Composable Finance, an innovative blockchain protocol, is running ahead of schedule in its development of an interoperable ecosystem for decentralized finance (DeFi), which can be broadly defined as the use of blockchain to power financial tools. To keep up with their pace of development, the company is raising funds from user contributions through a crowdloan, with the goal of procuring a popular tool called a parachain in the upcoming weeks. Composable has been making great strides towards obtaining and building its parachain, Picasso, which will be on Kusama, the canary network of the Polkadot blockchain. Parachains are project-specific blockchains that enable communication and data transfers to happen seamlessly across blockchains in the Polkadot ecosystem. The Picasso parachain thus serves as a key component to the interoperable future that Composable envisions. Specifically, Composable is working to build its parachain Picasso with all of the building blocks (called pallets) necessary to introduce a complete DeFi ecosystem to Polkadot. As recently announced, Composable will be moving up their Kusama parachain bid date, demonstrating the company’s incredible progress towards its goal of delivering an interoperable infrastructure to DeFi. About the announcement, CEO Cosmin Grigore said, “We initially wanted to bid for a slot in a few weeks – but there’s no point in waiting so long. We want to provide our parachain as...
