Short Story

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Problem statement :

Wrapping Ethereum tokens will add liquidity to the Cardano ecosystem and allow Ethereum users to enjoy scalable Cardano dApps.

Describe your solution to the problem

The WETHER station allows users to deposit Ether and mint a wrapped Ether token with 1:1 correspondence, as well as withdraw WETHER to ETHER

Relevant experience

6 years enterprise cloud architect, with a specialization in FinTech & security. Haskell enthusiast, and Solidity nerd.

Detailed plan (not required) – Fill in here any additional details

Service Implementation:

The program accounts for:

– Storing Ether in accounts

– Minting WETHER tokens in Ada

– Exchanging WETHER for Ether

Account creation and storage is built on a secure contract creation, where the ledger of WETHER users is kept decentralized on-chain in Ethereum. To mint a WETHER token, off-chain Plutus code reads from the state of the Ethereum smart contract to validate user requests. The ledger data will be represented in Cardano Oracles in order to move as much business logic to on-chain code as possible. Minting WETHER produces a new ledger on-chain in Cardano. This custom asset will then be exchangeable within Cardano.

Frontend UI

A website and browser extension would be created. This GUI will manage the minting and withdrawal of assets. For power users, a REST API will also be exposed. Further development would include a command line interface.

Importantly, these clients can run entirely in the user’s local session, without requiring a central database for account management. In this way, no customer information needs to be stored in a central server.

Requested funds in USDย 30000

Which of these definitions apply to you?ย Developer

Tags

Wrapped Ether – The WETHER token ๐ŸŒง

Goal: $30,000.00
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