Composable is releasing the Picasso Network token (PICA) - the native token of the Picasso parachain, which lives solely on the Kusama parachain. PICA will have critical functionalities including allowing voting on which pallets are implemented first on Picasso, beyond our core pallets such as Apollo (oracle pallet) and Cubic (vaults pallet) that will already be available.
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.
