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Open an XCM channel with Acala
3mos ago
13 Comments

Summary

Now that staking and governance are live on Interlay, we would like to open an XCM channel with Acala in order to facilitate transfers and further cross-chain developments and DeFi initiatives.

Discussion Point

Any arguments against opening this XCM channel?

We want to quickly open an XCM channel with Acala as this will open many potential applications and use cases, such as liquidity pools, tokens to be considered as collateral or the option for users to transfer their iBTC to Acala to be used there.

We want to understand if the community has any strong argument against this action. If we don't see any strong opposition, we will proceed to open the channel and fast track any needed proposal towards opening this XCM channel.

Author: Alex @Interlay

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3mos ago

good idea, can't wait for it

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3mos ago

very good! my support!

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3mos ago

Obviously, this is to be done

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3mos ago

great!

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3mos ago

I think it's great if everything is working fine... We can't afford a bug because the trust would be lost from the start. We don't need to run fast, we need to do it right...

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3mos ago

IMHO... GLMR ,DOT & later Acala

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3mos ago

Yes I think merge with as many as possible! Why wouldn't we! I reckon you could straight to a vote but appreciate the consultation.

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3mos ago

@wdCP...ikEW Thanks for the comment and yes, we will do a vote. However, these posts were meant the other way actually, to leave space in case the community had strong arguments against opening them. It's kind of hard for someone to explain why not via a vote.

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3mos ago

Perfect for me, ok.

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3mos ago

@wdCc...sfeJ Yes understand and fully appreciate this effort and the thought behind it. I'm always aware of trying to do consultation in the spirit of maximum time saving and ability for people to input. For example, just opening one thread asking "we are considering opening iBTC via XCM channel to all other parachains" than specifically asking if there are issues with this or any parachains in particular. Even there is the possibility of opening short surveys asking what are the top priorities for the community in terms of actions to link other chains. All of these comments are in the spirit of community input and feel free to take them on board or not, that is all fine.

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3mos ago

open for all parachains channel, perfect!

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3mos ago

Sure thing more liquidity is better for everybody.

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3mos ago

Karura experience is not that inspiring, to be honest

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