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Cardano Foundation

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For the January edition of the Spotlight Article, we interviewed Robert Hever, COO / Co-Founder, and Damon Zwarich, CMO / Co-Founder from Charli3.

Hey Robert and Damon! Happy to connect today and learn more about the Charli3 project! Can you tell us more about the project and the problem you were addressing?

Charli3 is a decentralized oracle solution natively built in Haskell / on the PAB (Plutus Application Backend). We held our Initial DEX Offering in April 2021 and set out to solve the following three problems.

  1. General oracle problem: Smart contract solutions need accurate, reliable, secure, and trusted off-chain data that fit their requirements (e.g., for speed). There is a need for aggregation of data to provide a trusted source to the chain (e.g., many single sources with conflicting values).

  2. Cardano problem: There are no blockchain agnostic solutions. The current solutions are paired with network lag and high update fees. The barrier of entry to support launching Cardano projects is that the oracles must be built from scratch, natively with Haskell/Plutus code.

  3. Decentralization problem: We see centralized oracle solutions, where one party is the governing authority on who gets what data and from where. We see centralization as part of the current financial system’s problem. We hope to solve that problem by being as “hands-off” as possible with our ecosystem solution.