Decentralised Futures: Ocelloids Monitoring Service

:wave: everyone,

We are the SO/DA Zone team, and we’re excited to share an overview of our proposal for the DF program. Through this proposal, our goal is to build upon the foundation established by the XCM Monitoring Server to create a solid multi-chain monitoring system for the Polkadot ecosystem.

Some potential use-cases we’ve identified

  • Delivering real-time, meaningful information on blockchain activity to applications via websockets and webhooks.
  • Facilitating asset owners and managers to effortlessly track assets and their movements across networks.
  • Detecting threats and anomalies for protocol and contract developers/owners.
  • Supporting the automation of compliance rules, such as AML/CTF requirements.

Key objectives of this proposal

  • Abstracting monitoring logic into programs and providing a runtime for program execution.
  • Enhancing storage capabilities to support Redis alongside the existing LevelDB backend.
  • Introducing additional delivery methods, particularly through websockets, to better serve decentralized applications.
  • Developing an intuitive user interface for browsing the program catalog, instantiating agents, and managing running agents and subscriptions.
  • Running an Ocelloids monitoring service network, providing a convenient option for those who prefer not to deploy on their infrastructure.

Block diagrams to illustrate an overview of the Ocelloids monitoring service and the components of an Ocelloid server:

Fig 1. Ocelloids monitoring service network overview

Fig 2. Ocelloids monitoring server components and portal

Additionally, we plan to continue improving the existing integration with the light client (smoldot) to minimize infrastructural requirements and reduce dependence on RPC providers for the server. Our intention is to develop this monitoring system as open-source software for the ecosystem, allowing individuals to run their own servers and programs.

Concurrently, our commitment extends to the continuous improvement of the Ocelloids Monitoring SDK so that developers can build their custom cross-chain monitoring programs.

Looking ahead to 2024 and beyond
Initially, we will operate an Ocelloids monitoring service network as a service with paid plans. Additionally, we will offer paid development services for custom programs and derived developments. Simultaneously, we will strive to maximize the decentralization of the monitoring service network, including introducing tokenomic incentives for participants.

In the event that we run or participate in operating a public common good Ocelloids monitoring network, we anticipate that it will be subsidized by the Treasury.

For the perfective maintenance of the open-source codebase, including the SDK and the Server, we may consider applying to the Treasury, relevant bounties or ecosystem grants programs based on necessity.

We are still working on the detailed proposal and we are open to suggestions and any feedback that you may have.

Stay fresh! :palm_tree: