## TL:DR

The following proposal registers USDT from Statemint as xcUSDT on Moonbeam.

## Summary

We propose to register USDT from Statemint as xcUSDT on Moonbeam. The XC-20 has the following details:

 - Multilocation: *{ "parents": 1, "interior": {"X3": [ { "Parachain": 1000}, {“PalletInstance”: 50},{ "GeneralIndex": 1984 }]}}*
 - Decimals: *6*
 - Name: *Tether USD*
 - Symbol: *xcUSDT* 

The official Asset ID from Statemint was extracted from [Tether’s official website](https://tether.to/en/supported-protocols/) for Kusama, and confirmed the ID on Statemint.

The proposed fee to execute the XCM was calculated using the current USDT to USD price ratio (~ 1$).

## Proposal

Referendum #55 with the following hash: *0xb9558d40d3dd8a0185a971465491c37dad4c30302fabf4bd0a726af61ac3a834*

## Technical details:

The procedure to register an asset on Moonbeam is as follows:
 - *assetManager.registerForeignAsset* to register the asset with the information provided in the summary
 - *assetManager.setAssetUnitsPerSecond* to set the asset units per second (XCM execution fees)
 - *system.setStorage* to store a revert code in the asset's storage. This is so that smart contracts can interact with the XC-20 (through the EVM)

Once the proposal is enacted, *xcUSDT* will live under asset ID *133057993812922544048267207069832508503*. 

Consequently, the XC-20 address would be *0xFFFFffFf641a099723723c870F7368C47f96F457* 

If you are interested, the hex-encoded call data of the proposal on [Moonbeam](https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fwss.api.moonbeam.network#/extrinsics/decode) is:

**batchAll:**

0x1e020c690000010300a10f043205011f28546574686572205553441878635553445406000100000000000000000000000000000001690100010300a10f043205011ff03353010000000000000000000000000700000000050411011da53b775b270400e7e61ed5cbc5a146ea70f53d5a3306ce02aaf97049cf181a742d8b839f25a373599006610b2dbb60ffffffffea09fb06d082fd1275cd48b191cbcd1d181460006000fd

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.

- `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 call are dispatch without checking origin filter. (This includes
bypassing `frame_system::Config::BaseCallFilter`).

# <weight>
- Complexity: O(C) where C is the number of calls to be batched.
# </weight>

- They want to register USDT as xcUSDT on Moonbeam.
- They have some details about the XC-20.
- They got the official Asset ID from Tether's website.
- They calculated the fee for the proposal.
- They explained the technical details of the procedure.

#55 Register USDT from Statemint as xcUSDT on Moonbeam

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