diff --git a/.gitignore b/.gitignore
index caa7d1159..e31f83988 100644
--- a/.gitignore
+++ b/.gitignore
@@ -11,6 +11,3 @@ Cargo.lock
 
 .DS_Store
 .idea
-
-# Intentional not commiting this file to allow this repo to be added as a submodule
-/Cargo.toml
diff --git a/Cargo.dev.toml b/Cargo.dev.toml
index 6e7de60ee..1dad4ba7e 100644
--- a/Cargo.dev.toml
+++ b/Cargo.dev.toml
@@ -37,35 +37,35 @@ scale-info = { version = "2.10.0", default-features = false, features = ["derive
 serde = { version = "1.0.189" }
 parity-scale-codec = { version = "3.6.5", default-features = false, features = ["max-encoded-len"] }
 
-cumulus-pallet-xcm = { version = "0.13.0", default-features = false }
-cumulus-primitives-core = { version = "0.13.0", default-features = false }
-frame-benchmarking = { version = "34.0.0", default-features = false }
-frame-support = { version = "34.0.0", default-features = false }
-frame-system = { version = "34.0.1", default-features = false }
-pallet-balances = { version = "35.0.0", default-features = false }
-pallet-elections-phragmen = { version = "35.0.0", default-features = false }
-pallet-message-queue = { version = "37.0.0", default-features = false }
-pallet-preimage = { version = "34.0.0", default-features = false }
-pallet-root-testing = { version = "10.0.0", default-features = false }
-pallet-scheduler = { version = "35.0.0", default-features = false }
-pallet-timestamp = { version = "33.0.0", default-features = false }
-pallet-treasury = { version = "33.0.0", default-features = false }
-pallet-xcm = { version = "13.0.0", default-features = false }
-polkadot-parachain-primitives = { version = "12.0.0", default-features = false }
-polkadot-runtime-common = { version = "13.0.0", default-features = false }
-polkadot-runtime-parachains = { version = "13.0.0", default-features = false }
-sp-api = { version = "32.0.0", default-features = false }
-sp-application-crypto = { version = "36.0.0", default-features = false }
+cumulus-pallet-xcm = { version = "0.12.0", default-features = false }
+cumulus-primitives-core = { version = "0.12.0", default-features = false }
+frame-benchmarking = { version = "33.0.0", default-features = false }
+frame-support = { version = "33.0.0", default-features = false }
+frame-system = { version = "33.0.0", default-features = false }
+pallet-balances = { version = "34.0.0", default-features = false }
+pallet-elections-phragmen = { version = "34.0.0", default-features = false }
+pallet-message-queue = { version = "36.0.0", default-features = false }
+pallet-preimage = { version = "33.0.0", default-features = false }
+pallet-root-testing = { version = "9.0.0", default-features = false }
+pallet-scheduler = { version = "34.0.0", default-features = false }
+pallet-timestamp = { version = "32.0.0", default-features = false }
+pallet-treasury = { version = "32.0.0", default-features = false }
+pallet-xcm = { version = "12.0.0", default-features = false }
+polkadot-parachain-primitives = { version = "11.0.0", default-features = false }
+polkadot-runtime-common = { version = "12.0.0", default-features = false }
+polkadot-runtime-parachains = { version = "12.0.0", default-features = false }
+sp-api = { version = "31.0.0", default-features = false }
+sp-application-crypto = { version = "35.0.0", default-features = false }
 sp-arithmetic = { version = "26.0.0", default-features = false }
-sp-core = { version = "33.0.1", default-features = false }
-sp-io = { version = "36.0.0", default-features = false }
-sp-runtime = { version = "37.0.0", default-features = false }
+sp-core = { version = "32.0.0", default-features = false }
+sp-io = { version = "35.0.0", default-features = false }
+sp-runtime = { version = "36.0.0", default-features = false }
 sp-runtime-interface = { version = "27.0.0", default-features = false }
-sp-staking = { version = "32.0.0", default-features = false }
+sp-staking = { version = "31.0.0", default-features = false }
 sp-std = { version = "14.0.0", default-features = false }
 sp-storage = { version = "21.0.0", default-features = false }
-xcm = { version = "13.0.1", package = "staging-xcm", default-features = false }
-xcm-builder = { version = "13.0.0", package = "staging-xcm-builder", default-features = false }
-xcm-executor = { version = "13.0.0", package = "staging-xcm-executor", default-features = false }
+xcm = { version = "12.0.0", package = "staging-xcm", default-features = false }
+xcm-builder = { version = "12.0.0", package = "staging-xcm-builder", default-features = false }
+xcm-executor = { version = "12.0.0", package = "staging-xcm-executor", default-features = false }
 
-xcm-simulator = { version = "13.0.0" }
+xcm-simulator = { version = "12.0.0" }
diff --git a/Cargo.toml b/Cargo.toml
new file mode 100644
index 000000000..1dad4ba7e
--- /dev/null
+++ b/Cargo.toml
@@ -0,0 +1,71 @@
+[workspace]
+members = [
+	"asset-registry",
+	"auction",
+	"authority",
+	"benchmarking",
+	"build-script-utils",
+	"currencies",
+	"gradually-update",
+	"nft",
+	"oracle",
+	"oracle/runtime-api",
+	"parameters",
+	"payments",
+	"rate-limit",
+	"rewards",
+	"tokens",
+	"tokens/runtime-api",
+	"traits",
+	"unknown-tokens",
+	"utilities",
+	"vesting",
+	"xcm-mock-message-queue",
+	"xcm-support",
+	"xcm",
+	"xtokens",
+]
+
+resolver = "2"
+
+[profile.dev]
+split-debuginfo = "unpacked"
+
+[workspace.dependencies]
+log = { version = "0.4.20", default-features = false }
+scale-info = { version = "2.10.0", default-features = false, features = ["derive"] }
+serde = { version = "1.0.189" }
+parity-scale-codec = { version = "3.6.5", default-features = false, features = ["max-encoded-len"] }
+
+cumulus-pallet-xcm = { version = "0.12.0", default-features = false }
+cumulus-primitives-core = { version = "0.12.0", default-features = false }
+frame-benchmarking = { version = "33.0.0", default-features = false }
+frame-support = { version = "33.0.0", default-features = false }
+frame-system = { version = "33.0.0", default-features = false }
+pallet-balances = { version = "34.0.0", default-features = false }
+pallet-elections-phragmen = { version = "34.0.0", default-features = false }
+pallet-message-queue = { version = "36.0.0", default-features = false }
+pallet-preimage = { version = "33.0.0", default-features = false }
+pallet-root-testing = { version = "9.0.0", default-features = false }
+pallet-scheduler = { version = "34.0.0", default-features = false }
+pallet-timestamp = { version = "32.0.0", default-features = false }
+pallet-treasury = { version = "32.0.0", default-features = false }
+pallet-xcm = { version = "12.0.0", default-features = false }
+polkadot-parachain-primitives = { version = "11.0.0", default-features = false }
+polkadot-runtime-common = { version = "12.0.0", default-features = false }
+polkadot-runtime-parachains = { version = "12.0.0", default-features = false }
+sp-api = { version = "31.0.0", default-features = false }
+sp-application-crypto = { version = "35.0.0", default-features = false }
+sp-arithmetic = { version = "26.0.0", default-features = false }
+sp-core = { version = "32.0.0", default-features = false }
+sp-io = { version = "35.0.0", default-features = false }
+sp-runtime = { version = "36.0.0", default-features = false }
+sp-runtime-interface = { version = "27.0.0", default-features = false }
+sp-staking = { version = "31.0.0", default-features = false }
+sp-std = { version = "14.0.0", default-features = false }
+sp-storage = { version = "21.0.0", default-features = false }
+xcm = { version = "12.0.0", package = "staging-xcm", default-features = false }
+xcm-builder = { version = "12.0.0", package = "staging-xcm-builder", default-features = false }
+xcm-executor = { version = "12.0.0", package = "staging-xcm-executor", default-features = false }
+
+xcm-simulator = { version = "12.0.0" }
diff --git a/asset-registry/src/mock/para.rs b/asset-registry/src/mock/para.rs
index 2121a2153..6829e4225 100644
--- a/asset-registry/src/mock/para.rs
+++ b/asset-registry/src/mock/para.rs
@@ -236,7 +236,6 @@ impl Config for XcmConfig {
 	type HrmpNewChannelOpenRequestHandler = ();
 	type HrmpChannelAcceptedHandler = ();
 	type HrmpChannelClosingHandler = ();
-	type XcmRecorder = ();
 }
 
 impl cumulus_pallet_xcm::Config for Runtime {
diff --git a/asset-registry/src/mock/relay.rs b/asset-registry/src/mock/relay.rs
index c3f867111..05eedfd6b 100644
--- a/asset-registry/src/mock/relay.rs
+++ b/asset-registry/src/mock/relay.rs
@@ -113,7 +113,6 @@ impl Config for XcmConfig {
 	type HrmpNewChannelOpenRequestHandler = ();
 	type HrmpChannelAcceptedHandler = ();
 	type HrmpChannelClosingHandler = ();
-	type XcmRecorder = ();
 }
 
 pub type LocalOriginToLocation = SignedToAccountId32<RuntimeOrigin, AccountId, KusamaNetwork>;
diff --git a/tokens/src/impls.rs b/tokens/src/impls.rs
index 83a65ad60..04ace3eda 100644
--- a/tokens/src/impls.rs
+++ b/tokens/src/impls.rs
@@ -120,14 +120,13 @@ where
 		asset: Self::AssetId,
 		dest: &AccountId,
 		amount: Self::Balance,
-		preservation: Preservation,
 		precision: Precision,
 		fortitude: Fortitude,
 	) -> Result<Self::Balance, DispatchError> {
 		if TestKey::contains(&asset) {
-			A::burn_from(dest, amount, preservation, precision, fortitude)
+			A::burn_from(dest, amount, precision, fortitude)
 		} else {
-			B::burn_from(asset, dest, amount, preservation, precision, fortitude)
+			B::burn_from(asset, dest, amount, precision, fortitude)
 		}
 	}
 
@@ -296,7 +295,6 @@ where
 	fn burn_from(
 		dest: &AccountId,
 		amount: Self::Balance,
-		preservation: Preservation,
 		precision: Precision,
 		fortitude: Fortitude,
 	) -> Result<Self::Balance, DispatchError> {
@@ -304,7 +302,6 @@ where
 			GetCurrencyId::get(),
 			dest,
 			C::convert_balance_back(amount, GetCurrencyId::get())?,
-			preservation,
 			precision,
 			fortitude,
 		)
diff --git a/tokens/src/lib.rs b/tokens/src/lib.rs
index cc7dfb83e..4e8bdcf57 100644
--- a/tokens/src/lib.rs
+++ b/tokens/src/lib.rs
@@ -1858,8 +1858,6 @@ impl<T: Config> fungibles::Mutate<T::AccountId> for Pallet<T> {
 		asset_id: Self::AssetId,
 		who: &T::AccountId,
 		amount: Self::Balance,
-		// TODO: Respect preservation
-		_preservation: Preservation,
 		// TODO: Respect precision
 		_precision: Precision,
 		// TODO: Respect fortitude
@@ -2494,7 +2492,6 @@ where
 	fn burn_from(
 		who: &T::AccountId,
 		amount: Self::Balance,
-		preservation: Preservation,
 		precision: Precision,
 		fortitude: Fortitude,
 	) -> Result<Self::Balance, DispatchError> {
@@ -2502,7 +2499,6 @@ where
 			GetCurrencyId::get(),
 			who,
 			amount,
-			preservation,
 			precision,
 			fortitude,
 		)
diff --git a/tokens/src/tests_events.rs b/tokens/src/tests_events.rs
index df79ed80f..1aff9861e 100644
--- a/tokens/src/tests_events.rs
+++ b/tokens/src/tests_events.rs
@@ -174,7 +174,6 @@ fn pallet_fungibles_mutate_deposit_events() {
 				DOT,
 				&ALICE,
 				500,
-				Preservation::Expendable,
 				Precision::Exact,
 				Fortitude::Polite
 			));
diff --git a/tokens/src/tests_fungibles.rs b/tokens/src/tests_fungibles.rs
index 13c56c33a..62e5eb77d 100644
--- a/tokens/src/tests_fungibles.rs
+++ b/tokens/src/tests_fungibles.rs
@@ -55,7 +55,6 @@ fn fungibles_mutate_trait_should_work() {
 				DOT,
 				&ALICE,
 				8,
-				Preservation::Expendable,
 				Precision::Exact,
 				Fortitude::Polite
 			),
@@ -725,7 +724,6 @@ fn fungibles_mutate_convert_should_work() {
 				DOT,
 				&BOB,
 				10000,
-				Preservation::Expendable,
 				Precision::Exact,
 				Fortitude::Polite
 			));
diff --git a/xtokens/src/mock/para.rs b/xtokens/src/mock/para.rs
index b879e539c..159c8bf8c 100644
--- a/xtokens/src/mock/para.rs
+++ b/xtokens/src/mock/para.rs
@@ -147,7 +147,6 @@ impl Config for XcmConfig {
 	type HrmpNewChannelOpenRequestHandler = ();
 	type HrmpChannelAcceptedHandler = ();
 	type HrmpChannelClosingHandler = ();
-	type XcmRecorder = ();
 }
 
 impl cumulus_pallet_xcm::Config for Runtime {
diff --git a/xtokens/src/mock/para_relative_view.rs b/xtokens/src/mock/para_relative_view.rs
index f912eaf58..8b3d79f0e 100644
--- a/xtokens/src/mock/para_relative_view.rs
+++ b/xtokens/src/mock/para_relative_view.rs
@@ -145,7 +145,6 @@ impl Config for XcmConfig {
 	type HrmpNewChannelOpenRequestHandler = ();
 	type HrmpChannelAcceptedHandler = ();
 	type HrmpChannelClosingHandler = ();
-	type XcmRecorder = ();
 }
 
 impl cumulus_pallet_xcm::Config for Runtime {
diff --git a/xtokens/src/mock/para_teleport.rs b/xtokens/src/mock/para_teleport.rs
index c0a8664f4..ea882fdaa 100644
--- a/xtokens/src/mock/para_teleport.rs
+++ b/xtokens/src/mock/para_teleport.rs
@@ -143,7 +143,6 @@ impl Config for XcmConfig {
 	type HrmpNewChannelOpenRequestHandler = ();
 	type HrmpChannelAcceptedHandler = ();
 	type HrmpChannelClosingHandler = ();
-	type XcmRecorder = ();
 }
 
 impl cumulus_pallet_xcm::Config for Runtime {
diff --git a/xtokens/src/mock/relay.rs b/xtokens/src/mock/relay.rs
index 47deaae4d..a9d1d2912 100644
--- a/xtokens/src/mock/relay.rs
+++ b/xtokens/src/mock/relay.rs
@@ -123,7 +123,6 @@ impl Config for XcmConfig {
 	type HrmpNewChannelOpenRequestHandler = ();
 	type HrmpChannelAcceptedHandler = ();
 	type HrmpChannelClosingHandler = ();
-	type XcmRecorder = ();
 }
 
 pub type LocalOriginToLocation = SignedToAccountId32<RuntimeOrigin, AccountId, KusamaNetwork>;