Open HRMP cross-chain communication channel between Picasso and Statemine

Picasso aims to become the DeFi hub of Kusama, connecting parachains with the broader Cosmos ecosystem. Through opening this XCM channel, Statemine assets will have access to Picasso dapps, thereby increasing the utility and TVL of USDT and other Statemine tokens.

For example, we will setup pools for USDT and KSM on Pablo, as well as integrating them within our later released pallets such as CosmWasm. This opens up the possibility to also support these tokens within our IBC bridge that will launch in the future too.

Flow

• A force transfer 11 KSM from Kusama treasury (F3opxRbN5ZbjJNU511Kj2TLuzFcDq9BGduA9TgiECafpg29) to Statemine (F7fq1jSNVTPfJmaHaXCMtatT1EZefCUsa7rRiQVNR5efcah). 10 KSM used as deposit for channels. 1 KSM for transaction fees payments.

• Send XCM message to Statemine to execute 0x1f000101000214000400000000070010a5d4e81300000000070010a5d4e800060003009435775c1802083c01270800003c0027080000e803000000900100140d01010000000004000101006d6f646c70792f74727372790000000000000000000000000000000000000000

This message does the following:

• Statemine sends message back to Kusama
• Puts 1 KSM into holder from Parachain 1000 account
• Sets 1 KSM as payment asset
• Executes batch transaction 0x1802083c01270800003c0027080000e803000000900100
• Accepts open channel request from Picasso 2087
• Sends open channel request to Picasso 2087 with default parameters
• Remaining fee assets are returned back to Treasury account F3opxRbN5ZbjJNU511Kj2TLuzFcDq9BGduA9TgiECafpg29