Stake2Reserve

Screenshots

Problem Statement

No-show is a big problem for the restaurants industry. As reported by Barclays, restaurant owners fork out almost £90, approximately $110, per no-show. (Reference Link of the research: https://home.barclays/news/press-releases/2023/07/--the-real-cost-of-cancelling--indecisive-diners-leave-restauran/ )Our product can reduce the occurrence of no-shows. By using our product, the users can reserve a restaurant seat by making a small deposit as a cancellation fee. Additionally, the funds are deposited into the Aave protocol, and the yield is distributed to both the customer and the restaurant.Here are some advantages of our product:Restaurants benefit from a more reliable cancellation fee system compared to the traditional approach.The restaurant's popularity is transparent through on-chain data on the blockchain, allowing us to create metrics such as the Total Value Locked (TVL) for each restaurant.In situations where customers cannot make it to the restaurant, they have the option to sell the NFT on platforms like OpenSea.

Solution

To realize the new reservation platform for restaurant, we used technology of aave. Aave is the most important part of the protocol as it allows Stake2Reserve to incentivise both users and restaurants.In terms of network compatibility, Stake2Reserve's contracts are deployed on multiple testnets: Sepolia, Base Goerli, Scroll and Arbitrum. The Ethereum mainnet's gas fees and transaction speed may not be suitable for users of this product. They could avoid some troubles by using these testnets.