The Pendulum crowdloan on Polkadot is projected to start in Q4. Crowdloan contributors will have the chance to access the PEN token.
A Polkadot 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.