I would like to open the discussion to open a bi-directional channel between Shiden Network and Mangata.
This discussion have already been opened in ShidenDao discord and Managata Discord.
Summary
Mangata is a cross-chain native swap and the communication between these two parachains on Kusama would be beneficial to everyone.
It’s why I propose to open a bi-directional channel between Shiden Network and Mangata.
The primary use cases will be:
Transfer Shiden’s native token (SDN) and Shiden’s ecosystem assets to Mangata
Transfer Mangata’s native token (MGX) and Mangata’s ecosystem assets to Shiden
Provide Liquidity with the Shiden’s native token (SDN) in MangataX
Trade Shiden’s native token (SDN) in MangataX
Proposal
This proposal allows to start the discussion. On-chain proposal will be created on OpenSquare.
Technical details
The procedure for opening the channels could be as follows:
Shiden initiates a proposal to open a bidirectional HRMP channel between Mangata and Shiden Network via this forum post and an onchain governance. Wait for the proposal to be approved.
Mangata initiates a proposal to open a bidirectional HRMP channel between Mangata and Shiden Network via their governance system. Wait for the proposal to be approved.
Shiden Network proposes to open a Shiden to Mangata HRMP channel via an on-chain transaction.
Mangata approves a call from Astar, thereby opening the Astar → Mangata HRMP channel.
Mangata proposes to open a HRMP channel from Mangata to Shiden via an on-chain transaction.
Shiden Network approves this call, thereby opening the Mangata → Shiden HRMP channel.
Wait for another session on Polkadot for the change to be effective.
Ensure that the parachain’s sovereign account contains at least 10 KSM to be locked as collateral (5 for each channel direction), plus some KSM to pay for XCM execution fees, as this is a prerequisite.
I fully agree with the proposal. I am a proponent that the more relationships we have with crosschain protocols, the better we will do due to increased liquidity and ease of token transfer with lower probability of loss for users. You have my support, Mate!
Even though I’m not a huge user of Shiden, I think this proposal could attract a lot of interest (including mine). I believe that the opening of these channels can only benefit both Parachains. Count me in I will support this proposal.
Fully support, great to provide with a liquidity pool. As there are different liquidity pools on Mangata, it could possibly bring more flexibility. The team seems also working continously to make their protocol better, which I got impressed.
It’s good that it supports Shiden’s activity. In addition, any programme that supports liquidity is a plus in my opinion. As Parachains, we must be in solidarity. I support this and vote yes.
We are all here in agreement to open HRMP Chanel with our sister Mangata. Now the same decision must be made on Mangata’s side. I invite you to support this discussion in their Discord
I will support this proposal.
