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

- **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