Sisu Bridge Explorer: A Cross-Chain Bridge Explorer for ADA and EVM Chains to enable seamless Token Transfers

[GENERAL] Name and Surname of Main Applicant

Billy Pham

[GENERAL] Email address of Main Applicant

sisu.team2020@gmail.com

Additional Applicants

1. Huy Nguyen (engineer)
2. Dat Le (engineer)
3. Steven Nguyen (marketing lead)

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

4

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.

No

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.” in this field.

No dependencies.

[GENERAL] Will your project outputs be fully Open Source?

Yes

[GENERAL] If NO, please describe which outputs are not going to be open source. If YES, please write “Project will be fully open source.” in this field.

Project will be fully open source.

[METADATA] Category of Proposal

Explorers

[METADATA] SDG rating

This proposal is related to SDG 9: Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation

[IMPACT] Please describe your proposed solution.

Market Research:

Through extensive market research, we have identified a growing demand for traceability solutions in the realm of cross-chain token transfers. The interoperability between EVM chains and Cardano L2 has gained significant traction, leading to an increased need for transparent and reliable tools to track token movements.

Our Solution:

The Sisu Network token bridge explorer is a direct response to this market demand. It is a web platform that leverages blockchain technology to provide comprehensive traceability for token transfers between EVM chains and Cardano L2. Our solution offers real-time tracking, detailed transaction information, and user-friendly features to ensure a seamless experience.

Project End-Users Aim:

Our solution caters to a wide range of end-users, including individual token holders, decentralized applications (dApps), cryptocurrency exchanges, and institutional investors. These stakeholders require a trusted and transparent tool to monitor and verify token transfers across different blockchains.

Project Demonstrate Outcomes:

1. Enhanced Trust: By offering a transparent record of token transfers, our solution boosts trust and confidence among users engaging in cross-chain transactions.

2. Improved Efficiency: The Sisu Network token bridge explorer streamlines the monitoring and tracking of token movements.

3. Facilitated Compliance: Regulatory compliance is a critical aspect of the cryptocurrency ecosystem.

The Uniqueness of This Solution:

What sets our solution apart is its ability to bridge the gap between EVM chains and Cardano L2, offering a comprehensive and user-friendly platform dedicated to cross-chain token traceability. While blockchain explorers exist for individual chains, our solution supports two different chains, catering to the specific needs of users engaging in cross-chain transactions.

Importance to Cardano:

For Cardano, our solution plays a pivotal role in strengthening its position as a leading blockchain platform. By providing robust traceability for tokens transferred between EVM chains and Cardano L2, we enhance Cardano's interoperability capabilities. This promotes seamless integration with other blockchain ecosystems and attracts more users and projects to the Cardano network. Additionally, our solution aligns with Cardano's commitment to transparency, security, and efficiency, reinforcing its reputation as a reliable and innovative blockchain platform.

[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

This Proposal Targets the Goal of the Challenge:

The Sisu Network token bridge explorer effectively addresses the challenge of traceability in token transfers between EVM chains and Cardano L2. Our web platform is specifically designed to bridge the gap between these two blockchain ecosystems, providing a comprehensive solution for cross-chain token tracking and verification.

Impact of Our Proposal on the Cardano Ecosystem:

1. Enhanced Interoperability: Our solution promotes seamless interoperability between EVM chains and Cardano L2
2. Increased Adoption: The Sisu Network token bridge explorer attracts more users, projects, and liquidity to the Cardano ecosystem
3. Reinforced Reputation: Our solution aligns with Cardano's commitment to transparency, security, and efficiency. By providing a trustworthy tool for traceability in cross-chain transactions, we reinforce Cardano's reputation as a reliable and innovative blockchain platform. This fosters trust among users and enhances the ecosystem's credibility, attracting more stakeholders to participate in the Cardano ecosystem.

The Value Our Proposal Brings to the Cardano Ecosystem:

1. Trust and Security: The Sisu Network token bridge explorer ensures trust and security within the Cardano ecosystem
2. Improved User Experience: Our user-friendly web platform offers a seamless and intuitive experience for user
3. Regulatory Compliance: Our solution assists participants in meeting regulatory compliance requirements. By providing transparent traceability of token transfers, the Sisu Network token bridge explorer aids in anti-money laundering (AML) and know-your-customer (KYC) efforts. This ensures that participants in the Cardano ecosystem can adhere to regulatory standards and maintain a compliant environment.
4. Catalyst for Innovation: By enabling cross-chain token transfers, our solution acts as a catalyst for innovation within the Cardano ecosystem. It encourages the development of new cross-chain applications, services, and decentralized finance (DeFi) solutions. This fosters a vibrant ecosystem where different blockchain networks collaborate and share resources, driving the growth and advancement of the Cardano platform.

[IMPACT] How do you intend to measure the success of your project?

Quantitative/Qualitative Indicators to Measure Project Success:

1. Transaction Volume: The success of the Sisu Network token bridge explorer can be measured by monitoring the total transaction volume facilitated through the platform. Increasing transaction volumes over time indicate the growing adoption and utilization of the token bridge for cross-chain transfers. By setting targets and tracking transaction volumes, we can assess the project's success.

2. User Engagement: Measuring user engagement metrics provides insights into the effectiveness and popularity of the Sisu Network token bridge explorer. Key indicators include the number of active users, average session duration, and frequency of platform usage. Higher user engagement signifies a successful project that is meeting the needs of its users. As far as active users on the Sisu Network testnet: Over 40,000 users on Discord, 40,000 users on Twitter, and more than 100,000 across all Sisu platforms and channels.

Impact on Cardano growth:

1. Increased Cross-Chain Transactions: The successful implementation of the token bridge explorer will lead to an immediate increase in cross-chain transactions within the Cardano ecosystem. This increased activity enhances Cardano's productivity as users gain access to a wider range of opportunities and can leverage assets from different blockchain networks.

2. Expanded Developer Community: A successful token bridge explorer attracts developers and projects interested in leveraging the benefits of cross-chain interoperability. As more developers join the Cardano ecosystem to build applications and services that utilize the token bridge, productivity increases through innovation, collaboration, and the sharing of knowledge and resources.

3. Improved Network Efficiency: With a reliable and efficient token bridge explorer in place, Cardano's ecosystem operates more smoothly. Transactions between EVM chains and Cardano L2 become faster and more secure, reducing friction and enhancing network efficiency. This improved efficiency directly contributes to increased productivity and growth in the short term.

[IMPACT] Please describe your plans to share the outputs and results of your project?

Milestone 1: Project Initiation and Research (Month 1)

Outputs:

• Establish a project team with defined roles and responsibilities.
• Conduct comprehensive review of existing cross-chain token bridge solutions.

Results:

• Clear understanding of project goals and objectives.
• Solid foundation for project execution.
• Alignment of team members and stakeholders on project expectations.

Milestone 2: Design and Architecture (Month 2)

Outputs:

• Define an architectural framework for the token bridge explorer.
• Develop front-end components and initial back-end infrastructure.

Results:

• Established architecture ensuring scalability, security, and interoperability.
• User-friendly and intuitive design for the platform.
• Basis for further development and implementation.

Milestone 3: Development and Testing (Months 3-4)

Outputs:

• Implement core functionalities of the Sisu Network token bridge explorer.
• Develop smart contracts for cross-chain transfers.
• Test and debug the platform for stability and reliability.
• Integrate necessary security protocols and measures.

Results:

• Functional token bridge explorer enabling traceability of cross-chain token transfers.
• Smart contracts facilitating seamless transfers between EVM chains and Cardano L2.
• Stable and secure platform ready for integration and testing.

Currently, the Sisu Network's testnet supports the following chains:

• Cardano,
• Ethereum,
• Polygon,
• Fantom,
• Binance Smart Chain,
• Solana,
• Moonbeam,
• Avalanche C chain,
• Cronos chain.
• 
  

Important note: an implementation of this proposed solution is live and running in Sisu testnet. Users can move test ERC20 tokens between EVM-based chains (eth, polygon, fantom, Bsc, etc) to Cardano and vice versa through a user-friendly DEX https://app.ko.exchange/.

To deliver the proposed integration of Sisu Network as a Layer 2 solution for Cardano, the following detailed plan with a timeline and key milestones in the follow-up FEASIBILITY and finally shared explorer at https://sisu.network/

[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?

The Sisu Network team possesses the necessary abilities and experience to successfully implement the Sisu Network token bridge explorer project with high levels of trust and accountability.

1. Technical Proficiency: Our team consists of highly skilled and experienced professionals with a strong background in blockchain technology, software development, and smart contract programming
2. Cross-Chain Expertise: We have extensive experience in working with cross-chain solutions and interoperability protocol
3. Security and Auditing: We prioritize security throughout the development proces
4. Previous Successful Projects: Our team has a track record of delivering successful blockchain project
5. Financial Management Process: To ensure transparency, accountability, and responsible financial management throughout the project, we adhere to a well-defined financial management process.

[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?

Main Goal:

The primary goal of the Sisu Network token bridge explorer is to enable full traceability of assets when they move from one blockchain network to another. It aims to provide a transparent and reliable solution for tracking and verifying token transfers between different chains, specifically focusing on facilitating seamless traceability from EVM chains to Cardano L2 and vice versa.

How to Verify the Goal Has Been Achieved:

1. Functionality and Performance Testing: Rigorous testing of the Sisu Network token bridge explorer's functionality and performance will be conducted
2. User Feedback and Satisfaction: Leveraging the active Sisu Network community with over 40,000 users on Discord and Twitter, the team will actively seek user feedback and assess user satisfaction.
3. Adoption and Integration: The number of projects, dApps, and exchanges integrating with the Sisu Network token bridge explorer will serve as a key indicator of its feasibility and value within the Cardano ecosystem
4. Real-Time Tracking and Transparency: The accuracy and transparency of the token bridge explorer's real-time tracking capabilities will be verified by conducting audits and verifications of token transfer
5. Community Validation: Engaging the Sisu Network community, particularly the advanced and experienced engineers, will provide valuable validation of the project's feasibility within the Cardano ecosystem.

[CAPABILITY/ FEASIBILITY] Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Milestone 1: Research and Planning (Month 1)

• Review existing cross-chain token bridge explorer solutions and Cardano ecosystem requirements.
• Define technical specifications and project plan.

Milestone 2: Architecture, Design, and Core Development (Months 2-3)

• Develop an architectural framework for the token bridge explorer with a focus on traceability and security.
• Design UI/UX for intuitive asset tracking and create wireframes and mockups.
• Implement core functionalities for tracking and verifying asset transfers.
• Develop smart contracts for secure cross-chain transfers and perform testing.

Milestone 3: Integration, Testing, and Launch (Month 4)

• Integrate the token bridge explorer with blockchain networks and conduct rigorous testing.
• Collaborate with third-party projects and exchanges for smooth integration.
• Refine UI/UX based on feedback, create technical documentation.
• Deploy to a production environment, conduct final testing and quality assurance.
• Coordinate marketing efforts for awareness and adoption.

[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.

Thank to the support of Cardano Ambassador Mr. Yuta, we provide the SOM in advance:

• to ensure transparency and clarity of the plan as per Catalyst Fund 10 new guideline,
• to make it clear for Community Reviewer (CR)
• to comment that we % of complete always greater than % of cost needed for each milestone.

Link SOM guideline

Milestone 1: Research and Planning (Month 1)

Deliverables:

  - Review report on existing cross-chain token bridge solutions, including their features, limitations, and compatibility with Cardano ecosystem requirements.

  - Technical specifications document outlining the architecture, protocols, and standards for the token bridge explorer.

  - Project plan with detailed timelines, milestones, and resource allocation.

Outputs:

  - In-depth understanding of existing cross-chain token bridge solutions and their applicability to Cardano.

  - Clear technical specifications to guide the development process.

  - Project plan that serves as a roadmap for the subsequent milestones.

Intended outcomes:

  - Well-informed decision-making on the choice of cross-chain token bridge solution.

  - Alignment of project goals and technical requirements.

  - Defined project scope and direction for successful execution.

Milestone 2: Architecture, Design, and Core Development (Months 2-3)

Deliverables:

  - Architectural framework document outlining the high-level structure and components of the token bridge explorer.

  - UI/UX designs, wireframes, and mockups illustrating the user interface and asset tracking functionalities.

  - Implemented core functionalities for tracking and verifying asset transfers within the token bridge explorer.

  - Smart contracts developed and tested for secure cross-chain transfers.

Outputs:

  - Well-defined architecture to guide the development process.

  - Visual representation of the user interface and user experience.

  - Functional token bridge explorer with tracking and verification capabilities.

  - Secure and tested smart contracts for cross-chain transfers.

Intended outcomes:

  - Established foundation for the token bridge explorer's development.

  - Clear visualization of the user interface for intuitive asset tracking.

  - Functional and secure asset transfer mechanisms between different blockchains.

Milestone 3: Integration, Testing, and Launch (Month 4)

Deliverables:

  - Integrated token bridge explorer with relevant blockchain networks and thorough testing documentation.

  - Collaborative integration with third-party projects and exchanges, with documented procedures and outcomes.

  - Refined UI/UX based on feedback received during testing and integration phases.

  - Technical documentation providing comprehensive information on the token bridge explorer's implementation and usage.

  - Deployed token bridge explorer in a production environment, along with final testing and quality assurance reports.

  - Marketing efforts coordinated for awareness and adoption of the token bridge explorer.

Outputs:

  - Fully integrated token bridge explorer with seamless connectivity to blockchain networks.

  - Successful collaborations with third-party projects and exchanges, enabling smooth interoperability.

  - Enhanced user interface based on user feedback and usability testing.

  - Detailed technical documentation for developers and users.

  - Deployed token bridge explorer in a stable production environment, ready for use.

  - Coordinated marketing strategies to generate awareness and encourage adoption.

Intended outcomes:

  - Functional and interoperable token bridge explorer connecting multiple blockchain networks.

  - Well-documented technical resources for seamless integration and utilization.

  - Stable and reliable deployment of the token bridge explorer in a production environment.

  - Increased awareness, usage, and adoption of the token bridge explorer.

[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.

(*) We estimated ADA at 0.3 ADA/USD; which is higher than the current price at the date of the proposal submission at 0.29 ADA/USD

• For contingency planning 5% = 12500 ADA (risk for the ADA price fluctuation during the project implementation.)
• Total Budget request: 105000 ADA for 750 working hours
• Cost per hour: 40$

[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The value of the project is also considered low compared to the cost of the seniority of the engineers in the team. The cost of the Sisu Network project represents value for money for the Cardano ecosystem through several factors. 

1. Alignment with Strategic Goals: The project's objectives and deliverables align with the strategic goals of the Cardano ecosystem, such as improving interoperability and expanding its user base
2. Expertise and Experience: The project team, led by Billy Pham and supported by Steven Nguyen, possesses extensive experience in the blockchain industry and a deep understanding of the Cardano ecosystem
3. Comprehensive Planning and Budgeting: The project's budget has been meticulously planned and allocated to ensure that resources are utilized effectively and efficiently
4. Impactful Deliverables: The project aims to deliver tangible outcomes that benefit the Cardano ecosystem
5. Measurement of Progress and Success: The project team has established clear success criteria and performance indicators for each milestone. These metrics will be used to track the progress and evaluate the success of the project.

Value for money: The cost of the project is also considered low compared to the cost of the seniority of the engineers in the team. which is much cheaper than average engineer salary in Silicon Valley

Our dev team is based on Silicon valley. The average salaries of product designers ($72 per hour), developers ($68 per hour), and product managers ($65 per hour) are quite high (the detail table as below.) However, we budgeted salaries of $40 per hour, which is 40% value for money for the Cardano Ecosystem.

• Senior Product Manager: $65/hour https://www.ziprecruiter.com/Salaries/Senior-Product-Manager-Salary
• Senior Software Engineer: $68/hour https://www.ziprecruiter.com/Salaries/Senior-Software-Engineer-Salary-per-Hour
• Senior Product Designer: $72/ hourhttps://www.ziprecruiter.com/Salaries/Senior-Product-Designer-Salary-per-Hour

[IMPORTANT NOTE] The Applicant agreed to Fund10 rules and also that data in the Submission Form and other data provided by the project team during the course of the project will be publicly available.

I Accept