# TL;DR
This is a proposal to register xcWBTC as an XC20 that will be used for  bridging scheme: 
`Ethereum <-(Multichain)-> Moonbeam <-(XCM)-> Equilibrium`

# Summary
Equilibrium dev team in cooperation with Moonbeam and Multichain developed a solution for cross-chain transfers without user additional transactions on Moonbeam by using xTokens system contract. This enables user-friendly asset transfers between EVM networks like Ethereum, Polygon, etc, and Polkadot ecosystem Parachains.

Multichain is one of the most robust bridging solutions for bridging assets between different ecosystems. We are collaborating with Multichain through Moonbeam to enable the transfer of assets between Equilibrium and other ecosystems. And we will use this bridge to deploy WBTC, WETH, and USDC.

This integration will help improve our user experience as other ecosystem assets will be easily transferable to Equilibrium.

You can get more information from Equilibrium 24h Community Call with guests from Moonbeam and Multichain teams

- 24h Community Call: https://www.youtube.com/watch?v=IvOIS6Nek3Y
- 24h Community Call Recap: https://medium.com/equilibrium-eosdt/equilibrium-24th-community-call-recap-b9e11caede0

Register a new local asset
No information is stored in this pallet about the local asset
The reason is that we dont need to hold a mapping between the multilocation
and the local asset, as this conversion is deterministic
Further, we dont allow xcm fee payment in local assets

- This proposal is about registering xcWBTC as an XC20 for a bridging scheme.
- Equilibrium, Moonbeam, and Multichain have developed a solution for cross-chain transfers.
- This solution allows for easy transfers between different networks like Ethereum and Polkadot.
- The integration will improve the user experience on Equilibrium.
- You can find more information in the Equilibrium 24h Community Call.

#74 Register XC-20 xcWBTC token