[IMPACT] Please describe your proposed solution.

Problem

There is no decentralised oracle solution that allows to bring real world data

• easily,
• instantly and,
• securely onto the blockchain.

Solution

SaaS3 aims to connect real-world computation and data feeds to blockchain in a:

• Decentralized
• Secure and,
• Permissionless manner.

SaaS3 leverages Permissionless Oracle Network (PoN) to eliminate the security issues to protect on-chain assets and logics. Any kind of web2 API can be easily and permissionlessly deployed on SaaS3 decentralized serverless runtime (dRuntime) making oracles more similar to a smart contract.

Cardano Dapp developers would no longer require to rent a centralized AWS server to host their oracle software and to get data from permissioned centralized oracles (having a limited number of oracles and being susceptible to hacks) such as Chainlink or API3.

With SaaS3, Cardano smart contract developers would be able to deploy customizable oracles to support more data sources from a trustless off-chain computational network (SaaS3 serverless decentralized Runtime).

How do we do it

As mentioned, 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 in 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 summed complicated processes regarding dRuntime, PoS, dPos, LPoW and 3-zkc in a brief manner. To access in detail technical information about SaaS3 architecture users can refer to the whitepaper. The whitepaper can be access 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.

SaaS3 oracles provide a dynamic architecture where any web2 api can be converted into DAPIs to act as an oracle and provide web3 services. Thus we have applied for a grant under F9: Dapps, Products and Integrations.

[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: The biggest risk SaaS3 could have is not enough miners to join the SaaS3 network to provide computation.

Solution: We have devised the earning mechanism of SaaS3 miners as such that they would averagely earn a little more than twice than ETH Miners. To refer to the detailed calculation we advise users to read the section 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

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.

Risk: Would include having no funds to develop the project

Solution: Applying to the Fund9 catalyst program.

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

• Q3 2022 (September), Phase I - Genesis

• Three core modules complete

• The first batch APIs

• Q4 2022 (December) Phase II - Propellor

• Miner module complete

• TestNet online

• Private round for funding-raising

• Q1 2023 (March) Phase III - Connectivity

  SaaS3 Online

• Q3 2023 (September) Phase IV - Fusion

Ethereum & BSC Support

• Q4 2023 Phase V - Prospero

  Ecosystem Development

Multichain

[FEASIBILITY] Please provide a detailed budget breakdown.

• Q3 2022 (September), Phase I - Genesis 40000 USD

• Three core modules complete

• The first batch APIs

• Q4 2022 (December) Phase II - Propellor 40000 USD

• Miner module complete

• TestNet online

• Private round for funding-raising

• Q1 2023 (March) Phase III - Connectivity 50000 USD

  SaaS3 Main Net Online

• Q3 2023 (September) Phase IV - Fusion 40000 USD

Ethereum & BSC Support

• Q4 2023 Phase V - Prospero 50000 USD

  Ecosystem Development

Multichain

[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.

No, we do not plan to come back for another round of funding and expect to build the entire oracle system with the grant received from this proposal.

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

We track our progress via our road map, users can track our development from our github, we will be making regular announcement of each milestone as well through our Twitter @SaaS3Lab

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

A permissionless oracle network makes an oracle just like a smart contract, serve for Cardano Dapps.

With the successful deployment of SaaS3, users on Cardano will be able to:

• Instantly create smart contracts that directly interact with real world data (whether, price of land, etc)

• Onboard any type of data through a safe and secure mechanism, even data from another blockchain.

  [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.