Adding Mosaic as a primary pallet on Picasso will bridge assets from the EVM chains that are supported. This enables compatibility with EVM assets for applications built on Picasso and would open up opportunities for a range of functionalities such as the following actions:
- Users holding USDC on Polygon can bridge it to Picasso, participate in the Picasso liquidity bootstrapping pool (LBP) and get $PICA.
- Using the PICA/USDC pair, they can then provide liquidity in Pablo’s liquidity rush event and get rewarded in PBLO.
- Finally, they can bond PICA-PBLO, PICA-KSM and PBLO-KSM for PBLO at a discount, which in turn allows Pablo to boost its protocol-owned liquidity.
- Through Kusama’s cross-chain messaging (XCM), users can bridge the assets to other parachains such as Moonriver, Karura, etc., and explore the DEX, gaming, stablecoins, lending/borrowing, and NFT opportunities they have to offer.