Bridging Cardano to Onomy & Beyond
Problem
Value must easily flow in & out of the ADA economy. The cost of no bridges is the inability for ADA to access established DeFi ecosystems.
Solution
Create a bridge between Cardano and Onomy (Cosmos IBC Framework Integrated) to open value transfer to and from many blockchain economies
Total to date
This is the total amount allocated to Bridging Cardano to Onomy & Beyond.
About this idea
Leverage and modify Althea's Gravity Bridge to construct a bridge between Cardano and Cosmos. This delivers a major value proposition to Cardano, ATOM, and Onomy NOM holders. Cardano will have a functioning Cardano and Cosmos bi-directional bridge as well as the ability to bridge from Ethereum to Cardano by way of the Onomy Backbone. Developers in Cardano and Cosmos ecosystems will be able to take advantage of the bridge technology to deliver new DeFi products and services that are not currently possible.
We anticipate the initial budget to be $25K to achieve the following:
• 1 month goal: Convert and test current ETH to Cosmos bridge contracts with Cardano testnet
• 3 month goal: Testnet running with bridge running between Onomy & Cardano (Cardonomy)
• 6 month goal: Deploy Cardonomy on both Cardano and Onomy main-nets
What success looks like for us: Important KPIs is to build product capability, complete successful transfers, and successful reward payment to bridge operators.
Cardonomy!
25000Team
- Gravity Bridge Implementation (Cosmos to ETH)
- Partnered with RINA (Catalyst Funded) & Cardano SPOs to bootstrap bridge.
