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Dear Cardano Community,
We ask you to support two Charms Inc. proposals during Catalyst Fund 15 to achieve trustless, universal asset interoperability for Cardano with both Bitcoin and Ethereum. 🟠🤝🔵🤝⚫
Tools built in collaboration with @0xLita and @BTC_OS.
Details and links to both proposals are below. 👇🧵
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1️⃣Onchain Verification of Valida zkVM SNARK Proofs (Primary Proposal)
A proposal for Charms Inc to team up with @0xLita to build a SNARK wrapper for Valida zkVM proofs over the BLS12-381 elliptic curve, and an Aiken smart contract to verify these proofs onchain on Cardano.
This proposal delivers a permanent upgrade to Cardano’s smart-contract capabilities, enabling it to act as a verification layer for off-chain programs written in any language: Rust, C, or any language compiling to Wasm is fair game.
As a result, it will enable trustless Bitcoin-Cardano asset interoperability: Cardano smart contracts will be able to directly verify any offchain program, including Charms proofs.
Through this, all charms assets and CNTs will be able to move between Bitcoin and Cardano *trustlessly.* 🟠
It will also enable verification of state in Web2.0 applications and systems (e.g. user logins, emails, bank transactions, CashApp payments, etc), massively opening the Cardano dapp design space at large.
🔗Full Proposal: projectcatalyst.io/funds/15/carda…
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2️⃣Ethereum X Cardano Asset Transfers Via Charms Protocol with @BTC_OS (Secondary Proposal)
A proposal for Charms Inc. to team up with @BTC_OS to upgrade Charms with Ethereum compatibility, letting CNTs become fully portable to Ethereum as ERC-20s. Likewise, any ERC-20 token may be seamlessly transported to Cardano as a CNT.
This provides a secure alternative to bridges, reducing risk/trust assumptions for users and dApps across the ecosystem.
Every Cardano Native Token (CNT) gains trustless access to Ethereum’s massive liquidity, creating larger markets for Cardano tokens, more trading volume for Cardano-native assets, and increased usage and visibility for the broader community.
Popular ERC20 tokens can move into Cardano’s ecosystem, including long sought after stablecoins like USDT and USDC. Ethereum asset holders looking for a more secure DeFi experience will have no issue moving their tokens to Cardano instead.
With maximal interoperability, Cardano will attract developers looking for multi-chain reach, knowing it is safe to build a CNT and be compatible under the popular ERC20 standard later.
🔗Full proposal: projectcatalyst.io/funds/15/carda…
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Thank you for your support,
Charms Inc💎

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