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RFC: New instruction for the reservation of asset classes/IDs #35

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93bcae2
create asset instruction draft
vstam1 Jun 9, 2023
796cbf2
move proposal to right place
vstam1 Jun 9, 2023
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vstam1 Jun 9, 2023
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add some more info
vstam1 Jun 12, 2023
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more info and example
vstam1 Jun 12, 2023
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change to InitializeAsset instruction
vstam1 Jun 21, 2023
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46 changes: 46 additions & 0 deletions proposals/0000-create-asset-instruction.md
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---
Title: CreateAsset Instruction
Number: 0
Status: Draft
Version: 0
Authors:
- vstam1
Created: 2023-06-09
Impact: Low
Requires:
Replaces:
---

## Summary

The proposed change is to introduce a new Instruction called `CreateAsset`. The instruction allows foreign chains to create fully-backed derivatives. Currently these derivatives are created using the `Transact` instruction, or directly on the sovereign chain.


## Motivation

Currently the `Transact` instruction is used to create derivatives. The `Transact` instruction requires knowledge of the foreign system to determine which call to make. The call can differ per system, and in FRAME-based systems can depend on different instances of a pallet. The CreateAsset instruction abstracts the need to know this call away. Sending consensus systems can send this instruction to any chain without having to know the structure of the destination chain.

## Specification

The instruction would have the following specification:

```rust
CreateAsset {asset: MultiAsset, owner: MultiLocation}
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@gavofyork gavofyork Jun 16, 2023 •
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I would instead call this AcquireAssetId, since:

a) you're not actually creating any assets; and
b) you're appointing a controller for the given asset class/ID.

Alternatives are:

  • OccupyAssetId
  • SeizeAssetId
  • TakeAssetId
  • AppointAssetIdAdmin
  • ProcureAssetId
  • ObtainAssetId

My favourites are ReserveAssetId and HoldAssetId, however these clash with pre-existing terminology.

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@franciscoaguirre franciscoaguirre Jun 16, 2023

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What about CreateAssetId or CreateAssetType or CreateAssetClass?

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@gavofyork gavofyork Jun 18, 2023 •
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I don't think you're really creating anything so much as priming some namespace which is already yours to do so by virtue of the origin.

Perhaps InitializeAsset or SetupAsset..

```

The `CreateAsset` instruction allows for the creation of a single asset. This can be a fungible or non fungible asset.

## Security considerations


## Impact
The impact of this proposal is Low. It introduces a new instruction, so XCVM implementations have to be updated.

## Alternatives
As previously discussed, it is possible to create assets using the `Transact` instruction.

## Questions and open Discussions (optional)

- Currently the instruction allows for the creation of a single asset. Should the instruction allow for the creation of multiple assets?

- How should we handle metadata?
46 changes: 46 additions & 0 deletions proposed-rfc/0000-create-asset-instruction.md
View file
Open in desktop
Original file line number Diff line number Diff line change
@@ -0,0 +1,46 @@
---
Title: CreateAsset Instruction
Number: 0
Status: Draft
Version: 0
Authors:
- vstam1
Created: 2023-06-09
Impact: Low
Requires:
Replaces:
---

## Summary

The proposed change is to introduce a new Instruction called `CreateAsset`. The instruction allows foreign chains to create fully-backed derivatives. Currently these derivatives are created using the `Transact` instruction, or directly on the sovereign chain.


## Motivation

Currently the `Transact` instruction is used to create derivatives. The `Transact` instruction requires knowledge of the foreign system to determine which call to make. The call can differ per system, and in FRAME-based systems can depend on different instances of a pallet. The CreateAsset instruction abstracts the need to know this call away. Sending consensus systems can send this instruction to any chain without having to know the structure of the destination chain.

## Specification

The instruction would have the following specification:

```rust
CreateAsset {asset: MultiAsset, owner: MultiLocation}
```

The `CreateAsset` instruction allows for the creation of a single asset. This can be a fungible or non fungible asset.

## Security considerations


## Impact
The impact of this proposal is Low. It introduces a new instruction, so XCVM implementations have to be updated.

## Alternatives
As previously discussed, it is possible to create assets using the `Transact` instruction.

## Questions and open Discussions (optional)

- Currently the instruction allows for the creation of a single asset. Should the instruction allow for the creation of multiple assets?

- How should we handle metadata?