Sisu Network Bridge: A secure and user-friendly bridge for seamless cross-chain asset transfers on Cardano

[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)

5

[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.” .

No dependencies.

[GENERAL] Will your project’s output/s 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.”

Project will be fully open source.

[METADATA] Category of Proposal

dApp

[METADATA] SDG rating

This proposal is linked with the SDG 9: Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.

[IMPACT] Please describe your proposed solution.

Market Research and Approach Reasons for Sisu Network

Sisu Network is a decentralized bridge solution that addresses the market demand for efficient cross-chain asset transfers. Our research identified key needs within the blockchain industry:

1. Market Demand: Users and developers expressed the need for a reliable bridge solution that enables interoperability between Cardano and other EVM-based chains such as Ethereum, Polygon, Fantom, BSC, and more.

2. User-Friendly Experience: Existing bridge solutions often suffer from complex interfaces and high fees.

3. Transaction Security and Cost Efficiency: Our solution utilizes Threshold Signatures to enhance security and reduce the risk of single points of failure.

4. Seamless Swaps with No Slippage: We aim to provide a bridge solution that offers seamless token swaps without slippage.

The Uniqueness of this Solution

We build a secure, easy-to-use decentralized bridge using Threshold Signatures. No unique private keys, cheap tx fees, no slippage on swaps.

1. Blockchain Privacy: Privacy is crucial in blockchain to protect sensitive information and maintain confidentiality. It ensures that transaction details and personal identities are not easily accessible, reducing the risk of fraud and enhancing trust in the ecosystem.
2. Threshold Signature Scheme: Sisu Network utilizes a threshold signature scheme (TSS) for transaction signin. TSS involves breaking a single private key into multiple parts held by different validators. This approach ensures that a transaction can only be signed when a specific number of validators participate, enhancing security while minimizing transaction costs.
3. Zero-Knowledge ZK SNARK: Zero-knowledge proofs, specifically zk-SNARKs, are employed to validate transactions without revealing detailed information about the transaction itself. By utilizing zk-SNARKs, Sisu Network ensures a high level of privacy for users, allowing them to perform transactions on a public blockchain without exposing sensitive details.
4. Token Swap & Wrapped Token Approach: Token swapping across chains is a common use case for bridges. Sisu Network implements a wrapped token approach, where tokens are mapped from one chain to another through a 1:1 ratio. This approach offers predictability, eliminates slippage and impermanent loss, and simplifies the tracking of transactions. However, it requires the presence of an ERC20 (or equivalent) contract on each chain.

By integrating these features into the Sisu Network Bridge, the proposed solution offers secure, cost-effective, and user-friendly cross-chain transactions between Cardano and other EVM-based chains. It leverages the benefits of Cardano's Layer 2 scaling solution, reducing costs, improving security, promoting developer and user adoption, enabling cross-chain interoperability, and facilitating access to EVM-compatible applications on the Cardano ecosystem.

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

The benefits of Sisu Network to the Cardano ecosystem, specifically the Challenge Product & Integrations are as follows:

1. Expanded Use Cases: The ability to seamlessly transfer assets between Cardano and other EVM-based chains unlocks new use cases and opportunities for user
2. Increased Product Availability: Sisu Network contributes to the goal of increasing the number of products available for community use within the Cardano ecosystem
3. Enhanced User Experience: Integrating different blockchain networks through Sisu Network results in a more seamless and connected experience for user
4. Improved Product Quality: The Sisu Network solution continuously strives to enhance the quality of existing products and integrations by incorporating improvements and new functionality.
5. Increase Cardano user adoption: Over 40,000 users on Discord, 40,000 users on Twitter, and more than 100,000 across all platforms and channels of Sisu Network will join Cardan

Importance to Cardano

The following are the key reasons why our solution is crucial for the growth and success of Cardano:

1. Reduced Costs: By reducing transaction fees and gas costs, our bridge solution makes it more affordable for users to interact with the Cardano ecosystem.

2. Increased Developer and User Adoption: Our solution's familiar development environment, supporting Solidity-based smart contract development, broadens the pool of developers who can build applications on Cardano.

3. Improved Cross-Chain Interoperability: The Sisu Network bridge solution acts as a gateway between Cardano and other Layer 1 blockchains, enabling seamless communication and value transfer.

4. Simplified Onboarding: Our bridge solution allows users to access and use EVM-compatible applications on Cardano without the need to switch networks or wallets.

5. Enhanced Security: Leveraging Cardano's robust security model, our bridge solution ensures that Layer 2 transactions maintain a high level of security and integrity.

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

To assess the success and impact of the Sisu Network testnet project on Cardano, we employ a comprehensive evaluation framework using quantitative and qualitative indicators. Key measurements include:

1.User Adoption and Activity:

- Currently, we have 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 platforms and channels of Sisu. These users will use Cardano network after the successful bridge. 

- Transaction volume and growth rate: Steady monthly growth rate of 10%.

- User retention rate: Over 80% within the first six months of launch.

- User satisfaction surveys and feedback: Positive feedback on functionality and ease of use.

2. Developer Engagement and Innovation:

- Developers actively building on the testnet: Over 500 developers contributing to the platform's development.

- Engagement with developer communities and forums: Active participation in forums, Discord channels, and meetups.

- Developer feedback: Positive opinions on integration ease, documentation quality, and the supportive developer community.

3. Partnerships and Integrations:

- Number and significance of partnerships within the Cardano ecosystem: Collaborations with major DeFi platforms and cross-chain communication protocols.

- Collaborative initiatives and joint development efforts: Driving collaboration and growth within the ecosystem.

- Integration with existing Cardano infrastructure: Seamless integration with wallets, dApps, and other ecosystem components.

4. Economic Impact:

- Reduction in transaction costs and fees: Users experience an average 30% reduction compared to traditional cross-chain solutions.

- Improved efficiency and scalability: Faster and more efficient cross-chain transactions.

- Economic benefits for users and businesses: Increased liquidity, improved asset transfers, and expanded market opportunities.

5. User Experience and Satisfaction:

- User satisfaction surveys: Consistently high levels of satisfaction with an average score of 4.5 out of 5.

- Assessment of ease of use and accessibility: Positive feedback on user-friendly interface, intuitive navigation, and seamless asset transfers.

- Comparison of user opinions: Shift in perception with 90% now viewing Cardano as highly interoperable.

6. Long-Term Growth Potential:

- Projected user and developer growth: Expected additional 100,000 users and 1,000 developers within the next 12 months.

- Impact on Cardano's growth and adoption: Estimated 20% increase in overall Cardano user base attributed to the testnet.

- Scalability and viability for future applications: Validated through stress testing and simulation exercises.

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

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 at https://sisu.network/

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

1. Expertise in Blockchain Technology: Our team members have extensive experience and expertise in blockchain technolog
2. Proven Track Record: Our team members have a strong track record of delivering successful blockchain project
3. Anonymity and Transparency: While our core team members prefer to remain anonymous, we maintain transparency through open-source development practice
4. Financial Management and Accountability: We prioritize responsible financial management to ensure the proper allocation and utilization of fund
5. Strong Partnerships and Collaboration: We actively seek partnerships and collaboration within the Cardano ecosystem.
6. Security and Risk Mitigation: We prioritize the security of the project and the protection of participants' asset
7. Regular Progress Updates: We prioritize regular communication and progress updates to keep stakeholders informed about the project's developmen
8. Community Engagement: We actively engage with the community to gather feedback, address concerns, and incorporate valuable insights into the project's development.
9. Code Audits and Peer Review: To enhance the project's integrity and security, we engage external code auditors and encourage peer review of our codebase
10. User Support and Documentation: We prioritize user support by providing comprehensive documentation, tutorials, and resources to help users navigate the Sisu Network platform.

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

Sisu network main goals are as follows:

1. Cross-Chain Interoperability: Our primary objective is to establish a robust cross-chain interoperability solution, enabling seamless token transfers between Cardano and other blockchain network
2. Expanded Chain Support: We intend to expand the number of supported chains on the Sisu Networ
3. Security and Reliability: Ensuring the security and reliability of the Sisu Network is crucia
4. User Experience: Improving the user experience is a key objective for u

To validate our approach, we will employ the following methods:

1. Technical Prototyping and Testing: We will conduct thorough technical prototyping and testing to validate the feasibility and functionality of our cross-chain interoperability solution
2. Security Audits and Penetration Testing: We will engage third-party security firms to conduct comprehensive security audits and penetration testing of the Sisu Network.
3. 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.
4. Continuous Iteration and Improvement: We will iterate and improve the Sisu Network based on user feedback, technological advancements, and evolving industry standards.

[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.

Currently, the Sisu Network's testnet supports the following chains: Cardano, Ethereum, Polygon, Fantom, Binance Smart Chain, Solana, Moonbeam, Avalanche C chain, Cronos chain

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 can be implemented:

Milestone 1: Research and Planning (Month 1)

• Conduct comprehensive analysis of technical specifications and integration requirements with Cardano
• Identify potential challenges and risks associated with the integration
• Formulate a detailed plan outlining necessary steps and resources

Milestone 2: Development and Integration (Months 2 +3)

• Allocate development resources and establish a dedicated team
• Collaborate with Sisu Network's development team for seamless integration with Cardano
• Develop protocols, smart contracts, and APIs for Layer 2 solution
• Perform testing and debugging to ensure stability and security

Milestone 3: Security Audits and Testing (Months 4)

• Conduct rigorous security audits of the integrated Sisu Network solution
• Engage third-party security firms for comprehensive penetration testing and code reviews
• Address vulnerabilities or weaknesses identified during security audits

Milestone 4: Pilot Deployment (Months 5)

• Engage in community outreach and develop support resources for pilot deployment phase
• Monitor performance of integrated solution and gather user feedback
• Refine and improve the platform based on user feedback and insights

[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

• Deliverables:

  - Comprehensive analysis report of technical specifications and integration requirements with Cardano.

  - Detailed plan outlining necessary steps, resources, and timelines for the project.

• Outputs:

  - Research report providing insights into the technical aspects and requirements of integrating Sisu Network with Cardano.

  - Detailed plan with clear steps and resources needed for successful implementation.

Milestone 2: Development and Integration

• Deliverables:

  - Developed protocols, smart contracts, and APIs for the Layer 2 solution.

  - Integration codebase and documentation outlining the step-by-step process for integrating Sisu Network with Cardano.

  - Testing reports capturing identified issues or bugs during the development and integration phase, along with their resolutions.

• Outputs:

  - Functional Layer 2 solution integrated with Cardano, enabling cross-chain token swaps.

  - Comprehensive documentation providing guidance on how to utilize the integrated solution effectively.

  - Testing reports with resolved issues, ensuring the stability and security of the solution.

Milestone 3: Security Audits and Testing

• Deliverables:

  - Security audit reports evaluating the integrated Sisu Network solution.

  - Penetration testing reports and code review results to identify vulnerabilities.

  - Documented vulnerabilities and their resolutions to address security concerns.

• Outputs:

  - Reports on security audit findings, highlighting vulnerabilities and providing recommendations for improvement.

  - Documentation outlining the identified vulnerabilities and the corresponding resolutions.

Milestone 4: Pilot Deployment

• Deliverables:

  - User engagement and support resources, including community outreach activities, documentation, and tutorials.

  - Mechanisms for gathering user feedback during the pilot deployment phase.

• Outputs:

  - Increased user engagement and participation in the pilot deployment.

  - Positive feedback and user satisfaction with the integrated solution.

  - Refined platform based on user feedback and insights.

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

Total proposal cost: 75000$ for 1812 working hours

Cost per hour: 41$

• (*) 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
• Contingency planning 5% = 12500 ADA (risk for the ADA price fluctuation during the project implementation.)

Total Budget requested: 262500 ADA

[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