Cardano DeFi #004: Charli3 Oracles
Written interviews with DeFi projects on the Cardano blockchain.
This week’s Cardano DeFi project is an oracle solution, which gathers data and presents it in the correct format through a decentralized network of operators: Charli3 Oracles.
The previous guest was an open-source membership platform that helps Kreators get paid fairly and kreate with their devoted fans.
This initiative is a point of reference for Decentralized Finance (DeFi) on Cardano and every week or two we will invite someone to answer some questions and give us an update directly from within the Cardano community.
Hey, glad to have you here. Please introduce your team, where are you from, what are your backgrounds?
Hello! Thanks for having us. We are Charli3 Oracles and we have quite a diverse team spanning over North America, South America, and Europe.
Our backgrounds tend to include a mix of experiences which help us have a more diverse perspective to manage different problems. However, the development team is purely experience just in that area, which helps our very technical company stay on track
The Company is a Canadian entity ad the Co Founders are primarily Canadian
What is Charli3? And what are oracles?
We are an Oracle solution, which gathers data and presents it in the correct format, for whichever chain is being used, through a decentralized network of operators.
Oracles are THE major safety provider for all DeFi companies, and are therefore a fundamental base to any blockchain
Charli3 is unique in that it is the only oracle solution that can manage this service on Cardano. Using the UTxO method.
What role does the C3 token play in your project? Where does the demand for it come from?
The C3 token is used to pay for oracle services, and delegate to run a node.
When a proper set of data is aggregated and posted on-chain through the Charli3 node network, those nodes get paid in C3. This C3 is provided from the customer who will be required to purchase that C3 beforehand, creating a more stable token economy than any other oracle solution out there.
We will also have future staking lockup to become node operators, as a form of financial security towards the nodes providing proper data
We also have 2 staking operations now live from our 2 year anniversary.
- C3 for C3 Staking on VyFinance
- NFT/C3 staking for C3 on Infinity Pools.
At what stage of the project are you now? And what can we expect from you in the years to come? Where do you envision Charli3 in 5 years?
Charli3 has recently onboarded our first customer, Liqwid finance. DeFi in the Cardano ecosystem is still quite young and there aren’t many projects that have launched yet.. So as more projects come alive, Charli3 will have more customers.
The 5 year vision is to have multiple products and services being provided on multiple chains. This proves a major challenge and the competition on other chains is quite formidable.
Our major goal is to continue innovating into the real-fi sector and begin handling and processing data of traditional companies and commercial operations, using blockchain security. Things such as supply chain, manufacturing records, identity verifications, etc…
Awesome. Any final comments? Where can people learn more about Charli3?
Please always do your best to educate yourself on the key words people use in chats, don’t get caught up in emotions. Rationality will help you go quite far in crypto and blockchain.
The token can be purchased on any Cardano DEX. SundaeSwap, Minswap, Wingriders, or MuesliSwap.
You can learn more about oracles on our main website Charli3.io, as well as some social platforms. Twitter, Discord, Youtube, Telegram, LinkedIn.
Disclaimer: The opinions and views of the people interviewed are their own and do not necessarily reflect those of the Cardano Foundation or IOG. Moreover, this content is for educational purposes, it doesn’t constitute financial advice.
