How to buy, bridge and stake $PICA on Picasso chain

Published: 12. December 2023

Updated: 17. June 2024

Welcome to the world of Composable Finance, a project revolutionizing the bridging of ecosystems using Inter-Blockchain Communication (IBC). In this guide, we’ll walk you through the process of buying, bridging, and staking $PICA on the Picasso chain, making the seemingly complex journey a breeze.
Composable Finance consists of two parachains—Composable on Polkadot and Picasso Kusama which is Kusama Parachain—alongside the standalone Picasso chain, equipped with its own validators. But what’s $PICA? It’s the powerhouse token facilitating IBC connections between Polkadot, Cosmos, Ethereum and Solana.

It might seem a bit daunting at first, but after you read this guide you will know how to buy, bridge and stake PICA.

Prerequisite

Depending on which ecosystem you are the most familiar with you might need a different type of wallet. You will need one wallet compatible with cosmos chains and another for the specific chain you plan to use.

We will list all of the compatible wallets you can use to stake PICA.

It is also expected that you know the mere basics of at least knowing how to fund your wallet ( or account on CEX if you decide to go that route).

Metamask

(Ethereum, Cosmos)

For the Ethereum: This is the only wallet currently available to use for using the Picasso app to bridge PICA from Ethereum to Picasso. You can use any other wallet if you want to buy PICA on Uniswap but to bridge it via IBC you will need to use Metamask.

For the Cosmos side: You can now use Metamask on Cosmos SDK based chains using Leap Snaps. Overall it functions as it should but the problem is not every Dapp has implemented Metamask as a wallet option. It is possible to make it do it all on Metamask but you will need to use some other Dapps to achieve this depending on the route. For example you can trade on Osmosis if you use TFM to trade the tokens instead of going to the official DApp.

Keplr and Leap

(Cosmos)

Keplr and Leap wallet are both native wallets for cosmos based chains. They both have similar features and are both user friendly. It all comes down to user preference.

Talisman and Polkadotjs

(Polkadot, Kusama)

Talisman wallet is a user-friendly wallet for the DOT/SAMA ecosystem which is easy to use. On the other hand, there is a Poladotjs wallet that has many advanced features that are meant for developers and advanced users and can be seen as a challenge for users not accustomed to this ecosystem.

Nova wallet (for Android and iOS)

(Polkadot, Kusama)

Nova wallet is only required if you plan to use the phone to buy and bridge PICA. Check the mobile section for more details.

Phantom

(Solana)

Phantom is a popular wallet for the Solana blockchain. It was created in 2021 and they have over one million users. It is an easy wallet to use for staking SOL, buying NFTs and viewing it directly from the wallet and many more features.

Currently it is the only wallet that can be used to send tokens via IBC on the Picasso app.

Apps you might need to use

This is the list of all apps and services you might need:

How to buy PICA token

Now, let’s get some $PICA in your wallet. There are a few options:

  • Gate.io : A centralized exchange (CEX) option; requires KYC.
  • Pablo DEX: A decentralized exchange on the Picasso Kusama network.
  • Osmosis: A major DEX in the Cosmos ecosystem.
  • Shade: A DEX on the Secret network, offering token privacy features.
  • Orca: Easiest and straightforward DEX on Solana.
  • Uniswap: The most popular DEX on Ethereum.

Gate.io

Gate.io is a CEX (centralized exchange) that exists since 2013 and is in the top 10 worldwide in trading volume. If you plan to use Gate.io you will need to do a KYC on the exchange to use it. After you buy PICA transfer it to your Picasso Kusama address (on your talisman wallet) and after that follow how to bridge PICA from the Picasso Kusama to the Picasso chain.

Pablo

Pablo is a DEX (decentralized exchange) on the Picasso Kusama. If you want to buy PICA on Pablo you will need Talisman or Polkadotjs wallet. If you don’t have any tokens on the Picasso Kusama you will need to bridge some tokens first. You can transfer KSM, DOT or USDC using the Picasso app. After you transferred assets connect your wallet to Pablo exchange and near the wallet icon, there is a cogwheel for settings. Press it and change the gas token to the asset you just transferred. After that, you can swap for PICA.

Osmosis

Osmosis is a major DEX in the Cosmos ecosystem. It has its blockchain and its token OSMO. If you plan to use Osmosis you can use over 90 tokens as a gas token. Osmosis also has an on/off ramp via Kado Money where you can buy OSMO or USDC and send it directly to your Osmosis address. Alternatively, you can get any other token from the Cosmos ecosystem (for example ATOM, INJ, STARS, JUNO, etc.) and send it via IBC to Osmosis. OSMO is also available on some centralized exchanges if you want to buy it like that. When you have funds for trading available on osmosis swap it for PICA and bridge it to Picasso chain.

Shade

Shade is a DEX on the Secret network. Shade has a feature of wrapping tokens to preserve their privacy. So almost all tokens that are trading  on Shade are wrapped. In this case, PICA is too. If you plan on using Shade you will need an SCRT token so you can execute transactions. You can buy SCRT using Kado, CEX, on some cosmos DEX like Osmosis, Kujira etc. When you do buy a PICA token on Shade you will need to unwrap it. Head over to Wrap on Shade and unwrap PICA. After that, you can bridge it to the Picasso chain.

Orca

Orca is an Automated Market Maker (AMM) on the Solana blockchain. Orca offers a user-friendly place to exchange cryptocurrencies on Solana.

The process to buy PICA on Orca is very simple. Fund your Solana wallet and connect to the DEX. Select the token you will use to pay to receive PICA. Confirm the trade and a pop-up window from your wallet will show asking you to sign the transaction. You will also need some SOL to sign the transaction.

Uniswap

Uniswap was one of the first decentralized finance (or DeFi) applications to gain significant traction on Ethereum. And one of the first tokens that came via IBC on this DEX was the PICA token!

The process of buying PICA is simple. Got to the Uniswap select token you want to pay for PICA. Confirm the transaction and sign the transaction later when the pop up window from your wallet shos up. You will need ETH to pay fees for the transaction. Makse sure to have at least 70$ worth of ETH to pay for the swap and to pay for IBC transaction later. A word of advice! Make sure that the token you are buying is the real PICA. It should have PICA logo and the ID should look like this for the token 0xBB63a9b64a80E9338b8Ea298c51765E57C4F159c. Always check the first and last couple of letters. You can also go here and do the trade just to be safe https://app.uniswap.org/explore/tokens/ethereum/0xbb63a9b64a80e9338b8ea298c51765e57c4f159c

How to bridge PICA

We will try to explain all of the possible routes that will lead your PICA to the Picasso chain. But first, let’s ensure your wallet has the chain added. This step is only required if you use Keplr, Leap wallet has the Picasso chain added by default and Metamask connects to cosmos chains using Leap Snaps.

To add the chain to Keplr go to this link https://chains.keplr.app/ and search for Picasso. Make sure to select the mainnet.

Now you can open the Picasso app. It is the main application where you can initiate IBC across different chains. The process is simple.  and select to which chain you want to receive. Connect the necessary wallets and be sure to have tokens to pay gas fees for chain of origin.

  1. Select from which chain you want to send the assets
  2. Select to Picasso to receive PICA there
  3. Select PICA token
  4. Enter the amount you will be sending
  5. Connect the necessary wallets

If you did all of the steps make sure to make one last check if everything is alright. Then you can press the send button.

From Cosmos ecosystem

If you plan to buy PICA in the Cosmos Ecosystem (Osmosis, Shade) it might feel more natural since Picasso is a chain based on Cosmos SDK. It is also the only route that you only need one wallet to do everything. 

The con here might be a bit of more complexity. You will need to send assets to multiple chains since it is not all one chain and this might confuse some people.

We will try to explain what steps you will need to take to achive this:

  1. Fund your wallet and make sure to have it on Osmosis or Secret (Shade) depending on the route you want to take. Osmosis might be easier if it is your first time using any Dapp from the cosmos ecosystem. Or if you preffer some degree of privacy the go with Shade.
  2. Buy PICA token
  3. Go to Picasso app and select from which chain you will be sending the PICA and select to Picasso. Connect the wallet and confirm the transaction.

From DOT/SAMA ecosystem and from CEX

Wether you plan to buy PICA on Pablo, or you already bought PICA on the exchange the route is simmilar althoug there are some extra setps and costs depending on how you plan to approach this. 

If , for example, you wanted to use DOT to buy PICA on Pablo you would need to send DOT via IBC first to Picasso Kusama. This kind of transaction has additional fees, 0.5% will be deducted from total amount of tokens being sent. Then you will need to make the swap to the PICA token.

For users who bought PICA on the exchange they will need to sent tokens to their own wallets. You will need to send them to your Piacasso Kusama address. You will need to find your address in your wallets (Talisman,PolkadotJS).

And from Kusama it is simple it just needs assets to be sent via XCM. You can do this through the PIcasso app. From there you can buy PICA on Pablo.

 After you have acquired PICA and it resides in your own wallet you can now sent it using the Picasso app.Select from Picasso Kusama to Picasso. Connect all of the necesarry wallet (Talisman, PolkadotJS + Cosmos wallet) and confirm the transaction. There is also a fee of 0.5% when sending from Picasso Kusama to Picasso chain.

From Solana

When you acquire the PICA token from the DEX connect to the Picasso app. 

  1. Select from Solana to Picasso
  2. Connect the necessary wallets ( Phantom + Cosmos wallet)
  3. Confirm and send your PICA

There is a 10$ fee when sending tokens between Solana – Picasso.

From Ethereum

When you acquire the PICA token from the Uniswap connect to the Picasso app. 

  1. Select from Ethereum to Picasso
  2. Connect the necessary wallets ( Meta Mask + Cosmos wallet)
  3. Confirm and send your PICA

There is a 20$ + 0.4% fee when sending tokens between Ethereum – Picasso.

This is all new to me is there an easier way where I just click a few buttons?

If you haven’t ever used any wallet or Dapp from any of the ecosystem mentioned here or maybe you are using cryptocurrency for the first time there is an easy solution. TFM** and IBC.fun has an IBC Swap feature. For example, you can use ATOM from the Cosmos hub and it will swap ATOM for PICA on Osmosis and send it to the Picasso chain all with a couple of clicks.  For this you will only need one wallet (Keplr or Leap) and funds to trade. You can make IBC swaps from any chain and get PICA token on the PIcasso chain.

It is simple. Select from which chain you want to send to Picasso chain. Select what asset you want to send and which asset you want to receive (in this case we want a PICA token). It will make multi-hop transfers and some swaps all automatically. 

There is no preference between these two products. They will achieve the same thing for you.

**Note when using TFM you will need to select Composable instead of Picasso chain. Picasso on TFM is actually Picasso Kusama.

How to stake PICA

Cogwheel Explorer

Go to our explorer and select the Picasso chain. Connect your wallet to our explorer (or you can use other explorers for example ping.pub) by pressing on the wallet icon and select the wallet you want. 

Then switch to the staking page and you will see the list of all validators. But to whom should you stake? Do your own research on every validator and what kind of services they offer. If you are undecided as to who you should stake the best thing would be to split the assets you want to delegate to multiple validators. That way you can support the work of multiple validators. 

When you have decided to whom you will stake press the delegate button and then insert the amount you want to stake. Press send and a pop-up window will show where you will confirm the transaction with your wallet.
And if you reached this far then we congratulate you! You are officially a PICA staker!

KeplrPopUpWindow

Leap Dashboard

Leap has integrated the chain under their Dashboard. In theory, you should be able to connect to Leap Dashboard using Keplr, Leap and Metamask. Leap Dashboard is a great app it has even integrated IBC transfers, it shows you all of the assets across different blockchains and it supports many blockchains.

Our recommendation is to use Leap Wallet. If you plan to stake with Leap disable any kind of anti-tracker or any extension that blocks adds since it might hinder the app from loading all assets.

Open Leap Dashboard. When all assets are loaded correctly proceed to the staking tab. After that, you will see the staking page. Here you will need to select “Picasso” then select the validator you want to stake, enter the amount of PICA you want to stake and confirm the transaction. 

**Note: Auto compound feature is a part of REstake which auto compounds your PICA. We support this feature but if you plan to use this feature you will need to stake with us, or any other validator that supports this feature. To see who has REstake check on this page https://restake.cogwheel.zone/composable

Stake PICA on your phone

You can buy, bridge and stake PICA all by using your phone. Although it might be more complicated depending on the route. Plus some Dapps are not mobile-friendly.

The Cosmos route is by far the easiest to achieve on the phone. You can do it all inside one wallet. You can swap the tokens on Osmosis or Shade inside the wallet. You can stake using explorers like Cogwheel, Ping Pub or Leap Dashboard or you can stake inside the wallet apps.

For the Keplr mobile:

  1. Go to staked section and press stake
  2. Select PICA asset
  3. Chose to which validator you want to stake
  4. Enter the amount and confirm the transaction

For the Leap Mobile

  1. Select Picasso chain and select stake
  2. Select the validator you want to stake your PICA
  3. Confirm and sign the transaction

Keplr wallet

Leap wallet

Ethereum route could also be considered easy if you plan to only use Metamask. You could buy PICA on Uniswap and later connect to the Picasso app. When connecting wallets you can use Metamask for both sides. When staking with Metamask you will need to use Cogwheel or Ping pub Explorer. But if for some reason you want to use Keplr or Leap you will need to copy Picasso’s address from these wallets and in the section select destination wallet check “send to custom address” and paste in the address. 

The reason it has to be like this is that you cannot connect 2 wallets at the same time on the phone.

For Solana, you will have to do a similar thing that we mentioned above. Connect the Phantom wallet and for the destination address, you will need to paste in the address. Then you will have to stake using Leap or Keplr wallet.

For DOT/SAMA you will need to use Nova wallet if you want to stake using your phone.  If you need to connect your wallet anywhere select connect PolkadotJS wallet. It will connect your Nova wallet instead. As for sending your PICA to Picasso, you will need to copy the pica address from the Leap/Keplr wallet and paste it into the select destination wallet.

Using your phone might be a bit tricky and require more patience to achieve the same process on the PC. But if you really desire to use the phone you now have a guide to follow along.