Composable Finance announces the official launch of Picasso

seeks to address issues around DeFi complexity by simplifying the cross-chain user experience in a non-custodial manner through use of IBC and their own product suite. After a series of development and audits, its Kusama parachain, Picasso, is scheduled to go live on Friday, November 25th with the core pallets that make up the network to be released.

Picasso has utilized this framework to create a blockchain that has been optimized for the facilitation of non-custodial cross-chain transactions. This includes critical infrastructure such as oracles and vaults and extends to include complex bridging solutions, a novel DEX that utilizes bonding mechanisms to ensure deep liquidity, a cross-chain lending market, and more.

Picasso users will be able to navigate and test the released functions at app.picasso.xyz ahead of subsequent other releases. Moreso, council governance will be viewable on Polkassembly, an open-source platform for anyone to participate in Substrate-based chain governance like discussing and voting on governance proposals, motions and referenda.

KSM/USDT, PICA/KSM, PICA/USDT. As a step to full on-chain governance, sudo will be removed by end of the release 2. XCM Channels to Kusama relay chain and Statemine is also expected to go live in this phase as well as Bring Your own Gas incentives for newly onboarded users in the Picasso ecosystem. BYOG is an interesting feature that will allow users to pay in any token for underlying gas fees.

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