Register USDT and USDC (Polkadot) on Kusama Asset Hub

2d 18hrs ago
2

We need stablecoins on Kusama. Native USDT on KAH has been deprecated by Tether long ago. decent USD is emerging, but not ready yet (no smooth on-/offboarding yet). Ethereum's USDC.e and USDT.e have been registered by snowbridge ref 514, but on-offboarding means bridging twice, which is unacceptable for us.

I propose to register PAH's native USDT and USDC on KAH. Bridge fees have become somewhat viable, which makes this choice the least evil we currently have.

To accelerate the process, I'll directly propose the calls here:

On KAH:

  1. forceCreate USDT
  2. forceSetMetadata USDT
  3. forceCreate USDC
  4. [forceSetMetadata USDC](https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fassethub-kusama.api.onfinality.io%2Fpublic-ws#/extrinsics/decode/0x35130204090200a10f043205e5144c55534420436f696e2028506f6c6b61646f742910555344430600

Parameters:

  • make sufficient: yes
  • owner FxqimVubBRPqJ8kTwb3wL7G4q645hEkBEnXPyttLsTrFc5Q (verify: same as DOT token owner on KAH)
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@brenzi should the asset owner not be the Polkadot AssetHub sovereign account?

I also noticed the USDT metadata specifies USDt, not USDT.

Edited

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thanks for the review @EA85...5QAG
| I also noticed the USDT metadata specifies USDt, not USDT.
This is how the asset metadata on PAH is registered. I just copied that 1:1. I see no reason to deviate form the source

| should the asset owner not be the Polkadot AssetHub sovereign account?
That makes sense: PAH Sovereign on KAH is FwGjEp7GXJXT9NjH8r4sqdyd8XZVogbxSs3iFakx4wFwJ5Y. I just copied the owner of DOT on KAH but I don't know what that actually is.

updated calls with cousin PAH as owner:

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