pithecus thanks, happy to finalize the bi-directional channel. I will respond to all questions this week

1 Like
19

Thanks for taking the time to ask thoughtful questions.

We can’t really comment here, as it depends on many variables and ultimately we don’t want to give you and others wrong expectations.

Of course, if it goes through, there will be a co-marketing plan to raise awareness. We have ideas, but not many we can share right now. Additionally, the potential PEN listing on Artswap and cross-chain Stellar stablecoin integrations are exciting developments to look out for.

Also, if you’d like, please join the Pendulum TG community; you might be able to get more answers to your questions: Telegram: Contact @pendulum_community

20

Cross-chain interoperability is a key feature, go ahead!
Can’t wait to see use case use cases built on the top of XCM.