What is PICA token?
PICA is the native token of the Picasso Parachain.
What is PICA token used for?
- Staking for validating transactions
- Governance of the chain
What is Picasso?
Picasso is the Kusama Parachain of the Composable Finance project. Composable is a project for bringing composability in cross-chain and layer-2 DeFi.
Composable is starting with layer-2 composability for Ethereum and integration with zKSync.
And moving forward with Picasso parachain on Kusama and then an parachain on Polkadot for Layer-2 and layer-1 complete interoperability.
How does Picasso work?
Collators stake PICA tokens to validate transactions and earn transaction fees.
Network usage is payable in PICA.
Data providers of Picassos native oracle will need to stake PICA and are rewarded in PICA (% of transaction fees) for correct data.
Governed by Picasso General council and later by PICA tokenholders.
- Projects for Picasso
- Treasury for incentives
- Which projects to select for the Polkadot chain
- Incentives for infrastructure providers
Crowdloan is currently ongoing and users can participate with KSM and ERC-20 stablecoins.
Total supply: 10 000 000 000
- 20% Crowdloan stakers
- 10% LAYR stakers (Composable Finance token)
- 15% Team
- 15% – Treasury
- 30% – Liquidity
- 10% – Protocol Emissions
Vesting: 50% at TGE and vesting over 48 weeks