They are thrilled to announce a strategic partnership between Mekatek and Composable to solve cross-chain orderflow.

Think of it as transparent MEV capture between Polkadot, Near, Cosmos and potentially Ethereum.

The collaboration aims to introduce a permissionless system for cross-chain intent settlement, enabling seamless DeFi interactions across the IBC ecosystem. While maximizing the aggregate value for the entire supply chain — from end user to delegator.

As IBC expands, orderflow becomes more plentiful, leading to more opportunities, more value transfer, and more connections between IBC-enabled blockchains, where we can work together to create a more transparent and efficient cross-chain DeFi.

With the help of subsidized bridging fees, relayers like Composable’s Hyperspace can operate sustainably through horizontal or vertical integration with builders.

They’re excited to collaborate with Composable Finance on the first prototype of this system.

About Mekatek

Mekatek building the first Maximum Aggregate Value (MAV) market place for the Interchain.

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About Composable Finance

Composable Finance a developer-focused cross-chain smart contract platform for building next-generation interoperable applications facilitating cross-ecosystem communication. By leveraging the Composable tech stack, DeFi developers and end-users can perform cross-chain actions, while repositioning the overarching blockchain ecosystem as a network of agnostic liquidity and available yield. Composable allows users to tailor their experience to maximize for a desired parameter while minimizing ecosystem-specific decision making.

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Official Launch of Picasso begin this Friday, November 25th. The Picasso team has been working hard to develop an extensive product suite that has undergone a series of audits, as outlined in our dev logs. To promote a seamless experience for the community and backers, Picasso will be release in phases.

Release 1

This Friday, core pallets to the Picasso parachain are schedule to be release. Functionality will initially be limited to the following:

• Crowdloan rewards will be viewable but non-transferable. In this way, users can review and verify the tokens that they are set to receive from the crowdloan.
• Users will be able to test the application at app.picasso.xyz ahead of full functionality release.
• Council governance will be viewable on Polkassembly. Once the team confirms that everything working properly, sudo privileges will be remove in later releases and Picasso will transition to an on-chain democracy that accessible for all to participate in via Polkassembly. Comprehensive guides to governance on Picasso will be post on their Medium, along with other useful guides and video tutorials to walk our community through the process of on-chain governance and other Picasso functionalities.

Release 2 — What’s next?

A smooth rollout of our core infrastructure, Release 2 target to begin in mid-December, at which point, the following should take place:

• Release of Pablo DEX
• $PICA pools seeded on Pablo, allowing for trading: KSM/USDT, PICA/KSM, PICA/USDT
• Sudo to be remove at the end of release 2
• XCM Channels to Kusama relay chain and Statemine
• Bring Your own Gas incentives for newly onboarded users in the Picasso ecosystem (allowing users to pay in any token for underlying gas fees).

About Picasso​

Picasso a custom-built Layer 1 blockchain, with a native token $PICA. Built on the Kusama network, & as such exists within the wider DotSama ecosystem. The Picasso is both highly secure & efficient, & as an outcome of its proprietary technology stack, it is natively interoperable.

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