Multisig For Building EVM Bridges
Problem
Multisig currently exists in the Cardano ecosystem, however there is no go-to solution to coordinate sharing and signing the transaction
Solution
Build a Cardano multisig coordination Solidity contract to create Cardano multisig transactions using any EVM chain as a middleware
Completed outcome
Total to date
This is the total amount allocated to Multisig For Building EVM Bridges.
About this idea
NB: Monthly reporting was deprecated from January 2024 and replaced fully by the Milestones Program framework. Learn more here
When we are looking to build robust decentralized protocols this centralization is a heavy choke point which must be addressed. This is double so when we move into the realm of building cross-chain bridges between Cardano and other chains.
We will be building a Cardano multisig coordination Solidity smart contract which allows coordinating and creating Cardano multisig transactions using any EVM-compatible chain as a middleware. This will be used as a key part of Milkomeda (https://milkomeda.com) to facilitate moving assets from the M1 sidechain to Cardano mainnet.
This will also provide one of the foundational building blocks for creating decrentalized bridges to any EVM compatible chain. The contracts will be general enough so that one day they could theoretically be used to build more decentralized bridges to Ethereum as well.
Team
Our team is composed of well known ex-Emurgo and ex-IOHK employees who have been building the Cardano ecosystem for the past several years
