CHARLI3: Self-Service Pull Based Oracle Platform with Open-Source SDK

[GENERAL] Name and surname of main applicant

Robert Hever

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

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

8

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

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

An automated self-service system that enables builders to request, launch, and integrate a pull-based oracle feed for any permutation of CNT price pair available on Cardano DEXs in minutes.

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

Yes

[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.”

Charli3 has a core development team, most from 2021, that can deliver this project independently. That said, we work with numerous contractors in the space and are currently engaged with Anastasia Labs, Metalamp.io, Txpipe, and George Flevorsky as an independent contractor. We will likely leverage developer talent from one of those labs, but for the front-end work on this project go with a more generic and cheaper web2 development contractor team. That said, we do have an in-house full stack developer.

[GENERAL] Will your project’s output/s be fully open source?

No

[GENERAL] Please provide here more information on the open source status of your project outputs

This is partially open-sourced. Arguably closer to the fully open-sourced side of the spectrum.

• The plan is to complete an open-sourced SDK for users to make requests to our close-sourced Charli3 back-end architecture (closed for security reasons mostly). (Main deliverable for this project)
• The Charli3 Dendrite Dex Aggregator solution that will be leveraged to consume DEX pool and CNT pricing data is already open sourced with a MIT license.
• The front-end will have a solution that takes user input (e.g. selecting a price pair from a catalogue of available permutations) and output a configuration file to use with the SDK to start integrating the feed in minutes. The solution that takes input and provides a configuration file is likely to be open-sourced unless we see a security reason why we shouldn't
• The Node Software is planned to be open-sourced before the start of the project (not a deliverable)
• The Node Back-end is closed sourced to protect our IP (enhancements are made during this project)

Licenses are TBD, but we are likely going with MIT again.

[METADATA] Horizons

Oracles

[SOLUTION] Please describe your proposed solution

HIGH LEVEL INTRODUCTION

We propose to develop a fully automated, self-service, scalable pull-based oracle solution that enables Cardano builders to integrate CNT price pair data into their DApps within minutes. This solution leverages our existing Charli3 Dendrite DEX aggregator and enhances it with a user-friendly interface and robust backend architecture.

User Story

As an end-user,

1. I want to be able to go to a front-end landing page on Charli3.io and view a catalogue of available data feeds. We will support almost every possible permutation of CNTs available on the major Cardano DEXs including pairs that aren't listed like (WMT/SNEK).
2. I want to have clear and transparent pricing information and documentation on the architecture. We are in the process of open-sourcing many parts of our solution and pricing will be transparently displayed for users.
3. I want to select the price pair(s) to integrate into my protocol and only pay when I want the data. In under a minute, I select the kind of feed I want and I will instantly receive a specific configuration file and steps to download/use an Open Sourced SDK.
4. After downloading the SDK and following simple steps, I can use the configuration file to immediately start consuming a price feed. There will be no need to talk with Charli3, sign any contracts, nor wait for a network / data feed to launch. (!!!!)
5. Use Charli3 price feed only when I want and pay only when I use it with clear transparent pricing given at the start.
6. I want to access the same front-end to add new pairs and modify existing pairs without interacting with the Charli3 team and can easily repeat the previous steps to do so.

Key Components of the solution:

• Self-Service Backend Architecture:
• Refactoring of current pull-based Oracle architecture to handle on-demand deployment requests for new price pairs
• Integration and optimization of Charli3 Dendrite for efficient single-pair and multi-pair data retrieval
• Implementation of a redeemer-based approach to significantly reduce on-chain costs
• Development of a scalable node network capable of handling hundreds of requests per minute
• User-Friendly Frontend Interface:
• Web-based catalog of all available CNT price pairs
• Intuitive selection process for users to choose desired price pairs
• Automated documentation generation for integration steps
• Transparent pricing and usage statistics
• Open-Source SDK:
• Development of a comprehensive SDK for easy integration into DApps
• Support for multiple Cardano client frameworks (e.g., lucid-evolution, blaze, mesh-js, ctl)
• Extensive documentation and usage examples
• Scaling and Optimization:
• Implementation of metadata-based UTXO distinction for efficient multi-pair handling
• Optimization of node software to process multiple simultaneous requests
• Development of load balancing and failover mechanisms for high availability

Technical Innovation:

Our solution introduces several key innovations.

1. On-Demand Price Pair Creation: Unlike traditional oracle services, our system can dynamically create and serve new price pairs as requested, without manual intervention.
2. Efficient Multi-Pair Handling: By optimizing our backend to handle multiple price pairs simultaneously, we significantly reduce infrastructure costs and improve response times.
3. Redeemer-Based Cost Reduction: Our novel approach using redeemers for data requests will substantially lower on-chain costs for DApp developers.
4. Scalable Node Network: Our enhanced node software will be capable of handling hundreds of requests per minute, ensuring high performance even under peak load.

Foundations for the project:

Project 1100090: Charli3 Pull based oracle functionality

• Enables users to request data and a network puts it on-chain
• Limitations: Charli3 needs to set up a network for every price pair, Projects need to contract with Charli3 and agree on pricing and SLA terms, teams need to work with Charli3 to modify data feeds, it is not set up to scale/handle 100s of requests at once

Project 1100093: Charli3 Dendrite - Open source Pythonic Dex Aggregator

• Allows users to use the solution to extract raw data on liquidity pools and trading activity on most Cardano DEXs
• Limitations: Charli3 Dendrite is a powerful tool, but does not come configured out of the box for this use case. As a data sourcing tool, it is not optimized for one node network to source all CNT price pairs. The team will need to restructure a network to use the tooling effectively for the intended purposes of this project.

SOLUTION IMPLEMENTATION PLAN

1 Backend Development (18 weeks):

• Rebuild pull-based oracle architecture
• Building the Network Architecture: 
• Establish a mechanism for identifying one price pair request from others and establishing a network ready state for supplying that response to the user
• Distinguish which UTXO belongs to which feed via metadata, asset minting, or another suitable solution
• Optimise current architecture to a redeemer-based approach to significantly lower consumer costs
• Integrate and optimize Charli3 Dendrite
• Implement redeemer-based approach
• Develop scalable node network
• Restructuring the Node Back-end architecture:
• Implement dynamic handling of price pair requests without pre-configuration
• Ability to handle a sufficient number of feed pair requests and respond to them in an acceptable time frame / Enhance the backend to efficiently manage concurrent requests and maintain performance under varying loads
• Develop and optimise the backend to handle high traffic and extreme price volatility, ensuring that the oracle services remain stable and reliable during peak demand.

Note:

For scaling, the challenge we have to overcome is handling multiple calls from hundreds if not thousands of consumers and to avoid possible DDOS attacks. A significant amount of the developer hours will be spent on this step.

2 Frontend Development (5 weeks):

• Utilise one of the available Cardano frameworks (Lucid-Evolution (TS), Blaze (TS), Mesh-js (TS), CTL (Purescript)) to streamline development and integration.
• Include practical documentation ensuring ease of SDK integration and deployment.
• Build out the front-end to include a catalogue of all supported CNT price pairs as a menu for users to select as input for the back-end architecture
• Implement automated configuration generation tool
• Include practical documentation ensuring ease of SDK integration and deployment
• Pricing information
• SDK documentation
• Steps for using configuration generation tool

3 SDK Development (4 weeks):

• Create core SDK functionalities
• Implement support for multiple Cardano client frameworks
• Develop comprehensive documentation and examples

4 Testing and Optimization (6 weeks):

• Conduct thorough testing of all components
• Perform load testing and optimize for high concurrency
• Refine user experience based on feedback

5 Deployment and Launch (2 weeks):

• Deploy backend infrastructure
• Launch public-facing frontend
• Release open-source SDK

OUT OF SCOPE FUTURE ENHANCEMENTS

• Non CNT price pairs. We will only provide CNT price pairs supported by Charli3 Dendrite. This should encompass almost any price pair available on a major Cardano DEX and permutations of those feeds. We will provide non-cnt price pairs in this service as a future enhancement (e.g. btc/usd)

OTHER INFORMATION:

Pull based oracle functionality

Project 1100090 Information

1100090 Statement of Milestones: https://milestones.projectcatalyst.io/projects/1100090

1100090 Proposal: https://projectcatalyst.io/funds/11/cardano-use-cases-solution/charli3-pull-oracle-real-time-price-feeds-on-request-on-demand-validation-service-mvp

In project 1100090, Charli3 and the Metalamp team successfully delivered a fully functioning MVP that you view here:

Demo video: https://drive.google.com/file/d/1trqOYkJ5BL6NJQnGPo1OCRigboIU0T8I/view?usp=sharing

Contract address (Odv-oracle-contract): https://cexplorer.io/address/addr1w93vmc4m23cc6j507lhjf2duqxpjp5mdfey3fs767etxxjcyfmfv3/tx#data

Github Repo to interact with the Dummy use-case: 

https://github.com/Charli3-Official/swap-demo-contract

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

By delivering this solution, we aim to dramatically simplify the process of integrating oracle services into Cardano DApps, fostering innovation and growth within the ecosystem.

Our project will revolutionize oracle integration in the Cardano ecosystem, driving widespread adoption and fostering a more robust DeFi landscape. The impact will be felt across multiple layers of the ecosystem:

1. Developer Empowerment

   - Rapid Integration: Reduce oracle setup time from days/weeks to minutes

 - Cost Efficiency: Significantly lower on-chain costs through redeemer-based approach

 - Flexibility: Access to any CNT price pair feed on demand

 - Transparency: Clear, pay-as-you-go pricing model

 - Open-Source Advantage: Freely available SDK and node software for customization

Impact: Accelerated development cycles, increased innovation, and a lower barrier to entry for new projects.

2. DApp Ecosystem Growth

   - Increased Oracle Adoption: Self-service model encourages wider use of oracle services

 - Enhanced DApp Security: More reliable data sources reduce vulnerabilities

 - Diverse Applications: Easier access to varied price pairs enables new use cases

Impact: A more diverse, secure, and innovative DApp ecosystem on Cardano.

3. Network Strengthening

   - Scalability: Handle 100s of requests per minute on a single server

 - Node Operator Incentives: Higher rewards due to increased usage and efficiency

 - Decentralization: More node operators attracted by improved economics

Impact: A more robust, decentralized, and performant Cardano network.

4. User Experience Enhancement

   - Safer DApps: Increased oracle adoption leads to more reliable applications

 - Lower Fees: Reduced on-chain costs can be passed on to end-users

 - More Choice: Proliferation of DApps offers users a wider range of services

Impact: Improved user trust, lower transaction costs, and a richer ecosystem for Cardano users.

5. Cardano's Competitive Edge

   - Unique Offering: First blockchain with a fully automated, self-service oracle solution

 - Attracting Developers: Simplified oracle integration draws more builders to Cardano

 - Ecosystem Maturity: Demonstrates Cardano's capability to support advanced DeFi applications

Impact: Enhances Cardano's position in the broader blockchain landscape, potentially attracting more users, developers, and investors.

Measurable Outcomes:

- Target 50% reduction in average oracle integration time for new projects

- Aim for 30% increase in the number of DApps using oracle services within 6 months of launch

- Goal of 25% growth in Charli3 node operator network within first year

By delivering this innovative solution, we're not just solving a technical challenge – we're unlocking new possibilities for the entire Cardano ecosystem, driving growth, security, and innovation at every level.

In more detail...

Self-Service. Builders, Developers, and Founders do not have the time to go back and forth with Oracle teams. The typical process involves calls to communicate their data needs, then a back-and-forth on what feeds are available, contracting and pricing communication, then the Oracle provider needs to launch the service... the builders need to then integrate, and so on. The process is too long and frustrating for both parties. It costs time and resources that could be better spent elsewhere.

This project delivers a service that eliminates all these pain points that may prevent a protocol from adopting a better data solution to what they are currently using. Having a dedicated data service, like Charli3, providing your data and monitoring with multiple alert systems is the best possible solution on Cardano at the moment. An oracle service during the bull market will be integral to the success of Cardano's scaling.

IMPACT: Projects are more likely to use an Oracle Solution if it is self-service, transparent, and quick.

On-Demand Price Pair Creation:

Unlike traditional oracle services, our system can dynamically create and serve new price pairs as requested, without manual intervention.

Existing oracles services require manual pre-configurations to deliver on-demand data limiting users access to a wider range of desired feeds. This creates challenges for providers and users: some feeds are costly to maintain, while others don't meet users' needs. As a result, consumers often can't get the data they need. This gap in the ecosystem limits its efficiency and growth.

We propose a self-service oracle solution that improves how users access price data. The proposed service is aimed to serve price feed requests for any CNT (Cardano Native Token) pair available on supported DEXes (using Charli3-Dendrite) without requiring any additional manual configurations.

IMPACT: Builders can get the feeds they want right away without waiting for an oracle to prioritize it

Easier to build on Cardano. Builders in other ecosystems that have faced bull market conditions do not debate the need for an oracle provider, it is a minimum requirement in their build plan. As projects migrate to Cardano, Charli3 is often one of the first contract partners to be contacted. By having a self-service solution, we can significantly reduce any barrier or friction for new projects to just get up-and-running to build.

IMPACT: More projects onboarded onto Cardano and faster.

Scaling Benefits. In order to achieve the scalability required for self-service, Charli3 will need to adapt a redeemer based approach to reduce on-chain costs, and modify the node software to handle 100s of requests per minute on a single server. These two changes will have the added benefit of significantly lower costs to customers.

IMPACT: Significantly lower costs and significantly higher node rewards at the same will drive more node operators to join the Charli3 network in the coming quarters and hopefully entice Protocols to adopt an Oracle solution.

IMPACT: If lower costs and self-service, increases adopt of Oracle Services then we argue that Dapps using our services are safer and using more accurate and reliable data reducing common faults from having bad data.

Summary of the benefits

Consumer/Dapp Benefits

• Lower cost
• No need to sign contracts
• No need to speak with a person
• Transparent pricing
• Open-sourced SDK
• Open-sourced Node software
• Any feed available in minutes

Cardano end-user Benefits

• Increase oracle adoption means safer Dapps
• Higher node rewards due to the scaling benefits
• Open-sourced components increase transparency

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

View our live decentralized oracle feeds here: portal.charli3.io

The Charli3 team have been awarded 10 funded project catalyst proposals in the past. 3 have successfully completed. 5 are in-progress and scheduled to complete by November 2024 from Fund 11. We are beginning 2 other projects this quarter.

We have an in-house development team that started in 2021. Our Oracle solution with push-based architecture has been live since 2022, the first Decentralized Oracle Solution on Cardano. You can view the feeds at portal.charli3.io. Our pull-based oracle functionality is live and a demo is viewable when you look at the project 1100090 milestones deliverables.

The key foundations for this project are already complete: Project 1100090 and Project 1100093. Charli3 Dendrite (see solution)

We are currently working Anastasia Labs, Metalamp, Txpipe. We've worked with other labs such as Plank and successfully passed a Certik level 2 audit (the first on Cardano to pass one).

Our team has stayed committed through a difficult bear market subsidizing the majority of our data feeds to enable projects to build using them.

Our current offerings includes the following active services: push-based oracle data feeds, pull-based oracle data feeds, Proof of Reserves (USDM).

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Milestone 1: Project Initiation and Scope Refinement (4 weeks)

A. Milestone Outputs

• Finalized project team roster
• Detailed project scope document
• Initial architecture design document

B. Acceptance Criteria

• All team contracts signed
• Architecture design review completed

C. Evidence of Milestone Completion

• Medium article introducing the project team and confirmed scope
• Initial architecture design document provided in PDF format available publicly on catalyst POA submission or through the medium article

During the project scope output, it may become apparent to the team that the milestones suggested in this proposal need to re-ordered or minor adjustments need to be made to them. We will not make any substantial changes though. For example, we may need to address some of the scaling outputs for milestone 3 in milestone 2. But the general output will remain the same.

Milestone 2: Back-end MVP Development (8 weeks)

A. Milestone Outputs

• Build a functional back-end architecture MVP
• Set up a single node Charli3 node network (or 3+ if possible)
• Charli3 Dendrite configured for single CNT price pair
• Refactor current pull-based Oracle architecture to receive and respond to a simulated user request for a single CNT price pair
• Implement Redeemer-based approach implemented for cost optimization
• Test script for simulated user requests

B. Acceptance Criteria

• Successful demonstration of end-to-end request and response for a single CNT price pair using a redeemer based approach

C. Evidence of Milestone Completion

• Demo video showcasing the MVP functionality

Milestone 3: Back-end Scaling and Optimization (10 weeks)

A. Milestone Outputs

• Scalable back-end architecture supporting multiple simultaneous requests
• Open-sourced Node Software capable of handling multiple data requests
• Mechanism for distinguishing and routing multiple price pair requests
• Support for all CNTs available on Charli3 Dendrite

B. Acceptance Criteria

• Successful handling of at least 10 simultaneous requests per block
• **Exact criteria may need updating in SOM we are guessing at what the right metric is right now
• All CNTs on Charli3 Dendrite accessible through the system

C. Evidence of Milestone Completion

• Demonstration of a simulated set of user requests for multiple CNT price pairs being received and responded to by the back-end
• Demonstration of multiple requests sent simultaneously and back-end handling it gracefully
• Open-source repository for Node Software

Milestone 4: Front-end Development and SDK Creation (6 weeks)

A. Milestone Outputs

• Build out the front-end including at a minimum:
• Self-Service Tool for user to input request and receive a configuration file for SDK
• A catalogue of all supported CNT price pairs
• Documentation to use the self-service tool
• Build Open-source Self-Service SDK
• Select Cardano client framework integration: lucid-evolution (ts), blaze (ts), mesh-js (ts), ctl (purescript) or other

B. Acceptance Criteria

• Front-end successfully integrated with back-end
• SDK is completed and passes all unit and integration tests

C. Evidence of Milestone Completion

• Github repository link for open-source SDK
• Screenshot of SDK passing all unit and integration tests
• Live test site or demo video of front-end functionality: user request for price pair responded to with configuration file (sample file for demo purposes acceptable at this stage)

Milestone 5: Integration and Testing (4 weeks)

A. Milestone Outputs

• Fully integrated front-end and back-end systems
• User request responds with accurate (non demo) configuration file
• Comprehensive test suite covering all major functionalities
• Performance optimization based on test results

B. Acceptance Criteria

• All integration tests passing
• System performance meeting or exceeding specified requirements
• User acceptance testing completed successfully

C. Evidence of Milestone Completion

• Demo video of end-to-end system functionality
• Test report detailing all test cases and results
• Performance benchmark report

Milestone 6: Documentation, Deployment, and Launch (4 weeks)

A. Milestone Outputs

• Deploy back-end architecture to production
• Deploy front-end to production
• Populate front-end with documentation and content
• Close out report completed
• Close out video completed

B. Acceptance Criteria

• Successful deployment of all system components
• Front-end documentation completed
• Close out video completed
• Close out report completed

C. Evidence of Milestone Completion

• Live public front-end link
• Github repository for Open-Source SDK and documentation
• Demo video of the final product
• Close out report accepted
• Close out video accepted

[RESOURCES] Who is in the project team and what are their roles?

Project leads - Business side:

Damon Zwarich

Robert Hever

Technical advisors

George Flevorsky

Founder of Steelswap.io (https://x.com/ElderM)

Current contractors likely to join the project:

• Metalamp (Currently engaged)
• Txpipe (Working on complimentary project)

In-house Development team:

Talha Hussain

Deep Bhatt

Jose Seraquive

In addition to the in-house team assigned to this project, we will likely hire a technical project lead and full-stack developer. We have two in mind from our working relationship with Metalamp.

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Milestone 1: Project Initiation and Scope Refinement (4 weeks)

During this phase we will find and hire contractors to fill any gaps on our current in-house team. Additionally we will create an architectural design document that will refine the implementation plan in this proposal.

Resources to deliver milestone:

• Senior Architect USD$150 hour
• Research (20 hours)
• Architectural Design and Project Plan (20 hours)
• Hire contractors (1 Senior architect, 1 Cardano on-chain specialist developer, 1 full-stack web3 developer)

Delivery: 4 weeks

Budget: USD$6,000

Milestone 2: Back-end MVP Development (8 weeks)

This is a complex and challenging set of outputs that require not only skilled developers but ones that are familiar with Charli3's current architecture. Getting any contractors up to speed will take additional time.

• Team of 4
• 1 Senior Technical Lead support role (USD$100hr)
• Team Lead (40 x 15 minutes standups, sprints 4 x 60 minutes)
• Support: 14 hours
• Part-time: 20 hours
• Cost: $3,400
• 2 Full-stack web3 developer (USD$80hr)
• Full-time: 320 hours
• Cost: $51,200
• 1 back-end developer (USD$80hr)
• Full-time: 320 hours
• Cost: $25,600

Delivery: 8 weeks

Budget: USD$80,200

Milestone 3: Back-end Scaling and Optimization (10 weeks)

This is the most complex and difficult set of outputs in the entire project. The team must solve complex challenges related to multiple network requests at the same time. Avoiding DDOS attacks, and more.

• Team of 4
• 1 Senior Technical Lead support role (USD$100hr)
• Team Lead (50 x 15 minutes standups, sprints 5 x 60 minutes)
• Support: 17.5 hours
• Part-time: 20 hours
• Cost: $3,750
• 2 Full-stack web3 developer (USD$80hr)
• Full-time: 400 hours
• Cost: $64,000
• 1 back-end developer (USD$80hr)
• Full-time: 400 hours
• Cost: $32,000

Delivery: 10 weeks

Budget: USD$99,750

Milestone 4: Front-end Development and SDK Creation (6 weeks)

For this phase we will build the front-end and create the SDK. We will need less resources for this step and it will take less time than the previous steps.

• Team of 3
• 1 Senior Technical Lead support role (USD$100hr)
• Team Lead (30 x 15 minutes standups, sprints 3 x 60 minutes)
• Support: 10.5 hours
• Part-time: 20 hours
• Cost: $3,050
• 1 Full-stack web3 developer (USD$80hr)
• Full-time: 240 hours
• Cost: $19,200
• 1 back-end developer (USD$80hr)
• Part-time: 60 hours
• Cost: $4,800

Delivery: 6 weeks

Budget: USD$27,050

Milestone 5: Integration and Testing (4 weeks)

Reduction in hours to deliver this milestone.

• Team of 3
• 1 Senior Technical Lead support role (USD$100hr)
• Team Lead (20 x 15 minutes standups, sprints 2 x 60 minutes)
• Support: 7 hours
• Part-time: 10 hours
• Cost: $1,700
• 1 Full-stack web3 developer (USD$80hr)
• Full-time: 160 hours
• Cost: $12,800
• 1 back-end developer (USD$80hr)
• Part-time: 80 hours
• Cost: $6,400

Delivery: 4 weeks

Budget: USD$20,900

Milestone 6: Documentation, Deployment, and Launch (4 weeks)

• Team of 3
• 1 Senior Technical Lead support role (USD$100hr)
• Team Lead (20 x 15 minutes standups, sprints 2 x 60 minutes)
• Support: 15 hours
• Cost: $1,500
• 1 Full-stack web3 developer (USD$80hr)
• Part-time: 40 hours
• Cost: $3,200
• 1 back-end developer (USD$80hr)
• Part-time: 20 hours
• Cost: $1,600

Delivery: 4 weeks

Budget: USD$6,300

OVERALL PROJECT

Timeline: 36 weeks (8 months)

Budget: USD$240,200 | 706,000 ADA

Requested Funding: 500,000 ADA

ADA exchange rate of 0.34 used.

The limit for this category is 500,000 ADA. We believe we can leverage our in-house resources to bring the costs down USD$75,000 and deliver this project successfully. At current market rates, the maximum proposal payout is USD$170,000. The risk is minimal in project delivery. We have business partners that are very interested in the deliverable of this project who can help fund in the addition to Catalyst too.

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

Our project offers exceptional value for money to the Cardano ecosystem for several key reasons:

1. Cost-Effective Development:
2. While comparable solutions from Chainlink, Supra, Pyth, and Redstone required multi-million dollar budgets, we're delivering similar functionality at a fraction of the cost.
3. Charli3 is contributing significant additional resources beyond the Catalyst funds, maximizing the impact of the investment.
4. Addressing a Critical Ecosystem Gap:
5. Cardano is one of the few major blockchain ecosystems lacking widespread oracle adoption. This project fills a crucial infrastructure need, potentially catalyzing explosive growth in DeFi and other data-dependent applications.
6. Long-Term Economic Benefits:
7. By reducing integration costs and time for DApps, we're lowering the barrier to entry for new projects, potentially accelerating ecosystem growth and ADA usage.
8. Increased oracle adoption leads to more secure and reliable DApps, enhancing Cardano's reputation and potentially attracting more users and investors.
9. Scalability and Future-Proofing:
10. Our solution is designed to handle high-volume scenarios, crucial for the anticipated bull market where data infrastructure will face extreme pressures.
11. This scalability ensures the investment continues to provide value as the ecosystem grows, without requiring additional major funding rounds.
12. Competitive Advantage for Cardano:
13. This project positions Cardano as a leader in oracle technology, potentially attracting developers and projects from other blockchains.
14. Risk Mitigation:
15. Robust, easily accessible oracle services reduce the risk of data-related failures in DApps, protecting user funds and the ecosystem's reputation.
16. Developer Productivity Boost:
17. The time saved by developers in integrating oracle services can be redirected to building core DApp functionality, accelerating innovation in the ecosystem.
18. Foundation for Future Innovation:
19. This oracle infrastructure lays the groundwork for more advanced DeFi protocols, potentially unlocking entirely new use cases for Cardano.
20. Community Empowerment:
21. By democratizing access to reliable off-chain data, we're empowering a wider range of individuals and teams to contribute meaningfully to the Cardano ecosystem.

In conclusion, the relatively modest investment in this project has the potential to yield outsized returns for the Cardano ecosystem. It addresses a critical need, positions Cardano competitively in the broader blockchain landscape, and creates a foundation for sustainable, long-term growth and innovation. The value delivered extends far beyond the immediate functionality, potentially serving as a catalyst for Cardano's next major phase of adoption and development.