TL:DR
This batched proposal is to Open/Accept an HRMP channel with Pendulum NETWORK and Register Asset xcPEN
Summary
We propose to open a bi-directional channel between Moonbeam and Pendulum and to register Pendulum’s native currency PEN as xcPEN.
Primarily, this strategic move would ensure that native tokens and stablecoins on Pendulum are made available on Moonbeam’s Stellaswap DEX.
Through its integration with Pendulum, it will initially introduce a PEN-DOT liquidity pool. Future plans also include the addition of more liquidity pools between native tokens and stablecoins, including an EURC-USDT pool, enhancing interoperability between both ecosystems. The proposal also includes the Pendulum asset registration as xcPEN.
On-Chain Proposal Reference
0x5073f791cdb9bd4e4b092bea9a4062fa3b592fea419c1c3782fef6c19a2d3ee5
Technical details:
Pendulum already has an open HRMP channel request to Moonbeam on Polkadot, see here.
[
{
sender: 2,094
recipient: 2,004
}
]
{
confirmed: false
age: 0
senderDeposit: 100,000,000,000
maxMessageSize: 102,400
maxCapacity: 1,000
maxTotalSize: 102,400
}
]
The on-chain proposal on Moonbeam does:
- Accept Pendulum’s open HRMP channel request
- Request to open an HRMP channel to Pendulum
- Register xcPEN on Moonbeam
xcPEN has the following metadata:
Multilocation: { parents: 1, interior: { X2: [ { Parachain: 2094 }, { PalletInstance: 10 } ] }}
Decimals: 12
Name: Pendulum
Symbol: xcPEN
and furthermore:
Asset ID: 45647473099451451833602657905356404688
XC-20 address: 0xffffffff2257622f345e1acde0d4f46d7d1d77d0
The setAssetUnitsPerSecond was calculated using a token price of $0.08, targeting a XCM transaction cost of 0.02$. (see here)
The hex-encoded call data for the call executed by the proposal is:
0x1e020c6b09002e080000e803000000900100010301000100e40b5402000000000000000000000002286bee02000400010700863ba101020008006b09012e080000010301000100e40b5402000000000000000000000002286bee02000400010700863ba101020008001e0008690000010200b920040a2050656e64756c756d14786350454e0c000100000000000000000000000000000001690100010200b920040a00087e93371c010000000000000000001f000000
