Picasso

Composable Finance aspires to build an entire ecosystem around the Composable and Picasso parachains. Built on the Kusama network, the Picasso Parachain offers enhanced interoperability, customisation, and security over traditional blockchain structures.

By leveraging parachain technology, we do not have to recruit our validators for security, which gives us more excellent finality guarantees and lowers the risk of cross-chain transaction failures.

Picasso aims to supply dApp developers with all the necessary tools to build seamless interoperable financial applications as pallets on our chain, with decentralised, stake-based governance. We’re facilitating an entire ecosystem from the ground up, onboarding pallets that help to create the building blocks required for DeFi primitive, core, and application functionalities to thrive.

Our initial pallets deployed on Picasso are Apollo, the very first MEV-resistant oracle pallet in the Kusama ecosystem and Cubic, the first-ever vaults pallet on Kusama. angular…bribe…whirlpool…

Pallets in our expansive Picasso environment will have the chance to mature and thrive. Over time, the most promising pallets will have the opportunity to graduate onto our Polkadot parachain upon its launch. This graduation process will be approved by the Picasso token (PICA) holders who ensure actions are taken in the best interest of our ecosystem.

Moving assets intra-ecosystem is becoming more intuitive. Composable is on a mission to unlock the interconnected ecosystem of blockchains via a cross-chain, cross-layer networking fabric. In the future, both developers and users can interface with multiple ecosystems in a user-friendly, scalable, provable, and decentralised manner.

We consider Kusama and Polkadot interchangeable in what follows and part of the greater substrate ecosystem. Polkadot offers plug-and-play security, allowing Composable to focus on building its ecosystem and leaving the security to Polkadot’s validators. By leveraging parachains we do not have to recruit our validators for security, which gives us more excellent finality guarantees and lowers the risk of cross-chain transaction failures.

We also chose Polkadot for its blockchain development framework, Substrate. Substrate allowed us to custom-build our blockchain, continuously upgrading our blockchain with new functionalities without needing to fork the network. Polkadot also allows for native cross-chain communication with all other parachains connected to Polkadot and all external networks bridged to Polkadot. Last, we believe Polkadot has the top engineering team and leadership in the industry, having been built by Gavin Wood, who coded Ethereum, invented the Solidity programming language, and developed the Ethereum Virtual Machine (EVM). We believe Polkadot is building the third phase of crypto after Bitcoin and Ethereum.

PICASSO use cases:

• Governance. The Picasso token will serve as the voting mechanism to govern the network.
• Collators. The Picasso token will be staked by collators of our parachain, earning PICA as they validate.
• Data provider staking. Data providers will stake PICA to provide data feeds for the Apollo Oracle.
• Network usage. All the Picasso Network transaction fees are payablein PICA tokens.
• Picasso treasury. Governed by the Picasso General Council, which will later be governed by PICA token holders.