Composable’s Monthly Update: June 2023
Welcome to Composable’s Monthly Update! We are thrilled to share the latest developments and insights from our ever-growing ecosystem! We had an extremely eventful last month and included shipments from this month as we have achieved some remarkable milestones back-to-back with Centauri. Check out all of our announcements and exciting developments, connections, and conversations within the Cosmos and DotSama ecosystems. Join us for a tour of Composable Finance’s progress in June-July 2023 as we continue to work towards our vision of any money, any chain, anywhere.
Polkadot 🤝 Cosmos
This month was all about Centauri’s latest breakthrough, connecting the Polkadot and Cosmos ecosystems!
Pre-launch we held a Twitter Space alongside Osmosis and Sommelier Finance co-founders, diving into the potential of a connection between DotSama and Cosmos.
We then continued this conversation with Osmosis on Updates from the Lab which you can listen to here or read the summary if you prefer.
Reducing the risks of cross-chain LSTs
We haven’t just been chatting with Osmosis and Sommelier 👀 We’ve had many teams express interest in this connection from both the Polkadot and Cosmos sides!
Our founder and CEO, 0xbrainjar, published a blog on some of our findings in collaboration with Stride and Babylon. Stay tuned for more exciting developments as we continue exploring Centauri integrations with others but for now read up on how Composable’s tech stack can be utilized to reduce the risks associated with cross-chain liquid staking tokens (LSTs)
The inner workings of Centauri
As we were in the process of wrapping up Centauri’s third and final testnet, we hosted Notional DAO’s CEO, Jacob Gadikian, on Twitter Spaces to discuss the work that went into creating Centauri along with some insight on how it compares to other cross-chain infrastructure.
Testnet 3 completed
We wrapped up our third and final Centauri testnet, pushing Centauri onto mainnet on Picasso Network to undergo final testing before launch!
Taking interoperability to the next level
To celebrate Centauri’s move to mainnet we held a Twitter Space with key contributors to both the Polkadot and Cosmos ecosystems as we were joined by Robert Habermeier, Sunny, Cryptocito and the Kusamarian to discuss the implications of Centauri’s imminent launch.
We were also rugged by Twitter Spaces in the process so if you want to listen to the full recording you can find it here.
New Galxe campaign
In alignment with our Centauri progress we’ve also rolled out a new Galxe campaign. The campaign is ongoing so join now to:
👩🚀 Secure your Centauri Early Adopter role
💸 Become eligible for $PICA giveaways and raffles
🟣 Earn points to redeem a limited Centauri-themed NFT to celebrate our connection between Polkadot <> Cosmos
The first cross-ecosystem IBC transfer
$PICA went on a round trip through the Cosmos 🌌
Our mainnet testing kicked off with a transfer from Picasso to Chihuahua Chain and back. You can view all the transaction details below 👇
StreamSwap launch
Our first Cosmos strategy kicked off with our StreamSwap integration. Make sure you redeem your PICA if you participated in the Stream!
Osmosis integration
Our first pool on Osmosis is live, has been seeded with funds from our StreamSwap, and is incentivized with ~100M in $PICA rewards over the next year!
In addition, we recently set live a proposal to have the $PICA / $OSMO pool be added to the External Incentive Matching Program.
🚨 Join the discussion below and prepare to vote 👇
CosmWasm VM on mainnet
CosmWasm is now live on Picasso mainnet after initial testing concluded on Picasso Rococo! Mainnet launches will remain whitelisted for now as we encourage teams to deploy and complete testing on Rococo before transitioning to mainnet.
PICA staking to Validators
PICA staking to Validators is now live on Centauri! Check it out now 👇
Interchain Ecosystem Blog
In recognition of our efforts to connect the Polkadot and Cosmos ecosystems we were featured on the Interchain Foundation’s blog! We look forward to continue working with the ICF on our journey to bring IBC everywhere.
A look ahead: an overview of next month’s goals and objectives
Centauri
Optimizations
With the first two connections in production, the focus of the bridging & front-end teams is now on optimizing Centauri for the introduction of new connections. This includes adding support for multi-hop on the XCM side and Wasm support on our Centauri chain, a permissionless asset registry, design changes, and adding new parachain and Cosmos chain connections to Centauri.
Research and development
R&D is continuing on our IBC connection to Ethereum, NEAR, and beyond. We are also researching our Centauri Explorer’s implementation that will allow users to track transactions across ecosystems. More updates will follow.
Pablo
Permissionless pools
We are continuing the development of permissionless pools for Pablo. Guides will follow on how to launch a pool on the Pablo DEX.
New pools
With the connection between DotSama and the Cosmos live we will continue to work with teams on implementing cross-ecosystem pools on Pablo, Osmosis, and other Cosmos DEXs. Let us know what tokens you’d like to see next on Pablo!
The following pools have already been implemented:
🎨 $KSM / $OSMO
🎨 $DOT / $OSMO
🧪 $PICA / $OSMO
The Pablo DEX further plans to add:
🎨$PICA / $ATOM
🎨$DOT / $ATOM
🎨$KSM / $ATOM
Osmosis plans to add:
🧪$OSMO / $KSM
🧪$ATOM / $PICA
🧪$OSMO / $DOT
DEX router
As Pablo expands to support new assets the need for a router is becoming increasingly important. DEX routers optimize trading for tokens that are live on a DEX but don’t have a pairing with the token you are attempting to trade. Pablo’s DEX router will find the optimal route for any token by ensuring minimal slippage is incurred on every transaction.
Picasso
CosmWasm
We are focused on assisting teams in onboarding and testing on Rococo before launching on Picasso mainnet. We are also engaging teams to develop CosmWasm tooling that will ensure a smooth transition for CosmWasm developers seeking to deploy their applications on Picasso.
More About Composable, Picasso, & Centauri
Composable Finance is dedicated to improving the accessibility, quality, transparency, efficiency, and security of decentralized finance. We accomplish this by pioneering innovative Web3 user experiences in a trustless, non-custodial, and decentralized manner. Composable’s technology stack enables and combines key services across different DeFi ecosystems and protocols. Our ultimate vision is to enable “any money, anywhere”: the use of any assets on any network. Composable aims to do this by expanding the reach of the IBC everywhere.
Picasso is Composable’s layer 1 blockchain acting as an infrastructure layer to pioneer interoperable DeFi solutions, with a native token $PICA available on the Pablo DEX. Picasso is equipped with a robust set of novel DeFi primitives that are built as modular pallets. These pallets are designed to attract liquidity from the broader DeFi landscape whilst promoting interoperability between various ecosystems.
Centauri is an extension of the IBC protocol that facilitates trust-minimized cross-ecosystem communication among various blockchains; it already connects Polkadot, Kusama, and Cosmos, with plans for expansion to Ethereum, NEAR, and other ecosystems. Centauri expands the existing IBC beyond Cosmos appchains for the first time. Similar to any IBC connection between two chains, Centauri supports asset transfers (including fungible and non-fungible tokens), generic message passing, cross-chain contract calls, cross-chain fee payments, interchain collateralization, and more in a trust-minimized manner.
Picasso also provides an ideal building ground for developers. We offer:
💰 An ongoing grants program
🧰 Developer tooling
📚 Guides & documentation
