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Pablo: The Decentralized Exchange

Pablo is the native decentralized exchange (DEX) of Picasso. It is a DeFi primitive, in that it fulfills a fundamental basic need of any DeFi ecosystem. In this case that function is token swaps whilst incorporating novel innovations to provide a complete suite of features that together form a protocol that is greater than the sum of its parts.

Pablo offers multiple AMM-types, enhanced customizability for LPs and traders, liquidity-bootstrapping pools, cross-chain assets through our IBC and EVM bridges, and single sided staking. Upon launch, Pablo will support dual asset Constant product(x * y = k) pools based on BalancerFi weighted math followed shortly after by Stableswap and the aforementioned liquidity-bootstrapping pools (LBP). In addition, Pablo aims to overcome the short-falls that other DEXs face such as mercenary capital and relying solely on a high inflationary reward token. Through bonding and protocol-owned liquidity, a completely fair-launch token, and strong value capture tokenomics, Pablo is set to provide sustainable yield and strong utility to the Composable ecosystem. As a result, it provides deep liquidity for asset swaps, yields for liquidity providers, and plays a significant role in kick starting the flywheel of DeFI activity on the Picasso chain. For example, Pablo will support future planned protocols such as our isolated lending market - Angular.

Pablo will focus on achieving strong liquidity for Substrate-native assets on our Kusama and Polkadot parachains, and then continue to evolve as future infrastructure such as our Substrate <>IBC bridge — Centauri, goes live. Therefore, Pablo is positioned not only to capture liquidity from the DotSama ecosystem but also to become a cross-chain hub that can natively tap into liquidity from IBC-enabled blockchains.

This is only furthered by each IBC connection we add, such as to NEAR, and eventually ETH 2.0 and Layer 2s.

Pablo will kickstart the Composable DeFi ecosystem and act as a catalyst for our broader cross-chain vision.