Picasso aims to become the DeFi hub of Kusama, connecting parachains with the broader Cosmos ecosystem. Through opening this XCM channel, Karura assets will have access to Picasso dapps, thereby increasing the utility and TVL of aUSD and other Acala tokens.
For example, we will setup pools for aUSD and KAR on Pablo, as well as integrating them within our later released pallets such as CosmWasm. This opens up the possibility to also support these tokens within our IBC bridge that will launch in the future too.
Accepts existing open request channel from Picasso
Sends open request to Picasso
12 KSM to be on Parachain 2000(Karura) account
Sends XCM message to Kusama
Puts 2 KSM into holder from Parachain 2000 account