<p>This proposal aims to Accept/Open an HRMP channel with Zeitgeist and register xcZTG.</p>
<p><a href="https://forum.moonbeam.network/t/xcm-disclosure-zeitgeist-network/1198">XCM Disclosure: Zeitgeist Network</a></p>
<h3 id="summary"><strong>Summary</strong></h3>
<p>We propose to open a bi-directional channel between Moonbeam and Zeitgeist and to register Zeitgeist&rsquo;s native currency ZTG as xcZTG. Initially, the main use case will be to transfer ZTG between the two chains to create a trade pair in Stellarswap and offer it to any dApp on Moonbeam that wants to utilize it. Another potential use-case of the channel is to offer prediction markets and the Futarchy governance mechanism in the near future to Moonbeam and any dApp on Moonbeam. Further use cases shall be evaluated over the course of time.</p>
<h3 id="onchainproposalreference"><strong>On-Chain Proposal Reference</strong></h3>
<p>On-Chain Referendum #16 with the associated hash:</p>
<pre><code>0x400041010257c999579fe50beea6f97ef8d07fd930bd7ff086e4d2f5d6d5c8a0bb8d08f1bad50000000164000000
</code></pre>
<h3 id="technicaldetails"><strong>Technical Details</strong></h3>
<p>Zeitgeist already has an open hrmp channel request to Moonbeam on Polkadot:</p>
<pre><code class="json language-json">[
  {
    sender: 2,092
    recipient: 2,004
  }
]
    {
      confirmed: false
      age: 0
      senderDeposit: 100,000,000,000
      maxMessageSize: 102,400
      maxCapacity: 1,000
      maxTotalSize: 102,400
    }
]
</code></pre>
<p>The on-chain proposal on Moonbeam does:</p>
<ol>
<li>Accept Zeitgeist&rsquo;s open hrmp channel request</li>
<li>Request to open a hrmp channel to Zeitgeist</li>
<li>Register xcZTG on Moonbeam</li>
</ol>
<p>xcZTG has the following metadata:</p>
<pre><code class="json language-json">Multilocation: { parents: 1, interior: { X2: [ { Parachain: 2092 }, { GeneralKey: { length: 2, data: "0x0001000000000000000000000000000000000000000000000000000000000000" } ] }}
Decimals: 10
Name: Zeitgeist
Symbol: xcZTG
</code></pre>
<p>and furthermore:</p>
<pre><code>Asset ID: 150,874,409,661,081,770,150,564,009,349,448,205,842
XC-20 address: 0xFFFFFFFF71815AB6142E0E20C7259126C6B40612
</code></pre>
<p>The <code>setAssetUnitsPerSecond</code> was calculated using a token price of $0.03, targeting a XCM transaction cost of 0.02$.</p>
<p>The hex encoded call data for the call executed by the proposal is:</p>
<pre><code>0x1e020c6b09002c080000e803000000900100010301000100e40b5402000000000000000000000002286bee02000400010700863ba101020008006b09012c080000010301000100e40b5402000000000000000000000002286bee02000400010700863ba101020008001e0008690000010200b12006020001000000000000000000000000000000000000000000000000000000000000245a65697467656973741478635a54470a000100000000000000000000000000000001690100010100b12039b8fac8d508000000000000000000001e000000
</code></pre>

This proposal aims to Accept/Open an HRMP channel with Zeitgeist and register xcZTG.

[XCM Disclosure: Zeitgeist Network](https://forum.moonbeam.network/t/xcm-disclosure-zeitgeist-network/1198)

### **Summary**

We propose to open a bi-directional channel between Moonbeam and Zeitgeist and to register Zeitgeist’s native currency ZTG as xcZTG. Initially, the main use case will be to transfer ZTG between the two chains to create a trade pair in Stellarswap and offer it to any dApp on Moonbeam that wants to utilize it. Another potential use-case of the channel is to offer prediction markets and the Futarchy governance mechanism in the near future to Moonbeam and any dApp on Moonbeam. Further use cases shall be evaluated over the course of time.

### **On-Chain Proposal Reference**

On-Chain Referendum #16 with the associated hash:

    0x400041010257c999579fe50beea6f97ef8d07fd930bd7ff086e4d2f5d6d5c8a0bb8d08f1bad50000000164000000
    

### **Technical Details**

Zeitgeist already has an open hrmp channel request to Moonbeam on Polkadot:

    [
      {
        sender: 2,092
        recipient: 2,004
      }
    ]
        {
          confirmed: false
          age: 0
          senderDeposit: 100,000,000,000
          maxMessageSize: 102,400
          maxCapacity: 1,000
          maxTotalSize: 102,400
        }
    ]
    

The on-chain proposal on Moonbeam does:

1.  Accept Zeitgeist’s open hrmp channel request
2.  Request to open a hrmp channel to Zeitgeist
3.  Register xcZTG on Moonbeam

xcZTG has the following metadata:

    Multilocation: { parents: 1, interior: { X2: [ { Parachain: 2092 }, { GeneralKey: { length: 2, data: "0x0001000000000000000000000000000000000000000000000000000000000000" } ] }}
    Decimals: 10
    Name: Zeitgeist
    Symbol: xcZTG
    

and furthermore:

    Asset ID: 150,874,409,661,081,770,150,564,009,349,448,205,842
    XC-20 address: 0xFFFFFFFF71815AB6142E0E20C7259126C6B40612
    

The `setAssetUnitsPerSecond` was calculated using a token price of $0.03, targeting a XCM transaction cost of 0.02$.

The hex encoded call data for the call executed by the proposal is:

    0x1e020c6b09002c080000e803000000900100010301000100e40b5402000000000000000000000002286bee02000400010700863ba101020008006b09012c080000010301000100e40b5402000000000000000000000002286bee02000400010700863ba101020008001e0008690000010200b12006020001000000000000000000000000000000000000000000000000000000000000245a65697467656973741478635a54470a000100000000000000000000000000000001690100010100b12039b8fac8d508000000000000000000001e000000

Send a batch of dispatch calls and atomically execute them.
The whole transaction will rollback and fail if any of the calls failed.

May be called from any origin except `None`.

- `calls`: The calls to be dispatched from the same origin. The number of call must not
  exceed the constant: `batched_calls_limit` (available in constant metadata).

If origin is root then the calls are dispatched without checking origin filter. (This
includes bypassing `frame_system::Config::BaseCallFilter`).

## Complexity
- O(C) where C is the number of calls to be batched.

- This proposal is about opening a channel between Moonbeam and Zeitgeist.
- They want to register Zeitgeist's currency, ZTG, as xcZTG on Moonbeam.
- The channel will be used to transfer ZTG between the two chains and for other purposes in the future.
- There is a technical process involved in accepting the channel request and registering xcZTG.
- They have calculated the transaction cost and have some specific details about the proposal.

#16 Zeitgeist Proposal to Open HRMP Channel & Register Asset xcZTG

No Active Proposals