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PoisonPhang committed Nov 29, 2022
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1 change: 1 addition & 0 deletions .config/dictionaries/terminology.dic
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Expand Up @@ -322,6 +322,7 @@ Currency
unignore
modularly
admined
mintable

coeff # coefficient
recvs # recieves
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26 changes: 13 additions & 13 deletions rfcs/0013-deprecate-currency-factory.md
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@@ -1,16 +1,16 @@
# Depercation of Currency Factory - Assessment RFC
# Depreciation of Currency Factory - Assessment RFC

This assessment aims to gather all relevant details and consoquences of
depercating Currency Factory and its replacments.
This assessment aims to gather all relevant details and consequences of
depreciating Currency Factory and its replacements.

## Reasoning

There are several reasons we stand to benifit from replacing Currency Factory.
There are several reasons we stand to benefit from replacing Currency Factory.
These reasons are detailed below:

### Currency Factory Ranges are Confusing

As detailed by Dzmitry in [this](https://composablefinance.slack.com/archives/C031G5NT0CA/p1667492928188269)
As detailed in [this](https://composablefinance.slack.com/archives/C031G5NT0CA/p1667492928188269)
thread, the Currency Factory ranges are a confusing abstraction that we don't
stand to gain from. We really only have two types of currencies native
(mintable) and non-native (external). However, we have many more ranges that
Expand All @@ -24,8 +24,8 @@ Recently, we moved away from storing ED in Currency Factory. This leaves two
uses for currency factory: reserving asset IDs and storing asset metadata.

As we have already discussed, currency factory over complicates the asset ID
resevation system. As for asset metadata, we don't have standards for formatting
this nor do we utilize it.
reservation system. As for asset metadata, we don't have standards for
formatting this nor do we utilize it.

Assuming we replace the reservation system, Currency Factory will be left
without value.
Expand All @@ -37,15 +37,15 @@ solutions are detailed below:

### Simplify & Move the Asset ID Reservation System

One way to remove the neeed for pallet-currency-factory is to move its
One way to remove the need for pallet-currency-factory is to move its
functionality to pallet-asset-registry. If we also simplify the asset ID
reservation system, this will be a minimal change.

Instead of reserving assset IDs via our current range system, we could simply
Instead of reserving asset IDs via our current range system, we could simply
have a nonce for reserving new asset IDs while ensuring a lack of collisions.
This nonce can start at an arbritary but high number so that our hard-coded
This nonce can start at an arbitrary but high number so that our hard-coded
asset IDs are still safe (i.e `u32::MAX`). This would reduce the complexity of
our current reservation system while still avoiding collisons.
our current reservation system while still avoiding collision.

### Use an Externally Maintained Asset ID Reservation System

Expand All @@ -60,7 +60,7 @@ changes.

#### Pros

* Very nice UI compatability with Polkadot Dashboard
* Very nice UI compatibility with Polkadot Dashboard

* Maintained by Parity

Expand Down Expand Up @@ -89,5 +89,5 @@ changes.
* > As for asset metadata, we don't have standards for formatting this nor do we
utilize it.

Is this true? A breif investigation revealed that outside of `scripts/polkadot-launch/initialization/src/interfaces/basilisk/definitions.ts`
Is this true? A brief investigation revealed that outside of `scripts/polkadot-launch/initialization/src/interfaces/basilisk/definitions.ts`
there is no mention of the Asset Metadata structure.

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