Dev Log no.3

In the past three weeks, the dev team has been working on Mosaic implementation, Pablo deployment, and developing the financial NFT pallet. You can track the progress on Github (fNFT, LBP, Pablo).


Following the Trail of Bit audits and after seeing the recent hacks in the bridging space (most recently Ronin), we have conducted an in-depth review of Mosaic and streamlined Mosaic design to improve its security. In the current design, the relayer is not aware of which event type (deposit or withdrawal) it is processing or on which chain; instead, the relayer is general and agnostic to Event:ContractMethod pair and ChainType. Once the relayer build is completed, the Mosaic pallet will go through testing. We have already implemented HSM to properly secure the keys associated with the Mosaic system.

Financial NFTs

Following the initial update of CHAOS, we’ve continued to develop and build on the most effective tokenomic design possible for PICA and the rest of our ecosystem protocols. Alongside our own technical developments of financial NFTs, feedback from the first iteration of CHAOS allowed us to make the improvements we felt necessary in order to achieve our core objectives. We have generalized the CHAOS token to financial NFTs, which can be used for all kinds of staking on Picasso. Compared to locked tokens, financial NFTs enable greater liquidity for users and capital efficiency for the ecosystem. Previously, users have to wait for a certain time period for tokens to unlock to exit and trade their positions; with fNFTs, all the information on a position (asset type, amount, locked duration, APY) are contained in the NFT and users can trade them easily and transparently. We will cover them in an upcoming post.

In the new design, CHAOS represents the locked yield-bearing version of PICA. Users will lock their PICA for various amounts of time to mint CHAOS, an fNFT that represents the amount of PICA locked and the duration, with the relevant multiplier proportional to how long a user locked for. Users holding CHAOS will earn yield in the form of PICA and other incubated tokens, as well as the yield from our actively managed treasury and various revenue streams such as network transactions. In the future, PICA that is locked to mint CHAOS fNFTs will additionally be deployed for collator staking, with these rewards then flowing back to CHAOS fNFTs too — creating one simplified stream of yield for holders.

We have completed the initial user story wireframing and user interface design. The pallet team has concluded the technical validation and we are in the middle of front-end build, developing screens for portfolio overview, fNFT staking, and more. We will be releasing a more detailed post covering our updated CHAOS and fNFT design in a future post.



We are building the Pablo DEX from the ground up to combine several functionalities such as various AMM types, custom fees, liquidity gauges, LBPs, bonding, protocol-owned liquidity, single-sided staking, and EVM assets on launch. The tech team is currently extending the customizability of Pablo, such that users can customize different parameters such as asset mix and fees to make the DEX more capital efficient. We will cover these functions in an upcoming post. Once confirmed, we will move on to blockchain integration and QA.

We are in the process of the second audit from Halborn, which covers all the pallets and runtime. Halborn raised some issues on the DEX router and we are implementing the fixes on Pablo. In addition to the ongoing audits, we are entering a Security Audit As A Service partnership with Halborn. The partnership will engage Halborn in continuous assessment and audit of Composable Finance’s code, as it has done with Terra and others.


As detailed in a recent post, we are building Centauri as a trustless bridging solution using light clients and on-chain finality proofs to connect ecosystems, starting with Cosmos and DotSama. At a high level, the bridge consists of three parts: light clients on both networks to prove finality on the other network, and a relayer that relays ibc packets and light client proofs. We have completed the development of the Beefy light client to be merged on the Cosmos side (pending reviews), and the other two components are under integration tests.

An exciting update is that the BEEFY finality gadget is now on Rococo testnet, kudos to the Parity team. We are glad to have contributed to this milestone, our PR on refactoring runtime subsystems for BEEFY to be generic for downstream runtimes, e.g. parachains has been merged. We are in the final stages of testing; once completed, we will be able to conduct testnet-to-testnet communications, for example Osmosis/Picasso. In addition, we have started working on the IBC-RS implementation for NEAR. Once completed, the light client will track NEAR finality on Cosmos, allowing for trustless bridging and communication between the two ecosystems.

Other developments

  • We are working to open the HRMP channels with Statemine and Karura. We have added the xtokens to runtime and reviewed existing Governance proposals to open further channels. The transfers will have test runs in the Devnet and we aim to open the channels when onboarded.
  • To facilitate easier API integration, we are looking to use Subsquid, a blockchain indexing solution used by other parachains such as Moonbeam, Acala, etc. We can use Subsquid across Picasso, Composable, and Angular. Our tech team is detailing the specifications from our side, such as funds raised aggregator RPBC, volume aggregator solution for LBP, etc. to be discussed with the Subsquid team.
  • We are building the Apollo oracle as a pallet and continuing with the pallet rollout.

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Composing DeFi for Mass Adoption

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