Picasso and PICA play crucial roles in the ever-growing ecosystem and future of Composable. PICA is the native token of two blockchains - Picasso on Kusama, and the Composable Cosmos Chain on Cosmos.
PICA is the token powering cross-ecosystem IBC. As a practical example of this, Picasso currently powers cross-ecosystem IBC transfer activity between the Polkadot, Kusama, and Cosmos ecosystems, with other ecosystems including Ethereum and Solana soon to be connected this becomes a massive value proposition.
# PICA token use cases
PICA functions as a native cross-ecosystem token that ultimately powers the IBC future. PICA’s utility is extensive and multi-faceted, powering a wide range of functionalities across various ecosystems. As siloed ecosystems like Polkadot and Cosmos continue to interact and cross-pollinate, value inherently accrues to the PICA token, positioning it as the backbone for a more interconnected blockchain future.
* **Revenue from cross-ecosystem IBC Through PICA Staking** - By staking PICA users will be granted a share of the revenue (in proportion to their stake) generated from cross-ecosystem transfer activities conducted via cross-ecosytem IBC.
* **Network usage** - as the utility token of Picasso and Composable Cosmos, PICA is fundamental for; gas payments and CosmWasm smart contracts.
* **Oracle staking** - Picasso hosts its own permissionless oracle solution, users can choose to run their own oracle and collect rewards by providing a PICA stake.
* **Collator staking** - as with most proof-of-stake networks, collators are required to put down a stake in order to produce blocks on our parachain. Collators are then rewarded with 25% of the fees collected on Picasso.
* **Validator Staking (Composable Cosmos Chain)** - PICA is currently being utilized to secure the Composable Cosmos chain. This is the first instance of a token being utilized for ‘validation’ within both the Kusama and Cosmos ecosystems and highlights the critical role PICA plays within cross-ecosystem IBC.
* **Primary DEX pairing** - Pablo is the native DEX of the Picasso ecosystem and is integrated directly into our parachain’s runtime as a specialized pallet. An essential component to its operation is PICA, which serves as one of the primary tokens for trading pairs.
* **Governance** - The PICA token plays an important role in Composable's approach to fair and transparent network guidance and decentralization. PICA holders are responsible for governing the Picasso and Composable networks.
* **Liquid Staking (Coming soon)** Composable prepares to roll out staked DOT (LSDOT) to underscore the direct value add and revenue that will be channeled to PICA token holders.
# Where can you buy PICA?
* Swap on Picasso's native DEX, app.Pablo.finance
* Swap on Osmosis Zone
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How to Buy PICA on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing PICA. Some reputable platforms include MEXC、KuCoin、BingX, and others.
Step 2: Register an Account
Here, we'll register an account on the KuCoin(registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing PICA.
Step 5: Purchase PICA
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of PICA you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy PICA.
Step 6: Store Your PICA
After purchasing, you can choose to store your PICA in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and PICA assets, be sure to use a strong password and enable two-factor authentication.
PICA Price:Picasso is the first censorship-resistant, trust-minimized interoperability solution (cross-ecosystem IBC Hub) and the first platform to offer a universal re-staking layer.The price fluctuates daily, you can go to the exchange: KuCoin to check the price.
Recommended Similar Coins: NTRN、OSMO