The Composable Parachain is live on Polkadot
Disclaimer: Information as of Mar 14, 2022. For the most recent updates, dive into our comprehensive documentation here.
Not so long ago, we shared our vision for a Composable parachain on Polkadot — how we will use its larger validator base to run our cross-chain virtual machine, how Composable will become a battle-tested cross chain hub, connecting DotSama with EVM chains, Cosmos, and beyond. Months later, thanks to over 6 million DOT contributed by our community, we are now excited to receive our parachain and get onboarded to Polkadot on 11 March 2022. In this article, we recap briefly our vision for Composable and share our high-level roadmap.
We believe in a cross-chain future, where liquidity flows freely and securely between any two chains/ layers and developers can build blockchain-agnostic applications that bring about the best outcome for users across chains/layers.
Similar to how the Port Control Protocol powers the networking for the Internet, our vision is to become the networking fabric of blockchain networks. It is our mission to service all interactions, transfers, and communications across ecosystems.
High-level view of the target architecture
Transfer availability layer: Mosaic uses several layers of assurance to ensure the success of cross-chain transfers, a necessary requirement for blockchain-agnosticism. It uses liquidity monitoring and forecasting to spot liquidity shortfalls early and rebalances its own vaults through external bridges to meet large demands. If the rebalancing takes too long, JIT liquidity bots can provide active liquidity to ensure that transfers are successfully executed.
Routing layer: An incentivized pathway selection mechanism that assesses all possibilities for a given action (e.g. taking out a loan of 100 USDC) across all chains, identifying and selecting the optimal pathway for a user.
Composable cross-chain virtual machine (XCVM): An interface that allows developers to orchestrate smart contracts across chains/ layers. It handles the complexity of routing to different networks, so that developers can focus on the products themselves.
Application layer: Composable will host a suite of applications as pallets to be used as DeFi building blocks by developers, including oracle, vault, DEX, LBP, Treasury, Governance, and more. The applications first run on Picasso, our parachain on Kusama, before graduating to Composable.
Needless to say, this is a bold and ambitious undertaking; we will tackle it in phases, as explained below.
High-level launch plan
Our launch will take a phased approach, similar to what we have planned for Picasso. The high-level thinking is to ensure the parachain is operational, launch core pallets to enable basic DeFi applications, then enable Composable-specific features such as the XCVM.
The first phase will be focused on technical assurance, as well as onboarding the core pallets. We will use several tests to ensure the parachain is operating as intended in terms of block production and verification. We will use Sudo key to onboard a set of core pallets in several runtime upgrades, including:
- Apollo (Oracle)
- Cubic (Vault)
- Vesting
- Crowdloan
- Multisig
- Governance/Registry
- Democracy
- Bonding
In addition, community members who contributed to our crowdloan between December 2021 and January 2022 will be able to claim their LAYR tokens. We have allocated 16% of LAYR’s total supply for this Polkadot crowdloan, with 25% claimable on TGE, the remainder vesting over two years.
The second phase will be focused on onboarding other pallets to enable basic DeFi application functionality..We will use Sudo to onboard Mosaic as a pallet on Composable, bringing liquidity from Ethereum and various L1 and L2s such as Polygon, Arbitrum, Fantom, Avalanche, Moonbeam, etc.
Future plans
Later in our roadmap, we will be onboarding pallets to enable Treasury, DEX, and LBPs on Composable. Liquidity directed from other chains/layers through Mosaic will be able to make use of the various yield opportunities in fair launches, exchange, and liquidity provisioning. We are also building our sister chain on Kusama, Picasso, as the cross-chain hub of DotSama.
Both parachains can work synergistically to allow Composable to accomplish its vision of being the multi-ecosystem hub. Composable aims to use these parachains to allow communication and function execution such as ecosystem agnostic computing. For example, users will be able to use Pablo, our DEX, alongside other dApps within our ecosystem on both chains based on optimal route preference and asset holdings. Moreso, pallets on Picasso can also get the chance to graduate to Composable parachain based on governance voting.
After Composable is onboarded with key features, we will remove our Sudo key and let the community vote on which pallets can graduate to Composable. Angular, a cross-chain lending protocol will likely be the first pallet we put forward for the community to vote on. Following Angular, we expect to put forward products developed by Composable Labs pending comprehensive audits. We also expect to launch the Composable XCVM, currently in development, in the second half of 2022.
We are proud to become one of the first Polkadot parachains; with each step of development, we move closer to a blockchain-agnostic future, fully interoperable by design and seamless for developers and end-users.
For more information about Composable and how it is architecting the unified DeFi landscape of the future, check out our socials:
