Enable transfers

Rationale: It’s hard to experiment with Kusama network if you cannot buy or sell your stake. Whole governance model isn’t perfectly tested as financial instruments are removed.

Questions: How to propose enabling transfers?

Who is for yay and who is nay regarding this proposal?

Enabling transfers requires a runtime update, specifically:
removal of this line in the runtime will remove all restrictions on extrinsics currently in place.

that would mean:

  • build polkadot with that line removed from the runtime
  • find the wasm blob in your release folder
  • create a new democracy (or council) proposal calling system_setCode with your newly built runtime as the parameter. this will give you a proposal hash.
  • you need to prove your proposal hash matches this specific change “out of channel”/off-chain, and get people to vote (and second your proposal if you are going through democracy) - this is currently non-trivial
  • after your vote is enacted on-chain, you must reveal your preimage (you can see this option in the democracy tab in the apps UI).
  • after waiting for the enactment period to pass, the change is immediately applied

I would not recommend going through this process on your own as until we have a proper governance platform, it wouldn’t be trivial to do the off-chain part of this process. Hence council has been driving all referenda so far. Council motions with majority only need a simple majority to pass as referenda after the voting period passes (as opposed to proposals submitted via democracy which have quorum biasing [quorum to pass changes over time]).

haven’t heard of any council members or community members against enabling transfers :sweat_smile:

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yay! the transfer has been enabled!

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