Same as previous attempt, but fixed transaction to send request to open channel from 2001(self - wrong) to 2087(Picasso - right)
Picasso aims to become the DeFi hub of Kusama, connecting parachains with the broader Cosmos ecosystem. Through opening this XCM channel, Bifrost assets will have access to Picasso dapps, thereby increasing the utility and TVL of vKSM and other Bifrost tokens.
For example, we will setup pools for vKSM and BNC 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.
This requires 11 KSM to be on the target Parachain 2001(Bifrost) account.
Picasso and Bifrost are two different platforms that want to work together to increase the value of their tokens. Bifrost wants to open a channel to Picasso so that their tokens can be used in Picasso's applications. This will help both platforms grow. To do this, Bifrost needs to send a request to Picasso and accept a request from Picasso. This process requires 11 KSM to be on the target Parachain 2001(Bifrost) account. Bifrost will put 1 KSM into the holder from Parachain 2001 account and set 1 KSM as payment asset. Then, they will execute a batch transaction. After that, Bifrost will accept an open channel request from Picasso 2087 and send an open channel request to Picasso 2087 with default parameters. Finally, any remaining fee assets will be returned back to Parachain 2001 account.