When Covid-19 struck the world🤯, a lot many businesses in different sectors suffered heavy losses including one of the largest industries “The Food Industry”. Though many online food delivery platforms acted as a savior for many restaurants and inculcated the habit of ordering food from home into people which eventually made people lazy enough to not move their butts to the nearby restaurants the restaurants on the other hand kept on paying expensive rents even after the lockdown was over.
To move these lazy lads from their homes and make them eat at their nearest restaurants with embracing ambiance, we introduced “EAT MONEY”, which serves customers with EAT COINS for eating at restaurants.
The more you EAT the more you EARN 💰. So come let's EAT TO EARN TO EAT MORE!!!!!!!
EAT MONEY is a fantastic way to EARN for EATING at exclusive EAT RESTAURANTS.
So basically, Restaurants have to first register them as EAT RESTAURANT by staking some eat coins which right away creates the demand for the token.
The users on the other hand have to buy an EAT PLATE, our exclusive NFTs which come in four categories: BRONZE, SILVER, GOLD & EMERALD, each containing 4 levels.
- After buying a plate from our marketplace in the Dapp, users are ready to go and dine at our EAT Restaurant.
- After eating the users have to ask the restaurant for the generated QR code, which is caused by the restaurant entering the details of the receipt and the amount into the Restaurant Side of the Dapp. Restaurant signs the message which is also inserted in the QR code which is later verified on the chain for authenticity.
- After scanning the QR the users get EAT COINS depending on the Bill Paid, the efficiency of the Plate they are holding, and a random factor generated by Chainlink VRF. After this, they also stand a chance to Spin the wheel of fortune to earn some more EAT COINS for the same transaction which depends upon the FORTUNE attribute of that particular Plate.
- By burning these EAT COINS the user can upgrade to the next level in the same category of EAT PLATE, for which they get 10 points to distribute among the 3 ATTRIBUTES of NFT which are EFFICIENCY, FORTUNE, and DURABILITY. (The Factors are defined below)
EAT Plates are the exclusive NFTs that are used to pay for your bill at EAT Restaurants and earn EAT COINS.
Fun fact: The metadata of the plate NFTs are dynamic and depend on the level of the plate and when you level up it automatically changes to a new looking NFT.
EAT Restaurants are the registered restaurants in EAT MONEY Dapp, where you can eat and pay your bill to earn EAT COINS.
- Efficiency ⇒ The greater the Efficiency, the more EAT COINS you receive for spending and eating at Restaurants. Even if you spend less you get more EAT COINS if you have higher efficiency.
- Fortune ⇒ The greater the fortune, the higher the chances of you winning those extra EAT COINS when spinning the Wheel of Fortune after payment of the bill.
- Durability ⇒ The higher the durability, the lower EAT COINS it will cost you to clean your plate. “Wait but why do we have to clean the plate ?”. Don’t panic it is explained below.
Shiny decides the efficiency of your plate.
If Shiny < 50, Efficiency drops to 90%
Shiny < 20, Efficiency drops to 10%
If Shiny < 100, you cannot sell your EAT PLATE :(
10 Shiny points are deducted after every delicious meal you EAT at our EAT Restaurant.
See, how vital Shiny is for your EAT PLATE. So you need to keep your Shiny points >50 or would have to increase it using EAT COINS.
Leveling up gives you 10 attribute points to distribute among the 3 core attributes, EFFICIENCY, FORTUNE & DURABILITY. So the higher the level you are at, the more attribute points you have as compared to lower levels.
It totally depends on your play style how you want to distribute points to your attributes. If you want to earn more increase Efficiency. If you are a lucky person you can allocate more points to Fortune or you can play defensive by increasing your durability which will help you by costing less eat coins to clean the plates.
Cap is the limit for users to spend an amount less than a specific Cap for each day. on each Category of EAT Plate.
🥉 Bronze ⇒ 5 USD max per day.
🥈 Silver ⇒ 15 USD max per day.
🥇 Gold ⇒ 50 USD max per day.
💎 Emerald ⇒ 100 USD max per day.
So think before you choose which EAT plate to buy, because it's the CAP that lets you spend more, and eventually you receive more EAT COINS for spending more.
We tried to create a perfect balance between the supply and demand of Eat coins.
The supply
Eat coins are only minted when people eat using Eat Money. Which is the only way to push more coins into the market.
The demand
Eat coins are used to clean plates after the meal. They are burned which decreases the supply.
Eat coins used to upgrade your plate level and increase your earnings.
Restaurants need to stake eat coins to become an EAT restaurant which increases the locked supply.
Ideally, we want users to eat more so that there are more eat coins in circulation which fulfills the demand raised by restaurants to become EAT restaurants (By staking) which can help them boost their sales.
The system feeds itself, the more people eat on our platform the more restaurants will want to partner with us which will create demand for Eat coins and increase the price which again will attract more users to eat as they will earn more.
We used Solidity for Smart Contract development. Next js for Frontend of the Dapp. Ethers for the contract interactions, Tailwind CSS for responsive and beautiful design. Figma for designing the UI, Flow of Dapp, logos, NFTs, and other assets.
The Technologies we used to give more power to EAT MONEY are ⇒
Chainlink is the backbone of this project. Our eat coins minting formula depends on a random factor which is served by Chainlink VRF. Wheel of fortune also depends on chainlink VRF which helps us pick a random option with odds calculated on the basis of the Fortune attribute of the plate. Furthermore, we are using chainlink price feed as restaurants generate the bill amount in USD and they are paid in MATIC. How much MATIC to charge is calculated on the chain, Thanks to the chainlink oracle.
Our contracts are deployed on the polygon Mumbai testnet for now.
Metadata for all Plate NFTs are hosted on IPFS. And we are using IPFS for storing restaurant data like name, address, image, etc.
We are using quicknode as our RPC provider to interact with contracts and listen to events.
The challenges we ran into were discussing how the workflow and attributes work. The formula for generating EAT Coins. Determining the attributes and how they will create utility for the minting of EAT COINS. The major challenge for EAT MONEY which exists is to bring Restaurants into collaboration with EAT MONEY.
We are proud of completing this project in 4 days only and coming up with a working MVP. We are also proud of integrating almost all the sponsors of CHAINLINK FALL 2022. We created some really awesome-looking NFTs, EAT Plates is what we call them, and spent most of the time designing them.
We learned that no one ever gives a thought to making money while you eat, and we made the dream come true finally. We learned that anything is possible at a given time, it's all about determination and passion for work.
Well, the first target for EAT MONEY is to grab Restaurants for collaboration and register themselves on our Dapp. After that, we will focus on improving the UI and UX and treat it as a game, so that we grab more attention from users. Fix all the flaws in tokenomics and algorithms if any. Create the right balance of supply and demand for Eat coins.