Announcing Arturo as the first recipient of the Composable Grants program
By our unrelenting efforts to foster a connected Web 3.0 future, we are pleased to announce Arturo as the first recipient of the Composable Grants program. We extended an invitation to the broader DeFi community at large via our grants program. Arturo has developed a portfolio automation pallet and will be deploying it on Picasso parachain.
Arturo, an algorithmic trading pallet designed to help investors manage their portfolios, facilitates the implementation of any series of trading activities in a workflow for automatic execution. Trading activities such as portfolio rebalancing, liquidity mining/staking rewards and stop-loss trades for liquidity provisioning (LPing) positions can be automated once defined in a workflow.
The workflow engine is the core of the Arturo protocol, triggering workflows by external events that activate the Arturo pallet. Defining workflows to leverage the Arturo pallet will foster the seamless development of algorithmic trading tools within the Composable ecosystem and, by extension, the DeFi community.
Moreso, Arturo is a pallet built with the generalized Substrate framework, giving it ample opportunity of being deployed as a useful tool that possibly binds all other pallets within the Composable ecosystem. This functionality demonstrates the power of Substrate pallets as compared with EVM, allowing Picasso to become the backbone of all other pallets working together.
Furthermore, Arturo is a no-code tool for DeFi developers and investors. Arturo users can easily create responsive, automated strategies to achieve their portfolio management goals without prior programming knowledge.
Following code audits and extensive security analysis, the Arturo pallet will be deployed on Picasso — our Kusama parachain. The Arturo pallet will be constantly put to the test and improved on Picasso, which serves as a testing ground for developers to refine their work for real-world DeFi use-cases.
Arturo can further graduate to our future Composable parachain on Polkadot through a governance structure when it is secured. We believe this to be an instrumental step in the right direction in fostering the development of Picasso with the ultimate goal of deploying only the best pallets to the Composable parachain.
Composable Labs, the incubator arm of Composable Finance, through its Composable Grant program, will be providing financial and development services to Arturo, ensuring that the pallet is at full potential. We are excited for the future of the Composable ecosystem as we continue to welcome promising pallet projects from the DeFi developer community.
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