This proposal aims to register the foreign asset USD Coin (Moonbeam Wormhole).
It utilizes the MultiLocation of the USDC Wormhole contract on Moonbeam that's located at address 0x931715FEE2d06333043d11F658C8CE934aC61D0c. USDC will immediately be available as a base asset in prediction markets. Furthermore, USDC can be utilized to pay fees. A fee factor of approximately 0.038 (USDC/ZTG) is initially used for the conversion.
The proposal wants to register a foreign asset called USD Coin (Moonbeam Wormhole).
The proposal uses something called MultiLocation and a contract on Moonbeam with a specific address.
USD Coin will be available right away for prediction markets.
People can use USD Coin to pay fees.
The conversion rate for fees is about 0.038 USDC for every ZTG.