Composable Finance Launches Industry-First Stablecoins Contributions for Parachain Crowdloan By CoinQuora

Composable Finance Launches Industry-First Stablecoins Contributions for Parachain Crowdloan

Composable Finance, a decentralized finance (DeFi) infrastructure project aiming to improve financial applications on the blockchain, has announced its acceptance of stablecoins into its crowdloan. This is a major development in the space, as it marks the first time that users can contribute stablecoins into a crowdloan for a parachain, instead of having to purchase and deposit Kusama.

Parachains are an increasingly sought-after tool in DeFi. These project-specific blockchains run parallel to each other and enable seamless communication and data transfers across blockchains in the Polkadot ecosystem. Composable has been working towards developing its own parachain, Picasso, which will be on Kusama, the canary network of the

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