**Update: Recommend rejecting this proposal. I will make a new one to go with the Asset Hub upgrade that actually updates the Existential Deposit. See [this PR](https://github.com/polkadot-fellows/runtimes/pull/158) for more details.**

This referendum is related to the reduction of existential deposit on Asset Hubs.

When you pay fees in `sufficient` assets, the system still calculates the base transaction fee in DOT. It converts it to the asset fee amount using the ratio of minimum balances. So:

```
fee_in_dot * asset_min_balance / dot_existential_deposit
```

So, if you reduce the DOT ED by a factor of 10, you also increase fees in sufficient assets by a factor of 10 (Asset Conversion, coming soon, to avoid all this).

This proposal reduces the minimum balance requirement for all sufficient assets (USDT, USDC, and KSM) by a factor of 10, preserving the ratio. There is also a fourth call to update the metadata for bridged KSM, since that [failed when creating the asset](<122>) due to the `SafeCallFilter`.



This referendum is related to the reduction of existential deposit on Asset Hubs.

When you pay fees in `sufficient` assets, the system still calculates the base transaction fee in DOT. It converts it to the asset fee amount using the ratio of minimum balances. So:

```
fee_in_dot * asset_min_balance / dot_existential_deposit
```

So, if you reduce the DOT ED by a factor of 10, you also increase fees in sufficient assets by a factor of 10 (Asset Conversion, coming soon, to avoid all this).

This proposal reduces the minimum balance requirement for all sufficient assets (USDT, USDC, and KSM) by a factor of 10, preserving the ratio. There is also a fourth call to update the metadata for bridged KSM, since that [failed when creating the asset](https://polkadot.polkassembly.io/referenda/122) due to the `SafeCallFilter`.

Update Sufficient Asset Minimum Balances

See [`Pallet::dispatch_whitelisted_call_with_preimage`].

**Problem Statement:**
- The problem is that the current system calculates base transaction fees in DOT, even when fees are paid in other assets, resulting in increased fees for sufficient assets.

**Significance:**
- This proposal is significant because it aims to reduce the minimum balance requirement for sufficient assets by a factor of 10, preserving the ratio and reducing fees for users.

**Proposed Solution:**
- The proposal includes reducing the minimum balance requirement for USDT, USDC, and KSM by a factor of 10, and updating the metadata for bridged KSM.

**Expected Outcomes:**
- The expected outcome is a reduction in fees for users paying in sufficient assets, improving the user experience and making transactions more cost-effective.

#428 Update Sufficient Asset Minimum Balances