This referendum opens the XCM channel to Bifrost. This will allow Kintsugi assets to be transferred to Bifrost and used there.

This is the first part of two referenda to open bi-directional communication with Bifrost. The second referendum will accept the open channel to Kintsugi.

Note: Bifrost needs to pass a referendum as well to accept this open channel.

Request to upgrade to 7 day referendum:
As we want to move quickly on opening new xcm channels in order to make room for discussions on use cases for kBTC, we would like to upgrade this proposal already to a 7 day referendum.

Open XCM channel with Bifrost - Part 1/2 (HRMP INIT)

This referendum opens the XCM channel to Basilisk. This will allow Kintsugi assets to be transferred to Basilisk and used there.

This is the first part of two referenda to open bi-directional communication with Basilisk. The second referendum will accept the open channel to Kintsugi.

Note: Basilisk needs to pass a referendum as well to accept this open channel.

Request to upgrade to 7 day referendum:
As we want to move quickly on opening new xcm channels in order to make room for discussions on use cases for kBTC, we would like to upgrade this proposal already to a 7 day referendum.

Open XCM channel with Basilisk - Part 1/2 (HRMP INIT)

I burned [0.0575407](https://kintsugi.subscan.io/extrinsic/0x91c5d58a4d1b796939de630b856f7a945ff663c376837c26de49710002885817) kBTC without getting KSM in return.
turn them from the treasury in equivalent KINT