Turing Network XCM Disclosures
TL:DR
This batched proposal is to Accept/Open an HRMP channel with Turing Network and Register Asset(s) xcTUR
Summary
We propose to open a bi-directional channel between Moonbeam and Turing Network. The main use cases are to automate EVM smart contract execution on Moonriver via Turing Network’s on-chain automation feature, as well as transfer GLMR and TUR between the two chains. The proposal also includes the TUR asset registration as xcTUR, with the following details:
- Multilocation: {“parents”:1,“interior”:{“x1”:{“parachain”:2114}}}
- Decimals: 10
- Name: Turing Network Token
- Symbol: xcTUR
xcTUR will have the following asset ID and XC-20 address:
- Asset ID: 133300872918374599700079037156071917454
- XC-20 address: 0xffffffff6448d0746f2a66342b67ef9caf89478e
On-Chain Proposal Reference
On-Chain Proposal #[__] with the associated hash: _____________ (calldata to be submitted after Moonbeam’s review)
[Note: you can get the Proposal Number and Associated Hash from Polkadot.js Apps either in Moonbeam/(Moonriver)[Polkadot/Substrate Portal]]
Technical details:
The procedure for opening the channels is as follows:
- Turing Network: already proposed to open an HRMP channel to Moonriver
- Moonriver: democracy batched proposal:
- Accept HRMP channel from Turing Network to Moonriver
- Open Moonriver to Turing Network HRMP channel
- Register xcTUR asset as an XC-20
- Turing Network: democracy proposal to accept HRMP channel request from Moonriver
Once the HRMP channels are ready, XCM based cross-chain transfer will be possible. The extrinsics that need to be executed on the relay chain, are:
-
To accept the HRMP channel to Moonriver: hrmp.hrmpAcceptOpenChannel(sender: 2114) , which hex-encoded call data is 0x6b090142080000010301000100e8764817000000000000000000000002286bee02000400010700f2052a0102000800
(FeeAmount: 100000000000, XCM Version: V3, hrmpChannelMaxCapacity: 1000, hrmpChannelMaxMessageSize: 102400) -
To open the HRMP channel from Moonriver: hrmp.hrmpInitOpenChannel(recipient: [parachainId], proposedMaxCapacity: 1000, proposedMaxMessageSize: 102400), which its hex-encoded call data is 0x6b090042080000e803000000900100010301000100e8764817000000000000000000000002286bee02000400010700f2052a0102000800
(FeeAmount: 100000000000, XCM Version: V3, hrmpChannelMaxCapacity: 1000, hrmpChannelMaxMessageSize: 102400)
The asset will be registered with the metadata described in the summary. The setAssetUnitsPerSecond was calculated using the value for TUR value, $0.005 on Jun 9th 2023, targeting a XCM transaction cost of $0.02.
yarn calculate-units-per-second --d 10 --p 0.005 --xwc 800000000
Token Price is $0.005
The UnitsPerSecond needs to be set 50000000000000
If you are interested, the hex-encoded call data for this proposal in Moonbeam/Moonriver is:
0x1e020c6b090042080000e803000000900100010301000100e8764817000000000000000000000002286bee02000400010700f2052a01020008006b090142080000010301000100e8764817000000000000000000000002286bee02000400010700f2052a01020008001e0008690000010100092150547572696e67204e6574776f726b20546f6b656e1478635455520a000100000000000000000000000000000001690100010100092100203d88792d000000000000000000001c000000
As a prerequisite, the parachain’s sovereign account, F7fq1is7XWry4tWaYVZJ2uSwytCLFhsuEFarS7hit1chXtq, must contain at least 20 DOT/KSM to be locked as collateral (10 for each channel direction), plus some DOT/KSM to pay for XCM execution fees.
The wallet F7fq1is7XWry4tWaYVZJ2uSwytCLFhsuEFarS7hit1chXtq currently has 33.35 transferable KSM.
