GM, we are looking to propose the following referendum on the root track. We are aware that there will be a stablecoin DCA posted on the root track shortly; as such, we have decided to post this here for discussion prior to posting it on the root track.

Summary

This referendum proposes the following changes:

Snowbridge-wrapped USDC:

• Set as sufficient asset
• Set existential deposit to $0.01 (MinBalance: 10 000)
• Set metadata:
  • Name: USDC (Snowbridge)
  • Symbol: USDC
• Decimals: 6 (it is currently 6, this just adds that to the metadata)

Snowbridge-wrapped USDT:

• Set as sufficient asset
• Set existential deposit to $0.01 (MinBalance: 10 000)
• Set metadata:
  • Name: Tether USD (Snowbridge)
  • Symbol: USDT
• Decimals: 6 (it is currently 6, this just adds that to the metadata)

It is worth mentioning that we believe a lot of the Polkadot DAO think the only sufficient assets on Polkadot Asset Hub are DOT, USDC (Native), and USDT (Native), but there are some additional ones, including:

• ETH (Snowbridge)
• WETH (Snowbridge)
• KSM (P<>K Bridge)

This referendum basically adds to that list, we believe that it is beneficial to make obviously valuable (ETH/WETH for example) or stable assets (stables from Ethereum) sufficient. It is also entirely possible to remove sufficiency from an asset in the future.

View the full context:

https://docs.google.com/document/d/e/2PACX-1vRbLwGg2PW-uxyO4PLNrm350HDteBMTc7X3_vy_hYkJdLu2BJSnohh83nJiQvU3rRTGpD0xNqRX9EWG/pub

Cheers,

Leemo, N4DRO, lolmcshizz and Crane