In light of the Wormhole bridge discontinuation (see announcement: https://x.com/AcalaNetwork/status/1927003136998166602), we must migrate ASEED’s USDC collateral to AssetHub USDC to ensure continuous redeemability for ASEED holders.

This proposal initiates that process by:
1. Pausing ASEED redemptions.
2.Transferring all Wormhole-sourced USDC collateral into a staging account.

Once the funds are fully secured on AssetHub, a follow-up referendum will:
• Update the collateral type to AssetHub USDC.
• Resume ASEED redemption against the newly converted USDC collateral.