Please describe your proposed solution

Bridges like Rosen Bridge enhance liquidity and interoperability, connecting Cardano to new ecosystems like SUI. This connectivity benefits all participants by creating a more integrated market.

Enhancing Market Access and Liquidity

Rosen Bridge enables seamless asset transfers between Cardano and SUI, ensuring liquidity flows freely across networks. This increases overall digital asset liquidity, facilitating easier investment and resource access for projects.

Supporting Stablecoins and DeFi Applications

Stablecoins are crucial for providing stability in the crypto economy. Rosen Bridge supports stablecoin transfers between Cardano and SUI, enhancing their adoption and use in DeFi applications. This cross-chain compatibility strengthens the DeFi ecosystem, making it more resilient and interconnected.

Diversifying Investment Opportunities

Rosen Bridge allows investors to diversify portfolios across Cardano and SUI without friction, optimizing returns and mitigating risks. This ease of asset transfer encourages greater market participation and investment, driving growth and maturity.

Please define the positive impact your project will have on the wider Cardano community

Diversifying Investment Opportunities

Rosen Bridge allows investors to diversify portfolios across Cardano and SUI without friction, optimizing returns and mitigating risks. This ease of asset transfer encourages greater market participation and investment, driving growth and maturity.

Fostering Innovation and Collaboration

Rosen Bridge fosters collaboration between Cardano and SUI communities. Developers can create hybrid solutions, leveraging the strengths of both networks for superior performance and functionality. This innovation pushes the boundaries of blockchain technology.

Community Growth and Ecosystem Expansion

Bridges like Rosen Bridge enable interactions between Cardano and SUI users, developers, and projects, enriching the community and expanding the ecosystem. Increased participation fosters a vibrant, dynamic crypto landscape.

What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Rosen bridge has a history of delivering open source code creating a unique bridge standard. Members of this proposal and advisory team have strong experience in the blockchain sector and have delivered (and delivering) a number of successful products for the Ergo and Cardano ecosystems. The team are strong advocates of open-source technology and have examples to show for this. As such, they will continue leveraging their experience to ensure timelines and milestones are met.

• Delivery of the Rosen Bridge framework in previous funds - Bridge is Live now (Check Github)

What are the key milestones you need to achieve in order to complete your project successfully?

Milestone 1: Research:

• In-depth analysis of existing SUI infrastructure
• Identifying potential security risks for SUI bridging
• Understanding the unique requirements of the Cardano and SUI ecosystems for Rosen Bridge to be deployed.

Preparation:

• Setting up the necessary infrastructure and tools for development, including software licenses, server costs, and other technical resources.

Design:

• Development of architectural plans and protocols for the bridge, ensuring robust security and efficient functionality.
• This includes the creation of technical specifications and design documents.

Milestone 2: - Module Development: Building core components such as scanners, verification methods, and communication channels. This involves coding, debugging, and initial unit testing.

• Integration Testing: Ensuring that individual modules work seamlessly together. This includes the allocation of resources for comprehensive testing environments.

• Quality Assurance: Rigorous testing to identify and fix bugs, and to validate the functionality of the modules against the design specifications.

Milestone 3: - Development of Multisig Mechanism: Creating a secure multi-signature system for both hot and cold wallets, crucial for enhancing the security of cross-chain transactions.

• Security Testing: Extensive testing of the multisig system to ensure it is hack-proof and meets high-security standards.

• Integration: Seamlessly integrating the multisig system with the existing bridge infrastructure.

Milestone 4: - Code Integration: Merging the developed modules with the existing Rosen Bridge codebase. This includes ensuring compatibility and efficient performance.

• UI/UX Development: Designing and implementing user interfaces and user experiences for both watchers and guards, enhancing usability and accessibility.

• Final Testing: Conducting end-to-end tests to ensure all components work harmoniously.

Milestone 5: - Testnet Deployment: Launching the bridge on testnets to simulate real-world usage and identify any unforeseen issues.

• Community Testing: Engaging with the community for beta testing, gathering feedback, and making necessary adjustments.

Final Milestone: - Documentation: Preparing comprehensive documentation for developers and users, detailing the bridge's functionality and usage

• Mainnet Launch: Rolling out the bridge on the Cardano and SUI mainnets, marking the project's culmination.

• Monitoring Tools: Setting up systems to monitor the bridge's performance and security in real-time.

• Post-Launch Support: Allocating resources for immediate support and maintenance post-launch to ensure smooth operation.

Who is in the project team and what are their roles?

<u>Core team:</u>

• Mohammad Hasan Samadani (Lead Developer): Lead developer for the Rosen Bridge project + SuSy Bridge (Wormhole). Holds a PhD in computer science and has over 12 years experience in security, software development, and team management. Designed various applications for the Ergo ecosystem.

• Joseph Armeanio (Project Lead): Currently a Board Member and Manager of Business Development of the Ergo Foundation.

• Daniel Friedman (Education and User Onboarding Lead): Currently an advisor to the Ergo Foundation and Co-Founder of zenGate Global. Previously, he was part of the IOHK early-founding team that helped launch the Cardano blockchain.

• Theodore Morisis (SPO and Watchers Coordination Lead): Operator of the Chef Stake Pool, community educator and Cardano Ambassador. Theodore also works as a community manager for zenGate Global.

<u>Subject Matter Experts:</u>

• Alexander Chepurnoy (Code Auditing Support): Co-founder of the Ergo Blockchain and smartcontract.com (now Chainlink). One of the first employees at IOHK, as a researcher fellow and manager for the Scorex Project. Active in blockchain since 2011 and has 20+ academic papers contributed to the industry.

• Sam Lambert (Project Management and User Onboarding Support): Co-Founder of zenGate Global. Previously, worked as a management consultant at Oliver Wyman and helped set up the Global Digital Assets practice. Worked with some of the largest banks, insurance and telecommunications companies around the world.

Please provide a cost breakdown of the proposed work and resources

Milestone 1: Research, Preparation, and Design - 150,000 ADA

Milestone 2: Implementation and Testing of Modules - 100,000 ADA

Milestone 3: Implementation of Multisig Signatures - 100,000 ADA

Milestone 4: Integration of Modules into Current Code Base - 50,000 ADA

Milestone 5: Testing and Deployment on Testnets - 50,000 ADA

Milestone 6: Deployment on Mainnet - 50,000 ADA

No dependencies

How does the cost of the project represent value for money for the Cardano ecosystem?

The investment in Rosen Bridge represents a commitment to broadening the horizons of Cardano, enabling it to seamlessly interact with other major blockchain networks. This interconnectivity is crucial for several reasons:

• Increased Liquidity: By connecting with SUI Cardano native tokens gain access to a much larger pool of liquidity. This is vital for the growth of DeFi projects within the Cardano ecosystem, as it allows for more fluid and dynamic financial interactions.
• Enhanced Accessibility: The bridge reduces the barriers to entry for users and developers from other ecosystems. This inclusivity fosters a more diverse and robust community, leading to innovative projects and collaborations.
• Ecosystem Growth: With greater liquidity and accessibility, the Cardano ecosystem is poised for accelerated growth. It opens up new avenues for developers, entrepreneurs, and users to explore, experiment, and create value within the Cardano framework.