Weekly news from Kusama & Polkadot #60

1. Pendulum has won the 35th parachain auction on Polkadot

Pendulum is a blockchain project that aims to bridge the gap between the traditional financial system and the decentralized finance (DeFi) ecosystem. It is an open-source platform built with Substrate, which allows DeFi applications to connect to the foreign exchange market.

With Pendulum, it is possible to create automated market makers (AMMs) to provide scalable liquidity pools for fiat currencies and offer yield-earning opportunities for holders of fiat-pegged tokens. For more info about Pendulum, please go through our previous descriptive article.

2. Robonomics has won the 63rd parachain auction on Kusama

Robonomics used crowdloan, where they raised 2002 KSM worth ~$45k from 62 contributors.

Robonomics aims to offer the IoT market safer and more advanced Internet solutions at every stage of human-machine communication. Its main applications are:

  • IoT device management with a decentralized cloud,
  • Techno-economic transactions between humans and machines,
  • Serverless IoT applications for users.

3. The HydraDX Omnipool is launching this Friday

HydraDX, a revolutionary decentralized exchange of the AMM style brings the unique Omnipool functionality, which will enable 2–4x more capital-efficient trading thanks to lower slippage and fewer hops. This is all due to the deep, diversified, and unfragmented liquidity of just one pool for all the listed assets.

Omnipool will enable to provide of liquidity only for the asset user wants, so even just a single token. The Omnipool will then mint and burn a corresponding amount of the pool token LRNA.

The first assets of Omnipool will be HDX (the native token of HydraDX), pool token LRNA, followed by stablecoin DAI, and DOT, the main token of the Polkadot network. Due to the roadmap of HydraDX, some other assets listed will be USDT and USDC stablecoins followed by ETH and some major tokens from Polkadot space.

Roadmap of HydraDX

4. Phala App v2.0 has arrived

Phalla App v2.0

New functions in StakePool V2

  1. Delegation NFTization

Delegated PHA can be converted into non-fungible tokens (NFTs) which can be traded on the PhalaWorld NFT marketplace, allowing for more immediate and liquid trading of these assets compared to the traditional withdrawal process.


2. Automatic compound interest

Delegation rewards will be automatically reinvested in the pool’s assets in StakePool V2. Individual withdrawals of rewards will not be allowed to prevent issues with frequent withdrawals and increase the rate of return. A portion of assets can still be directly withdrawn from the pool, regardless of whether the withdrawal includes the reward or the principal.

3. Auxiliary Mechanism for Delegation Asset Voting — WrappedBalances

NFTization of delegation assets will prevent them from participating in governance directly. To address this issue, Phalla introduced WrappedBalances, a new ledger concept, where PHA tokens are mapped to Wrapped-PHA (W-PHA) 1:1 during delegation and automatically converted back to PHA upon withdrawal. WrappedBalances are only used internally and do not require any action from users

Phala App 2.0 is a multifunctional aggregation product that is an app hub for developing tools of the Phala ecosystem, such as SubBridge, Delegation, and Farm. Phala App serves also as a wallet, which supports Polkadot JS, Talisman, and SubWallet.

5. Pablo DEX launched on Picasso

A part of the Release 2 included the token generation event of Picasso’s native token PICA and the launch of the first three liquidity pools, concretely:

Swap on Pablo DEX

Users of Pablo DEX are now able to swap tokens PICA, USDT, and KSM with each other and provide liquidity for the above-mentioned pools.


Picasso, a parachain on Kusama, is the cross-chain hub & infrastructure layer pioneering interoperable DeFi solutions. Picasso is the canary network of Composable Finance, which is a Polkadot parachain building the first cross-ecosystem implementation of IBC (The Inter-Blockchain Communication protocol) used in theCosmos ecosystem, enabling trustless bridging between ecosystems that are fragmented or only connected through the trusted solutions.

Pablo DEX is now live & PICA is trading on http://app.pablo.finance.

6. Bifrost launched liquid staking of BNC

Since BNC is Bifrost’s native Token, the minting and redemption of vBNC are directly implemented locally on the Bifrost-Kusama chain, without XCM. Till now, ~1.5M vBNC were minted already since the launch.

Bifrost already opened the first LP farming pool for vBNC, specifically LP vBNC/BNC. The APY is ~25%, so together with the 13% base APY for liquid staking, the farm can give you ~38% APY.

Consider supporting us by nominating your tokens to the Kusama or Polkadot validator going by the POLKADOTTERS name.



Czech bloggers & community builders. We are validators of Polkadot, Kusama, Darwinia, Crab, Bifrost, HydraDX, StaFi, Centrifuge under the name: POLKADOTTERS

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Polkadotters | Kusama & Polkadot validators

Czech bloggers & community builders. We are validators of Polkadot, Kusama, Darwinia, Crab, Bifrost, HydraDX, StaFi, Centrifuge under the name: POLKADOTTERS