metadata: {"signature": "0x70c73d9f884a5bfd937fb3876f48507d7cea5bee23a18006273a5c5f587e12e5111265571fea67e18f454223393fc74c84010fa7c364b1d84d94abc203d2efb51b", "application": {"round": "0xdd906d46876ec8a10e4cf80fb5c4992091e87e46", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "H+bfnIgLdL1mll8JExvADJmwoOAIAaWw57IUeTGNg7nxLhR0A6dBKLWd5S9TeUMl", "encryptedSymmetricKey": "5ccb5ba650446a2568e221426a4b371b4fc29c072100be6dd45ffc8cef11364743cc7aaa699a1992102e4507c7db4912400986c5f91643341374c656f077cd81efca5a2111c950c1c353b8057af1d0dec080224d202cbb53732be45bfeb93790647b66e90a85e3f33ebaaf749ba8bf74b544ddc66a0377d324566a6271df30a200000000000000201f80f240c73313802bee06f02a4c4987add1272ac5e9b79d61df64053ace7170e334b96a172c28f5b703a8e5c7ab56a9"}}, {"type": "dropdown", "answer": "Yes", "hidden": true, "question": "Please confirm the Payment Wallet you have provided is on Polygon PoS and can accept MATIC", "questionId": 1}, {"type": "paragraph", "answer": "The Buk Protocol, through its consumer-focused platform Prawasa.com, aims to enable resellability and transferability of dynamic assets like hotel bookings. The project is designed to provide users with enhanced control, flexibility, and engagement with their digital assets, leveraging the capabilities of Tokenization\n\nKey elements of this consumer-centric strategy include:\n\n1.\tFlexibility and Loss prevention: Users can tokenize their hotel bookings, gaining the ability to resell, transfer, or share these bookings. This approach addresses the limitations associated with traditional, non-transferable travel bookings, protecting the user from  losses during cancellations.\n2.\tIncreased Visibility & Engagement: By allowing users to share tokenized assets on social media, the platform enhances digital engagement and visibility, meeting the demand for socially interactive online experiences.\n3.\tNo fake bookings: The use of blockchain technology ensures transparency in asset provenance and authenticity, which eliminates fakes and helps to build trust between users and asset owners.\n\n\n", "hidden": true, "question": "Explain your project's consumer-centric approach and how it innovatively uses Farcaster Frames to enhance user experience", "questionId": 2}, {"type": "paragraph", "answer": "<b>Use of Farcaster Frames:</b>\n\nThe integration of Farcaster Frames within Pravasa.com is intended to provide unique interaction points that enhance the user experience. The key applications are as follows:\n\n\t1.\tSocial Sharing of Tokenized Assets:\n\t\u2022\tFunctionality: Users can share their tokenized hotel bookings directly on social media platforms using Farcaster Frames.\n\t\u2022\tEnhancement of User Experience: This functionality allows users to display their purchases or travel plans to their networks, potentially increasing social engagement and interest in the platform. It also offers a new way for users to interact with their digital assets, converting each booking into a potential social event.\n\t2.\tFacilitating Resale Through Social Channels:\n\t\u2022\tFunctionality: Users seeking to resell their tokenized bookings can create a Farcaster Frame that lists the NFT for sale and shares it across social networks.\n\t\u2022\tEnhancement of User Experience: This approach simplifies the resale process by making it easier for users to reach potential buyers within their social circles, potentially accelerating the transaction process and increasing asset visibility.\n\t3.\tExplicit Sharing for Promotion or Transfer:\n\t\u2022\tFunctionality: Users can share specific bookings or deals found on Pravasa.com using Farcaster Frames, either to promote a unique experience or to facilitate the transfer of a booking.\n\t\u2022\tEnhancement of User Experience: This feature supports the rapid dissemination of time-sensitive deals or limited bookings, encouraging community-driven discovery, sharing, and transfer of bookings.\n\nInnovative Aspects of This Approach:\n\n\t\u2022\tIntegration of Web2 and Web3: The use of Farcaster Frames connects traditional web2 social platforms with web3 transactional capabilities. This allows users to share and manage blockchain-based assets on Warpcast, promoting broader usability and adoption without requiring extensive blockchain knowledge.\n\t\u2022\tSupport for Secondary Markets: Farcaster Frames enable user participation in secondary markets, turning typically static travel bookings into dynamic, tradable assets. This approach unlocks new opportunities for value creation and asset management.\n\t\u2022\tEnhancement of Social Commerce: The integration fosters a model of social commerce in the travel industry, where users act as promoters and traders of their digital assets. This can generate network effects that increase platform engagement and attract new users.", "hidden": true, "question": "Describe how your project uses Farcaster Frames in a novel or unique way to solve a consumer problem or create new opportunities.", "questionId": 3}, {"type": "paragraph", "answer": "The project, via the Prawasa.com platform, operates independently on the Polygon PoS (Proof of Stake) blockchain to enable a decentralized marketplace for dynamic assets, specifically tokenized hotel bookings. \n\nKey Functional Components:\n\n1.\tTokenization :\nFunctionality: The project uses smart contracts on Polygon PoS to tokenize hotel bookings. Each booking is converted into a unique non-fungible token (NFT) that represents the asset\u2019s ownership, terms, and associated metadata (such as booking details, expiration date, and usage parameters). This process ensures that the assets are secure, transparent, and immutable.The tokenization process is fully decentralized and managed on-chain. Smart contracts deployed on Polygon handle the creation, management, and transfer of these NFTs.\n\n2.\tAsset Management and Resale:\nFunctionality: Users can manage their tokenized assets directly on Prawasa.com, including actions such as holding, transferring, or reselling their hotel bookings. If a user chooses to resell a booking, a new listing is created on the platform\u2019s marketplace, which is powered by smart contracts running on Polygon PoS.\nThe listing, sale, and transfer of assets are all executed on-chain, in an independent fashion.\n\n3.\tUser Engagement via Farcaster Frames:\nFunctionality: Users can create and share Farcaster Frames to promote or resell their tokenized bookings on social media. This functionality is enabled by decentralized smart contracts on Polygon, which generate the necessary data for integration with web2 platforms.\n\n4. Agg Layer:\nUtilizes Polygon\u2019s cross-chain capabilities and aggregation (agg) layer to enable seamless transfer of tokenized hotel bookings across multiple marketplaces and blockchain networks.", "hidden": true, "question": "Describe how your project functions independently on Polygon PoS", "questionId": 4}, {"type": "multiple-choice", "answer": "NFT innovation", "hidden": true, "question": "Select from the provided categories or specify other if none of these are applicable", "questionId": 5}, {"type": "paragraph", "answer": "Our team has extensive experience in developing Web3 applications, with expertise in blockchain technology, smart contract development, and decentralized platforms. We have successfully built and deployed dynamic asset management solutions on Polygon and other blockchains, including integrations with NFT marketplaces and DeFi protocols. Additionally, we have a strong understanding of integrating social engagement tools into decentralized environments. While we are newly exploring Farcaster Frames, our team\u2019s technical proficiency and previous work in creating innovative, user-focused Web3 applications position us well . In addition we are taking support from Warpcast/farcaster frame developers to bridge the knowledge gap wherever existing.", "hidden": true, "question": "Describe your team's relevant expertise in developing in Web3 and (if applicable) with Farcaster Frames.", "questionId": 6}, {"type": "paragraph", "answer": "0 MATIC _ 15-Sep _ Deployment of Prawasa.com on Polygon\n\n5000 MATIC _ 18-Sep _ Deployment of Sharing tokenized bookings via Frames\n\n10000 MATIC _ 25-Sep _ Deployment of reselling of hotel room bookings via Frames\n\n15000 MATIC _ 15 Oct _ Deployment of auction model for the tokenized hotel bookings.  ", "hidden": true, "question": "Please provide key milestones with budget for integrating Farcaster Frames and developing your application. You can link to a spreadsheet outlining this information.", "questionId": 7}, {"type": "paragraph", "answer": "Chainwarz campaign launches on 15th Sep, to incentivize user engagement and community growth.  3% of BUK tokens will be distributed to users and community members who actively perform social transactions on the platform. One of the key tasks will include frame-based transactions using Farcaster Frames, where users can share, promote, or resell their tokenized bookings on social media. This approach not only encourages organic growth through social sharing but also rewards early adopters, creating a network effect that increases platform visibility, engagement, and overall user base expansion.", "hidden": true, "question": "What is your plan for driving user adoption of your application", "questionId": 8}, {"type": "paragraph", "answer": "Our project will significantly boost daily active addresses (DAA) and transaction volume on Polygon PoS by enabling real-world transactions related to travel bookings. Each hotel booking and reselling action contributes around 7 blockchain transactions (minting, listing, sale, transfer, etc.). We expect to process 10,000 hotel bookings in the next 90 days, resulting in at least 70,000 transactions. The introduction of an auction model will further increase transaction volume through additional bidding and settlement processes.\n\nWith an average booking value of $400 USD, the total transaction value is expected to exceed $4 million USD over this period. This market is resilient to crypto-market cycles, driven by the consistent demand for real-world travel services. As adoption grows, we plan to integrate Buk Protocol fully, providing even more transaction opportunities and reflecting strong, long-term growth potential on Polygon PoS.", "hidden": true, "question": "Describe how your project will increase DAA and transaction volume on Polygon PoS.  Provide estimates on the expected volumes over the next 60 days.", "questionId": 9}, {"type": "paragraph", "answer": "Our project has already gained significant traction in the market. During a recent technical pilot, we generated $150,000 USD in revenue by reselling hotel bookings for events like EthDenver and GDC SF, validating our business model and technology. We currently have access to over 1 million properties worldwide through existing partnerships with major travel providers such as Expedia and Priceline, with 30,000 properties available for resale and trading.\n\nWe have also secured pre-seed funding of $160,000 USD from Polygon Ventures and HustleFundVC and raised an additional $50,000 from angel investors. These metrics demonstrate strong early-stage interest and potential for further growth.", "hidden": true, "question": "If applicable, describe any existing user base, partnerships, or traction your project has achieved. Include metrics if available.", "questionId": 10}, {"type": "dropdown", "answer": "Yes", "hidden": true, "question": "Do you understand and agree to complete Gitcoin's KYC process before processing payments?  All grantees receiving more than $15K will be required to complete KYC/KYB.", "questionId": 11}], "project": {"id": "0x30d26171cb7629bd1efae1d7036e71c1ea592046ecdaccfd429d7c8d146ebcdd", "title": "BukProtocol", "logoImg": "bafkreigyagpcvhn56lkvyqeuwhthzx7ryacst26l2nabexytblhufh7xge", "metaPtr": {"pointer": "bafkreidv55lyc6pvlhdfd6umse4dbs253lyooz2qf3sauyigvr7b6wqrqq", "protocol": "undefined"}, "website": "https://bukprotocol.io", "bannerImg": "bafkreid5ix6pbizgtxprtrhu3ggqiqb5fvvtauu3bp6qf54spdq6mtrcbm", "createdAt": 1725611180417, "credentials": {}, "description": "BukProtocol is a B2B2C infrastructure to tokenise and enable resell ability for IRL Assets. These IRL/dynamic assets include event tickets, Airline tickets, hotel room bookings and more. Buk's cross chain cross marketplace solution allows any web3 marketplace or web2 marketplace to sell, resell these assets and create a secondary market around it.", "lastUpdated": 0, "projectTwitter": "bukprotocol"}, "recipient": "0xFFea61C3E085459e90AF2198b8d86647aFf05cBA"}}