This proposal aims to register the foreign asset USD Coin (Moonbeam Wormhole).

It utilizes the `MultiLocation` of the USDC Wormhole contract on Moonbeam that's located at address [0x931715FEE2d06333043d11F658C8CE934aC61D0c](https://moonscan.io/address/0x931715FEE2d06333043d11F658C8CE934aC61D0c#code).
USDC will immediately be available as a base asset in prediction markets.
Furthermore, USDC can be utilized to pay fees. A fee factor of approximately 0.038 (USDC/ZTG) is initially used for the conversion.

- Problem Statement: Five parachains have requested an HRMP channel with Statemint, but the process to accept them all and open return channels is complex and requires careful execution. The intended audience is the Polkadot community, particularly those involved in governance and technical operations.
- Significance: The successful establishment of these channels is crucial for the interoperability and functionality of the Polkadot network, affecting multiple parachains and the Statemint common-good chain.
- Proposed Solution: The post outlines a detailed process to accept all channel requests and return channel requests to the initiators. This involves constructing calls in a specific order, starting with the call that Statemint will execute on the Relay Chain, followed by a message from Statemint, and finally a proposal on the Relay Chain. The process also involves the transfer of DOT from the Treasury to facilitate the operations.
- Expected Outcomes: The successful execution of this proposal will result in the establishment of HRMP channels between Statemint and the five parachains, enhancing the network's interoperability. The cost of the proposal is 100 DOT for 10 channels at 10 DOT each plus 2 DOT for fees.

#62 Onboard USD Coin (Moonbeam Wormhole)

No Active Proposals