#77 Accept HRMP Channel from Bifrost to Moonriver
TL:DR
Similar to other HRPM channel proposals, we propose to Accept the HRMP channel between Bifrost (Kusama) and Moonriver.
Summary
We propose to accept the HRMP channel from Bifrost to Moonriver. Initially, the main use case will be to transfer BNC from Bifrost to Moonriver, but it can be further expanded to other use cases. Due to current high block production times, the proposal has been fast-tracked.
Proposal
Referenda #77 with the following hash: 0xb9a83527d40a4d28321346eb73e9ad5431d3cc82d7330a12fab098324f750f96
Technical details:
To accept the HRMP channel, we need to execute the acceptance in Kusama. The related extrinsics are: hrmp.hrmpAcceptOpenChannel(sender: 2001), which its hex-encoded call data is 0x3c01d1070000.
The proposedMaxCapacity and proposedMaxMessageSize are set to the values of Kusama’s configuration.activeConfig.hrmpChannelMaxCapacity and configuration.activeConfig.hrmpChannelMaxMessageSize values, respectively.
The extrinsic need to be called from the parachain’s sovereign account as origin, via a democracy proposal. The proposal will use polkadotXcm pallet to send XCM message to the Relay Chain with the following items:
- Withdraw asset: take funds out of the Sovereign Account of the origin parachain (in the relay chain) to a holding state
- Buy execution: buys execution time from the relay chain, to execute the XCM message
- Transact: provides the call data to be executed
- Deposit asset (optional): refunds the leftover funds after the execution. If this is not provided, no refunds will be carried out
If you are interested, the hex-encoded call data for both the hrmpAcceptOpenChannel Moonriver is:
Accept Channel: 0x67000101000210000400000000070010a5d4e81300000000070010a5d4e8010700f2052a01060002286bee183c01d10700000d0100040001010070617261e7070000000000000000000000000000000000000000000000000000
As a prerequisite, the parachain’s sovereign account must contain at least ~5 KSM to be locked as collateral (for each channel direction), plus some KSM to pay for XCM execution fees.
Show More
Overall 76 % of users are feeling optimistic. The Kusama ecosystem is set to benefit from a new referendum aimed at improving asset acquisition through on-ramp services, making it more accessible and inclusive for parachains. The proposal has received widespread support, with many expressing excitement about its potential impact on the network's flexibility and user onboarding experience.
Overall 23 % of users are feeling neutral. The Bounty Curator Candidacy Announcement presents candidates for a curator position overseeing the Parachain Assets Onramp Support Bounty Program, with a multisig account and suggested rewards for committee members. The selection process ensures representation of all parties involved in this bounty program.
AI-generated from comments
Dear Zhixi,
we are excited to share the support for this referendum. The proposal aims to improve the Kusama ecosystem by making asset acquisition more accessible for parachains through robust on-ramp services. This is a crucial step towards a more inclusive and robust network, and I believe this initiative deserves an AYE from the crowd. It will definitely benefit parachains and thus the Kusama network itself!
Thank you so much for this initiative 🙏
This is a big win for the entire ecosystem and we need it to make life easier when onboarding new people to the ecosystem.
Especially for some Parachain tokens it's been extremely hard to get hands-on.
Looking forward to good things.
Hi Zhizi, thank you for leading the initiative!
This is Ryan from SubWallet. I fully support this initiative and am committed to contributing to it. I find it admirable that we are working together to onboard more users to the ecosystem.
Cant thank you enough for taking the initiative here and pushing this forward. From Ajuna Networks perspective, fiat onramps are ciritical to support onboarding for the application layer. Especially in more casual experiences, like gaming, being able to provide familiar payment options can reduce the initial friction for non web3 natives.
You have our support and vote
That's what I am talking about!! Finally something useful for our ecosystem. Strong Aye.
Hey, Zhixi,
Thank you for the proposal.
Here's the first referendum audit for this bounty proposal.
Notes
- This audit was not influenced by previous audits.
- This audit reflects only the quality of information presented in the proposal and not the Quality of the project/idea itself.
The following proposal Audit is created as a part of the extension for Proposal#67. More information about the Treasury proposal template and the Audit process can be found on the link above. All templates are free for everyone to use. For any questions or feedback regarding the Audit templates use the discussion link from above.
Great job! I also voted Aye for this as I'm in support of a fiat on-ramp for the ecosystem as it will help big time for flexibility!
I voted Aye. I think we need make easly for users the way them get Kusama and parachains assets with Fiat.
Bounty Curator Candidacy Announcement
The selection of administrative curators is crucial for the success of the bounty program. This announcement presents the candidates for the curator position who, upon approval, will oversee the "Parachain Assets Onramp Support" Bounty Program. The bounty will be curated by a Multisig. It is suggested that the curator committee receives a reward to compensate for their time and effort in this initiative.
The selection of curators is carefully designed to represent all parties involved in this bounty. For more context, please visit the Bounty Curator Candidacy Proposal, which provides information on the curators' backgrounds, responsibilities, and the reward scheme.
Multi-sig account: Fc2PupM7xp2yefw97D3yDhEWMXcWPWkYUdpTSf8Gj8St1B7
Curator Candidacy:
Alexei Zamyatin, Co-founder of Interlay
Address: 5Cu7pF9kxM3HiP69RNA5b1N2ogpgoRYEtvHrjkQDF3P7iofS
Jonathan Dunne, CTO of Talisman Address: 5FxvpoBxF73oAbQKouuhtbXootQceqq9hE8UvJPFf8Tjzcu7
Ryan Dinh - Head of Business Development of SubWallet
Address: 5DvpfEPfr8xBA34VusHM8h4q5XdBi2vbpdcA7s2rEmtuAze4
Irvin Cardenas: Co-founder and CEO at OpenDive Technologies
Address: Gpr3ou8w6PgQxCeeEz3Ap3iuamKQn1ktgZjbNNZB4ghzKUU
Jakub Greguš, Jakub Gregus, Co-founder of HydraDX & Basilisk
Address: 14TRztENRz87sn67Gh4aVaCpiWmtiuxg4JkNKVGkvRqwDbgD
I fully support this project and its mission.
Hi Kusama Community,
We have released the first batch of assets following tokens part of the proposal!
- Bajun (BAJU)
- Bifrost Native Coin (BNC)
- KINT (Kintsugi)
Users will be able to purchase these coins on banxa.com and Talisman Wallet. More wallet integrations to come soon.
We will raise the next bounty for the curators to approve.
Thanks!
BANXA
Hello,
We are in the process of validating a true need for a service to assist teams with crafting and completing successful treasury proposals, so they can focus on building. We would love to hear about your experience with this proposal. If you are willing to take a few minutes, please fill out this form about your experience with the OpenGov treasury proposal process: https://forms.gle/MwDij4adXEQd7Um79
Feel free to leave out any details that your team is not comfortable with sharing, but the more info you can provide, the better we will be able to assess the potential need for our services.
For more info, follow us on Twitter/X: https://twitter.com/OpenGovAssist
Discover similar proposals
