{"signature": "0x7a75699cf524de8ce4b2ff2b9c106b5d3a27f0669c6fd2e45a58dd4ec8a1fbe73ed38a8d5d6d935829634c4cc838ef9c4d07ecc36c76a2f10af570e732f820031b", "application": {"round": "0x3E93205B786796Cf7Ea70404E89c7dda3b84D07a", "answers": [{"type": "email", "answer": "bitsavenigeria@gmail.com", "hidden": true, "question": "Email Address", "questionId": 0}, {"type": "short-answer", "answer": "@cryptosmartnow", "hidden": true, "question": "Telegram Handle We Can Use To Contact You", "questionId": 1}, {"type": "short-answer", "answer": "https://github.com/CryptoSmartNow/bs_base", "hidden": false, "question": "Project GitHub Repo", "questionId": 2}, {"type": "link", "answer": "", "hidden": false, "question": "Link to your Public Group Chat", "questionId": 3}, {"type": "paragraph", "answer": "Real World Builders\nHackathon Alumni\nGG21 Thriving Arbitrum Summer", "hidden": false, "question": "Have you participated in a previous Gitcoin Grants Round? If so, please name the rounds or link the builder profile associated with previous rounds.", "questionId": 4}, {"type": "paragraph", "answer": "How Bitsave Contributes to the Growth of the Open-OSS Ecosystem:\n\n1. We're implifying decentralized finance (DeFi) for everyday users, making crypto savings more accessible, secure, and user-friendly.\n\nBitsave contributes to the open-source software (OSS) ecosystem by introducing SaveFi, a decentralized savings-focused protocol, that serves as an alternative for financial inclusion to the complexities of DeFi.\n\n2. Bitsave is expanding Open-Source DeFi Infrastructure as we're providing an alternative to traditional DeFi protocols by focusing on savings rather than high-risk investments. This allows developers to study, fork, and improve on Bitsave’s parent-child contract system, which enhances security by isolating user funds into individual smart contracts instead of pooled liquidity.\n\n👩🏽‍💻 For Example: Developers can leverage Bitsave’s contract structure to build safer savings and staking solutions for their communities.\n\n3. Cross-Chain & Interoperability Contributions:\nBitsave integrates with EVM-compatible chains, we're on Lisk, Arbitrum, Base and will be expanding to CELO and others for cross-chain savings. This expands interoperability in the SaveFi ecosystem by enabling seamless savings across multiple blockchains.\n\n👩🏽‍💻Example: Developers working on multi-chain wallets or dApps can integrate Bitsave’s cross-chain savings contracts, extending SaveFi beyond single-chain ecosystems.\n\n4. Financial Inclusion Through Open-Source SaveFi\nBy allowing users in inflation-prone regions (e.g., Nigeria) to save in stablecoins without intermediaries, Bitsave sets a precedent for accessible, decentralized savings solutions that are low risk.\n\n📲Example: Fintech startups can use Bitsave’s open-source smart contracts to integrate decentralized savings into their platforms, reducing reliance on traditional banking.", "hidden": false, "question": "How does your project contribute to the growth of the OSS ecosystem? Please provide specific examples of how your application enhances or expands the current ecosystem.", "questionId": 5}, {"type": "paragraph", "answer": "\nThe number one difference is SaveFi vs DeFi, a lo of web3 users, newbies and OGs alike just need a tool that helps them save (not invest), and Bitsave is that tool with the primary usecase.\n\nHere's more;\n\nKey Features:\n\n1. Secure Non-Custodial Savings\nIndividual contracts protect each user's funds, with no shared pools or third-party custody. Hackers would need individual wallet access to steal funds.\n\n2. Automated Savings Plans\nUsers create recurring stablecoin savings plans with customizable timeframes, amounts, and goals. Top-up feature enables regular deposits.\n\n3. Self-Discipline Mechanism\nOptional 1-5% early withdrawal penalty helps users stick to savings goals.\n\n4. Multiple Savings Goals\nCreate separate savings contracts for different purposes (rent, vacation, emergencies), with easy tracking and management.\n\n\n## Use Cases: Who Benefits from Bitsave?\n\n1. Everyday Users in Inflation-Prone Regions\nPeople in countries with volatile fiat currencies (e.g., Nigeria, Argentina) can:\n\n- Save in USD-backed stablecoins like GloDollar, Good Dollar, USDT, USDC etc, instead of devaluing local currency.\n\n2. Web3 Freelancers & Gig Workers Web3 professionals earning crypto;\n- Save directly in stablecoins instead of relying on centralized exchanges.\n- Manage personal finances with structured savings plans.\n\n👨‍👩‍👧 Families & Budget-Conscious Savers\nPeople looking for structured financial management can:\n- Set up multiple savings plans (e.g., school fees, rent, medical emergencies).\n- Avoid impulsive withdrawals using the break-savings penalty feature.\n\n🏦 Fintech Startups & DeFi Projects\nStartups can:\n- Integrate Bitsave’s smart contracts into financial planning apps.\n- Leverage SaveFi’s non-custodial approach for secure on-chain savings.", "hidden": false, "question": "What features or use cases does your dApp/App present? How is it differentiated?", "questionId": 6}, {"type": "paragraph", "answer": "## Development Roadmap & Fund Allocation\n\n🎯Primary Goal - 1 million users in 2 years.\n\nBitsave aims to become the leading SaveFi protocol in web3, the next (Uniswap for SaveFi). Grant funds will support our growth, Contract security, and user experience.\n\n\nFunds will be used for Core Development\n\n-Multi-Chain: Establish Useability on Lisk, Arbitrum, and expand to Celo, Metis and other chains.\n\n- Smartchange on-ramp off-ramp feature: Bank transfers and P2P mobile money support and conversions to USDT, USDC, GLODOLLAR or GOODDOLLAR\n\n- Smart Contracts: Enhanced Parent-Child structure Audits, development, UI/UX\n\n- Group savings contract: Launch Group savings where users can save with their friends, family etc.\n\n\nFunds will be used for Growth Marketing, Merch Incentives, IRL marketing, partnerships and more\n\nUser Incentives: Referrals and savings streaks or savings chalenges.\n\nCommunity: Savings challenges with rewards.\n\nPartnerships: Students, businesses, market vendors\n\nGrant funding will accelerate our growth and establish Bitsave as the leading SaveFi protocol in web3.", "hidden": false, "question": "What are your plans for further development, and how will the grant funds be used to achieve these goals?", "questionId": 7}, {"type": "paragraph", "answer": "Deployer Address\n0x125629FAab442e459C1015FCBa50499D0aAB8EE0,  8453\n\n", "hidden": false, "question": "For any project deploying smart contracts on blockchain networks, please list all your deployer addresses and their corresponding blockchain networks. Use this format for each entry: [deployer_address], [chain_id]—for example, 0x123abc..., 42161 (This represents a deployer address on the Arbitrum network). Please include a separate line for each unique deployer address and blockchain combination.", "questionId": 8}], "project": {"id": "0x0d4cee5aba84526fa9bfab5c08a9ded987f2c948a46da395230c6c811b44eee6", "title": "Bitsave Protocol", "logoImg": "bafkreifc3ljhtbjgqlteoowbuqaffjtx7kg2xzvv6fv7g4wmvzpeq5m6oy", "metaPtr": {"pointer": "bafkreif5hegcs73c56edgnyrijenzulah36cwwm5vta2bdl4vev5phvxbe", "protocol": "undefined"}, "website": "https://bitsave.cryptosmartnow.io/", "bannerImg": "bafkreia2bxmmrm6awrr3anwrikm4g64ctkrcupusbdk4k34qiv5lsg7bka", "createdAt": 1713454673809, "userGithub": "BitsaveNigeria", "credentials": {"github": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..AE_kkujo2HDDljqUcCDwlPbiyepzw9FNrvOztfUfa3zfFBPTGIJqdnhj0geqy4adbdp5IH0DfKtOJzT-CsitAg", "type": "Ed25519Signature2018", "created": "2024-04-18T15:17:13.867Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-04-18T15:17:13.867Z", "expirationDate": "2024-07-17T15:17:13.867Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x72578e136E72A18A832be6762230a820f514d180", "hash": "v0.0.0:dkjUOIkl6HXfTnc9Ov8UlOtz++SNUpINuNaR84LOLBs=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextGithubOrg#CryptoSmartNow#107388068"}}, "twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..x_Si8QZrlThfGetg1kEqQI2kCkWX_ItOSZO23B7ziEM9pX5CdnilhbdnB95s5GvDoCk4yU9LU3Pwl08EB3Y5Dw", "type": "Ed25519Signature2018", "created": "2024-04-18T15:07:00.389Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-04-18T15:07:00.389Z", "expirationDate": "2024-07-17T15:07:00.389Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x72578e136E72A18A832be6762230a820f514d180", "hash": "v0.0.0:+g1I9noEbzCg57oGkzPWnjQ5xyvrrfO0M6LiQp2Dkcs=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#cryptosmartnow"}}}, "description": "# WHAT IS BITSAVE?\n\nBitsave is a savings protocol that helps users save in Cryptocurrency without losing their savings to Market volatility.\n\n# BITSAVE SOLUTION (simplified)\n\n- Bitsave helps everyday people in African Countries escape inflation in their fiat currencies by saving in dollars.\n- The dollar is not easily accessible to the average African through traditional banks, you have to go through many KYCed processes and get \n- Bitsave helps users create an automatic recurring savings plan with Stables.\n\n**How Bitsave Works**  \n[![save.png](https://i.postimg.cc/RFNQkQHG/save.png)](https://postimg.cc/gXbZRh46)\n\n**1. Creating a Savings Plan and Secure Deposits**  \n- Users initiate a savings plan by depositing funds in a stablecoin—not into a pooled DeFi protocol that might be vulnerable to hacks.  \n\n- During plan creation, the user sets specific parameters, triggering the deployment of a child contract under the Bitsave Protocol Parent contract. \n\nThis contract securely holds the deposited funds and is exclusively accessible via the user’s wallet.  \n[![create-sav.png](https://i.postimg.cc/MT9RpcyH/create-sav.png)](https://postimg.cc/sQZ1ngHC)\n\n- The Bitsave Parent-Child smartcontract design makes it such that each user's savings are directly tied to their wallet, so even in the event of a  protocol exploit, the hacker would need to get each users wallet private keys to access the funds. \n[![dur.png](https://i.postimg.cc/pXzSpx6x/dur.png)](https://postimg.cc/CzM72y06)\n\n- Every user’s savings deposit is tied to their wallet so that in case of an exploit, the hacker wouldn’t have access to user funds, except they have access to users' wallet private keys, this minimises the risks of users losing their funds to exploits.\n\n\n**2. Savings Plans and Fee Structure**  \n- When creating a savings plan, users incur a one-time $1 or less, fee for creating the Savings contract.\n\n\n**3. Break Savings Penalties**\nUsers set the penalty fee (1%–5% of their savings) when creating the plan. Users with bad savings habit who want to discipline them selves to save and discourage themselves from breaking their savings usually set the highest fee. If they break their savings early, the penalty is deducted.\n[![pen.png](https://i.postimg.cc/V5P0vXHq/pen.png)](https://postimg.cc/FkGHnkvz)\n\n**4. Multiple Savings Purpose and Naming**\nUsers can create multiple savings plans for different purposes and manage them on Bitsave; vacation, rent, school fees, emergencies etc.\n[![sav.png](https://i.postimg.cc/wTt1JxKt/sav.png)](https://postimg.cc/N5cGvcjY)\n\n**5. Top Up**\nBitsave Top-Up feature makes it easy, for users to create recurring savings for diferrent purposes; so if a user was saving for rent and they wanted to save $100 every month for 6 months, then all they need to do is create a Savings Plan for rent and top $100 every month.\n[![top-up.png](https://i.postimg.cc/mrQrZD0M/top-up.png)](https://postimg.cc/rdwTQ8yF)\n\n## SaveFi vs DeFi .....*Web3 Understands DeFi, Bitsave has introduced SaveFi.*\n\nGlobally, there are 4 popular players in Finance;\n-Banks (Including Co-Operatives, Credit Unions, Brokerage firms etc)\n-Centralized Exchanges\n-DeFi\n-SaveFI\n\nSaveFi is Both Decentralized and Affordable because it focuses on savings and not investments.\n[![savefi.png](https://i.postimg.cc/SK3t28Zj/savefi.png)](https://postimg.cc/4Kv1jKRT)\n\nSavings and Investments aren't the same thing.\n[![sa.png](https://i.postimg.cc/tCvwSnX5/sa.png)](https://postimg.cc/KRL04z3k)\n\n- Savings prioritizes safety and availability of funds over interests.\n- Investments prioritizes risks over safety of funds, for financial gain.\n\nBitsave Users are users who just want a tool that helps them keep money for the rainy days.\n\nBitsave users use Bitsave to save and not invest, they want to achieve their savings goals in the left side of this table👇🏽\n[![sav-in.png](https://i.postimg.cc/4dPVtvWG/sav-in.png)](https://postimg.cc/8JF7gv8X)\n\n# WHY BITSAVE?\n\n😌It's easy - Everyone is familiar with the concept of putting money aside for a raining day. And our UX makes it understandable for users to take the savings journey onchain.\n\n🧮It helps Personal Finance and Accountability for Web3 Natives who earn consistent income. Users can track their savings and manage withdrawals and expenses using Bitsave.\n[![sav-plan.png](https://i.postimg.cc/pXgBtfjR/sav-plan.png)](https://postimg.cc/RNLt7nGD)\n\n🧐Bitsave focus is on Savings, not investment, there are already superflous DeFi protocols that caters to investment purposes, Bitsave's Focus is on Savings only.\n\n\n## SAFETY FIRST --> Bitsave Parent-Child Contract Structure \n\nThe Child-Parent Contract Function in Bitsave is a contract structure feature that ensures users' funds remain safe;\n\n**Savings Plan Creation:**\nWhen a user sets up a savings plan on Bitsave, they are NOT depositing funds into a shared liquidity pool.\n\nInstead, a child smart contract is automatically generated based on their selected savings parameters of time, amount, name etc\n\nThat contract is created when a user \"Joins Bitsave\", you can see it here👇🏽\n[![join.png](https://i.postimg.cc/JzqTzm5G/join.png)](https://postimg.cc/cvv7FpjS)\n\nTransaction hash\nhttps://basescan.org/address/0x3593546078eecd0ffd1c19317f53ee565be6ca13\n\n\n**Child Contracts & Security:**\nEach child contract is directly linked to the user's wallet and funds are stored in this contract, making it isolated from other users' funds and preventing large-scale exploits.\n\nSince the funds remain within individual contracts, any attempt to move them requires wallet approval from the user.\n\n**Protection Against Exploits:**\n\nIf a hacker tries to breach Bitsave’s system, they won’t find a single pool of funds to drain.\n\nInstead, they would have to individually compromise each user’s wallet by getting their approval for transactions.\n\nFor instance, if Bitsave has 50,000 users, an attacker would need to obtain 50,000 separate transaction approvals, making the exploit practically impossible.\n\n**Compounding & User Benefits:**\n\nSince the funds are stored in individual contracts, recurring savings and top ups make it easier for users to just manage their savings.\n\n**Bitsave's introduction of SaveFi**\nDecentralized Protection: Users retain ownership of their funds, reducing the risk of centralized failures or large-scale hacks.\n\nNo Third-Party Custody: Bitsave never holds user funds, aligning with non-custodial DeFi principles.\n\nEnhanced Security Model: Even in a worst-case scenario, a hacker would need the user’s direct on-chain approval to steal funds, making mass exploitation nearly impossible.\n\n*The Future of Savings in Web3 is Savefi*\n\n\n## GOAL - 1 Million users \nBring a million savers onchain with Bitsave in 2 years.\n\n\n**Bitsave Events and Onboarding Sessions**\n1. Onboarding Seniors during our Bitsave Pizza Party\n[![DSC-4422.jpg](https://i.postimg.cc/5ts5TRtX/DSC-4422.jpg)](https://postimg.cc/TyWWWQgx)\n\nTweet Report\nhttps://x.com/BitsaveProtocol/status/1848739861081076009\n\n2. Meeting with Local Business People and Onboarding them.\nhttps://x.com/_karlagod/status/1854877185993056286?t=R42F7qUWFMiNrjnBj_i7ow&s=19\n\n\n\n**Our Github Repo**\nContracts\nhttps://github.com/CryptoSmartNow/bs_base\n\nFront End\nhttps://github.com/CryptoSmartNow/bitsave\n\n**Our Contract**\nhttps://basescan.org/address/0x3593546078eecd0ffd1c19317f53ee565be6ca13", "lastUpdated": 0, "projectGithub": "CryptoSmartNow", "projectTwitter": "cryptosmartnow"}, "recipient": "0x72578e136E72A18A832be6762230a820f514d180"}}