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.

Tinkernet Proposal to Open Channel & Register xcTNKR

This is a referendumV2 whose proposer address (0xad8a02c8d7e01c72228a027f9ccfbe9d78310ca9) is shown in on-chain info below. Only this user can edit this description and the title. If you own this account, login and tell us more about your proposal.

Problem Statement:
- Opening a bi-directional channel between Moonriver and Tinkernet for TNKR transfer and multichain account services.

Significance:
- Facilitating multichain multisig solutions, enabling DAOs to transact across Kusama, and controlling NFTs on Moonriver.

Proposed Solution:
- Accepting the Tinkernet to Moonriver HRMP channel, registering asset xcTNKR, and enabling XCM-based cross-chain transfers.

Expected Outcomes:
- Enhanced multichain account services, streamlined cross-chain transfers, and improved asset management efficiency.

#53 Tinkernet Proposal to Open Channel & Register xcTNKR