Updated Asset Hub descriptions

docs/general/dashboards/parity-data-dashboards.md

@@ -20,7 +20,7 @@ provided are grouped into the following sections:
 - [Staking](https://dashboards.data.paritytech.io/staking.html) - metrics pertaining to staking,
   nomination pools and more.
 - [Ecosystem](https://dashboards.data.paritytech.io/parachains.html) - high level activity metrics
-  for parachains
+  for parachains.
 - [Monthly Report](https://dashboards.data.paritytech.io/eoyr.html) - an updated version of the
   [Polkadot in Numbers: Annual Report 2023](https://dashboards.data.paritytech.io/reports/2023/index.html).
 

docs/general/glossary.md

@@ -17,7 +17,7 @@ The fourth (now defunct) proof of concept (PoC-4) [testnet](#testnet) for Polkad
 
 ## Asset Hub
 
-A system parachain used for asset management.
+A system parachain that hosts all on-chain assets and account functionality on Polkadot, including balances, staking, proxies, and is expected to host smart contracts in Q4 2025.
 
 ## Attestation
 

docs/learn/learn-assets.md

@@ -9,21 +9,8 @@ on the latter, namely assets issued by a creator (e.g. rights to audited, off-ch
 the creator, or art issued as an NFT).
 
 The
-[Asset Hub system parachain](https://www.parity.io/blog/statemint-generic-assets-chain-proposing-a-common-good-parachain-to-polkadot-governance/)
-hosts data structures and logic that specialize in the creation, management, and use of assets in
-the network. Although other parachains can host applications dealing with assets on the Asset Hub,
-the hub can be thought of as a trusted "home base" of assets in the network.
-
-The Asset Hub uses the relay chain's native token. The chain yields its governance to its parent
-relay chain and has no inflation or era-based rewards for collators (although collators receive a
-portion of transaction fees). As a [system parachain](./learn-system-chains.md), the Asset Hub has a
-trusted relationship with the relay chain, and as such, can teleport the relay chain's native token
-between itself and the relay chain. That is, the native token on the relay chain is just as good on
-Asset Hub.
-
-The Asset Hub does not support smart contracts. See the [Advanced](#advanced-techniques) section at
-the bottom for a discussion on using proxy and multisig accounts to replicate oft-used contract
-logic.
+[Asset Hub system parachain](.learn-system-chains.md) hosts the data structures and runtime logic for the creation, management, and use of assets in the Polkadot network.  Note that assets are not hosted on the Relay Chain - they exist only on the Asset Hub. Other parachains can interact with these assets, but the Asset Hub functions as the trusted “home base” for all asset-related activity across the network.
+
 
 ## Sufficient Assets
 

docs/learn/learn-system-chains.md

@@ -1,12 +1,12 @@
 ---
 title: System Chains
-description: System parachains on Polkadot offload core functionalities like governance, assets, and bridging from the relay chain for better performance.
+description: System parachains on Polkadot offload core functionalities such as governance, balances, transfers, and bridging from the relay chain for better performance.
 ---
 
 !!! info "Information about Polkadot's system chains is also available on the [Polkadot Developer Documentation](https://docs.polkadot.com/polkadot-protocol/architecture/system-chains/)"
 
 The primary functionality of the relay chain is to secure the parachains and facilitate secure
-communication between them. All other functionalities like asset transfers, governance, identities
+communication between them. All other functionalities such as asset transfers, governance, identities
 and bridging (a potentially resource intensive task) can benefit from operating separately on system
 chains. System chains are responsible for delegating functionality away from the relay chain for
 peformance reasons, taking advantage of the inherent parallelization the architecture of Polkadot
@@ -40,21 +40,17 @@ KSM. In fact, there will likely be a system parachain specifically for network g
     The [Asset Hub](https://github.com/paritytech/polkadot-sdk/tree/master/cumulus#asset-hub-) on both
     Polkadot and Kusama are the first system parachains.
 
-    The Asset Hub is an asset portal for the entire network. It helps asset creators (e.g. reserve
-    backed stablecoin issuers) to track the total issuance of their asset in the network, including
-    amounts that have been transferred to other parachains. It is also the point where they can
-    transact, to mint and burn, to manage the on-chain asset.
+    The Asset Hub was initially designed as an asset portal for the Polkadot network. Over time, its role expanded, and it has evolved into the primary technical host for most user-facing functionalities within the ecosystem.
 
-    The Asset Hub also supports non-fungible assets (NFTs) via the
-    [Uniques pallet](https://polkadot.js.org/docs/substrate/extrinsics#uniques) and the [nfts pallet](https://polkadot.js.org/docs/substrate/extrinsics#nfts). For more information about
-    NFTs see the [dedicated wiki page](./learn-nft-pallets.md).
+    When users interact with Polkadot - such as creating an account, transferring tokens, or staking - they are, in practice, interacting with the Asset Hub. Although this is abstracted away in most wallets and interfaces, the underlying account data, balances, and staking mechanisms are managed by Asset Hub. It serves as the operational backbone for these activities, even if users are not directly aware of it.
 
-    This logic for asset management is not encoded in smart contracts, but rather directly in the
-    runtime of the chain. Because of the efficiency of executing logic in a parachain, fees and deposits
-    are about 1/10th of their respective value on the relay chain.
+    Core functionalities such as balances, transfers, staking, and asset management are executed on Asset Hub. Users can also issue and manage their own assets, including non-fungible tokens (NFTs), directly on the network.
 
-    These low fee levels mean that the Asset Hub is well suited for handling balances and transfers as
-    well as managing on-chain assets.
+    The Asset Hub provides tools for asset creators, such as reserve-backed stablecoin issuers, to monitor the total issuance of their assets across the entire network, including amounts transferred to other parachains. It also enables them to perform on-chain actions such as minting, burning, and asset administration.
+
+    In the future the Asset Hub is expected to be upgraded to support [smart contracts](/learn/learn-smart-contracts.md). This upgrade will extend its role beyond native runtime logic, enabling developers to deploy and interact with smart contracts directly on the Asset Hub in Solidity and Rust. 
+
+    Unlike smart contract-based systems, asset management, staking and transfer logic on Asset Hub is embedded directly in the chain’s runtime. Due to the efficiency of parachain execution, transaction fees and required deposits are approximately one-tenth of those on the relay chain. 
 
     ### Collectives