Register XLM and EURC (Stellar assets via Spacewalk bridge) on Astar Network

Astar Network (Polkadot)
1

TL;DR

This proposal is to register XLM and EURC (Stellar assets via Spacewalk bridge) on Astar Network.

Summary

Following the successful HRMP channel integration between Pendulum and Astar, this post proposes to register the Spacewalk bridged Stellar assets XLM and EURC as XC-20 assets on Astar network. This opens up the following opportunities for the ecosystem:

  • Makes these assets available to the Astar community via leading DEXes in the ecosystem.
  • Enable use cases like single click off ramping, cross currency swaps and Stellar network liquidity via the recently launched Spacewalk bridge.
  • On-board the Stellar community and liquidity to Polkadot’s DeFi opportunities.

Asset details

Token information:

  • Asset name: XLM
  • Asset symbol: xcXLM
  • Asset Multilocation:
    {
    Stellar: StellarNative
    }
    ]
    {
    decimals: 12
    name: Stellar Lumen
    symbol: XLM.s
    existentialDeposit: 1,000
    location: {
    V2: {
    parents: 0
    interior: {
    X2: [
    {
    PalletInstance: 53
    }
    {
    GeneralIndex: 2
    }

Token information:

  • Asset name: xcEURC
  • Asset symbol: xcEURC
  • Asset Multilocation:

{
decimals: 12
name: Stellar EURC
symbol: EURC.s
existentialDeposit: 1,000
location: {
V2: {
parents: 0
interior: {
X4: [
{
PalletInstance: 53
}
{
GeneralIndex: 2
}
{
GeneralKey: EURC
}
{
GeneralKey: 0x2112ee863867e4e219fe254c0918b00bc9ea400775bfc3ab4430971ce505877c
}

3 Likes
2

Hi Pendulum team,

curious if this proposal is the beginning of series of proposals for different assets or these two assets are the only assets to be registered. If there are more assets, then it would be great to make this proposal a bit more general to cover them all to provide better traceability for the community members as well :slight_smile:

Also probably you could provide the Asset Hub ID for them?

3

Hello!

Of course, registering the assets itself is not a problem, but as @pithecus said, it might be easier to put them together.

1 Like
4

Hi @pithecus,
At the moment we only have use cases defined on Astar for these two Stellar assets, while in the future other Stellar assets might also be relevant for the Astar community.
Since the proposal requires the submitter to define the use cases (rightly so), we didn’t want to generally register all assets.

For better traceability, we could reference previous proposal around the topic of asset registration, in subsequent proposals, if that helps.

Since these are Stellar ecosystem assets, bridged to Pendulum (via Spacewalk bridge), these are not Asset Hub issued assets and so therefore don’t have an asset hub ID.

5

@you425 see my response to Pithecus about why we didn’t register all assets in one go, thought that would’ve been easier for us.
Are there any Stellar assets the Astar community wants on the network? At the moment, the Spacewalk bridge allows the bridging of Stellar’s native asset - XLM, and the following stabecoins:

  1. Euro
  2. Australian Dollar
  3. Nigerian Naira
  4. Tanzanian Shilling
  5. Brazillian Real
6

Where can I read about the use cases? Will people be spending EURC in the 'Yoki Originals anime game on Astar? Is there a more detailed proposal somewhere? i’m a bit new to this. Anyways, exciting stuff, please keep building!!

7

I think we can definitely find some usecase where to put all assets in motion!

8
Register XLM and EURC as an XC-20 on Astar Network
  • Yes
  • No
  • Abstain
0 voters
1 Like
9

A fiat ramp at astar doesn’t hurt, I have been following the development of Spacewalk closely and it has been very good in the last few months.

Please Spacewalk if you get this integration in Astar we hope you can push Astar in your ecosystem and social networks, this is a mutual work and if we all contribute our grain of sand we all grow.

1 Like
10

I agree with Matt and others, support it and it would be good to find some usecase in the future!

11

Awresome!!! voted yes.

12

Thank you for the proposal. I voted yes.
After XLM and EURC are registered on the Astar Network, I will be watching to see how they are used.

13

I see, thank you very much.

Currently, most legal tender-based stable coins are dollar-based, so I think the EURC that I will register this time will be sufficient.

14

Hey, Thanks for your proposal. However, I don’t really understand the use case of this proposal and how it will benefit the community. So, i wil abstain. Thank you.

15

I look at this situation in a completely positive way.
We need every development in our DeFi space.
Any cooperation that brings us volume and users is positive.

I support it.

16

I think bringing more assets into DeFi is a nice idea , especially EUR related. Voted Yes :smile:

17

I think it is an excellent opportunity and therefore my vote is positive, I really support the proposal.

18

Voted AYE, let’s connect more!

19

I’m curious about the specific use case with XLM and EURC on Astar Network.
I voted yes to open an HRMP channel. This is why I voted yes for this proposal.

20

Voted Yes. I think there is no reason to vote no on more HRMP Channels.

1 Like