[Proposal setup] Proposal title
Please provide your proposal title
Ethereum to Cardano Multi-Asset Bridge Powered by Wormhole
[Proposal Summary] Budget Information
Enter the amount of funding you are requesting in ADA
750000
[Proposal Summary] Time
Please specify how many months you expect your project to last
12
[Proposal Summary] Translation Information
Please indicate if your proposal has been auto-translated
No
Original Language
en
[Proposal Summary] Problem Statement
What is the problem you want to solve?
Inefficient, costly transfers between Ethereum and Cardano limit interoperability, liquidity flow, and adoption across both ecosystems.
[Proposal Summary] Supporting Documentation
Supporting links
[Proposal Summary] Project Dependencies
Does your project have any dependencies on other organizations, technical or otherwise?
Yes
Describe any dependencies or write 'No dependencies'
The bridge integrates with:Ethereum and Cardano wallet APIs (Metamask, Uniswap Wallet, Eternl, Lace, Tokeo, NuFi, Typhon). Wormhole’s Portal Token Bridge, NTT, and Connect for cross-chain messaging and UI. Chainlink oracles for decentralized pricing of native token transfers. Cardano stake pool operators (SPOs) for decentralized Relayer nodes, with AWS/DigitalOcean as backup for non-critical services (e.g., UI hosting). All dependencies are publicly accessible, ensuring independent delivery without organizational reliance.
[Proposal Summary] Project Open Source
Will your project's outputs be fully open source?
Yes
License and Additional Information
The Ethereum to Cardano Multi-Asset Bridge will be fully open source under the MIT License. All smart contracts, bridge code, documentation, and integration guides will be publicly hosted on GitHub from project inception. Community contributions via pull requests and discussions will be encouraged to enhance token support and foster Cardano's interoperability innovation.
[Theme Selection] Theme
Please choose the most relevant theme and tag related to the outcomes of your proposal
Interoperability
[Campaign Category] Category Questions
Describe your established collaborations.
The Eth2Ada team partners with:
- Wormhole: Provides Portal Token Bridge for lock-and-mint transfers, NTT for native token synchronization, and Connect for seamless dApp integration.
- Chainlink: Supplies decentralized price feeds for native token transfers, ensuring fair pricing.
Advisor Daniel Chan (CTO, Wombat Exchange, https://www.wombat.exchange/)) brings expertise in DeFi bridging. Our prior Fund9/Fund11 successes (e.g., Builder Dictionary, Developer Hub) ensure robust delivery.
Describe funding commitments.
We request 750,000 ADA to fund:
- Plutus/Solidity smart contract development for Cardano’s UTXO model and Ethereum’s account-based model.
- Wormhole and Chainlink integrations.
- Multi-phase audits by AnastasiaLabs and VaccumLabs, plus a $100,000 bug bounty.
- Marketing and community engagement via X, Cardano Town Halls, and AMAs.
- Decentralized infrastructure via Cardano SPOs, with AWS/DigitalOcean backups.
Our Fund9/Fund11 track record ensures on-time, high-quality delivery, scaling with transaction volume to maximize Cardano’s DeFi interoperability.
Describe your key performance metrics.
Token Transfers: 15,000+ cross-chain transfers within 6 months post-launch.
User Adoption: 7,500+ unique wallet connections across ecosystems.
Liquidity Pool Volume: 2M+ ADA equivalent in bridged assets.
Community Contributions: 75+ GitHub pull requests from developers.
Fee Sharing: 100,000+ ADA distributed to liquidity providers and users.
[Your Project and Solution] Solution
Please describe your proposed solution and how it addresses the problem
The Ethereum to Cardano Multi-Asset Bridge addresses inefficiencies in cross-chain token transfers, where high fees, slow finality, and lack of interoperability limit Cardano’s access to Ethereum’s asset ecosystem. Our solution is a robust, mainnet-deployed bridge leveraging Wormhole’s proven infrastructure and Cardano’s UTXO model to enable secure, fast, and cost-effective transfers.
Key Features:
- Wormhole Portal Token Bridge: Uses a lock-and-mint mechanism to transfer non-native tokens (e.g., USDC, USDT) between Ethereum and Cardano, minting wrapped assets (e.g., wUSDC on Cardano, wADA on Ethereum) with preserved metadata.
- Native Token Transfers (NTT): Synchronizes native tokens (ADA, ETH) across chains without wrapping, reducing complexity and fees.
- Wormhole Connect: Provides a plug-and-play UI widget for seamless bridging within Cardano and Ethereum dApps, supporting wallets like Eternl, Lace, Metamask, and Trust Wallet.
- Chainlink Oracle Integration: Ensures real-time pricing for native token transfers, mitigating volatility risks.
- Automated Relayers: Deliver Wormhole’s Verified Action Approvals (VAAs) for sub-minute finality, eliminating manual user steps.
- ADA-Centric Fees: All protocol fees are settled in ADA, enhancing Cardano’s token utility and network activity.
- Open-Source Extensibility: Hosted on GitHub under MIT License, enabling community additions of token pairs or chains.
Technical Workflow:
- Asset Locking:On Ethereum: Users lock ERC-20 tokens or ETH in a Solidity-based Wormhole Token Bridge contract.
- On Cardano: Users lock ADA or native tokens in a Plutus contract, handling UTXO inputs/outputs.
- Message Emission:Wormhole’s Core Contract (Solidity on Ethereum, Plutus on Cardano) emits a transfer message (amount, recipient, destination chain).
- Guardian Verification:Wormhole’s 19 Guardian nodes verify the message, supporting Cardano’s EdDSA/Schnorr signatures. A 2/3 supermajority signs a VAA.
- VAA Delivery:Automated Relayers, run by Cardano SPOs, deliver VAAs to the destination chain, ensuring 20–30-second finality.
- Asset Release:On Cardano: Plutus contract mints wrapped tokens (e.g., wUSDC) or releases native tokens via NTT.
- On Ethereum: Solidity contract mints wADA or releases ETH.
- Fee Distribution:Protocol fees (in ADA) are distributed 50% to users and 50% to community incentives via a Plutus contract, tracked transparently via Wormholescan.
Risk Mitigation:
- Bridge Security: Multi-phase audits by AnastasiaLabs and VaccumLabs, a $100,000 bug bounty, and Wormhole’s Global Accountant (ensuring 1:1 asset pegs) and Governor (delaying suspicious transfers up to 24 hours).
- Signature Compatibility: Supports Cardano’s EdDSA/Schnorr signatures for Guardian verification, leveraging the Valentine update (2023).
- Operational Reliability: Decentralized Relayers via Cardano SPOs, with AWS/DigitalOcean backups for UI and analytics. IPFS stores documentation for redundancy.
- Volatility Risk: Chainlink oracles provide accurate pricing for NTT transfers.
- Regulatory Compliance: Ongoing monitoring aligns with cross-chain and DeFi standards.
The bridge fosters high-value transfers, aligning with Catalyst’s focus on mature, mainnet solutions driving Cardano’s interoperability.
[Your Project and Solution] Impact
Please define the positive impact your project will have on the wider Cardano community
The Ethereum to Cardano Multi-Asset Bridge will significantly elevate the Cardano ecosystem by:
- Enhancing Interoperability: Facilitates seamless token flows from Ethereum, attracting developers and liquidity to Cardano's DeFi landscape.
- Boosting ADA Utility: ADA-based fees and rewards increase token demand, transaction volume, and overall network activity.
- Driving User Adoption: Low-fee, user-friendly bridging onboards 7,500+ Ethereum users, expanding Cardano's global reach.
- Fostering Ecosystem Innovation: Open-source code enables community extensions, such as additional chains or assets, accelerating DeFi growth.
- Economic Incentives: Distributes 100,000+ ADA in shared fees, deepening liquidity pools and stabilizing asset prices.
Key Metrics:
15,000+ cross-chain token transfers within 6 months.
7,500+ unique wallet connections.
2M+ ADA equivalent in liquidity pool volume.
75+ GitHub contributions.
100,000+ ADA in fee-sharing rewards.
Engagement through X (@Eth2Ada), Cardano Town Halls, webinars, and a liquidity provider leaderboard will ensure community involvement. The project supports SDG 9 (Industry, Innovation, and Infrastructure), positioning Cardano as a hub for cross-chain DeFi.
[Your Project and Solution] Capabilities & 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?
The Eth2Ada team brings a proven track record of Catalyst-funded successes:
- Fund9 (Builder Dictionary): Delivered an open-source Ethereum-to-Cardano developer dictionary (https://eth2ada.com), achieving widespread adoption.
- Fund11 (Developer Hub): Built an AI-powered educational platform with 93% user satisfaction, demonstrating expertise in Cardano tooling.
Team Expertise:
- Clint Alexander (Project Manager & CTO)
LinkedIn: https://linkedin.com/in/clint-a-049742233
Bio: Blockchain expert since 2013, specializing in Solidity, Plutus, Rust, and Cardano toolsets. Led Fund9/Fund11 projects and collaborated with Bitmain and DexHunter.
Role: Oversees smart contract development, oracle integration, and architecture.
- Ben Gordon (Creative Director)
LinkedIn: https://www.linkedin.com/in/ben-gordon-352b37232/
Bio: Blockchain developer since 2017, with expertise in UI/UX, marketing, and community engagement. Co-founded Tangent and drove Fund9/Fund11 successes.
Role: Manages UI/UX, marketing, and outreach.
- Daniel Chan (Lead Advisor)
LinkedIn: https://www.linkedin.com/in/danielkcc
Bio: CTO of Wombat Exchange (https://www.wombat.exchange/) with deep expertise in DeFi liquidity and bridging. Provides strategic guidance.
Role: Advises on liquidity pools and cross-chain optimization.
- Additional Developers (2):
Bio: Experienced in cross-chain protocols, Plutus, and Solidity; focused on liquidity mechanics and wallet integrations.
Role: Support smart contract and testing efforts.
Development Approach:
- Agile Methodology: GitHub-hosted CI/CD pipelines and automated testing ensure quality.
- Security: Three-phase audits by AnastasiaLabs and VaccumLabs, plus bug bounty program.
- Infrastructure: AWS/DigitalOcean for scalable, resilient hosting.
- Validation: Testnet prototype in Month 4, public beta in Month 8 with 5,000+ transfers.
Prior successes and partnerships with Wormhole, DexHunter, and Chainlink confirm feasibility. Active in Cardano Summit (Dubai, 2023) and Town Halls for transparency.
[Milestones] Project Milestones
Milestone Title
Architecture & Core Development
Milestone Outputs
Outputs
The foundation of the bridge is established, leveraging Wormhole’s Portal Token Bridge and Native Token Transfers (NTT) for secure, efficient cross-chain transfers. The architecture is finalized, specifying:
- Plutus Smart Contracts for Cardano’s UTXO model to lock assets (e.g., ADA, USDC) and emit transfer messages, supporting EdDSA/Schnorr signatures (via Cardano’s Valentine update, 2023).
- Solidity Smart Contracts for Ethereum to handle ERC-20 tokens and ETH locking.
- Wormhole Messaging Hooks to integrate with the 19 Guardian nodes for Verified Action Approval (VAA) generation.
- Chainlink Oracle Framework for real-time pricing of NTT transfers (e.g., ADA/ETH).
- Wormhole Connect UI Widget for seamless wallet connectivity (Eternl, Lace, Tokeo, NuFi, Typhon, Metamask, Trust Wallet).
- Decentralized Infrastructure using Cardano SPOs for Relayer nodes, with AWS/DigitalOcean as backup for UI hosting.
- CI/CD Pipelines on GitHub for automated testing of Plutus/Solidity contracts and Wormhole integration.
Acceptance Criteria
- Architecture design, including UTXO handling and signature compatibility, is reviewed and approved by the core team and advisor Daniel Chan.
- Initial Plutus and Solidity contracts, Wormhole hooks, and Chainlink stubs are committed to the public GitHub repo.
- At least three wallet connection flows (e.g., Eternl, Metamask, Lace) are functional in staging via Wormhole Connect.
- Unit and integration tests for contracts, messaging, and wallet flows pass with 90% coverage.
- SPO-based Relayer node architecture is documented and validated.
Evidence of Completion
- Architecture diagrams and UTXO/signature specifications in GitHub wiki.
- Public GitHub commits of initial contracts, Wormhole hooks, Chainlink stubs, and CI/CD pipelines.
- Demo video/screenshots of three wallet connections via Wormhole Connect in staging.
- Documentation of SPO Relayer setup.
Delivery Month
3
Cost
75000
Progress
10 %
Milestone Title
MVP Build & Initial Audit
Milestone Outputs
Outputs
The Minimum Viable Product (MVP) is delivered, supporting:
- Lock-and-Mint Transfers for USDC and USDT via Wormhole’s Portal Token Bridge, minting wrapped tokens (e.g., wUSDC on Cardano, wADA on Ethereum).
- NTT Transfers for native ADA and ETH, synchronizing state without wrapping.
- Cross-Chain Validation on Cardano and Ethereum testnets, using Wormhole’s Guardian Network for VAA verification.
- Expanded Wallet Support, ensuring connectivity for all supported wallets (Eternl, Lace, Tokeo, NuFi, Typhon, Metamask, Trust Wallet) via Wormhole Connect.
- Decentralized Relayers deployed via Cardano SPOs for automated VAA delivery, with AWS/DigitalOcean backups.
- Initial Audit by AnastasiaLabs, focusing on Plutus/Solidity contracts, UTXO handling, Wormhole messaging, and Chainlink integration.
- Wormhole Security Features, including Global Accountant (asset peg monitoring) and Governor (suspicious transfer delays).
Acceptance Criteria
- Testnet transfers (USDC, USDT via Portal; ADA, ETH via NTT) execute with <30-second finality and no errors.
- All supported wallets connect, authenticate, and initiate transfers via Wormhole Connect.
- AnastasiaLabs audit report confirms no high-severity vulnerabilities in contracts or messaging.
- SPO-based Relayers achieve 99% uptime in testnet, with failover to AWS/DigitalOcean validated.
- Global Accountant and Governor are integrated and pass testnet validation.
Evidence of Completion
- Testnet transaction hashes for USDC/USDT and ADA/ETH transfers.
- AnastasiaLabs audit report (PDF) published on GitHub.
- Public GitHub commits of updated contracts, Wormhole hooks, and Chainlink integration.
- Logs of Relayer uptime and failover tests.
- Demo video of wallet transfers via Wormhole Connect.
Delivery Month
6
Cost
200000
Progress
40 %
Milestone Title
Public Beta & Community Feedback
Milestone Outputs
Outputs
The public beta enables real-user testing on Cardano and Ethereum testnets, supporting:
- Transfers of USDC, USDT, ADA, and ETH (Portal for USDC/USDT, NTT for ADA/ETH).
- Full wallet integration via Wormhole Connect, ensuring seamless UX across all supported wallets.
- Chainlink oracle coverage for accurate pricing of NTT transfers.
- Community Feedback Loop via Discord, GitHub issues, and surveys to refine UX and add token pairs.
- Second Audit and Penetration Testing by VaccumLabs, covering Plutus/Solidity contracts, Wormhole messaging, and Relayer security.
- Monitoring Tools, including Wormholescan integration for transaction tracking and analytics.
- Iterative Refinements based on community feedback, focusing on UI/UX and transfer performance.
Acceptance Criteria
- 500+ successful beta transfers by real users, with transaction logs and <1% failure rate.
- Feedback documented and prioritized, with at least 10 GitHub issues resolved in changelogs.
- VaccumLabs audit and penetration test report confirm no critical vulnerabilities.
- Wormholescan dashboards show real-time transfer metrics (volume, latency).
- System achieves 99.9% uptime with SPO-based Relayers.
Evidence of Completion
- Beta analytics report (transaction volume, failure rate) on GitHub.
- VaccumLabs audit and penetration test reports (PDFs).
- GitHub changelogs showing feedback-driven fixes.
- Screenshots of Wormholescan dashboards and community feedback (Discord, surveys).
Delivery Month
8
Cost
150000
Progress
60 %
Milestone Title
Final Security Review & Mainnet Readiness
Milestone Outputs
Outputs
The bridge is prepared for mainnet deployment, with:
- Final Audits by AnastasiaLabs and VaccumLabs, covering Plutus/Solidity contracts, Wormhole messaging, NTT, and Chainlink integration.
- $100,000 Bug Bounty Program launched to incentivize security research, hosted on a platform like Immunefi.
- Final Deployment Candidate tagged in GitHub, passing all CI/CD tests and ready for mainnet.
- Roadmap Document published, outlining expansion to additional chains (e.g., Solana, Polygon) and features (e.g., NFT bridging, advanced NTT pairs).
- SPO Relayer Network fully operational, with AWS/DigitalOcean as fallback and IPFS for documentation storage.
Acceptance Criteria
- Audit reports confirm no critical vulnerabilities in contracts, messaging, or integrations.
- Bug bounty program is live with clear scope and payout tiers, publicized on GitHub and eth2ada.com.
- Deployment candidate passes 100% of CI/CD tests and is tagged in GitHub.
- Roadmap is approved by the team and published for community review.
- SPO Relayers achieve 99.9% uptime in final tests.
Evidence of Completion
- AnastasiaLabs and VaccumLabs audit reports (PDFs) on GitHub.
- Bug bounty program announcement and link on GitHub and project website.
- GitHub tag for deployment candidate and CI/CD test logs.
- Roadmap document in GitHub wiki.
Delivery Month
9
Cost
125000
Progress
80 %
Milestone Title
Mainnet Launch & Ecosystem Growth
Milestone Outputs
Outputs
The bridge launches on Cardano and Ethereum mainnets, supporting:
- Portal Token Bridge transfers for USDC and USDT.
- NTT transfers for ADA and ETH.
- Wormhole Connect for seamless dApp integration.
- Fee-Sharing Mechanism, distributing 50% of ADA-based fees to users and 50% to community incentives via Plutus contracts.
- Marketing Campaign, including X Spaces, webinars, AMAs, and partnerships with Cardano/Ethereum influencers to drive adoption.
- Real-Time Monitoring via Wormholescan dashboards, showing uptime, transaction volume, and fee distribution.
- Support for emerging Cardano-native tokens (e.g., stablecoins) via NTT, ensuring future-proofing.
Acceptance Criteria
- Mainnet transfers execute with <30-second finality and <1% failure rate.
- Fee-sharing distributions are validated via on-chain transaction logs, with 50,000+ ADA distributed.
- Marketing campaigns achieve 1,000+ event attendees and 5,000+ unique wallet connections.
- Wormholescan dashboards are publicly accessible, showing consistent uptime and performance.
Evidence of Completion
- On-chain transaction hashes for mainnet transfers (USDC, USDT, ADA, ETH).
- Fee distribution logs showing 50,000+ ADA payouts.
- Marketing event reports (attendance, recordings) on GitHub.
- Screenshots/links to Wormholescan dashboards.
Delivery Month
11
Cost
125000
Progress
90 %
Milestone Title
Close-Out Video & Final Reporting
Milestone Outputs
Outputs
The project concludes with full transparency:
- A close-out video summarizing technical development, audit results, user adoption (15,000+ transfers, 7,500+ wallets), fee-sharing (100,000+ ADA), and community impact.
- A Catalyst completion report detailing budget utilization, KPI performance (15,000+ transfers, 2M+ ADA volume, 75+ GitHub contributions), audit findings, and feedback.
- An updated roadmap for future chain integrations (e.g., Solana, Polygon) and features (e.g., NFT bridging).
- All outputs are published on GitHub, Catalyst portal, and YouTube, promoted via X and Cardano Town Halls.
Acceptance Criteria
- Completion report meets Catalyst standards, documenting deliverables, expenditures, and metrics.
- Close-out video demonstrates 15,000+ transfers, wallet adoption, and fee-sharing, with stretch goal of 25,000 transfers.
- Roadmap is updated based on community input and published publicly.
- All outputs are accessible via GitHub, Catalyst, and YouTube.
Evidence of Completion
- Catalyst completion report on GitHub and Catalyst portal.
- YouTube link to close-out video, promoted on X and Cardano Town Halls.
- Updated roadmap in GitHub wiki.
Delivery Month
12
Cost
75000
Progress
100 %
[Final Pitch] Budget & Costs
Please provide a cost breakdown of the proposed work and resources
Smart Contract Development: 300,000 ADA
- Plutus/Solidity contracts for Portal Token Bridge and NTT, supporting Cardano’s UTXO model.
Wormhole & Oracle Integration: 200,000 ADA
- Wormhole messaging (Portal, NTT, Connect) and Chainlink API fees for pricing
- Fee-sharing mechanisms and validation.
UI/UX Design: 100,000 ADA
- User interfaces for multi-wallet support.
- Prototyping and user research.
Marketing & Community Engagement: 100,000 ADA
- Campaigns via X, webinars, and community incentives.
- AMAs and events for adoption.
Infrastructure & Security: 50,000 ADA
- AWS/DigitalOcean hosting with redundancy.
- Audits by AnastasiaLabs/VaccumLabs and bug bounty.
Total: 750,000 ADA
[Final Pitch] Value for Money
How does the cost of the project represent value for the Cardano ecosystem?
The Ethereum to Cardano Multi-Asset Bridge offers outstanding value by:
- Driving Interoperability: Enables 15,000+ transfers, bridging Ethereum liquidity to Cardano.
- Boosting ADA Utility: Distributes 100,000+ ADA in fees, enhancing token demand.
- Onboarding Users: Attracts 7,500+ wallets, growing the ecosystem.
- Fostering Innovation: Open-source code yields 75+ contributions for expansions.
- Scalable Infrastructure: Targets 2M+ ADA volume, with audits ensuring security.
The 750,000 ADA budget leverages our Fund9/Fund11 expertise for efficient delivery, yielding high ROI through cross-chain growth and Cardano's DeFi leadership.
[Required Acknowledgements] Consent & Confirmation
Terms and Conditions:
Yes