This referendum opens the XCM channel to Parallel. This will allow assets to be transferred in between Interlay and Parallel and open a path towards more use cases for iBTC.
This is the first part of two referenda to open bi-directional communication with Parallel. The second referendum will accept the open channel to Interlay.
Note: Parallel needs to pass a referendum as well to accept this open channel.
Since we want to proceed as quickly as possible with opening the channel so we can move the discussion to actual use cases for both communities, we request that this proposal be fast-tracked.