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CRYPTO NEWS & DATA SPACE

Composable And Picasso Will Integrate aUSD

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Firstly, Acala is excited to announce its integration with Composable Finance — a cross-chain and cross-layer infrastructure for DeFi developers. Composable and Picasso, will integrate aUSD as the default stablecoin on their parachains to provide a stable and reliable stablecoin to users. Users and developers engaging through Composable can interact with several ecosystems across Polkadot, Kusama, and Cosmos, with aUSD playing a crucial role in facilitation as a medium of exchange.

Picasso: Composable Finance’s Kusama Parachain

Picasso includes three core essentials for its service delivery:

1. Primary Level

The primaries include:

  • Apollo — An MEV-resistant oracle to unlock primaries and secondaries.
  • Cubic — The standard for vaults in substrate-based DeFi.
  • Centauri — The Substrate-IBC bridge connecting Kusama and Polkadot to the Cosmos ecosystem.
  • Mosaic — Modular transfer availability layer bridging EVM assets to Picasso and Kusama.

2. Secondary Level

Angular, a cross-chain money market on Picasso, and the CHAOS treasury are DeFi primitives that form Picasso’s secondaries.

3. Tertiary Level

Whirlpool enables anonymous transactions on Kusama to facilitate robust financial opportunities and strategies.

Pablo serves as a Substrate-based DEX on Picasso; as a result of this integration, users within the Composable ecosystem will have the ability to utilize aUSD as the default stablecoin for dApps and protocols on Picasso and the Composable Parachain.

PICA, Picasso’s native token, will power the platform by enabling network governance, staking, and data provision.

Furthermore, Composable integrates cross-chain virtual machines (Composable XCVM) — a single, developer-centric interface that serves as the top-level orchestration layer for deploying protocols that can communicate across multiple chains at once.

aUSD Integration to Enhance Liquidity and Cross-Chain Communication

Various obstacles prevent DeFi service access across different chains. Users may unintentionally interact with nefarious actors, dishonest nodes, or unethical practices. Picasso and Mosaic solve the first obstacle to interoperability in DeFi by enabling cross-chain and cross-layer communication.

aUSD — a decentralized, over-collateralized stablecoin — solves the second DeFi drawback by providing currency stability amongst interacting chains connected to Kusama.

The Picasso-Karura cross-chain communication channel links the protocols, allowing Composable DApps to leverage aUSD stability and connection. aUSD provides a stable and reliable currency whose peg remains stable during market volatility using liquidation of over-collateralized assets backing the issuance of the stablecoin.

Developers can integrate aUSD use in their applications to widen their reach and enjoy aUSD’s native cross-chain transferability, liquidity, and stability. By leveraging Composable’s cross-chain virtual machine (XCVM), which permits native cross-chain DApp development, developers can connect their DApps to new blockchain economies and optimize aUSD use.

Finally, Composable and Acala’s partnership provides a DApp advancement environment where developers access the liquidity, traction, and crucial value propositions of the Composable, Picasso, and DotSama (Polkadot and Kusama) ecosystems.

About Composable Finance

ComposableFinance is building the interoperable infrastructure for modular DeFi functionality.. Vision is to become the entryway and networking fabric for blockchain networks and serve all interactions, transfers, and communication cross-ecosystem.

Website | Twitter |

About Acala

Acala is a decentralized finance network powering the aUSD ecosystem. The core product, Acala USD (aUSD), is a decentralized, multi-collateral, crypto-backed stablecoin serving as the native stablecoin of the Polkadot ecosystem. Acala’s Ethereum-compatible blockchain has built-in DeFi protocols for application developers to leverage, including a trustless staking derivative (liquid DOT — LDOT), a decentralized exchange, and the EVM+, a hybrid EVM offering fully Ethereum-compatible development environment plus full compatibility with Substrate.

Website | Twitter |

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