Last updated 63 days ago
Due to 20 second block update restrictions on Cardano, it is not possible to get accurate & reliable data on-chain under that limit. How can you place decentralized oracle data on-chain in 1 sec?
This is the total amount allocated to CHARLI3 - Cardano integrated Side-Chain Oracle built on Substrate. 0 out of 4 milestones are complete
1/4
Project team assembled and research scope defined
Status: In Progress
Cost: ₳ 30,000
Delivery: Month 1 - Apr 2024
2/4
Research that outputs a feasibility report
Status: Incomplete
Cost: ₳ 30,000
Delivery: Month 2 - May 2024
3/4
Proof of concept report: recommendation of next steps with implementation plan
Status: Incomplete
Cost: ₳ 5,000
Delivery: Month 3 - Jun 2024
4/4
Final research paper + Close-out report submitted
Status: Incomplete
Cost: ₳ 35,000
Delivery: Month 4 - Jul 2024
NB: Monthly reporting was deprecated from January 2024 and replaced fully by the Milestones Program framework. Learn more here
We propose IOG’s new partnerchains framework to build a decentralized sidechain to provide oracle services to Cardano main net, other sidechains, and UTXO based networks.
This project is research-based and will be driven primarily by our in-house development team.
As a company, we employ multiple contractor teams to assist us in daily operations and special projects. We may employ a senior architect to assist us in the research from one of our partner labs, these include Metalamp and Mlabs.
We are also dependent on the delivery of the partnerchains SDK from IOG to start implementation.
We would ideally like to create our redesign solution completely open-sourced under the Apache license.
At a minimum, we will provide a public research report with our findings including a demo of our proof of concept for Cardano user feedback.
That said, a decentralized Oracle solution needs to prioritize data integrity and security before all else. We may choose to close source parts of the POC if we decide to invest our own funds to pursue future development.
This is a research project with an end goal deliverable of creating a bare bones proof of concept to share with the Cardano community for feedback. The goal would be to determine the demand and feasibility of this solution to build out in in the future.
Research Stage
Proof of Concept Stage
Our team's assumption is that an independent Charli3 sidechain focused solely on Oracle data translation and transmission on an IOG partnerchain could have significant ecosystem benefits including, but not limited to the following:
Charli3 is the only decentralized oracle solution built natively on Cardano that posts node values directly on-chain and aggregation occurs on-chain too. The benefit of doing this is auditability, transparency, and taking a fully native approach. The downside is that every transaction costs ADA rising costs for end users. A side-chain is a potential solution to drastically reduce costs. Especially, by reducing the cost of consumption (as we understand it right now there may be options to pull/listen to data on partnerchains without paying significant transaction fees).
The impact of our research will be to present to the Cardano community the benefits, limitations, feasibility, and hopefully a clear proof of concept a side-chain oracle solution.
We like to think our track record of building consistently since April 2021 speaks for itself. The ADA/USD price feed on mainnet has been live since October 2022 and up 99.99999% since then (View our flagship feed).
Our core solution passed a level 2 audit by CertiK.
It was one of the first solutions on Cardano audited by the CertiK team. Charli3 launched one of the first smart contracts after the capability was upgraded on mainnet. Our core architecture is native to Cardano and we are the first decentralized oracle solution built on Cardano.
At our peak our team consisted of 25+ team members. During the bear market, we've greatly reduced our team with intentions to scale up in 2024. The current development team consists of three core members and three contracting teams with 1-4 members each. Charli3 currently has around 15 dedicated members.
We have partners with industry leading development teams like Metalamp, Mlabs, and previously Plank.
Our team is currently researching partnerchains and in discussion with both Midnight and IOG team members. This project will have a delayed start after the pioneer program completes and we have sufficient information to begin the research project.
Deliverable:
Research completed with the following deliverables:
A single node network on the side-chain
Integration with Cardano (this could be blocked by lack of infrastructure or tooling solutions between Cardano and the IOG partnerchains)
A functioning proof of concept on the side-chain with a full report on its capabilities and limitations. If possible an integration with Cardano.
Charli3 team: https://charli3.io/team
Project Lead: Robert
Support: Metalamp and Mlabs, as needed
Research Stage
Proof of Concept Stage
TOTAL COST: USD$44,800 (around 100k ADA at current prices)
by reducing operational fees, eliminating most transaction fees necessary, supplying SDKs for ease of integration, and expanding to other exosystems, The side chain will bring further operation to cardano Dapps, partner side chains, and other ecosystems.
This not only lowers time spend on oracle usage, but increases time spent on further ecosystem and blockchain innovation, ultimately building larger value for Cardano