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.
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