TL;DR
This batched proposal is to Accept/Open an HRMP channel with Moonriver and Register Asset xcTNKR
Summary
We propose to open a bi-directional channel between Moonriver and Tinkernet to support the transfer of TNKR to Moonriver & realize the following multichain account services:
- Provide a multichain multisig solution for Moonriver that maintains a single multisig account for all chains across the Kusama ecosystem.
- Enable DAOs to operate & transact across the Kusama ecosystem, including Moonriver, as first-class citizens using a single master account.
- Enable NFTs on Moonriver to control multichain DAO accounts on Tinkernet.
The proposal also includes the TNKR asset registration as xcTNKR, with the following details:
Multilocation: 1. {“parents”:1,“interior”:{“x2”:[{“parachain”:2125},{“generalIndex”:0}]}}
Decimals: 12
Name: Tinkernet
Symbol: xcTNKR
xcTNKR will have the following asset ID and XC-20 address:
Asset ID: 138512078356357941985706694377215053953
XC-20 address: 0xffffffff683474b842852111cc31d470bd8f5081
On-Chain Proposal Reference
On-Chain Proposal #53 with the associated hash: * 0xda0544dbd7c5c0ba5090b7025aacf482094536120b448792beb19b4a567fc388
Technical details:
The procedure for opening the channels is as follows:
- The InvArch team sends channel requests from Tinkernet to Moonriver via OpenGov referendum. (Already sent)
- Moonriver proposes to accept the Tinkernet to Moonriver HRMP channel and open a Moonriver to Tinkernet HRMP channel via this proposal [Moonriver Governance Batch call] and add xcTNKR to the Moonriver asset registry.
- Wait until the proposal gets approved & enacted.
- Tinkernet accepts the Moonriver to Picasso HRMP channel.
- Wait for another session on Kusama for the change to be effective.
- XCM-based cross-chain transfers will be possible at this stage.
The extrinsics that need to be sent with xcm messages so they can be executed on the relay chain are as follows for step 2:
- xcmTransactor.HrmpManage.Accept(sender: 2125) , the call hex-encoded is 0x670003010003140004000000000700e876481713000000000700e876481700060002286bee02000400183c014d080000140d0102040001010070617261e7070000000000000000000000000000000000000000000000000000
- xcmTransactor.HrmpManage.InitOpen(recipient: 2125, proposedMaxCapacity: 1000, proposedMaxMessageSize: 102400) , which hex-encoded is 0x670003010003140004000000000700e876481713000000000700e876481700060002286bee02000400383c004d080000e803000000900100140d0102040001010070617261e7070000000000000000000000000000000000000000000000000000
The asset will be registered with the metadata described in the summary. The setAssetUnitsPerSecond was calculated using the value for TNKR, $0.11 on March 3rd, 2024, targeting an XCM transaction cost of $0.02.
yarn calculate-units-per-second --d 12 --p 0.11 --xwc 800000000
Token Price is $0.11
The UnitsPerSecond needs to be set 227272727272727
NOTE: Ensure that the parachain’s sovereign account contains at least 20 KSM to be locked as collateral (10 for each channel direction), plus some KSM to pay for XCM execution fees, as this is a prerequisite.