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 will offer multiple AMM-types, enhanced customizability for LPs and traders, liquidity-bootstrapping pools and cross-chain assets and liquidity pools via Composable IBC. Upon launch, Pablo will support dual asset Constant product 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.
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.
Pablo will focus on achieving strong liquidity for Substrate-native assets on our Kusama and Polkadot parachains, and then continue to evolve as future Centauri, establishes new connections. Therefore, Pablo is positioned not only to capture liquidity from the DotSama ecosystem but also to become a cross-chain DEX that can natively tap into liquidity from IBC-enabled blockchains.
Pablo will kickstart the Composable DeFi ecosystem and act as a catalyst for our broader cross-chain vision.