Picasso aims to become the DeFi hub of Kusama, connecting parachains with the broader Cosmos ecosystem. Through opening this XCM channel, Karura assets will have access to Picasso dapps, thereby increasing the utility and TVL of aUSD and other Acala tokens.

For example, we will setup pools for aUSD and KAR on Pablo, as well as integrating them within our later released pallets such as CosmWasm. This opens up the possibility to also support these tokens within our IBC bridge that will launch in the future too.

Replaced by https://karura.subsquare.io/democracy/proposal/9 because of weight error.

# Value:
Picasso enables IBC(trustless bridge) assets transfers and transactions. 

# Enacts:
1. Accepts open request channel from Picasso
2. Sends open request to Picasso

# Requires:
11 KSM to be on Parachain 2000(Karura) account

# Detailed flow:
1. Sends XCM message to Kusama
2. Puts 1 KSM into holder from Parachain 2000 account
3. Sets 1 KSM as payment asset
4. Executes batch transaction https://polkadot.js.org/apps/?rpc=wss%3A%2F%2Fkusama-rpc.polkadot.io#/extrinsics/decode/0x1802083c01270800003c0027080000e803000000900100
5. Accepts open channel request from Picasso 2087
6. Sends open channel request to Picasso 2087 with default parameters
7. Remaining fee assets are returned back to Parachain 2000 account 

SubSquare has created a tool called Picasso that allows for trustless bridge asset transfers and transactions. To use Picasso, you need to have 11 KSM on the Parachain 2000 (Karura) account. The process involves sending an XCM message to Kusama, putting 1 KSM into the holder from Parachain 2000 account, setting 1 KSM as payment asset, executing a batch transaction, accepting an open channel request from Picasso 2087, and sending an open channel request to Picasso 2087 with default parameters. Any remaining fee assets are returned back to Parachain 2000 account.

Open HRMP channel with Picasso

Value:

Enacts:

Requires:

Detailed flow: