Picasso Network provides a generalized restaking layer and secure asset transfers for IBC-connected ecosystems, utilizing the Inter-Blockchain Communication (IBC) protocol to enhance cross-chain security and interoperability. By enabling seamless, non-custodial bridging and multi-asset restaking, Picasso addresses the challenges of high fees and complex processes in transferring assets across different blockchain networks.
Funding
Funding not disclosed
Founders
Product
Problem
Cross-chain transfers and restaking across different blockchain networks often involve high fees and complex processes, hindering seamless interoperability and security. Existing solutions lack efficient mechanisms for secure asset transfers and multi-asset restaking across diverse ecosystems.
Solution
Picasso Network provides a generalized restaking layer and facilitates secure asset transfers for Inter-Blockchain Communication (IBC)-connected ecosystems. By extending the IBC protocol, Picasso enhances cross-chain security and interoperability, enabling seamless, non-custodial bridging and multi-asset restaking. The platform allows users to stake assets like SOL and liquid staked derivatives to secure Actively Validated Services (AVSes) such as bridges, dApps, and L2 roll-ups, rewarding operators and restakers for their contributions to network security. Picasso functions as a cross-ecosystem IBC hub, fostering the cross-pollination of assets, builders, and communities between networks like Solana, Ethereum, Cosmos, and Polkadot.
Target Audience
The primary audience includes users and developers within the Cosmos, Polkadot, Ethereum, and Solana ecosystems seeking secure cross-chain solutions and restaking opportunities.
Features
- Secure bridging and multi-asset restaking through cross-chain Inter-Blockchain Communication (IBC)
- Support for restaking SOL and liquid staked derivatives to secure AVSes
- Native interoperability, enabling fast and secure transactions across ecosystems
- Cross-ecosystem IBC transfer activity between Polkadot, Kusama, and Cosmos ecosystems
- $PICA token staking for a share of revenue generated from cross-ecosystem transfer activities
- Network usage for gas payments and CosmWasm smart contracts
- Permissionless oracle solution where users can run their own oracle and collect rewards by providing a $PICA stake
- Native DEX (Pablo) integration with $PICA as one of the primary tokens for trading pairs
- Governance participation for $PICA holders in the Picasso and Composable networks