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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. 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.

Initially, 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 and EVM enabled blockchains.

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