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+# Depercation of Currency Factory - Assessment RFC
+
+This assessment aims to gather all relevant details and consoquences of 
+depercating Currency Factory and its replacments.
+
+## Reasoning
+
+There are several reasons we stand to benifit 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) 
+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 
+enforce artificial limitations on various abstractions of these two currency 
+types. This complicates the currency creation process and leads to confusion 
+while providing no benefit to us.
+
+### Currency Factory is Already Losing Functionality
+
+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.
+
+Assuming we replace the reservation system, Currency Factory will be left 
+without value.
+
+## Solution Proposals
+
+There are multiple ways we could go about replacing Currency Factory. These 
+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 
+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 
+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 
+asset IDs are still safe (i.e `u32::MAX`). This would reduce the complexity of 
+our current reservation system while still avoiding collisons.
+
+### Use an Externally Maintained Asset ID Reservation System
+
+Neither option presented seems to handle the reserving of asset IDs. Therefore, 
+neither of these will fully replace currency factory and would more correctly 
+replace our own pallet-assets. A replacement for pallet-assets may be a good 
+idea but would require much more substantial changes A replacement for 
+pallet-assets may be a good idea but would require much more substantial 
+changes.
+
+* **Parity's pallet-assets**
+  
+  #### Pros
+  
+  * Very nice UI compatability with Polkadot Dashboard
+  
+  * Maintained by Parity
+  
+  * Simple Interface
+  
+  #### Cons
+  
+  * No asset ID reservation system, only prevents duplicates
+  
+  * Hold functionality is not present (We depend on this in several cases)
+
+* **Moonbeam's pallet-asset-manager**
+
+  #### Pros
+  
+  * Maintained by moonbeam
+  
+  #### Cons
+  
+  * Partially specialized
+  
+  * No asset ID reservation system, only prevents duplicates
+
+## Questions
+
+* > 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` 
+  there is no mention of the Asset Metadata structure.
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