Picasso provides developers access to a maintained parachain that they can build on, avoiding the arduous process of obtaining and maintaining their own parachain. We allow users to vote on pallets they want to add to Picasso’s run time. Thus, we decrease barriers to entry for parachain development, and provide all critical DeFi components as pallets, all within one place for community development.
Our proposed blockchain/parachain infrastructure.
1. Pallets to power DeFi functionalities
The ultimate vision is for pallets to cover all major components of DeFi, including primitives, core/secondary functions, and application/tertiary infrastructures. Primitives are the essential elements underpinning all of DeFi, which are oracles, smart contracts, tokens, transaction execution, keepers, and governance. Core functions build on these primitives to deliver valuable functions like DeFi lending, and tertiary applications meld these core functions into even more complex and valuable opportunities such as yield aggregation. For example, Picasso has a smart contract unit that we’ve assembled, with the aim to enable developers from different ecosystems to deploy a variety of smart contracts and languages and have them talk to each other, on the same parachain, including those using EVM, Tezos, ink!, and Solana’s eBPF.
Initially, we will be deploying our Apollo (oracle) and Cubic (vaults) pallets, in order to provide a foundation and kick off development on Picasso.
This full pallet suite will decrease the barriers to entry for parachain participation, in addition to providing built-in DeFi primitives for developers. Overall, this will make it easier than ever to build new and innovative solutions on the parachain, unleashing novel functionalities into the DeFi space.
2. An incubator program to foster new projects using our technology
Composable Labs is recruiting projects to build on Picasso. Individuals and teams can contribute to a cutting-edge ecosystem, with the potential to win grants and developmental/marketing assistance. We are presently inviting community members and developers to build these pallets on Picasso, with the most promising projects being incubated by Composable Labs. Thus, developers can work with all of the tools they need to build powerful applications, and receive the support to achieve success.
3. A governance functionality through Composable Tokens
Picasso has a built-in mechanism for users to vote on which pallets they want to add to a run time. This will be accomplished through our native Composable (LAYR) tokens, which act to provide token holders with governance votes.
4. A strategy for parachain maintenance
We are already starting to think about a long-term strategy for maintaining the parachain. This includes considering pager duties, APIs, lease renewal, etc. This will ensure that our parachain ecosystem is able to continually flourish.