# Permissionless spot quote assets

Becoming a spot quote asset is permissionless. 

The requirements for becoming a permissionless spot quote asset are as follows:

1. Wei decimals of 8 and size decimals of 2
2. Zero deployer fee share on the quote token
3. 200k HYPE staked, subject to the following slashing criteria based on validator voting: 
   1. A peg mechanism to a price of 1 USD. A future network upgrade could increase the scope to other non-dollar stable assets 
      1. QUOTE/USDC should have 100k USDC size on both sides within the price range from 0.998 and 1.002, inclusive 
      2. QUOTE/USDC should have 1M USDC size on both sides within 0.99 and 1.01, inclusive 
   2. A liquid HYPE/QUOTE book 
      1. HYPE/QUOTE should have 50k QUOTE size on both sides within a spread of 0.5%, inclusive

USDC and USDT are not subject to the staking requirement due to their longstanding track record and established scale. 

The 200k HYPE staked by the deployer are subject to slashing based on validator vote for poor quality quote assets. Upon deployment, this stake is committed for 3 years, after which it can be unstaked. This gives builders and users some assurance when choosing a quote asset. 

For any of the conditions above, if there is a three-day period during which the condition is not satisfied for a majority of uniformly-spaced 1 second samples, the quote asset will be considered slashable. Validators will vote on the amount to slash when such conditions are violated. 

Becoming a quote asset is now permissionless on testnet, where the staking requirement is 50 HYPE for ease of testing. Once the requirements above are met, the token deployer sends an `enableQuoteToken` transaction to convert the token into a quote token. This deployer action is irreversible and has no gas cost. 

Transfer fees for new accounts can be paid in 1 unit of a spot quote asset.