This poposal aims to register the TEER token as foreign asset on the Asset Hub Kusama.

## Why?

- In order to bridge TEER between our Polkadot and Kusama parachains we need TEER on AH as a hop to BridgeHub
- In the future, we expect CEXes to prefer deposits and withdrawals to AH instead of individual parachains due to maintenance effort for custom parachains
- With having TEER on AH, a wider range of wallets, UI's and Dapps is available to interact with TEER



## How?

1. open HRMP channel to Asset Hub (alread [done](<https://kusama.subscan.io/referenda_v2/336>))
2. this proposal registers TEER on Asset Hub by executing two calls on AH via XCM: 1. [register TEER as foreign Asset](<https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fsys.dotters.network%2Fstatemine#/extrinsics/decode/0x35000101007d1f007369626cdf07000000000000000000000000000000000000000000000000000000ca9a3b000000000000000000000000>)
    2. [set metadata of TEER foreign asset](<https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fsys.dotters.network%2Fstatemine#/extrinsics/decode/0x35110101007d1f3c496e7465677269746565205445455210544545520c>)

    

3. In an upcoming runtime upgrade, we will accept Asset Hub as a teleporter and enable teleports of TEER bewteen the two chains

The proposal outlines AngelHack's Polkadot Global Series: Europe Edition, aiming to foster engagement within the Web3 community. It recaps the virtual hackathon and in-person dotSocial event, detailing participant metrics, challenge tracks, and budget breakdown. Notable outcomes include 923 participants, 495 formed teams, and diverse track winners. Insights reveal strong interest in blockchain, desire for better mentorship, and clearer communication. Future improvements include enhanced team formation support, clearer guidelines, and expanded workshop offerings. Despite falling short of some registration targets, the event successfully engaged a diverse group and provided valuable learnings for future hackathons. AngelHack seeks funding for the event's execution, emphasizing its impact on developer outreach and project adoption within the Polkadot ecosystem.

Attract financial institutions to the Polkadot ecosystem.

- **Problem Statement:** Registering the TEER token as a foreign asset on the Asset Hub Kusama to facilitate seamless interaction between Polkadot and Kusama parachains.
- **Significance:** Enhancing accessibility by enabling TEER on Asset Hub can streamline transactions, attract exchanges, and broaden the range of platforms interacting with TEER.
- **Proposed Solution:** Register TEER on Asset Hub through XCM calls and establish compatibility for teleporting TEER between the two chains in an upcoming runtime upgrade.
- **Expected Outcomes:** Improved interoperability, increased usability, and enhanced efficiency in handling TEER transactions across Polkadot and Kusama parachains.

Register TEER as foreign Asset on Asset Hub

No Active Proposals