Picasso price

PICA

#6287

Picasso and PICA play crucial roles in the ever-growing ecosystem and future of Composable. PICA is the native token of two blockchains - Picasso on Kusama, and the Composable Cosmos Chain on Cosmos.

PICA is the token powering cross-ecosystem IBC. As a practical example of this, Picasso currently powers cross-ecosystem IBC transfer activity between the Polkadot, Kusama, and Cosmos ecosystems, with other ecosystems including Ethereum and Solana soon to be connected this becomes a massive value proposition.

• Swap on Picasso's native DEX, app.Pablo.finance

• Swap on Osmosis Zone

PICA functions as a native cross-ecosystem token that ultimately powers the IBC future. PICA’s utility is extensive and multi-faceted, powering a wide range of functionalities across various ecosystems. As siloed ecosystems like Polkadot and Cosmos continue to interact and cross-pollinate, value inherently accrues to the PICA token, positioning it as the backbone for a more interconnected blockchain future.

• Revenue from cross-ecosystem IBC Through PICA Staking - By staking PICA users will be granted a share of the revenue (in proportion to their stake) generated from cross-ecosystem transfer activities conducted via cross-ecosytem IBC.

• Network usage - as the utility token of Picasso and Composable Cosmos, PICA is fundamental for; gas payments and CosmWasm smart contracts.

• Oracle staking - Picasso hosts its own permissionless oracle solution, users can choose to run their own oracle and collect rewards by providing a PICA stake.

• Collator staking - as with most proof-of-stake networks, collators are required to put down a stake in order to produce blocks on our parachain. Collators are then rewarded with 25% of the fees collected on Picasso.

• Validator Staking (Composable Cosmos Chain) - PICA is currently being utilized to secure the Composable Cosmos chain. This is the first instance of a token being utilized for ‘validation’ within both the Kusama and Cosmos ecosystems and highlights the critical role PICA plays within cross-ecosystem IBC.

• Primary DEX pairing - Pablo is the native DEX of the Picasso ecosystem and is integrated directly into our parachain’s runtime as a specialized pallet. An essential component to its operation is PICA, which serves as one of the primary tokens for trading pairs.

• Governance - The PICA token plays an important role in Composable's approach to fair and transparent network guidance and decentralization. PICA holders are responsible for governing the Picasso and Composable networks.

• Liquid Staking (Coming soon) Composable prepares to roll out staked DOT (LSDOT) to underscore the direct value add and revenue that will be channeled to PICA token holders.