Enacting this proposal will register the asset { parents: 2, interior: GlobalConsensus(Kusama) } on the Polkadot Asset Hub. KSM will be a sufficient asset with a minimum balance of 0.01 KSM.

The "owner" of the asset is the account ID conversion of the path (expressed as a Multilocation) to the Kusama Relay Chain, i.e. the governance location of Kusama.

This registration by governance is part of the initialization of a Polkadot <> Kusama bridge. Future assets that are sent over the bridge will not need governance motions from the system Root origin. There is a [similar referendum](https://kusama.subsquare.io/referenda/referendum/258) to register DOT on Kusama.

A note about metadata: I discovered while testing that `force_set_metadata` is not included in the `SafeCallFilter`, so it cannot be executed over XCM. This will be fixed in [this PR](https://github.com/paritytech/cumulus/pull/3044). A follow up referendum can set the metadata (name: Kusama, symbol: KSM), however this is not necessary for functionality (and the asset identifier itself is expressive of the asset meaning).

- **Problem Statement:** Registering the asset { parents: 2, interior: GlobalConsensus(Kusama) } on the Polkadot Asset Hub for governance on the Kusama Relay Chain.
- **Significance:** Establishing this asset registration is crucial for initializing a Polkadot Kusama bridge, streamlining future asset transfers without requiring additional governance motions.
- **Proposed Solution:** Enact a proposal to register the asset on the Polkadot Asset Hub, with a minimum balance of 0.01 KSM.
- **Expected Outcomes:** Simplified asset transfers over the bridge, reducing the need for system Root origin governance motions.

#122 [Whitelisted Caller] Referendum #122: Register KSM on Asset Hub

No Active Proposals