Composable Finance's Kusama Parachain Picasso to Go Live on November 25th

Polkadot ecosystem DeFi protocol Composable Finance's Kusama parachain, Picasso, is scheduled to go live on November 25th.

It is reported that the launch of Picasso will be divided into two phases. First, in Release 1, users will be able to view their crowdloan rewards which is locked but will be and transferable in release 2. The initial assets to be supported in this phase will be $KSM and $USDT.

The team has scheduled Phase 2 of Picasso release to happen by mid-December 2022. This phase entails the rollout of their DEX, Pablo. With Pablo going live, holders of the $PICA, the native token of the Picasso parachain, will be able to trade their holdings across the following pool pairs: KSM/USDT, PICA/KSM, and PICA/USDT.

In addition, XCM Channels to Kusama relay chain and Statemine is also expected to go live in Phase 2. Composable's Cross-chain Virtual Machine (XCVM) will be available at the same time.