Set Asset rate for DOT/KSM to enable treasury spends of DOT through Kusama OpenGov

Thanks to the Polkadot ecosystem's Interoperability and cross-consensus messaging through the Polkadot <> Kusama trustless bridge, DOT can be accessed directly on Kusama. When creating this post, there are around 4900+ DOT on Kusama. You can query the chain state to get the accurate number.

It is possible to send DOT to Kusama Treasury and access it through Kusama OpenGov. For the treasury tracks on Kusama to work as expected, a proper spend limits in terms of DOT need to be set. For this purpose, the asset rate parameter is used. For instance, DOT/USDC/USDT conversion rates were set on Polkadot through referendum 645, which allowed for Polkadot OpenGov to spend USDT/USDC directly through its treasury tracks.
DOT on Kusama
It is worth noting that the current asset rate for DOT/USDC and DOT/USDT on Polkadot is 1 DOT = 10 USDC/T. This should not be confused as the actual exchange rate of the assets. Instead, the asset rate just applies this factor to adhere to spend limits. This rate can be adjusted through governance if the actual rate diverges too much.

In that light, the asset rate of 1 KSM = 4 DOT is reasonable to set, which translates to an asset rate of 25. We understand it is a bit counter intuitive. Please check the explanation below which converts assets into the smallest units (plancks) represnted on-chain:

1 KSM = 1000,000,000,000 (hence KSM token has 12 decimals)
1 DOT = 10,000,000,000 (hence DOT token has 10 decimals)
4 DOT = 40,000,000,000 when multiplied by 25 results in 1000,000,000,000 units which are interpreted as 1 KSM by Kusama OpenGov treasury tracks

This referendums sets asset rate for both XCM V3 and V4 locations for DOT through a batch call

Edited

DOT can be used on Kusama through a special bridge.
Around 4900 DOT are on Kusama right now.
DOT can be sent to Kusama’s Treasury for spending.
A rate is set to control how much DOT can be spent (1 DOT = 10 USDC/USDT).
Kusama uses a rate of 1 KSM = 4 DOT for spending limits.
DOT and KSM have different decimal places (DOT: 10, KSM: 12).
This rate helps Kusama’s treasury understand DOT amounts correctly.
The rate is set by a governance vote.

Source

Thanks to the Polkadot ecosystem's Interoperability and cross-consensus messaging through the Polkadot <> Kusama trustless bridge, DOT can be accessed directly on Kusama. When creating this post, there are around 4900+ DOT on Kusama. You can query the chain state to get the accurate number.

It is possible to send DOT to Kusama Treasury and access it through Kusama OpenGov. For the treasury tracks on Kusama to work as expected, a proper spend limits in terms of DOT need to be set. For this purpose, the asset rate parameter is used. For instance, DOT/USDC/USDT conversion rates were set on Polkadot through referendum 645, which allowed for Polkadot OpenGov to spend USDT/USDC directly through its treasury tracks.
DOT on Kusama
It is worth noting that the current asset rate for DOT/USDC and DOT/USDT on Polkadot is 1 DOT = 10 USDC/T. This should not be confused as the actual exchange rate of the assets. Instead, the asset rate just applies this factor to adhere to spend limits. This rate can be adjusted through governance if the actual rate diverges too much.

In that light, the asset rate of 1 KSM = 4 DOT is reasonable to set, which translates to an asset rate of 25. We understand it is a bit counter intuitive. Please check the explanation below which converts assets into the smallest units (plancks) represnted on-chain:

1 KSM = 1000,000,000,000 (hence KSM token has 12 decimals)
1 DOT = 10,000,000,000 (hence DOT token has 10 decimals)
4 DOT = 40,000,000,000 when multiplied by 25 results in 1000,000,000,000 units which are interpreted as 1 KSM by Kusama OpenGov treasury tracks

This referendums sets asset rate for both XCM V3 and V4 locations for DOT through a batch call

Edited