The Product Marketing team is (continuously) looking at current or soon-to-be success stories in and around interoperability @Polkadot.
Here is a non-exhaustive list of areas we are looking at:
- Token transfers (we assume there’ll be a lot so please indicate if it’s para-to-para or para-to-relay, and for which use case)
- Broader DeFi (staking, fee payments, …)
- Anything around NFTs
- Identity & certification
- Reserve-backed assets
- Multichain smarts contracts
- Multichain ownership, DAOs & Treasuries
- Any other arbitrary message passing
- (soon) anything to external ecosystems
Please send us a 3-liner if your team has built anything using XCM on Kusama/Polkadot. If you have any details, blogs, or similar info ready, that would be helpful, but don’t worry if not, we can always get back to you and ask for more info! Please indicate if the case is live already or in development or in ideation stage. You can use email@example.com to reply, too.
We intend to use this information to create 2 to 4 blog posts that focus on a few specific use case groups, and also plan to use this for our PR initiatives around XCM. Ofc, we’ll check back in with you again before we publish anything identifiable.
Thank you in advance!
During our event series Privacy in Moonbeam, the team showcased a new use-case for a remote transact to privatize funds in Manta via XCM
Could you expand what you mean by ‘reserve backed assets’ in this context?
Route wormhole assets (i.e. all the assets in major L1/L2) to parachains seamlessly without requiring users doing anything on Acala/Karura directly.
Great, thank you so much - and also for the emails!
B2B Listing&LPing on HydraDX:
Use assets as collateral to bridge Bitcoin to Interlay and all other parachains connected via XCM.
We got DOT, USDT, KSM, LKSM as collateral assets that fully insure BTC bridged over to Interlay. iBTC and kBTC are used via XCM on various other parachains.
We’re currently developing Genesis DAO, a platform as a service for DAOs, built on a Polkadot parachain. Our system integrates Cross Chain Messaging (XCM) into its infrastructure.
Our utilization of XCM is primarily focused on token transfers, specifically para-to-para. It enables the of DAO tokens to other chains, with these tokens becoming native parts of their respective protocols. The voting, treasury, and other DAO infrastructure are intended to reside natively on the Genesis DAO platform, separating the business logic from the dao logic: Protocols can vote via XCM on Genesis DAO regardless on which parachain they reside.
The MVP of Genesis DAO is now available and open-source. We’re glad to provide any additional information or details that may be useful for your upcoming blog posts and PR initiatives.
On the Bifrost side, homogeneity (standardisation), liquidity, and built-in yield are the attributes that determine Bifrost liquid staking tokens (“vToken”) ability to meet a variety of DeFi use cases.
Therefore, vToken’s cross-chain DeFi interaction scenarios will become the core of expanding XCM use cases.
As a result, Bifrost has been building the XCM Action Pallet in order to achieve the following goals:
- Support users to mint Bifrost liquid staking tokens (vTokens) on the target chain; (directly minting liquid staked DOT (vDOT) on Moonbeam, Astar, Interlay etc.)
- Expand the applications and utility of vToken liquidity on the Bifrost chain, and support cross-chain swaps and liquidations.
The XCM Action Pallet is currently under testing (likely live on Kusama network- Moonriver end of this month, and Polkadot Moonbeam Astar by next month TBC). XCM Action will be released in two versions:
V1: Supports contract invocation on EVM-compatible chain.
V2: Supports Pallet invocation on Substrate parachains.
For more information please feel free to read the following tech document: XCM-Action Pallet as well as this article about XCM V3 and Bifrost (here).
Little late to the party but, we have recently created XCM API for Polkadot and Kusama ecosystem during the Polkadot Global Series APAC 2023 Hackathon. Feel free to observe the project in the following repo and read more about it in the following documentation. We aim for this common good tool to be completely free for everyone forever (Treasury funding is considered to pay for server costs once API is deployed). We would also like to implement NFT cross-chain support in the near future as an addition to the already broad scale of functionalities API offers. It already features useful components like DDoS prevention with 3 different request limits more on that in documentation. We will be pitching this submission at the finale in PolkadotSocial Seoul. Hope to see you there.