I read about the XCM post and the answer by Joe here. Now I wonder right now what is the actual way that current parachains adopt to xcm assets. According to their "Trust level", I think they may adopt "reserve backed transfer". If so, if it is possible for the asset that is transfered from Parachain A to Parachain B can continue to be transfered to Parachain C? To be specific, if Karura, Bifrost and Moonriver all open xcm channel with each other, can $KAR on Bifrost can theoretically be transfered to Moonriver? And if it is possible, whether it is actually $KAR transfered from the account on Karura controlled by Bifrost to the account on Karura controlled by Moonriver in the background? So my understanding is the xcm transfer involves 3 parachains, the path should be 1. Bifrost burn the sender account's derivative $KAR value and 2. Karura transfer the actual $KAR from the account controlled by Bifrost to the account controlled by Moonriver and 3. Moonriver mint the derivative $KAR to the receiver account on Moonriver?
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Please edit the question to limit it to a specific problem with enough detail to identify an adequate answer.– Community BotApr 25, 2022 at 2:37
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That noted ^^^ There can be a few questions that reference this one and are derived from it. It helps to have a single clear question per post , see substrate.stackexchange.com/help/how-to-ask– Nuke ♦Apr 25, 2022 at 2:39
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2Does this answer your question? How can I transfer assets using XCM?– Keith YeungApr 25, 2022 at 8:39
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I have read that answer before, and I understand the two kinds of asset transfer way. What really bothered me is that I wanna confirm that whether only relaychain and common-good parachains use "teleport" and other parachains<->relaychain and parachain<->parachain actually adopt "reserve backed". So I take an example and list the path of a xcm asset transfer under my understanding. Just wanna know if I get the right path, thanks.– Kyrin -Apr 25, 2022 at 9:06
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Plus, I think most parachains are adopting XTokens pallet which implements asset transfer upon xcm. But Im not really good at rust right now, So I wonder whether what this pallet actually implements is not "teleport" but "reserve backed" way.– Kyrin -Apr 25, 2022 at 9:07
1 Answer
You have it spot on. If Karura, Bifrost and Moonriver all open xcm channel with each other, $stKAR on Bifrost's sovereign account on statemint can be transfered to Moonriver's sovereign account on statemint and then Moonriver's soverign account can transfer those back to Karura's sovereign account completing the circle. At each point whichever chain's account has the tokens will mint some derivatives to represent them on their local chain and then burn them when they reserve transfer them on to another chain.
I say $smKAR rather than $KAR because $KAR only exists on the Karura chain. Karaura would have to mint an asset on statemint that it could then reserve transfer around (while never actually leaving statemint). This would be fine as the Karura parachain would be trusted to have the power to mint $KSR and so would be trusted to have mint rights to $smKSR. I.e. Karura and statemint trust each other enough that they can effectively teleport. (Maybe a parachain should be able to teleport any asset that they are able to mint on statemint of to make this simpler? I shall confer on this...).
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I dont quite understand why $KAR have to be minted on statemine then be transfered to other chain in reserve backed way? Why not Bifrost and Moonriver register a sovereign account just on Karura?– Kyrin -Apr 26, 2022 at 4:50
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