### What is Picasso?

Picasso is a custom-built layer-1 blockchain that operates with a native token, PICA. It is constructed on the Kusama network and forms part of the broader DotSama ecosystem. The platform is designed to provide a comprehensive cross-chain interoperable technology stack aimed at addressing liquidity fragmentation by offering reduced transaction costs, composable applications for flexible liquidity movement, and innovative solutions for key challenges in the DeFi space.

### How does Picasso work?

Picasso utilises the Kusama network and extends the Inter-blockchain Communication Protocol (IBC) beyond the Cosmos ecosystem. It integrates with layer 1 protocols from networks like Ethereum, Polkadot, and Solana. The network operates on a Proof of Stake (PoS) consensus mechanism through the Tendermint consensus. Picasso uses Composable’s Cross-chain Virtual Machine (XCVM) to enable asset transfers and cross-chain function calls across connected ecosystems, providing a seamless user experience with a single transaction execution across all IBC-connected chains and applications.

### What are the potential use cases for Picasso?

Picasso enables cross-chain DeFi infrastructure and trustless bridging solutions, supporting interoperable DeFi applications and cross-chain smart contracts with its XCVM. It is instrumental for cross-chain trading and liquidity provision, contributing to a Generalised Restaking Layer that secures assets across various ecosystems. Notable use cases include seamless cross-chain trading, particularly for assets like DOT, SOL, ETH, and AVAX, and applications such as the Pablo decentralised exchange (DEX) built on Picasso.

### What is the history of Picasso?

Developed by Composable Finance, Picasso originated with a vision to enhance Web3 user experiences in a decentralised, non-custodial manner. Since 2021, the network has achieved significant milestones such as integrating IBC with Polkadot, Kusama, and Cosmos ecosystems, expanding to Ethereum, and connecting Solana. Key technological evolutions include developing into a cross-chain DeFi infrastructure platform. The network's progression was supported by a series A funding exceeding $32 million, highlighting its strong market presence and foundational role in the ecosystem's interoperability and DeFi infrastructure.

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