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PICA Use Cases

PICA is the native token of Picasso, powering the cross-ecosystem IBC and Restaking Hub. It is positioned to be the network and native token for cross-ecosystem-IBC transfer activity. The vision is serve as the infrastructure network for cross-chain interaction and execution on MANTIS to abstract the UX of having to individually navigate between dApps and chains in a secure manner.

A concerted effort has been made to ensure that the PICA token holds as much utility as possible by incorporating various value accrual methods and governance features.

What is $PICA used for?​

Governance​

In pursuit of a trustless and interoperable vision, PICA plays a crucial role, as governance on Picasso is operating OpenGov phase 2.

Additionally, as PICA serves as the native token of Composable Cosmos, it is essential for governance on the Composable Cosmos chain as well.

Validator staking​

PICA is used to secure Picasso. This is the first instance of a token being utilized for validation within both the Kusama and Cosmos ecosystems and highlights the critical role PICA plays within cross-ecosystem communication.

Bridging Fees Distribution​

A percentage of the bridging fees generated by each new IBC connection involving Picasso will be allocated to stakers of PICA on Composable Cosmos. At present, stakers receive rewards from the Polkadot-Cosmos IBC connection.

With the introduction of Solana and Ethereum IBC connections in Q1 of 2024, 20% of the bridging fees from these connections will be distributed to PICA stakers.

AVS Payment Distribution​

The Generalized Restaking Layer will secure the launches and activity of various Actively Validated Services (AVS) enhancing revenue generation for PICA stakers. A portion of the revenue, specifically 20%, will be directed towards PICA stakers. The initial AVS to be launched will be the Guest blockchain on Solana, which facilitates the Solana IBC connection.

tip

Follow this guide for staking PICA on Picasso to take part in governance and earn rewards through various protocol revenue streams.

Where is PICA available?​

The PICA token is available on: