Polkadot & Kusama ecosystem projects directory
Polkadot & Kusama ecosystem projects directory

Composable Finance

Composable’s parachain is going to be able to run multiple bytecodes together in the same place, in order to run smart contracts together in a manner that allows them to communicate and collaborate. As a result, protocols using different smart contract languages (i.e. those on different chains, especially) will be able to unite via our parachain, facilitating cross-chain asset swaps and other functionalities.
Relative Project:   Picasso  Picasso
Tokens:  LAYR
Status
Announced
Testing
In Auction On Polkadot
Auction
polkadot
Polkadot
Auction 7: WINNER
Slot #8: leasing March 11, 2022 - January 16, 2024
Parathread ID: 2019 
Funds Raised: 6 075 487 DOT ($37 971 792)
Parathread ID: 2019 
Project Auction Info:  auction details 
Reward: 1 DOT : 2.6+ LAYR
Crowdloan Cap: 25 000 000 DOT
Reward Pool: 16m of 100m (16%)
  • 25% of LAYR will be available to claim immediately
  • 75% of LAYR will vest/unlock linearly over a 1.5 years
  • 5% bonus for staking in the first 24 hours
  • 5% bonus to those who previously contributed KSM to Picasso Crowdloan
  • 10% bonus to stakers first three days of crowdloan
Developer Activity
Are you the project representative? Contact Us to update information
Primary Token:
LAYR
Total Supply:
100 000 000
LAYR Distribution
News
Sep 26, 2022 at 14:54 UTC
Sep 6, 2022 at 17:14 UTC
Aug 19, 2022 at 16:46 UTC
Aug 3, 2022 at 13:58 UTC
Jul 29, 2022 at 19:00 UTC
Jul 28, 2022 at 16:57 UTC
Jul 21, 2022 at 15:30 UTC
Jul 7, 2022 at 18:59 UTC
Jul 5, 2022 at 12:37 UTC
Jun 17, 2022 at 18:52 UTC
Jun 3, 2022 at 19:16 UTC
May 22, 2022 at 13:17 UTC
May 20, 2022 at 15:43 UTC
May 6, 2022 at 19:49 UTC
Apr 21, 2022 at 14:32 UTC
Mar 30, 2022 at 16:57 UTC
Mar 2, 2022 at 16:41 UTC
Feb 18, 2022 at 19:20 UTC
Feb 3, 2022 at 15:55 UTC
Feb 2, 2022 at 13:09 UTC
Jan 31, 2022 at 17:45 UTC
Jan 24, 2022 at 16:19 UTC
Jan 14, 2022 at 15:51 UTC
Dec 27, 2021 at 16:57 UTC
Dec 21, 2021 at 18:07 UTC
Oct 18, 2021 at 19:33 UTC

What is Composable Finance?

Composable Finance is a cross-chain, cross-layer, comprehensive DeFi infrastructure, powered by Layer 2 Ethereum and Polkadot. Our ultimate goal is to make the seamlessly interoperable future of DeFi into a reality, via our suite of product offering intended to resolve particular pain points in interoperability.

How is Composable funded?

The most recent round of funding for Composable Finance raised a total of $7 million. This is an incredible step for the company, pushing it into the future and towards new advancements.

Leading this round were Advanced Blockchain AG and Rarestone Capital, both of which are key venture capitalists investing in the blockchain industry. Together these organizations used strategic investors to make this funding round a success.

How was Composable Finance created?

Through its subsidiaries, Advanced Blockchain AG incubated Composable Finance on the technical side and provided the intellectual property for Composable. During this period, Cosmin Grigore was the Lead Developer on the project. This incubation was completed alongside top-tier Web 3.0-focused venture capital firm Rarestone Capital, which assisted with product strategy and rollout for Composable Finance. Subsequently, Composable Finance was spun out, retaining Cosmin as its CEO. Advanced Blockchain also reinvested into Composable.

What is Composable’s parachain vault strategy?

This tool is designed to accumulate the necessary DOT or KSM tokens to obtain a parachain in auction (from Polkadot and Kusama, respectively). This is done in a manner that incentivizes users, and allows them to share in the yield farming of their deposited assets, which are converted to KSM/DOT on the backend. Thus, our protocol, and other protocols using our vaults are best positioned to obtain parachains.

Why is Composable’s parachain vault strategy important?

Current means of parachain procurement (i.e. DOT and KSM procurement) involve crowdloaning from users. However, there is an opportunity cost to users in this model, as they miss out on staking rewards that they typically earn in DeFi processes. Composable’s strategy incentivizes users with a share of vault yield, therefore attracting increased participation, and benefitting both users and the protocols making use of our strategy.

What does Composable’s parachain accomplish?

Composable’s parachain is going to be able to run multiple bytecodes together in the same place, in order to run smart contracts together in a manner that allows them to communicate and collaborate. As a result, protocols using different smart contract languages (i.e. those on different chains, especially) will be able to unite via our parachain, facilitating cross-chain asset swaps and other functionalities.

Where can I find more information about the Composable Team?

If you’ve already checked out our “Team” tab, you can find more information using the resources below:

  • Advanced Blockchain AG’s homepage is here, with their complete portfolio here, and their newsroom of announcements and updates here.

  • The experiences of our Co-Founder and Lead Developer Cosmin can be found on his LinkedIn.

Our Head of Product and Lead Polkadot Developer can be followed on twitter.