Picasso Network

Picasso Network is the Kusama canary network of Composable Finance, focused on cross-chain interoperability and restaking infrastructure.

Its core business includes: 1) IBC-enabled bridging that connects non-Cosmos chains like Solana and Ethereum to the Interchain ecosystem; 2) A restaking platform where SOL and liquid staked derivatives can secure Actively Validated Services (AVSes) such as bridges, dApps, and L2 rollups; 3) A generalized restaking hub that allows project creators to select operator communities to secure their services.

The market pain point it addresses is the fragmentation and security limitations of traditional cross-chain bridges, which often rely on trusted third parties. Picasso solves this by extending IBC's trustless, permissionless, and censorship-resistant communication protocol to new chains. For restaking, it unlocks liquidity from Solana's staked assets to participate in shared security models previously limited to Ethereum.

In the past six months (2026-02-28 to 2026-08-31), Picasso launched Solana restaking mainnet, enabling SOL holders to delegate to operators and earn rewards from AVSes. It also expanded IBC connections to additional networks and continued developing the guest blockchain solution that replicates Solana's state for IBC compatibility. The team has been working on DOT restaking integration, though this was still in testing phases as of late August.

A notable negative event: in early 2025, a vulnerability in a third-party bridge contract led to a temporary loss of funds, which was later recovered. This highlighted the risks inherent in cross-chain infrastructure but did not affect Picasso's core IBC implementation.