Picasso PICAPrice $ 0.000046

Picasso is a custom-built layer-1 blockchain, with a native token $PICA. It is built on the Kusama network, and as such exists within the wider DotSama ecosystem. As a result of its use of a parachain, Picasso is both highly secure and efficient, and as an outcome of its proprietary technology stack, it is natively interoperable. Picasso offers an entire cross-chain interoperable technology stack. It helps overcome the issue of liquidity fragmentation through reduced transaction costs, composable applications that enable flexible liquidity movement, and novel solutions to address key issues in the DeFi space. Picasso sits within the DotSama ecosystem. As such, it is able to open XCM channels to other parachains to enable seamless, secure, and costless transactions and liquidity movement without gas fees.

In addition, Picasso maintains the Centauri IBC-Substrate bridge, which enables it to connect to IBC-enabled blockchains starting with the Cosmos ecosystem, as well as Mosaic, the transfer availability pallet, which opens up a bridge to connect to EVM-compatible Layer 1s and 2s. Picasso’s suite of DeFi primitives like the Pablo DEX, are designed to attract and maintain deep liquidity through novel technology innovations, and strong alignment with user incentives.

PICA is the native token of the Picasso parachain. While the PICA token provides the community a strong voice and rewards for participating within the ecosystem, it is also fundamental for the operation of collators and oracles. Thus, the PICA token is fundamental for governance, network usage, and the security of Picasso.