BitBhoomi, an innovative blockchain-powered platform, stands at the forefront of addressing the various limitations that hinder present-day reforestation efforts. It aims to revolutionize the ongoing tree-planting initiatives by infusing transparency, traceability, and accessibility into every aspect of the process. It serves as a bridge, connecting passionate individuals and organizations with impactful reforestation projects worldwide. At its core, BitBhoomi aims to democratize the tree-planting process, making it accessible to everyone.
SECTION 1: APPLICANT INFORMATION
Applicant Name: Nikhil Goyal
Project Name: BitBhoomi
Project Description: BitBhoomi, an innovative blockchain-powered platform, stands at the forefront of addressing the various limitations that hinder present-day reforestation efforts. It aims to revolutionize the ongoing tree-planting initiatives by infusing transparency, traceability, and accessibility into every aspect of the process. It serves as a bridge, connecting passionate individuals and organizations with impactful reforestation projects worldwide. At its core, BitBhoomi aims to democratize the tree-planting process, making it accessible to everyone.
Team Members and Roles:
(a) Nikhil Goyal: Founder & CEO
(b) Anthony Raj: Co-Founder and CTO
(c) Alejandro Giuffrida: COO
Project Links: (https://bitbhoomi.com/) Alejandro Giuffrida on LinkedIn: BitBhoomi - White Paper
Contact Information
Point of Contact: [Nikhil Goyal]
Point of Contact’s TG handle: [Telegram: Contact @BITBhoomi]
Twitter: [Twitter Handle]
Email: [nikhil@beimagine.tech]
Do you acknowledge that your team will be subject to a KYC requirement?: [Yes]
SECTION 2a: Team and Product Information
Provide details on your team’s past and current experience. Any details relating to past projects, recent achievements and any past experience utilizing incentives. Additionally, please provide further details on the state of your product, audience segments, and how you expect incentives to impact the product’s long-term growth and sustainability.
Team experience (Any relevant experience that may be useful in evaluating ability to ship, or execution with grant incentives. Please provide references knowledgeable about past work, where relevant. If you wish to do so privately, indicate that. [Optional, but recommended]):
Nikhil Goyal: Founder & CEO, Beyond Imagination Technologies.
Anthony Raj: Co-Founder and CTO at Beyond Imagination Technologies Pvt. Ltd. (Ex-Microsoft and CISCO)
Alejandro Giuffrida: Software Engineering Project Manager en Avature | Head Latam en BIT Blockchain
This team developed the Bitmemoir platform, which has secured funding and is currently operational. Its primary objective is to issue NFTs for academic and business applications. The platform already boasts a diverse clientele spanning different regions worldwide, including Latin America.
What novelty or innovation does your product bring to Arbitrum?
Our product, BitBhoomi, introduces several novel innovations to the Arbitrum ecosystem. First and foremost, we leverage blockchain technology to revolutionize reforestation efforts, which is a unique application within the Arbitrum network. Additionally, our platform offers features such as Digital Monitoring, Reporting, and Verification (DMRV), tokenization, and carbon credits generation, all of which contribute to a more transparent, inclusive, and impactful approach to environmental conservation. By integrating these innovative elements into the Arbitrum network, BitBhoomi not only expands the platform’s utility but also fosters sustainable development and positive environmental outcomes.
Is your project composable with other projects on Arbitrum? If so, please explain:
Yes, BitBhoomi is designed to be highly composable with other projects on Arbitrum. Our platform operates within the Arbitrum ecosystem, leveraging its infrastructure and capabilities to enhance the interoperability and effectiveness of reforestation efforts. Through smart contract interactions and data sharing mechanisms, BitBhoomi can seamlessly integrate with other projects and protocols on Arbitrum.
For instance, our tokenization feature allows users to acquire ownership stakes in reforestation projects, which can be traded or utilized within decentralized finance (DeFi) protocols operating on Arbitrum. This interoperability facilitates the creation of innovative financial instruments tied to environmental impact, fostering a vibrant ecosystem of sustainable finance.
Furthermore, BitBhoomi’s transparent reporting and verification system can provide valuable data to other projects on Arbitrum, enabling them to assess and verify environmental impact metrics. This interoperability promotes collaboration among various initiatives, leading to more informed decision-making and coordinated action towards shared sustainability goals.
In summary, BitBhoomi is not only compatible with other projects on Arbitrum but also enhances their functionality by providing valuable environmental data, facilitating the creation of new financial products, and fostering collaboration within the ecosystem.
Do you have any comparable protocols within the Arbitrum ecosystem or other blockchains? [No]
How do you measure and think about retention internally? (metrics, target KPIs)
Specify the KPIs that will be used to measure success in achieving the grant objectives and designate a source of truth for governance to use to verify accuracy. [Please also justify why these specific KPIs will indicate that the grant has met its objective. Distribution of the grant itself should not be one of the KPIs.]
Total number of Trees Tokenized.
Do you agree to remove team-controlled wallets from all milestone metrics AND exclude team-controlled wallets from any incentives included in your plan: [Yes]
SECTION 2b: PROTOCOL DETAILS
Provide details about the Arbitrum protocol requirements relevant to the grant. This information ensures that the applicant is aligned with the technical specifications and commitments of the grant.
Is the protocol native to Arbitrum?: [Yes] Its built on Solana and we wish to support multi-chain ecosystem hence looking to expand to Arbitrum
On what other networks is the protocol deployed?: [Yes, Solana]
What date did you deploy on Arbitrum mainnet?: [We are currently in the Beta testing stage and anticipate deployment by mid-March. As such, we have not yet deployed on the Arbitrum mainnet. We expect to finalize deployment by mid-March, and upon doing so, we will provide the relevant transaction ID for reference]
Do you have a native token?: [ Planned. Tokenomics : https://bitbhoomiido.onrender.com/]
Past Incentivization: What liquidity mining/incentive programs, if any, have you previously run? Please share results and dashboards, as applicable? NA
Current Incentivization: How are you currently incentivizing your protocol?
Currently, BitBhoomi incentivizes participation through various mechanisms tailored to engage users in reforestation efforts:
Token Rewards: Users participating in tree-planting campaigns or contributing to reforestation projects may receive token rewards as incentives. These tokens represent ownership stakes in the planted trees and potentially offer financial returns based on the project’s success.
Staking Rewards: Individuals can earn staking rewards by staking their tokens within the BitBhoomi ecosystem. Staking provides users with additional incentives while also contributing to the security and stability of the platform.
Carbon Credits: BitBhoomi generates carbon credits through its tree-planting initiatives. Users who contribute to these efforts receive carbon credits as incentives, which can be traded or utilized for various purposes, including carbon offsetting.
Community Engagement: BitBhoomi fosters a vibrant community of environmental enthusiasts, investors, and stakeholders. Active participation in community events, discussions, and campaigns may lead to recognition, rewards, or exclusive opportunities within the ecosystem.
Overall, BitBhoomi aims to align the interests of its users with the goals of environmental conservation by offering diverse and meaningful incentives for participation.
Have you received a grant from the DAO, Foundation, or any Arbitrum ecosystem related program? [NO]
Grant Breakdown: [Please provide a high-level overview of the budget breakdown and planned use of funds]
Budget Breakdown:
-
Manpower (ARB 30,000):
A) Development Team: ARB 25,000- Justification: To hire developers for platform enhancements, bug fixes, and new feature implementations.
- Milestone: Completion of platform improvements, including DMRV system upgrades and user interface enhancements.
B) Marketing Team: ARB 5,000
- Justification: To hire marketing professionals for promoting BitBhoomi, reaching new users, and fostering community engagement.
- Milestone: Launch of marketing campaigns, increase in user registrations and engagement metrics.
C) Operations Team: ARB 5,000
- Justification: To cover operational costs, including hosting fees, customer support, and administrative expenses.
- Milestone: Smooth operation of the platform, timely resolution of user queries and issues.
-
Trials (ARB 10,000):
A) Pilot Project Implementation: ARB 5,000- Justification: To conduct pilot projects to test platform scalability, user experience, and environmental impact assessment capabilities.
- Milestone: Successful deployment of pilot projects and feedback collection from participants.
B) Data Analysis and Reporting: ARB 3,000
- Justification: To analyze trial results, generate comprehensive reports, and identify areas for improvement.
- Milestone: Completion of data analysis and presentation of trial findings to stakeholders.
C) Miscellaneous Expenses: ARB 2,000
- Justification: To cover unforeseen expenses and contingencies during trial implementation.
- Milestone: Effective management of trial-related costs within the allocated budget.
Total Budget: ARB 45,000
Funding Address: [Enter the specific address where funds will be sent for grant recipients]
xdd70c71de293a9dB39c8Caf3Bf75201FA107d30D
Funding Address Characteristics: [Enter details on the status of the address; the eligible address must be a 2/3, 3/5 or similar setup multisig with unique signers and private keys securely stored (or an equivalent custody setup that is clearly stated). The multisig must be able to accept and interact with ERC-721s in order to accept the funding stream.
2 Owners multisig
Treasury Address: [Please list out ALL DAO wallets that hold ANY DAO funds]
NA
Contract Address: [Enter any specific address that will be used to disburse funds for grant recipients]
NA
SECTION 4: GRANT OBJECTIVES, EXECUTION AND MILESTONES
Clearly outline the primary objectives of the program and the Key Performance Indicators (KPIs), execution strategy, and milestones used to measure success. This helps reviewers understand what the program aims to achieve and how progress will be assessed.
Objectives:
Objectives: The primary objectives of the grant for BitBhoomi’s integration with Arbitrum are to enhance the accessibility, transparency, and effectiveness of reforestation efforts through blockchain technology. Specifically, we aim to achieve the following:
-
Facilitate Seamless Integration: Our goal is to seamlessly integrate BitBhoomi’s platform with Arbitrum to leverage its robust infrastructure and capabilities, thereby enhancing the efficiency and accessibility of reforestation initiatives.
-
Expand Outreach and Impact: By integrating with Arbitrum, we intend to expand our outreach to a wider audience of users, including investors, environmental enthusiasts, and organizations, fostering greater participation and impact in reforestation projects worldwide.
-
Ensure Transparency and Accountability: Through the use of blockchain technology on Arbitrum, we seek to ensure transparency and accountability in every aspect of the tree-planting process. This includes transparent tracking of project progress, verification of impact, and comprehensive reporting on environmental outcomes.
-
Foster Innovation and Collaboration: By collaborating with Arbitrum, we aim to foster innovation within the environmental conservation space and encourage collaboration among various stakeholders, including individuals, organizations, and decentralized finance (DeFi) protocols, to create innovative solutions for sustainable development.
In summary, the primary objectives of the grant for BitBhoomi’s integration with Arbitrum are to enhance accessibility, transparency, and effectiveness in reforestation efforts while fostering innovation and collaboration within the blockchain ecosystem.
Execution Strategy: [Describe the plan for executing including token distribution method (e.g. farming, staking, bonds, referral program, etc), what you are incentivizing, resources, products, use of funds, and risk management. This includes allocations for specific pools, eligible assets, products, etc.]
Please check Tokenomics : https://bitbhoomiido.onrender.com/
What mechanisms within the incentive design will you implement to incentivize “stickiness” whether it be users, liquidity or some other targeted metric? [Provide relevant design and implementation details]
Specify the KPIs that will be used to measure success in achieving the grant objectives and designate a source of truth for governance to use to verify accuracy. [Please also justify why these specific KPIs will indicate that the grant has met its objective. Distribution of the grant itself should not be one of the KPIs.]
Grant Timeline and Milestones: [Describe the timeline for the grant, including ideal milestones with respective KPIs. Include at least one milestone that shows progress en route to a final outcome. Please justify the feasibility of these milestones.]
How will receiving a grant enable you to foster growth or innovation within the Arbitrum ecosystem? Receiving a grant will significantly contribute to fostering growth and innovation within the Arbitrum ecosystem through BitBhoomi’s strategic integration and initiatives. Our platform’s alignment with Solana’s mission of open sourcing, decentralization, and staking offers several tangible benefits that justify the expected advantages to the DAO.
- Expansion Potential and Global Reach: BitBhoomi’s unique proposition holds substantial global expansion potential, facilitated by established partnerships in regions such as the Middle East, Europe, and Latin America. These partnerships not only broaden BitBhoomi’s reach but also introduce Solana to new markets, thereby expanding the Arbitrum ecosystem’s user base.
- Introduction of New Use Cases: By offering sustainability projects on Solana’s censorship-resistant network, BitBhoomi introduces new use cases that resonate with the environmentally conscious community. This diversification of use cases enriches the Arbitrum ecosystem, attracting users interested in both environmental conservation and blockchain technology.
- Opportunities for Innovation: Developers within the Solana ecosystem will have unprecedented opportunities for innovation and integration through BitBhoomi. The application of blockchain technology in environmental conservation not only stimulates innovation but also aligns with Solana’s vision of providing decentralized solutions for real-world problems.
- Financial Incentives and Economic Opportunities: BitBhoomi’s tokenization of reforestation projects and carbon credits introduces financial incentives that incentivize participation in environmental initiatives. This functionality enriches the Solana ecosystem with new economic opportunities, attracting stakeholders seeking to invest in sustainable projects.
- Measurable Impact: BitBhoomi’s commitment to measurable milestones, such as onboarding a specified number of projects and tokenizing trees, ensures tangible impact within the Solana ecosystem. These milestones, backed by data-driven progress reports, provide the DAO with clear evidence of BitBhoomi’s contribution to fostering growth and innovation.
In summary, BitBhoomi’s integration with Solana not only expands the reach of the Arbitrum ecosystem but also introduces new use cases, stimulates innovation, and creates economic opportunities. The measurable impact of our initiatives, coupled with strategic partnerships and a commitment to transparency, positions BitBhoomi as a valuable contributor to the growth and innovation of the Arbitrum ecosystem.
Do you accept the funding of your grant streamed linearly for the duration of your grant proposal, and that the multisig holds the power to halt your stream? [Yes]
SECTION 5: Data and Reporting
OpenBlock Labs has developed a comprehensive data and reporting checklist for tracking essential metrics across participating protocols. Teams must adhere to the specifications outlined in the provided link here: Onboarding Checklist from OBL . Along with this list, please answer the following:
Is your team prepared to comply with OBL’s data requirements for the entire life of the program and three months following and then handoff to the Arbitrum DAO? Are there any special requests/considerations that should be considered?
Yes
Does your team agree to provide bi-weekly program updates on the Arbitrum Forum thread that reference your OBL dashboard? [Please describe your strategy and capabilities for data/reporting]
We are comfortable making the project updates as and when required.
NOTE: We are launching our platform in March and IDO is also happening in March. We have a target of achieving 1m to 5m Trees tokenization in 2024. We have a top-notch team that is capable of delivering the milestone. You can learn about us here: https://www.beimagine.tech/ .We request you to support our platform at this stage and we contribute greatly to the Green impact, humanity and the planet through BitBhoomi.
First Offense: *In the event that a project does not provide a bi-weekly update, they will be reminded by an involved party (council, advisor, or program manager). Upon this reminder, the project is given 72 hours to complete the requirement or their funding will be halted.
Second Offense: Discussion with an involved party (advisor, pm, council member) that will lead to understanding if funds should keep flowing or not.
Third Offense: Funding is halted permanently
First Offense: *In the event that a project does not provide a bi-weekly update, they will be reminded by an involved party (council, advisor, or program manager). Upon this reminder, the project is given 72 hours to complete the requirement or their funding will be halted.
Second Offense: Discussion with an involved party (advisor, pm, council member) that will lead to understanding if funds should keep flowing or not.
Third Offense: Funding is halted permanently
Does your team agree to provide a final closeout report not later than two weeks from the ending date of your program? This report should include summaries of work completed, final cost structure, whether any funds were returned, and any lessons the grantee feels came out of this grant. Where applicable, be sure to include final estimates of acquisition costs of any users, developers, or assets onboarded to Arbitrum chains. (NOTE: No future grants from this program can be given until a closeout report is provided.)
Yes
Does your team acknowledge that failure to comply with any of the above requests can result in the halting of the program’s funding stream?:
Yes