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 seeks funding for OpenZeppelin's security review of Polkadot's ink! smart contract language and Substrate's smart contracts pallet. The review, conducted between January 23rd and February 17th, identified and addressed security vulnerabilities, ensuring the safety of users. Ink! serves as a crucial component for Polkadot parachains, attracting developers and enabling easy migration to parachain runtimes. OpenZeppelin, a trusted security firm, collaborated closely with Parity Technologies, the ink! team, and other contributors throughout the process. The proposal outlines milestone deliverables and payment conditions, emphasizing transparency and accountability.

- **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.

#24 Register TEER as foreign Asset on Asset Hub

No Active Proposals