Picasso (PICA)

Governance

Picasso's native token $PICA is used for governance, allowing holders to participate in decisions like onboarding AVS operators.

Staking and Restaking

$PICA can be staked to secure Picasso's blockchain infrastructure and earn staking rewards. It also supports restaking, where users can restake assets like Solana tokens to earn additional rewards.

Bridging and Fees

$PICA is used to pay bridging fees for transferring assets across multiple blockchains. Stakers receive 20% of these bridging fees as rewards.

Cross-Chain Security

$PICA helps secure multiple ecosystems by enabling cross-chain restaking and supporting the IBC protocol for fast, secure, and seamless asset transfers between over 30 networks.

Value and Rewards

$PICA accrues value through revenue distribution from restaking and bridging activities, rewarding stakers based on the success of Picasso’s cross-chain ecosystem.

For more details, visit picasso.xyz.

Pros

• Cross-ecosystem restaking: Picasso allows users to restake tokens across multiple blockchains like Solana, Cosmos, and Polkadot, increasing security and rewards.
• Native interoperability: Uses the IBC Protocol for fast, secure, and seamless cross-chain transactions without relying on third parties.
• Multiple use cases for $PICA token: Includes governance, staking rewards, restaking rewards, and bridging fees, providing diverse ways to earn and participate.
• Non-custodial bridging: Enables direct asset transfers between ecosystems without KYC or custodial risks.
• Strong backing and partnerships: Supported by major investors and collaborators like Coinbase Ventures, Jump Capital, and Blockchain Capital.
• Growing user base and volume: Over 19,000 users and $60.7 million in transaction volume, showing active adoption.

Cons

• Complexity: The multi-chain restaking and bridging features may be challenging for beginners to fully understand and use.
• Ecosystem dependency: Benefits depend on the success and security of multiple blockchains and validators.
• Emerging technology: Some features like generalized restaking ecosystems are still coming soon, so full potential is not yet realized.

Founders of Picasso

The website https://picasso.xyz/ does not explicitly list the founders of Picasso. However, Picasso is part of the Composable Foundation, which supports the project. For detailed founder information, you may explore the Composable Foundation's resources or community channels linked on the Picasso site.

Investors in Picasso

Picasso is backed by several well-known investors and collaborators including Coinbase Ventures, Blockchain Capital, Jump Capital, LongHash Ventures, GSR, Spartan Group, SOSV, Hash CIB, NGC Ventures, NewForm, Rarestone, Maven 11, Fudamental Labs, Advanced Blockchain, DFG, Figment Capital, Succint, Frax, Marinade, Redacted, JITO, Morpho, Curve, StakeDAO, Osmosis, Espresso, Meteora, MarginFi, Solend, Rome, Kamino, Orca, Edgevana, Stride, Secret Network, TFM, Shade Protocol, Astroport, and Neutron.

For more details, visit https://picasso.xyz/.

Halal Status of Picasso

• Yes
  Picasso is a blockchain project focused on restaking and cross-chain interoperability. It does not involve interest (riba) or gambling elements, which are typically concerns in halal finance. Its use as a utility token for governance, staking, and bridging aligns with permissible activities in Islamic finance.

For more details, visit https://picasso.xyz/.