The problem Loyalty Program solves

Loyalty Programs are all about building affinity for a business' brand, and their own currency. They reward people with tokens which they can redeem for more products. This is a good incentive for both the parties involved. Customers are more willing to spend when they are rewarded for their purchases, while the business generates more profit in the long run.

However, there might be some flaws or glitches with this existing system which the customer can exploit and result in financial losses for the businesses involved.

The loyalty rewards being on the blockchain can reduce the chances of customers exploiting the system, such as finding an infinite money glitch. As the transactions are easily visible on the blockchain, we can also add bug bounties which will further enforce security.

Our Roadmap involves making this software like an API of sorts, making it such that it is effortless to integrate it to their existing website/platform.

Challenges we ran into

Installing all the dependencies was in itself was a challenge as we had frontend, backend of the website and also had smart contracts which we were developing using hardhat. So all three things working together was a challange.

So we decided to make our own crypto token named LYT so making that was a challenge, which we solved using openzeppelin which helped us build the ERC-20 token very fast and implement all the functionalities.

Even connecting all the components like tokens, contracts and deploying them caused a lots of bugs which in itself took a lot of time but was really satisfying experience.

Integration of web3 and next.js took proved to be more difficult than expected but in the end, it was implemented successfully.