Wolfram Marlowe Mainnet Echo Price Feeds

[GENERAL] Name and surname of main applicant

Jon Woodard

[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)

12

[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)

Our solution facilitates the entire delivery of crypto price feeds into Marlowe ready smart contracts for end users to create financial options.

[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.”

This project is dependent on the Marlowe 2025 proposal being funded, or a team capable of maintaining the Marlowe Runtime Service and additionally, the Marlowe Transaction Builder SDK requires development from an external development team.

[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

The oracle contract and real-time pricing database will be open source under an Apache open source license, but the harvester that delivers the pricing data to the financial contract use case in the workflow will not be open-source.

[METADATA] Horizons

DeFi

[SOLUTION] Please describe your proposed solution

For a Marlowe smart contract to make decisions based on external data, the execution of a choice input is required. In Fund 11, we developed a prototype system that allows users to request external data and delivers this information to the appropriate choice within the Marlowe smart contract.

Our system consists of two core components: 1) the Oracle Contract and 2) the Oracle Harvester.

1. Oracle Contract: Acts as a request interface between users and the oracle system. It secures the requested information and payment on the blockchain, ensuring full transparency. Payments are only processed if the contract conditions are met, providing an additional layer of trust and security.
2. Oracle Harvester: Manages incoming data requests and delivers the requested information to the Oracle Contract.

The goal of this project is to take the Wolfram Marlowe Smart Contract Execution prototype to mainnet readiness, making it available for the Cardano community as a fully functional, secure, and scalable system.

Key Steps to Solve the Problem:

1.Marlowe Transaction Builder SDK

• Upgrades to Marlowe Runtime Server and Marlowe SDK
• Completed by Marlowe 2025 team or other external team.

2.Implement Audits for Mainnet Deployment & Integration Testing:

• This includes validating the smart contract’s logic, checking for vulnerabilities, and ensuring update/compliance with mainnet standards. 
• Integration testing: Ensure every part of the oracle interacts with the other mechanisms in the correct way. 
• Marlowe runtime server up and ready (external team)

3.Cost Structures for Contracts:

• Research and establish a pricing model for price data feeds and smart contract execution. Determine the costs associated with autonomous execution, ensuring that users are fully informed of the fees required for deploying and running contracts.

4.Utilities to Execute Functionality:

• Application to enter/explore relevant data to facilitate the full (on-chain/off-chain) service.
• Includes:
• Contract explorer (verification)
• Datum constructor (form)
• Transaction builder (deployment)
• Connection with runtime server (operation)
• Notification system (error handling)

5.Provenance Tracking for Price Feed Data:

• Implementing a provenance mechanism that will track the source and authenticity of price feed data.

6.Production Readiness 

• Testing, deployment, documentation
• Plutus V3 review: changes and impact, with potential implementation to Wolfram Language.
• Review of Chang Hardfork and impact on Oracle Harvester Service

By addressing these critical areas, we aim to offer the a fully automated Marlowe smart contract execution system on Cardano, equipped with price feeds for DeFi application. We will research Plutus V3/Chang Hardfork upgrades, and share a methodology for tracking price provenance. This solution will empower users to deploy financial contracts, unlocking a fuller potential of Cardano’s DeFi ecosystem.

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

Our project offers the Cardano community an oracle service specifically designed for Marlowe smart contracts, providing accurate and verified price feed data with provenance verification. The impact of this system will be measured by its ability to consistently deliver accurate and timely price feed data upon request, ensuring reliability and enhancing the functionality of smart contracts on Cardano. Success will be demonstrated by the accuracy, reliability, and adoption of the service within the ecosystem. We will share the opportunities resulting from our project through comprehensive documentation, offering example financial option contracts. These outputs will be made publicly available to the community.

[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?

Our team at Wolfram Blockchain Labs has already established a majority of the necessary infrastructure, including a fully functioning real-time price feed system and prototype integration with Marlowe smart contracts. We are supported by the Marlowe 2025 team. The Marlowe Team consists of Nicolas Henin, Tomasz Rybarczyk and Simon Thompson.

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

Milestone 1: Marlowe Transaction Builder SDK

• Output:
• A custom Marlowe SDK extension
• Marlowe Runtime Service operating/live.
• Acceptance Criteria:
• SDK is extended by the Marlowe team.
• The Wolfram team has integrated the tool.
• Documentation is provided for modifying and using the SDK.
• Evidence:
• Video demo of custom Marlowe SDK extension and live runtime service.

Milestone 2: Testnet Audits for Mainnet Deployment & Integration Testing

• Output:
• Implemented audit for mainnet deployment, along with integration testing for oracle interactions.
• Acceptance Criteria:
• Integration tests confirm that all parts of the oracle interact as expected.
• Mainnet deployment standards are met.
• Evidence:
• Successful integration testing showing interactions between the oracle and other components.
• A mainnet deployment checklist with confirmed compliance to standards.

Milestone 3: Cost Structures for Contracts

• Output:
• A pricing model for price data feeds and smart contract execution costs.
• Acceptance Criteria:
• A clear and detailed pricing model for the oracle service and contract execution.
• Cost calculations include autonomous execution, data feeds, and contract deployment.
• Evidence:
• Pricing model documentation outlining the cost breakdown for each service.
• Example calculations showing the fees for deploying contracts.

Milestone 4: Utilities to Execute Functionality

• Output:
• Various utilities operating to facilitate functionality
• Acceptance Criteria:
• Successful deployment and interaction with the oracle.
• Users can check contract progress and transaction status
• Evidence:
• UI/UX screenshots showing contract states and user interactions.

Milestone 5: Provenance Tracking for Price Feed Data

• Output:
• A mechanism that tracks and verifies the source of price feed data.
• Acceptance Criteria:
• Provenance data is verifiable
• Users can audit the data’s origin and integrity.
• Evidence:
• Provenance mechanism reports, showing how price feed data is tracked.
• Demonstrations or user interfaces showing users how to verify the data source.

Production Readiness

• Output:
• Full deployment readiness, including testing, documentation, and review of Plutus V3 changes and Chang Hardfork impacts.
• Acceptance Criteria:
• Successful deployment of the system post-Chang hardfork, with updated contracts.
• Evidence:
• Deployment reports showing successful system upgrades and functionality.
• Documentation on V3 changes and implementation steps.
• Logs or test results showing how the oracle harvester has been upgraded to potentially necessary V3 standards, discard if not.

Final Closeout and Reporting

Output:

• Final project report and closing video showcasing the fully developed system.
• Detailed documentation on the solution, including security audits, cost models, and governance action research.

Acceptance Criteria:

• All documentation is completed and shared with the community.
• Final project demonstration video is delivered and shows the end-to-end solution working.

Evidence:

• Final report detailing the project milestones, including outputs, costs, and community impact.
• Closing video demonstrating a live execution of the system.
• Published documentation available on GitHub with open access for the community.

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

Jon Woodard, CEO

Jon Woodard is the CEO at Wolfram Blockchain Labs, where Jon coordinates the decentralized projects that connect the Wolfram Technology ecosystem to different DLT ecosystems. Previously at Wolfram Research Jon worked on projects at the direction of Wolfram Research CEO Stephen Wolfram and prior to that was a member of the team who worked on the monetization strategies and execution for Wolfram|Alpha. Jon has a background in economics and computational neuroscience. He enjoys cycling in his spare time.

Johan Veerman, CTO

Johan Veerman is General Manager at Wolfram Research South America and CTO at Wolfram Blockchain Labs. Previously he has been Science Advisor at the Ministry of Foreign Affairs in Peru and Chief Scientist on two Antarctic expeditions. Johan's background is on physics and business management. He enjoys playing soccer and is a certified cave diver.

Steph Macurdy, Head of Research and Education

Steph Macurdy has a background in economics, with a focus on complex systems. He attended the Real World Risk Institute in 2019, lead by Nassim Taleb, and has been investing in the crypto asset space since 2015. He previously worked for Tesla as an energy advisor and Cambridge Associates as an investment analyst. Steph is a youth soccer coach in the Philadelphia area and is interested in permaculture.

Gabriela Guerra Galan, Project Manager

Gabriela Guerra Galan: Gabriela has 15+ years of experience leading projects. She is a certified PMP and Product Owner with bachelor's degree in Mechatronical Engineering, complemented by a master's degree in Automotive Engineering. As the co-founder of Bloinx, a startup that secured funding from the UNICEF Innovation Fund, she has demonstrated a passion for driving innovation and social impact.

Daniel Suarez, Manager Blockchain Integrations

Daniel Suarez: Daniel is a Manager at Wolfram Research. He is in charge of the software architecture as manager of the blockchain project, and has been with the company for seven years. Daniel has a background in electronic engineering, focusing on Digital Signal Processing and Parallel Computing. Previously, he has experience as a radar software engineer at Jicamarca Radio Observatory. He enjoys playing drums.

Angel Mosquera, Lead Developer

Angel Mosquera: Angel is a Lead Developer of Blockchain Integration at Wolfram Research South America. Angel has been with the company for a year and he is in charge of integrating and maintaining new blockchain technologies with the Wolfram Language. He has a background in physics with emphasis on complex systems and computational physics. In his spare time, he loves to watch comedy shows.

Piero Sanchez, Lead Developer

Piero Sanchez: Piero is a Lead Developer of Blockchain Integrations at Wolfram Blockchain Labs/Wolfram Research South America. Piero has been with the company for five years, and he is in charge of integrating and maintaining new blockchain technologies with the Wolfram Language, as well as helping other team members with technical tasks. He has a background in experimental physics and quantum optics and has worked in the blockchain group since it started. In his free time, he likes to play video games and board games.

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

Total Cost: 494,000 ADA

Milestone 1: Marlowe Transaction Builder SDK: 130,000 ADA

• A custom Marlowe SDK extension
• Marlowe Runtime Service operating/live.

Milestone 2: Implement Testnet Audits for Mainnet Deployment & Integration Testing: 50,000 ADA

• Implemented audit for mainnet deployment
• Integration testing for oracle interactions.

Milestone 3: Cost Structures for Contracts: 120,000 ADA

• Pricing model for:
• Price feeds
• Smart contract execution costs.

Milestone 4: Utilities for Executing Functionality: 75,000 ADA

• UI/UX utilities
• Complete operations required to execute functionality

Milestone 5: Provenance Tracking for Price Feed Data: 39,000 ADA

• A mechanism/system for tracking price feed data.
• A mechanism/system for verifying the source of price feed data.

Milestone 6: Production Readiness: 80,000 ADA

• Full deployment readiness
• Testing
• Documentation
• Review of Plutus V3 changes and Chang Hardfork impacts.

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

This project represents value for the Cardano ecosystem because it focuses on a critical area—price feed data integration, governance, and the automation of financial contracts within Marlowe. By ensuring seamless smart contract execution using price feeds and governance actions, we can unlock new financial use cases that will significantly boost the functionality and adoption of Cardano’s DeFi ecosystem.

• Infrastructure Already Built:
• Much of the groundwork has already been laid. We have successfully built and tested the core infrastructure, including price feeds and contract logic. This gives us a head start, minimizing risk and ensuring the project can move rapidly to mainnet. The costs reflect final steps like security auditing, governance integration, and UI/UX improvements that are critical for mainnet readiness.
• Security, Provenance, and Trust:
• Ensuring secure smart contracts and verifiable price feeds is non-negotiable in the DeFi space. A significant portion of the budget is allocated to security audits, provenance tracking, and system validation to guarantee that users and institutions can trust the data driving their financial contracts. Given the scale of the DeFi market, this investment in security provides strong value for money by reducing the risk of contract failures or exploits.
• Utilities for Execution – Lowering Barriers for Developers and Users:
• By investing in a user-friendly SDK, we aim to make it easier for both developers and end-users to deploy and interact with smart contracts on Cardano. This includes transparency around price feed data and governance actions. The cost of UI/UX development is justified by the long-term benefits of increased user adoption and lower technical barriers for entry.