Specifically, Pontem founder Boris Povod reportedly revealed that the primary goal of the freshly formed alliance is to enhance the existing node infrastructure on Polkadot, where Pinknode will offer “reliable and secure API endpoints”.
The network is particularly designed with a target to support developers in utilizing a Polkadot para chain as a testing environment for their ideas, prior to finalizing their submission to the Diem blockchain.
The network further revealed that Pinknode’s code would reportedly equip Polkadot developers with the ability to link up their dApps via Kusama, while Pontem and Pinknode’s teams could offer “critical infrastructure for Web 3.0 purposes.”
In June, Pontem reportedly successfully secured $4.5 million via seed investments for the initiative, which will be channeled towards establishing an access gateway into the interoperable features designed in its ecosystem, via the Diem blockchain. The project also onboarded new personnel, including former members of crypto lending BlockFi Alejo Pinto to take up the position of chief growth officer.
The project further disclosed that the Facebook-supported initiative is reportedly having plans down its pipeline to roll out its Diem stable coin pilot program at some point this year.
The project was initially revealed to the general audience by Facebook two years ago with the name Libra, but has generated a significant amount of negative responses from global regulators, which led to the rebranding attempt to Diem in 2020.