[IMPACT] Please describe your proposed solution.

There is a dire need of cross-chain interoperability and cross oracles. Currently the following things are missing in the deFi space:

• Dynamic oracles solution: There is no decentralised oracle solution that allows to bring real world data easily, instantly and securely onto the blockchain.
• Cross-chain interaction: There is no decentralized solution that allows to ship data from one blockchain to another in a decentralized fashion. The next step after developing dynamic oracles is to have dynamic cross-chain interaction.

To enable Cross-chain interaction between polkadot and Cardano ecosystem SaaS3 proposes:

Cardano-Polkadot Interoperability Protocol (CPIP)

Is an open-sourced standard for developers to easily build secure cross-chain services and applications via a universal messaging interface, smart contracts can communicate from Polkadot smart contract to Cardano smart contracts and vice-versa. CPIP will eliminate the need for developers to write custom code for building chain-specific integrations.

Cardano-Polkadot Interoperability Protocol (CPIP) opens up a new category of DeFi applications that can be built by developers for multi-chain ecosystem. The CPIP will enable:

• Transferring data seamlessly; this also means that while exchange smart contract data between the 2 blockchains, CPIP will also act as a cross-chain bridge for all oracles currently built on either Cardano or Polkadot.
• Transferring funds seamlessly.

How do we do it

SaaS3 is a permissionless oracle network. SaaS3 leverages Permissionless Oracle Network (PoN) to create secure oracles that protect on-chain assets and logics feeded onto the blockchain via the oracle. The PoN enables any kind of web2 API to provide web3 service easily and permissionlessly by the SaaS3 decentralized serverless runtime (dRuntime), the dRuntime enables SaaS3 miners to run apis offchain and feed the data into the blockchain. Viability and security of the data is ensure by:

• Proof of Stake (PoS): Users are required to stake $SAAS tokens to be eligible participants who provide computational power, these participants are referred to as miners in the SaaS3 ecosystem and they gain rewards by providing trustless off-chain computation power to the dRuntime and uploading the oracle data onto the blockchain. The PoS acts as an incentive mechanism for the miners to upload correct data.
• delegated Proof of Stake (dPoS): 3rd party users can stake against trusted apis or miners. This creates an ecosystem where miners performing true operations for an extended period of time is trusted by the community and thus inturn is able to increases his PoS capacity which in turn increases their chance of mining.
• Light Proof of Work (LPoW): Each Miner receives a LPoW puzzle which they have to solve and give back. This LPoW is a basic puzzle which determines the computation power and network latency of miners and enables the top 3 LPoW solvers to be eligible to become miners for a dRequest for uploading data onto the blockchain.
• Zero Knowledge Check (3-zkc) mechanism: For one web2 api call (dRequest) 3 miners are selected and required to input data. The 3-zkc is an on-chain aggregation method which filters true data and determines the final result to send as the oracle response to dApp smart contracts.

Note: We just summed up all of the processes regarding dRuntime, PoS, dPos, LPoW and 3-zkc in a brief manner. To access in detail technical information about SaaS3 users can refer to the whitepaper: https://www.saas3.io/file/SaaS3Whitepaper.pdf

Dapp developers are no longer required to rent a centralized AWS server to host their oracle software and no longer require permission from a centralized organization such as Chainlink and API3 to deploy their customizable oracles to support more data sources and trustful off-chain computations. SaaS3 is based on Polkadot ecosystem and will be integrated with more public chains.

Important point about SaaS3

SaaS3 miners would averagely earn a little more than twice than ETH Miners. To refer to the detailed calculation we advise users to read the C. SaaS3 Miners vs ETH Miners in the glossary of the whitepaper. The whitepaper can be accessed via : https://www.saas3.io/file/SaaS3Whitepaper.pdf

[IMPACT] Please describe how your proposed solution will address the Challenge that you have submitted it in.

CPIP provides a single-messaging interface for all Cardano-Polkadot communication. It enables easy integration into any smart contract application with only a few lines of code, ensuring developers don’t waste effort in writing custom code to integrate separately with each chain. It will enable hundreds of additional polkadot oracle nodes to efficiently achieve off-chain consensus and securely validate cross-chain transactions to provide service for Cardano ecosystem.

[IMPACT] What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?

Risk: Would include having no funds to develop the Cardano-Polkadot Interoperability Protocol (CPIP).

Solution: We solve this be applying to the Fund9 catalyst program.

Risk: Smart contract vulnerabilities have a high possibility to emerge due to human errors.

Solution: We solve this problem by going through intensive audits via 3rd party auditors.

[FEASIBILITY] Please provide a detailed plan, including timeline and key milestones for delivering your proposal.

2022 Q3

Technical whitepaper delivering

2022 Q4

An initial ChainBridge based protocol online.

2023 Q1

Test version CPIP Online.

2023 Q2

CPIP Online with detailed technical documentation.

[FEASIBILITY] Please provide a detailed budget breakdown.

2022 Q3 Technical whitepaper delivering. 30000 USD

2022 Q4 An initial ChainBridge based protocol online. 30000 USD

2023 Q1 Test version CPIP Online. 40000 USD

2023 Q2 CPIP Online with detailed technical documentation. 30000 USD

The cost incurred will include:

• Currently SaaS3 team is working part-time, thus to work full-time sustainable basic salaries are to be provided to the team.

• Audits: One of the most important process for a blockchain solution is smart contract audits, since SaaS3 is an oracle solution additional oracles will also be required for the system.

• Misc: This is an important section that will encompass for all unforeseen to be incurred costs such as additional resource procurment, sudden price change in ADA, additional audits, legal services, etc.

  [FEASIBILITY] Please provide details of the people who will work on the project.

Steven Wong (General Manager, Technical Specialist)

• Responsibilities: Business Idea & Innovation, Formulation of Whitepaper, Design of Blockchain Architecture, Business Development.
• Linkedin: Steven Wong - GM & Technical Specialist - LayerX Lab | LinkedIn
• Notes:
• Ph.D. in Computer Science.
• Start Programming at the Age of 14.
• National Informatics Olympiad (NOIP) Winner at Age of 16.
• Guaranteed/Recommended Admission to University from High School skipping Entrance Exam at Age of 17.
• Senior Software Engineer for the world’s leading lucrative Game [梦幻西游, Fantasy Westward Journey, $2.4bn as of March 2022].
• Over 10 Hackathon Awards including BOP of Microsoft (1/20000).
• Over 10 Publications at Top-conference & Journal during Ph.D. Research [Google Scholar]
• Interviews with 0011.one, Zhihu

Rocky Joeng (CTO)

• Responsibilities: Business Idea & Innovation, Co-authoring of Whitepaper, Architecture/ Algorithm Design for dAPI / dRuntime, Product Management, Research & Technology Resources Provider
• Linkedin: Jianfei Yang - Presidential Postdoctoral Fellow, Principal Investigator - 新加坡南洋理工大学 | LinkedIn
• Notes:
• Ph.D. in Computer Science
• Principal Investigator, Presidential Postdoctoral Fellow at NTU
• Chief Scientist of Singapore Smart City Project
• Over 20 Hackathon Awards
• Over 70 Publications at Top-conference & Journal
• [Google Scholar]
• Award Winner Certificates
• Achievements with wide media coverage

Israel Goytom (Developer)

• Responsibilities: Business Innovation, dAPI Development, Technology & Partner Resources Provider
• Linkedin: Israel Goytom - Co-Founder and CTO - Chapa™ | LinkedIn
• Notes:
• CTO of Chapa
• Previous Researcher in MILA, Google Brain

Nael Hailemariam (Project Manager)

• Responsibilities: Project Management, Partner, Resources Provider
• Linkedin: Nael Hailemariam - Co-Founder and GM - Chapa | LinkedIn
• Notes:
• CEO of Chapa
• Master of Science at Tsinghua University

Daksh Joshi (CPO)

• Responsibilities: System Design, Business Development

• Linkedin: https://www.linkedin.com/in/daksh-joshi-6676a91a7/

• Notes:

• CEO of GlobalXchange.trade

• DeFi protocol analyst

• Launched 4+ DeFi projects

  [FEASIBILITY] If you are funded, will you return to Catalyst in a later round for further funding? Please explain why / why not.

Yes.

[AUDITABILITY] Please describe what you will measure to track your project’s progress, and how will you measure these?

Follow our road map along with github announcement as well as Twitter @SaaS3Lab

[AUDITABILITY] What does success for this project look like?

Success will mean successfully creating a standardized interface for smart contracts to send messages between Cardano-Polkadot. With a single method call, developers can communicate across polkadot oracles. Data sent across blockchain networks can be encoded and decoded in any manner, providing developers a large degree of flexibility while eliminating the complexity in building chain-specific integrations.

[AUDITABILITY] Please provide information on whether this proposal is a continuation of a previously funded project in Catalyst or an entirely new one.

An entirely new one.