Proposal: Sisu Network - Universal Private Contract Initiative

Project Title - Link

Sisu Network

Description

Based in San Francisco, CA, USA, Sisu Network is an ambitious blockchain project in decentralized infrastructure to solve universal private transaction.

Team members

  1. Billy Pham, Founder of Sisu Network: Billy has experienced engineers with a wealth of knowledge in the Bay Area. Billy has 10+ years of experience and has worked for Google and several startups
  2. Son Le, Developer @ Sisu Network: Son Le is an early engineer who was with Axie from the beginning.
  3. Thanh Nguyen, Developer @ Sisu Network: Thanh Nguyen is experienced blockchain developer at Incognito, AstraProtocol. Thanh Nguyen is specialized in Confidential Transactions, Zero-Knowledge Proof.
  4. Dr. Duc Le, PhD, privacy researcher and advisor of Sisu Network: Dr. Duc Le has expetise on Zero-Knowledge Proof and Zk-snark.
  5. Steven Nguyen, MBA, Founder of Token Play: Steven is the Former Business Manager at OpenSea, is currently the Founder of Token Play.

They are both knowledgeable about blockchain consensus mechanisms and have contributed to various open source projects.

Manifesto/Vision

Our Vision is to help promote the widespread adoption of lumens through cross-chain interoperability. As survey, private transaction from both cross and in-chain, Tornado cash ($3B LVT), ZCash ($2B Cap) are privacy on a single chain. Sisu is one of the first (if not the first) solution that enables universal private transaction.

We believe that by enabling users to transfer assets across different blockchains, we can help increase liquidity and value for users. Also, we vision that our proposal will help reduce congestion and costs associated with traditional methods of cross-chain interaction.

Problem

Private transaction is very hard to use and mostly used by criminals, as survey of Tornado Cash 2022.

As we know, privacy adoption is very much like Bitcoin adoption in early days and it would be hard to use: users often have to use external chains like Zcash, Monero. Especially, during these transaction, no privacy is ensured, including token swaps.

Solution

Therefore, Sisu would like to make it simple by creating universal private transactions. It helps users easy to use by geting private transactions without leaving their chain. Once deposited, withdraw secretly anywhere and it could work on multiple chains.

Also, by Threshold Signature Scheme and Zero Knowledge Proof, transactions could be secured while keeping the tx fee cheap and while deleting all the trace of transaction source.

Goals

If the project succeeds, it will achieve its mission of making the cross-chain interaction easier and simplify building cross-chain applications. It will also bring users and liquidity from other chains to your ecosystem.

Metrics to Goal Measurement
Metrics:

  • Number of users to use Sisu to swap token from any chain to Moloch DAO
  • Transaction volume cross chain
  • Volume of private transaction on Moloch DAO using Sisu

Success will look like:

  • Bring 10,000 users to Moloch DAO from all other blockchains
  • Total transaction volumes cross $25M
  • Total private transaction volume cross $5M

Progress

We have completed the Testnet Phase 1 with tokens swap on 5 different chains with test tokens. Next, we will launch Sisu on 10-15 chains with limited real token swaps. And, we will add private transaction for Sisu.

Differentiation

Competitors of Sisu are Thor Chain and ZCash:

  • Thor Chain: With estimated $1-3B market cap, Thor Chain only works on multiple chains only.
  • ZCash: With estimated $1-3B market cap, ZCash only supports privacy.

However, with the target $3-5B in 3 years, Sisu Network is the only project that offers a secure multiple-chain transaction with threshold signature and universal private transaction (including NEAR, BTC, Cardano, etc).

This makes it stand out from the competition as it offers more security and privacy.

Grant Request $

Preseed: $35K-$50K each stage
Looking to raise $600K for 3% max token supply in the Seed

Tokenomics

  • Community allocation: 37%
  • Validator reward: 20%
  • Team: 20%
  • Strategic partners: 10%
  • Ecosystem: 10%
  • Seed: 3%

What the Funds Are For

The project will be maintained through the efforts of the development team hired with the grant funds. The team will continue to work on the project after completion of the grant to ensure that it remains operational and useful.

Additional Resources, Links, Portfolio

Email
[email protected]

GitHub
https://github.com/sisu-network

Many thanks to the authors and advisors of this post!

Nexus Mutual isn’t a venture capital firm. I’m not sure this is something the members would be interested in.

I believe you meant to post this proposal in the MolochDAO forum. The application process for MolochDAO is outlined here, and your post follows that format.

I do see your post on the MolochDAO forum, which is here.

If that was your intention, then I’d follow the procedure as outlined in the MolochDAO docs. @billypham if you’re cross posting here in hopes of getting funding through the Nexus Mutual DAO, then I’m sorry to say that the mutual does not provide seed funding for projects.

Best of luck on your application through MolochDAO!

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