Proposal to Register Asset xcUSDC

Forum Post

TL:DR

This proposal is to Register xcUSDC as an XC-20

Summary

We propose to register Statemint USDC token as xcUSDC, with the following details:

• Multilocation: { "parents": 1, "interior": {"X3": [ { "Parachain": 1000 }, {"PalletInstance": 50}, { "GeneralIndex": 1337 }]}}
• Decimals: 6
• Name: USD Coin
• Symbol: xcUSDC

xcUSDC will have the following asset ID and XC-20 address:

• Asset ID: 166377000701797186346254371275954761085
• XC-20 address: 0xFFfffffF7D2B0B761Af01Ca8e25242976ac0aD7D

On-Chain Proposal Reference

On-Chain Referenda #15 with the associated hash: 0x1071b8c3a284064e9e8ac271d9c5aafceb1086294a02dca4dd7c31a78419bc8d

Technical details:

This proposal just registers USD Coin as xcUSDC, as HRMP channels were already stablished.

The asset will be registered with the metadata described in the summary. The setAssetUnitsPerSecond was calculated using the value for a $1 USDC value, targeting a XCM transaction cost of 0.02$.

If you are interested, the hex-encoded call data for this proposal in Moonbeam is:

0x1e0008690000010300a10f043205e5142055534420436f696e1878635553444306000100000000000000000000000000000001690100010300a10f043205e514cea9bc010000000000000000000000001b000000