tl;dr: deposit 2261 DOT into the Polkadot relaychain "Child" accounts of fourteen parachains to make it easier to open XCM channels between chains.
It takes a bit of work to open XCM channels between Polkadot parachains. Besides XCM runtime configuration, the team needs to deposit DOT into the parachain's Child account, or governance needs to sell some of their token for the DOT. Then Chain A passes a referendum to initiate opening one HRMP channel, Chain B accepts and sends a channel open request back. Then Chain A governance accepts the channel back. 10 dot need to be 'bonded' in each direction, so 20 DOT on each side of a bidirectional XCM channel. If dev teams are primarily working on their own chain's use case they might not spend time figuring out the XCM calls to make this happen. It's also important to know that when you bridge (XCM transfer) your DOT from the relaychain to one of the parachains, the DOT tokens don't actually leave the relaychain but instead are held in the sovereign acct, the "Child" acct on the relaychain corresponding to the destination parachain. Therefore for any DeFi chain receiving DOT, its Child acct will already hold plenty of DOT to use for opening XCM channels. But non-DeFi chains won't naturally have this DOT in their Child accounts.
Therefore I'd like to work on submitting lots of parachain governance proposals to open more XCM channels such as:
This should make a lot more parachain tokens more accessible to Polkadot DeFi on Hydration, Bifrost, Moonbeam, Astar, increase the amount of XCM traffic, and remove one technical barrier to further integration and use case development between chains.
I collected initial feedback on X and the results indicate that 72% of the 36 voters thought this would be a good initiative to seed several of the child accounts with some DOT (Option 1 above) to accelerate opening channels. A Subsquare discussion post received more feedback and suggestions, but no blockers against pursuing opening more XCM channels using some treasury funds.
https://x.com/spazvt/status/1819234741343678970
I propose that we target an account balance of 205 DOT for chains that are more niche or smaller market cap or don't have as many imaginable connected use cases vs a target balance of 305 DOT in the Child accts of 'larger' parachains. In the table below Gap
is the amount of DOT that I propose sending to each child account in order to reach the Target
balance.
Chain | Parachain ID | DOT in acct | Target | Gap |
---|---|---|---|---|
Centrifuge | 2031 | 141 | 305 | 164 |
Crust | 2008 | 95 | 205 | 110 |
Darwinia | 2046 | 199 | 255 | 56 |
EnergyWebX | 3345 | 0 | 205 | 205 |
Frequency | 2091 | 0 | 205 | 205 |
InvArch | 3340 | 22 | 205 | 183 |
Kilt | 2086 | 25 | 205 | 180 |
Mythical | 3369 | 24 | 305 | 281 |
Neuroweb (OT) | 2043 | 49 | 205 | 156 |
Peaq | 3338 | 25 | 205 | 180 |
Phala | 2035 | 249 | 305 | 56 |
Polimec | 3344 | 67 | 205 | 138 |
Robonomics | 3388 | 0 | 205 | 205 |
Subsocial | 2101 | 63 | 205 | 142 |
This totals 2261 DOT which would be sent from the Polkadot treasury to parachain accounts.
While opening new XCM channels via parachain governance, I'll also register tokens on chains that have the assetRegistry
pallet. After I successfully open at least 50 XCM channels, I plan to submit a tip request for around $3000, paid in DOT.
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