StellaSwap Partners with Phala for Crosschain Farm Launch on Moonbeam’s Pulsar
We’re excited to partner with Phala Network, a parachain on Polkadot focused on decentralizing cloud computing. Phala’s two core products - Phat Contract and PhalaWorld — are helping shape the future of Web3. Phat Contract exhibits unprecedented composability and removes the all usual limitations faced when using smart contracts. PhalaWorld introduces the SBT(Soulbound Token) concept as well as NFT customization.
Actualizing Polkadot’s vision of interoperability via cross-chain messaging (XCM), this partnership marks an important milestone between the prominent parachains within the Polkadot network: Moonbeam <> Phala. As the largest DEX on Moonbeam and Polkadot, it is important for StellaSwap to facilitate the adoption of substrate-native assets.
PHA is Coming to Moonbeam
StellaSwap is excited to facilitate inter-parachain synergies between Moonbeam and Phala. Cross-chain synergies via XCM opens up a world of usecases that are predicated on ease and security. The first step in actualizing further crosschain utilities requires sufficient liquidity for PHA.
PHA is the native utility token of the Phala Network and is used for its cloud-based economy. The PHA token, which has a maximum supply of 1 billion PHA, helps secure the network and maintain the network’s governance mechanism.
PHA Farm Launch
Given the success of Pulsar, we will list PHA on the first concentrated liquidity AMM on Polkadot. This ensures maximum capital efficiency and sufficient market depth for PHA.
Here are the details for the upcoming PHA farm launch;
⭐️ Farm Launch: PHA— DOT
⭐️ AMM: Pulsar
⭐️ Bridge: Native XCM Transfer (XCM Portal | Guide to transfer PHA to Moonbeam)
⭐️ Farm Type: Multi-Rewards
⭐️ Reward Token: STELLA + PHA
⭐️ Launch Date: 14 February
You can start bridging your PHA tokens via XCM through Moonbeam’s application here, in preparation for the farm launch.
About Phala
Phala Network tackles the issue of trust in the computation cloud. By organizing a decentralized network of computation nodes around the world, it offers high-performance services without relying on any cloud vendor. Phala workers run the programs in Secure Enclaves, a privacy technology already embedded into modern processors, enabling versatile and confidential execution. Together, this creates the infrastructure for a powerful, secure, and scalable trustless computing cloud.
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About StellaSwap
StellaSwap is a hybrid DEX that features a standard, stable and concentrated liquidity AMM to facilitate the most optimal price discovery for assets on Moonbeam. As the largest DEX and an integrated DeFi gateway, users can access the ecosystem with ease through our native bridge, swap-for-gas feature, as well as various DeFi opportunities in a click of a button.
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