Hugs not Rugs - A platform to salvage your old NFT's to earn passive tokens.

[GENERAL] Name and surname of main applicant

Snekkies (Jason Jenkins)

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[GENERAL] Co-proposers and additional applicants

JK Artieco

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

6

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

The Snekkies Team will help bring back disillusioned Cardano NFT holders by developing a robust exchange platform. Trade rugged/failed NFTs for Snekkies credits, buy Snekkies and stake to earn $SNEK.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

No dependencies.

[GENERAL] Will your project’s output/s be fully open source?

Yes

[GENERAL] Please provide here more information on the open source status of your project outputs

The Snekkies NFT platform is open source, crucial for Cardano's growth. Transparency fosters community trust, innovation, and collaboration, driving ecosystem advancement.

[SOLUTION] Please describe your proposed solution

-Develop a platform for exchanging vintage (rugged/failed) project NFTs

-Assign a value to vintage NFT based on community size, current value, other metrics

-Accept vintage NFTs and assign appropriate credit

-Credit for vintage NFTs are earned by staking for a minimum duration

-Permit the spend of credits to purchase NFTs which are tied to a crypto mining operation for passive earnings (i.e. Snekkies)

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

The Hugs not Rugs initiative fosters community reengagement within Cardano by providing a platform to revitalize disillusioned NFT holders, offering them value through a robust exchange, Snekkies credits, and $SNEK staking rewards.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Trust and accountability are paramount; we ensure transparency in execution and continuous validation of feasibility through rigorous testing and community feedback.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Milestone 1: Framework Design

A: Milestone Outputs

1. Detailed design of the Snekkies NFT Exchange platform, including architecture, features, and user interface.
2. Initial project plan outlining roles and timelines.

B: Acceptance Criteria

1. Approval of the platform design by the Snekkies project team.
2. Agreement on project plan and timelines.

C: Evidence of Milestone Completion

1. Signed-off platform design document.
2. Accepted project plan with agreed timelines.

Model Refinement and Beta Testing

A: Milestone Outputs

1. Refine NFT Exchange model based on initial feedback.
2. Beta testing launch with selected user group.

B: Acceptance Criteria

1. Improved accuracy and efficiency demonstrated by the refined model.
2. Positive beta tester feedback on functionality and user experience.

C: Evidence of Milestone Completion

1. Updated model performance report showcasing enhancements.
2. Beta test feedback report including user testimonials.

Production Deployment

A: Milestone Outputs

1. Platform rollout to all users.
2. Establishment of robust monitoring tools and support procedures.

B: Acceptance Criteria

1. Smooth operation under varying loads.
2. Timely resolution of user inquiries.

C: Evidence of Milestone Completion

1. Performance assessments.
2. Summary of support ticket resolutions.

Platform Assessment and Conclusion

A: Milestone Outputs

1. Detailed project report on outcomes, community impact, and insights gained.
2. Final presentation to Project Catalyst.

B: Acceptance Criteria

1. Comprehensive report covering all project facets and metrics.

C: Evidence of Milestone Completion

1. Submission of final platform assessment report.

[RESOURCES] Who is in the project team and what are their roles?

Snekkies Website: https://snekkies.com/

Snekkies Team: https://snekkies.gitbook.io/snekkies-scroll/snekkies-scroll/about-snekkies/team

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

• UI/UX Design: 15,000 ADA
• Backend and Frontend Development: 40,000 ADA
• Smart Contract Integration: 10,000 ADA
• Legal professional services: 20,000 ADA
• Miscellaneous and Contingency: 15,000 ADA

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The Hugs not Rugs initiative fosters community reengagement within Cardano by providing a platform to revitalize disillusioned NFT holders, offering them value through a robust exchange, Snekkies credits, and $SNEK staking rewards.

1. Empowerment: Disillusioned NFT holders will have a platform to actively engage with and extract sustainable value from their rugged/failed NFT project assets.
2. Community Growth: Bringing back disillusioned NFT holders will bring back users to the Cardano ecosystem.
3. Sustainability: The integration of staking and passive earnings mechanisms ensures long-term sustainability and viability for those that utilize the Hugs not Rugs exchange platform to exchange rugged NFTs for Snekkies.
4. Innovation: Our proposal introduces novel concepts to bring disillusioned Cardano NFT holders back into the ecosystem.