Detailed Plan
We are working closely with Gabriel Cardona, of AvaLabs, to design the architecture and implementation plans. Our engineers are already deeply integrated and have built an Avalanche based NFT solution.
This proposal has the intention to build this AVAX-ADA bridge in a way that gives Cardano developers a headstart with cross-chain interoperability. It will be open source and fully documented, that will allow others to easily build on top of it—their own specific DeFi solutions.
There is currently no Cardano virtual machine on the Avalanche platform. This is preventing teams from being able to launch their own instance of the Cardano network in a similar fashion to the explosion of EVM instances that we've seen across the blockchain space over the last couple of years (Ethereum, Polygon, Avalanche C-Chain and BSC etc)
The recent ADAFi news shows the value and importance of a solution like this for the rest of the community to have quick access to a Cardano VM/Subnet that isn't proprietary but open for all to leverage. (https: //cryptosnewss.com/ada-finance-wins-best-defi-project-of-the-year/)
As we are keeping in close contact with Avalanche engineering, it came to our attention the beginning of December their API is undergoing a complete refactoring. Therefore, we've been asked to postpone a full production of a Cardano VM/Subnet until 2Q22. Therefore, we are redirecting this proposal to ensure we are prepared for when that new API is released by focusing on the research required to be up to speed with all the changes they make to the API structure and any nuances that are impacted by this refactoring so we can build it as quickly as possible when the new API is released.
PLAN
Open Research Project
1. Keep up with the Avalanche engineering team, any new developments and changing requirements to implementing the VM and Subnet.
2. Document the changes to include in the next proposal, where we will build the solution VM/Subnet.
Next Steps
1. Resubmit a similar proposal in Fund 8. Hopefully the Challenge being proposed in this Fund 7 (https://cardano.ideascale.com/a/dtd/Cross-Chain-Collaboration/381705-48088) gets voted on favorably because everyone sees the wisdom of working together. We will plan to submit this in that Challenge.
BUDGET
$9,600 total cost
Detailed use of funds
<u>Time/hrs Task</u>
80 Research and Communications with AvaLabs
40 Documentation
120 Total Hours
$80 Hourly Rate
120 x $80/hr = $9,600
12 Weeks to completion (thru 1Q22)
DELIVERABLE
Functional Research on the Avalanche API changes to quicken delivery of a Fund 8 proposal solution
Definition of Success:
Month 1:
Assign engineer to communicate with Avalanche engineering
Month 2:
Document significant changes in the API and requirements to build VM/Subnet
Month 3:
Submit new Fund 8 Proposal
Month 6 -12:
N/A
Requested funds in USD 9,600
Co-Submitters
NFT-DAO - Team with various degrees and backgrounds, full team of developers and contractors from around the globe, several full stack engineers, several marketing members
Larry Beck - VP of Engineering with a 25 year history in IT, software security systems, technology, worked in CC security for Goldman Saks, Apple, and others.
Justin Thwaites - Full Stack engineer, Atala Prism Pioneer, API integrations specialist, Avalanche solution developer
Reference Material:
Excerpt from https://cardano.ideascale.com/a/dtd/Cross-Chain-Collaboration/381705-48088
This is an open-ended challenge that welcomes any proposal geared for cross-chain collaboration, co-innovation and interoperability. These can be any community-led projects, initiatives, solutions, tools or services. It could mean for instance:
New technical implementations connecting Cardano to other blockchains and vice versa (SDKs, APIs, bridges etc)
Boasting a throughput beyond 4,500 tps and near-instant finality, the EVM-compatible Avalanche has quickly become the go-to choice for multiple DeFi projects. It has an innovative multi-chain architecture that utilizes both DAG and Blockchain technologies.