Dev Log no.4
We have time-boxed Mosaic development and completed core features for Pablo and our financial NFT (fNFT) design. For the first time in our series of dev logs, we will be showcasing the front-end we have been architecting to help deliver a smooth user experience (UX). In the meantime, we have kicked off development efforts for our cross-chain virtual machine (XCVM) and are already implementing the first CosmWasm contracts on a Polkadot parachain testnet!
Delivering Mosaic Phase 2 remains our biggest priority. We architected it to bring much needed EVM liquidity to Picasso and the broader DotSama ecosystem. This will be followed by extensive integration testing and code reviews before launch.
Contributors to our crowdloan will remember https://strategies.composable.finance. Participants generated yields for their stablecoins deposits in our Picasso and Composable Parachain crowdloans. We have finished implementing the migration screen for users directing their funds to Mosaic strategies once Phase 2 goes live. This does not impact the APYs for contributors on the strategies page. Also, when Mosaic Phase 2 goes live, users will then be able to participate in a new range of strategies in providing liquidity on Mosaic. For example, users can provide USDC on Polygon to meet any transfer needs to Polygon from Mosaic users. The same goes for all other supported assets and chains at Mosaic launch.
Pablo's development is ongoing, and we have finished the routing and testing. Routing is an innovative feature on Pablo and a key enabler for pool customization. For that, we have built a dex-router pallet on top of Pablo, which sends a pair of assets to the desired pool. This is an important step in the pool customization process. Hence users are free to create any pools, Composable Finance operates the dex-router to ensure that only pools that pass our QC will be connected to the dex-router and listed on the Pablo front-end. But, the Pablo DEX is still permissionless; any party can list any pool, and anyone can interact with the Picasso chain directly. We also created cool user interfaces for the pool customization feature; sneak peek below. You can follow the work on our dex-router here.
As a recap, CHAOS represents locked PICA; users mint CHAOS when PICA is locked in any yield-generating strategies with the amount and duration of the lock are represented in the financial NFT. Sneak peek below. You can follow the fNFT staking development here. Pallet build is underway, and we are working on several new features, including the splitting of fNFT and reward compounding for underlying assets.
We are excited to receive a grant from the Interchain Foundation, recognising our ongoing development of trustless bridging using IBC. We have completed the initial development for Centauri, a trustless bridge between Cosmos chains. It would be the first bridge between the two ecosystems, but it will also be done using finality proofs and light clients, thus provably secure. The codebase is under integration testing on three fronts:
- BEEFY light clients and our custom changes to IBC-Go
- Substrate support for Cosmos relayer
- Our implementation of pallet-IBC
Cross-Chain Virtual Machine (XCVM)
We are excited to be continuing the development of the XCVM, which allows cross-chain applications to orchestrate contract calls across various chains and layers through the IBC and satellite contracts on different chains.
We have chosen CosmWasm as the smart contract platform as it is battle-tested by chains such as Terra and compatible with the IBC; we will use our parachain as the L1 for the XCVM, making use of several advantages of a DotSama parachain, such as shared security and forkless upgrades.
To run CosmWasm smart contracts on a Polkadot parachain, we forked Ink, the smart contract pallet developed by Parity and we are working to make it compatible with Cosmos smart contracts. This involves a non-trivial refactoring of the smart contract and sandbox pallets from Parity.
We can already implement basic CosmWasm smart contracts on our testnet and plan an MVP demo at Polkadot Decoded in Berlin.
For more information about Composable Finance and how it is architecting the unified DeFi landscape of the future, check out our socials: