Multi instance PSM

cumulus/parachains/runtimes/assets/asset-hub-westend/Cargo.toml

@@ -58,7 +58,6 @@ pallet-nfts = { workspace = true }
 pallet-nfts-runtime-api = { workspace = true }
 pallet-nomination-pools = { workspace = true }
 pallet-nomination-pools-runtime-api = { workspace = true }
-pallet-parameters = { workspace = true }
 pallet-pgas-allowance = { workspace = true }
 pallet-preimage = { workspace = true }
 pallet-proxy = { workspace = true }
@@ -210,7 +209,6 @@ runtime-benchmarks = [
 	"pallet-nft-fractionalization/runtime-benchmarks",
 	"pallet-nfts/runtime-benchmarks",
 	"pallet-nomination-pools/runtime-benchmarks",
-	"pallet-parameters/runtime-benchmarks",
 	"pallet-pgas-allowance/runtime-benchmarks",
 	"pallet-preimage/runtime-benchmarks",
 	"pallet-proxy/runtime-benchmarks",
@@ -296,7 +294,6 @@ try-runtime = [
 	"pallet-nft-fractionalization/try-runtime",
 	"pallet-nfts/try-runtime",
 	"pallet-nomination-pools/try-runtime",
-	"pallet-parameters/try-runtime",
 	"pallet-pgas-allowance/try-runtime",
 	"pallet-preimage/try-runtime",
 	"pallet-proxy/try-runtime",
@@ -390,7 +387,6 @@ std = [
 	"pallet-nfts/std",
 	"pallet-nomination-pools-runtime-api/std",
 	"pallet-nomination-pools/std",
-	"pallet-parameters/std",
 	"pallet-pgas-allowance/std",
 	"pallet-preimage/std",
 	"pallet-proxy/std",

cumulus/parachains/runtimes/assets/asset-hub-westend/src/lib.rs

@@ -55,7 +55,6 @@ use cumulus_primitives_core::{
 use frame_support::{
 	construct_runtime, derive_impl,
 	dispatch::DispatchClass,
-	dynamic_params::{dynamic_pallet_params, dynamic_params},
 	genesis_builder_helper::{build_state, get_preset},
 	ord_parameter_types, parameter_types,
 	traits::{
@@ -1422,17 +1421,19 @@ parameter_types! {
 	pub MbmServiceWeight: Weight = Perbill::from_percent(80) * RuntimeBlockWeights::get().max_block;
 	pub FastUnstakeName: &'static str = "FastUnstake";
 	pub PsmName: &'static str = "Psm";
+	pub ParametersName: &'static str = "Parameters";
 }
 
-/// One-shot migration: writes `pallet_psm`'s on-chain storage version to v2.
+/// One-shot migration: writes `pallet_psm`'s on-chain storage version to v1.
 /// Required because `RemovePallet<PsmName>` (above in the migration tuple)
-/// wipes the pallet's `:__STORAGE_VERSION__:` key, and `InitializePsm` doesn't
-/// re-seed it. Without this, try-runtime's post-upgrade check sees in-code = 2,
-/// on-chain = 0 and panics.
-pub struct SetPsmStorageVersionV2;
-impl frame_support::traits::OnRuntimeUpgrade for SetPsmStorageVersionV2 {
+/// wipes the pallet's `:__STORAGE_VERSION__:` key, and nothing else re-seeds it
+/// (PSMs are now created on demand via the permissionless `create_psm` extrinsic).
+/// Without this, try-runtime's post-upgrade check sees in-code = 1, on-chain = 0
+/// and panics.
+pub struct SetPsmStorageVersionV1;
+impl frame_support::traits::OnRuntimeUpgrade for SetPsmStorageVersionV1 {
 	fn on_runtime_upgrade() -> Weight {
-		frame_support::traits::StorageVersion::new(2).put::<pallet_psm::Pallet<Runtime>>();
+		frame_support::traits::StorageVersion::new(1).put::<pallet_psm::Pallet<Runtime>>();
 		<Runtime as frame_system::Config>::DbWeight::get().writes(1)
 	}
 
@@ -1441,8 +1442,8 @@ impl frame_support::traits::OnRuntimeUpgrade for SetPsmStorageVersionV2 {
 		use frame_support::{ensure, traits::GetStorageVersion};
 		ensure!(
 			pallet_psm::Pallet::<Runtime>::on_chain_storage_version() ==
-				frame_support::traits::StorageVersion::new(2),
-			"PSM on-chain storage version was not set to 2"
+				frame_support::traits::StorageVersion::new(1),
+			"PSM on-chain storage version was not set to 1"
 		);
 		Ok(())
 	}
@@ -1573,98 +1574,14 @@ impl pallet_verify_signature::Config for Runtime {
 	type BenchmarkHelper = ();
 }
 
-// Dynamic parameters configurable via governance.
-/// One pUSD (6 decimals).
-const PUSD: Balance = 1_000_000;
-
-#[dynamic_params(RuntimeParameters, pallet_parameters::Parameters::<Runtime>)]
-pub mod dynamic_params {
-	use super::*;
-
-	#[dynamic_pallet_params]
-	#[codec(index = 0)]
-	pub mod pusd {
-		/// Maximum pUSD issuance across the system (50 million pUSD) with precision 1e6.
-		#[codec(index = 0)]
-		pub static MaximumIssuance: Balance = 50_000_000 * PUSD;
-	}
-}
-
-#[cfg(feature = "runtime-benchmarks")]
-impl Default for RuntimeParameters {
-	fn default() -> Self {
-		use frame_support::traits::Get;
-		RuntimeParameters::Pusd(dynamic_params::pusd::Parameters::MaximumIssuance(
-			dynamic_params::pusd::MaximumIssuance,
-			Some(dynamic_params::pusd::MaximumIssuance::get()),
-		))
-	}
-}
-
-/// Origin check for dynamic parameter changes — only Root can modify.
-pub struct DynamicParameterOrigin;
-impl frame_support::traits::EnsureOriginWithArg<RuntimeOrigin, RuntimeParametersKey>
-	for DynamicParameterOrigin
-{
-	type Success = ();
-	fn try_origin(
-		origin: RuntimeOrigin,
-		_key: &RuntimeParametersKey,
-	) -> Result<Self::Success, RuntimeOrigin> {
-		frame_system::ensure_root(origin.clone()).map_err(|_| origin)
-	}
-	#[cfg(feature = "runtime-benchmarks")]
-	fn try_successful_origin(_key: &RuntimeParametersKey) -> Result<RuntimeOrigin, ()> {
-		Ok(RuntimeOrigin::root())
-	}
-}
-
-impl pallet_parameters::Config for Runtime {
-	type RuntimeEvent = RuntimeEvent;
-	type RuntimeParameters = RuntimeParameters;
-	type AdminOrigin = DynamicParameterOrigin;
-	type WeightInfo = weights::pallet_parameters::WeightInfo<Runtime>;
-}
-
 // PSM configuration.
 parameter_types! {
-	/// The pUSD stablecoin asset ID (trust-backed asset).
-	pub const PsmStablecoinAssetId: AssetIdForTrustBackedAssets = 50000342;
-	/// Minimum swap amount for PSM operations (1 pUSD).
-	pub const PsmMinSwapAmount: Balance = PUSD;
+	/// Minimum swap amount for PSM operations (1 unit at 6-decimal precision).
+	pub const PsmMinSwapAmount: Balance = 1_000_000;
+	/// Native-currency deposit reserved when permissionlessly creating a PSM.
+	pub const PsmCreationDeposit: Balance = deposit(1, 68);
 	/// PalletId for deriving the PSM system account.
 	pub const PsmPalletId: PalletId = PalletId(*b"py/pegsm");
-	/// Fee revenue destination: pUSD insurance fund account.
-	pub const PsmFeeDestinationPalletId: PalletId = PalletId(*b"pusd/ins");
-	pub PsmFeeDestination: AccountId = PsmFeeDestinationPalletId::get().into_account_truncating();
-}
-
-/// pUSD as a single-asset fungible, backed by trust-backed assets (Instance1).
-type PsmInternalAsset =
-	frame_support::traits::fungible::ItemOf<Assets, PsmStablecoinAssetId, AccountId>;
-
-/// EnsureOrigin for PSM management with privilege levels.
-/// - Root gets Full privileges (all parameter changes).
-/// - MonetaryGuard gets Emergency privileges (circuit breaker only).
-pub struct EnsurePsmManager;
-impl frame_support::traits::EnsureOrigin<RuntimeOrigin> for EnsurePsmManager {
-	type Success = pallet_psm::PsmManagerLevel;
-
-	fn try_origin(o: RuntimeOrigin) -> Result<Self::Success, RuntimeOrigin> {
-		// Try Root first.
-		let o = match o.clone().into() {
-			Ok(frame_system::RawOrigin::Root) => return Ok(pallet_psm::PsmManagerLevel::Full),
-			_ => o,
-		};
-		// Try MonetaryGuard — circuit breaker only.
-		pallet_custom_origins::MonetaryGuard::try_origin(o)
-			.map(|_| pallet_psm::PsmManagerLevel::Emergency)
-	}
-
-	#[cfg(feature = "runtime-benchmarks")]
-	fn try_successful_origin() -> Result<RuntimeOrigin, ()> {
-		Ok(RuntimeOrigin::root())
-	}
 }
 
 #[cfg(feature = "runtime-benchmarks")]
@@ -1703,46 +1620,19 @@ impl pallet_psm::BenchmarkHelper<xcm::v5::Location, AccountId> for PsmBenchmarkH
 
 impl pallet_psm::Config for Runtime {
 	type Fungibles = LocalAndForeignAssets;
+	type Currency = Balances;
+	type RuntimeOrigin = RuntimeOrigin;
+	type PalletsOrigin = OriginCaller;
 	type AssetId = xcm::v5::Location;
-	type MaximumIssuance = dynamic_params::pusd::MaximumIssuance;
-	type ManagerOrigin = EnsurePsmManager;
 	type WeightInfo = weights::pallet_psm::WeightInfo<Runtime>;
-	type InternalAsset = PsmInternalAsset;
-	type FeeDestination = PsmFeeDestination;
 	type PalletId = PsmPalletId;
 	type MinSwapAmount = PsmMinSwapAmount;
-	type MaxExternalAssets = ConstU32<3>;
+	type MaxExternalAssetsPerPsm = ConstU32<3>;
+	type CreationDeposit = PsmCreationDeposit;
 	#[cfg(feature = "runtime-benchmarks")]
 	type BenchmarkHelper = PsmBenchmarkHelper;
 }
 
-/// Initial PSM configuration applied via the init migration.
-///
-/// Sets up USDT (trust-backed asset `1984`, addressed by its `Location`) as the
-/// first external asset.
-pub struct PsmInitialConfig;
-impl pallet_psm::migrations::init::InitialPsmConfig<Runtime> for PsmInitialConfig {
-	fn max_psm_debt_of_total() -> Permill {
-		// USDT PSM cap is 5M out of 50M total issuance = 10%.
-		Permill::from_percent(10)
-	}
-	fn asset_configs(
-	) -> alloc::collections::btree_map::BTreeMap<xcm::v5::Location, (Permill, Permill, Permill)> {
-		use xcm::latest::prelude::*;
-		let usdt_location = xcm::v5::Location::new(0, [PalletInstance(50), GeneralIndex(1984)]);
-		[(
-			usdt_location,
-			(
-				Permill::zero(),                         // 0% minting fee
-				Permill::from_rational(1u32, 10_000u32), // 0.01% redemption fee
-				Permill::from_percent(100),              // ceiling weight
-			),
-		)]
-		.into_iter()
-		.collect()
-	}
-}
-
 // Create the runtime by composing the FRAME pallets that were previously configured.
 construct_runtime!(
 	pub enum Runtime
@@ -1791,7 +1681,6 @@ construct_runtime!(
 		Indices: pallet_indices = 43,
 		MetaTx: pallet_meta_tx = 44,
 		VerifySignature: pallet_verify_signature = 45,
-		Parameters: pallet_parameters = 46,
 		Recovery: pallet_recovery = 47,
 
 		// The main stage.
@@ -2006,14 +1895,20 @@ pub type Migrations = (
 
 	// start: PSM reset
 
-	// `RemovePallet` wipes ALL of PSM's storage (entries + CountedStorageMap
-	// counters + the storage version key). `InitializePsm` then re-seeds data
-	// under the new `Location` AssetId, and `SetPsmStorageVersionV2` writes
-	// the on-chain storage version that `RemovePallet` cleared.
+	// `RemovePallet` wipes the old PSM deployment (entries + storage version
+	// key). `SetPsmStorageVersionV1` re-seeds the storage version key that
+	// `RemovePallet` cleared.
 	frame_support::migrations::RemovePallet<PsmName, <Runtime as frame_system::Config>::DbWeight>,
-	pallet_psm::migrations::init::InitializePsm<Runtime, PsmInitialConfig>,
-	SetPsmStorageVersionV2,
+	SetPsmStorageVersionV1,
 	// end: PSM reset
+
+	// `pallet_parameters` only ever hosted the now-removed system-wide PSM issuance cap
+	// (the per-PSM `max_debt` replaced it). Wipe its on-chain storage now that the pallet
+	// is gone from the runtime.
+	frame_support::migrations::RemovePallet<
+		ParametersName,
+		<Runtime as frame_system::Config>::DbWeight,
+	>,
 	pallet_dap::migrations::MigrateV1ToV2<
 		Runtime,
 		DapLastIssuanceTimestamp,
@@ -2243,8 +2138,8 @@ mod benches {
 		[pallet_nft_fractionalization, NftFractionalization]
 		[pallet_nfts, Nfts]
 		[pallet_proxy, Proxy]
-		[pallet_psm, Psm]
 		[pallet_parameters, Parameters]
+    [pallet_psm, Psm]
 		[pallet_recovery, Recovery]
 		[pallet_session, SessionBench::<Runtime>]
 		[pallet_staking_async, Staking]

cumulus/parachains/runtimes/assets/asset-hub-westend/src/weights/mod.rs

@@ -47,7 +47,6 @@ pub mod pallet_multisig;
 pub mod pallet_nft_fractionalization;
 pub mod pallet_nfts;
 pub mod pallet_nomination_pools;
-pub mod pallet_parameters;
 pub mod pallet_pgas_allowance;
 pub mod pallet_preimage;
 pub mod pallet_proxy;