Polkassembly - Referendum #1400

Snowbridge: Register Ether Asset and Lower Bridge Fees

inWhitelisted Caller

2 years ago

Executed

Lowers the cost of bridge transfers from Polkadot to Ethereum from ~6.12 DOT to ~1.49 DOT.
Register the Ether asset on Asset Hub in preparation for the Support Native Ether feature ahead of fellowship runtime release v1.4.0.
Ether is made sufficient and the minimum balance is 15000 Gwei.
Ether metadata: Name = Ether, Symbol = ETH, Decimals = 18.

For detail into what the proposal does, how it was created and tested, please read: https://github.com/polkadot-fellows/runtimes/issues/560

Comments (5)

2 years ago

Dear Proposer,

Thank you for your proposal. Our first vote on this proposal is AYE.

The Whitelisted Caller track requires 60% quorum according to our voting policy. This proposal has received nine aye and zero nay votes from ten members. Below is a summary of our members' comments:

A majority of voters expressed support for lowering bridging fees and adding native ETH to the Polkadot ecosystem. They considered these changes reasonable and beneficial, highlighting the expected launch of Plaza and the importance of efficiency in attracting users. Many voters agreed that reducing costs and enhancing features would positively impact engagement and accessibility within the platform. Overall, the comments reflected a consensus that these measures would strengthen the ecosystem and facilitate a more trust-less environment.

The full discussion can be found in our internal voting.

Kind regards,
Permanence DAO

2 years ago

Helixstreet is delighted to offer its full support, including delegated votes, to this proposal with an emphatic "Aye!

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Proposal Passed