FAQ
What is Pendulum?
Pendulum’s interoperable blockchain brings together high-quality fiat tokens in a single, powerful DeFi network. Building the missing link between fiat and DeFi through a forex-optimized smart contract DeFi network allowing traditional finance services to seamlessly integrate with DeFi applications such as specialized forex AMMs, lending protocols and yield farming and offering composable fiat solutions with 1000x performance.
Building Pendulum on Polkadot’s Substrate framework maximizes multi-chain interoperability and increased security. Pendulum will operate as a key piece of Web3 infrastructure to finally unlock DeFi use cases for fiat currencies.
Our mission is to create an open financial future that overcomes borders and fosters economic inclusion.
What is a Crowdloan?
A crowdloan serves to trustlessly crowdsource DOT to bid on a parachain slot in Polkadot’s parachain auctions. It is not exactly a loan, rather it is a way of locking your DOT tokens in order to vote for a parachain to successfully win a parachain slot in the network. For more information see our quick overview.
Will I get my DOT back?
Yes. Your DOT tokens will be automatically returned to you when the parachain lease ends after 96 weeks, when Pendulum wins the auction. Remember, we never have custody over your DOT. All DOT staked for Polkadot crowdloans are secured by the Polkadot Relay Chain.
How do I know how much PEN bonuses I will get?
You can check your rewards and their breakdown here on the Pendulum Crowdloan Dashboard.
What is the breakdown of the PEN bonuses?
- 5% for signing up on the waitlist
- 5% for participating in the amplifier campaign
- 5% of every contribution from your friends that contribute via your referral link
- 3% for contributors of the Amplitude Kusama crowdloan
- 15% bonus if your contribution is in the 100,000 DOT
- 10% if your contribution is in the 100,001–200,000 DOT
- 5% if your contribution is in 200,001–300,000 DOT
How to receive rewards?
Rewards will automatically be sent to your Pendulum address, which will be derived from the Polkadot address you contributed with according to our release schedule. You may access them as soon as Talisman, or other wallet providers, integrate Pendulum. If you want to access your PEN earlier, you may import your private keys into a polkadot.js wallet.
What happens now we have won the parachain auction?
Crowdloan contributors receive PEN to their Pendulum address automatically according to the release schedule. Winning the parachain auction allows us to plug into Polkadot as a parachain for 96 weeks and everyone is welcome to start using and building dApps on Pendulum. After the 96 week lease period expires, contributed DOT are automatically returned to the Polkadot addresses of contributors, in addition to any rewards and bonuses accumulated.
Can Pendulum access my DOT?
Pendulum never has custody over your DOT tokens. Your DOT tokens stay bonded to the crowdloan module on the Polkadot Relay Chain and you will be able to see them inside your wallet.
What is the most user-friendly DOT wallet?
Talisman is one of the most user-friendly wallets. Managing your wallet and contributing to our crowdloan via Talisman is probably the easiest way to go about it.
Last modified 5mo ago