The Picasso network's native PICA Token is integrated into the Moonriver ecosystem

Moonbeam, the preferred multi-chain development platform on Polkadot, announced that Moonriver and Picasso, the parachains for Moonbeam and Composable Finance’s Kusama, respectively, have reached XCM integration. The integration brings Picasso’s PICA Token to the Moonriver ecosystem and allows users to use MOVR on the Picasso network. Both parachains offer cross-chain interoperability solutions that bring together the Cosmos and Dotsama ecosystems.

As a DeFi hub parachain on Kusama, Picasso sends and receives messages to other parachains or relay chains through the use of XCM and benefits from the shared security and interoperability features offered by Kusama. Picasso also leverages IBC bridging technology to connect to the Cosmos ecosystem, further empowering its own Composable Cosmos ecosystem.

By leveraging Picasso’s DeFi infrastructure and applications, Moonriver has expanded the DeFi product categories it offers. Moonriver users have access to Picasso’s financial products and services, allowing them to attract more liquidity and DeFi activity on the network.

As Moonbeam’s Kusama network, the Moonriver parachain has the same functionality as Moonbeam, but operates in a more experimental and rapidly deployable environment. XCM integrations on Moonriver, such as the Picasso integration, provide an opportunity for the Moonbeam mainnet to test new features.

Moonriver provides an important connection between the Ethereum and Kusama networks, enabling Ethereum-based applications and smart contracts to integrate and run on Kusama. This positioning enables developers to test and refine cross-chain integrations in the real world, but with less risk, and access to tools on multiple blockchains, such as Ethereum smart contract functionality, Polkadot XCM, and Cosmos IBC, through Picasso.

About Moonbeam:

Moonbeam is a smart contract platform for building cross-chain interconnection applications that provide access to users, assets, and services on any chain. By consolidating features from Ethereum, Cosmos, Polkadot, and more into a single platform, Moonbeam solves the fragmentation of today’s user experience, unlocks true interoperability, and lays the foundation for next-generation applications. The Moonbeam platform uses integrated cross-chain messaging to allow developers to create smart contracts that access multiple remote blockchain services. This combination of Moonbeam’s developer-friendly EVM platform, tooling support, and Substrate architecture provides an ideal development environment for building connected applications.

About Composable

Composable is committed to improving the accessibility, quality, efficiency, and security of decentralized finance. This is achieved through a technology stack that supports cross-chain execution. Composable’s goal in the future is to enable users to achieve the goal of “access to any funds anywhere”, which is to use any asset on any network by establishing trust-minimized interoperability for common order flow settlement.

Source: Golden Finance