Polkadex is proposing to open an XCM communication channel between the Polkadex parachain and Astar Network through the opening of HRMP channels.
We propose to open a bi-directional channel between Astar Network and the Polkadex parachain. Primarily, this channel would allow the back and forth transfers of ASTR and PDEX between the two parachains. The opening of this bidirectional channel and the ability to make XCM transfers between Astar Network and the Polkadex parachain will ultimately result in Astar Network assets like ASTR (and other Astar-native assets) becoming tradeable on Polkadex Orderbook, Polkadex’s non-custodial, order-book-based exchange.
On Polkadex Orderbook, ASTR will first be paired with PDEX. As more channels are open between Polkadex and additional parachains, ASTR could gradually be paired with other DotSama assets; thus creating efficient and liquid trading pairs. This, in turn, will make non-custodial trading of ASTR and other DotSama assets free, easy, and fast.
The procedure for opening the channels is as follows:
- Polkadex creates an Astar Network forum post with a proposal to open a bidirectional HRMP channel between the Polkadex parachain and Astar Network.
- Astar Network’s governance approves the proposal.
- Polkadex proposes to open a HRMP channel from the Polkadex parachain to Astar Network via an on-chain transaction.
- Astar Network approves this call, thereby opening the Polkadex → Astar HRMP channel.
- Astar Network proposes to open an Astar → Polkadex HRMP channel. This may be done at the same time via an Astar MultiSig Governance Batch call.
- Polkadex approves the call from Astar, thereby opening the Astar → Polkadex HRMP channel.
- Wait for another session on Polkadot for the change to be effective.