{"signature": "0x7f92901ec65af27b95dd6cf70a0f7e4a36c771690da4ededf1c17ee849d77e0d322476fa23e166069dec7fcb7a3ea7940ba53c817e10d7484c537a8badd541f11b", "application": {"round": "0xc1cffd1845deee83ab44cae123738a854593bcd2", "answers": [{"type": "checkbox", "answer": ["dApps & Apps", "Stylus"], "hidden": false, "question": "How does your project contribute to the advancement of the Arbitrum ecosystem?", "questionId": 0}, {"type": "paragraph", "answer": "Here are some ways Bitsave is making a difference in the Arbitrum ecosystem:\n\nSeamless Arbitrum Integration: Built on the Arbitrum network, Bitsave leverages Layer 2 scaling to boost transaction efficiency and cut user costs. Arbitrum's optimistic rollup technology ensures a stable and secure savings and yield generation environment.\n\nPromoting Financial Inclusion: Bitsave's commitment to financial inclusion makes it an ideal gateway for Web2 users to explore Web3. By offering a user-friendly savings experience with stablecoins, Bitsave attracts users wary of volatile cryptocurrencies, driving the adoption of Arbitrum and DeFi applications within its network.\n\nSupporting Arbitrum Developers: As a growing protocol. An example of this is what happened when we were trying to deploy our contracts on Arbitrum, there were contract debugging issues we had that weren't addressed on the Arbitrum Docs, right now, our developers are teaching other Arbitrum Stylus devs how to get past this challenge, further enhancing the overall developer community within Arbitrum. \n\nStrengthening Arbitrum’s Foundation: Bitsave provides a stable and secure savings solution, bolstering Arbitrum’s foundational infrastructure. By focusing on user experience, security, and community engagement, Bitsave improves Arbitrum’s reputation, attracting more developers and users to the network who would want to build similar SaveFi projects, knowing that almost everything is open source in web3, devs would definitely want to pursue the SaveFi trend, and Bitsave would be the standard for that.\n\nCreating New Use Cases for Stablecoins: Bitsave’s savings model enables users to earn interest on their  stablecoin savings like DAI, USDT, and USDC. This creates new use cases for stablecoins within Arbitrum, potentially increasing their adoption and further stabilizing the network.\n\nIncentivizing Liquidity Providers: Bitsave enhances Arbitrum’s foundational infrastructure by providing a reliable savings solution, drawing in new Web2 users, supporting developers, creating stablecoin use cases, incentivizing liquidity providers, and contributing to the overall growth and adoption of the Arbitrum ecosystem.", "hidden": true, "question": "Describe your previous work or plans related to the Arbitrum ecosystem. How does your project strengthen Arbitrum's foundational infrastructure, improve developer efficiency, or accelerate the adoption of novel applications?", "questionId": 1}, {"type": "paragraph", "answer": "### **HOW BITSAVE IS UTILIZING ARBITRUM 🔵**\n\n1. Smartcontract Direct Deployment [***(Here's our repo)***](https://github.com/CryptoSmartNow/bitsave_stylus)\n    \n    Bitsave already uses the Smart contract Infrastructure of Arbitrum;\n    \n    - Rust\n    - Using Stylus SDK\n    - Leveraging Offchain Labs guide\n    - Leveraging Stylus Testnet and other Faucets for testing\n2. Arbitrum Name Service\n    \n    Leveraging Arbitrum Name Service or Space ID for:\n    \n    - Group savings features.\n    - Leaderboard Rewards display\n    - Leveraging SpaceId for SaveFi's social activities and community tasks.\n3. Token creation infrastructure on Arbitrum\n    \n    $BTS reward token will leverage Arbitrum Infrastructure.", "hidden": true, "question": "If applicable, describe how your project leverages Stylus or Arbitrum Orbit Chains. What unique capabilities or use cases does this enable?", "questionId": 2}, {"type": "paragraph", "answer": "1. Karla Obakpolor - https://www.linkedin.com/in/karla-obakpolor-932b1b44/\n\nI am the founder of Crypto Smart, a B2B asset management company.\n\nI founded Crypto Smart in Feb 2021 with a small team, and since then we have consisitently made progress.\n\nWe have established:\n\n1. A Tech-Not-For profit - B<>rder/ess http://borderless.cryptosmartnow.io/\n\n2. A Trading Academy - https://academy.cryptosmartnow.io/\n\n3. A good ecosystem partner relationship with Algorand Blockchain\n\n4. And the completion/invention of the Bitsave Protocol - https://bitsave.cryptosmartnow.io/\n\nand a lot of other things, all without raising any funding.\n\n2. Primidac - https://github.com/primidac\n\nPrince Michael Dalafi aka Primidac is the Chief Technology Officer of Crypto Smart since early 2022, been coding since 2014\n\n3. Great Adams - https://github.com/greatAdams01\n\nGreat Adams is a developer proficient in Javascript and solidity one of the tutors in the B<>rder/ess dev program, he joined the Crypto Smart Tech Team in 2021.\n\n4. Xpan Victor - https://github.com/xpanvictor\n\nVictor is the lead Developer for Bitsave Protocol, he contributed to the foundational maths and logic developement for the Bitsave protocol in 2022.", "hidden": true, "question": "Describe your team's expertise in your chosen focus area within the Arbitrum ecosystem. Include relevant experience, publications, or past projects.", "questionId": 3}, {"type": "short-answer", "answer": "https://gap.karmahq.xyz/project/bitsave-protocol/grants?tab=milestones-and-updates", "hidden": true, "question": "Please provide a link to Karma GAP, where you are tracking and reporting on milestones.", "questionId": 4}, {"type": "paragraph", "answer": "We're live on Testnet:\nhttps://bitsave.netlify.app", "hidden": true, "question": "List any contract addresses with the associated network(s), EOAs, or deployer addresses your project has deployed.", "questionId": 5}, {"type": "paragraph", "answer": "Arbitrum Minigrant Jokerace", "hidden": true, "question": "Have you received any previous grants or support for your work in the Arbitrum ecosystem? If so, please provide details and estimated funding amounts.", "questionId": 6}, {"type": "dropdown", "answer": "Yes", "hidden": true, "question": "Please confirm that you have read and agree to comply with the ethical standards outlined in the eligibility criteria, including Gitcoin's Quid Pro Quo policy (https://support.gitcoin.co/gitcoin-knowledge-base/gitcoin-grants/general-questions/what-is-our-quid-pro-quo-policy)", "questionId": 7}, {"type": "paragraph", "hidden": true, "question": "Do you have any potential conflicts of interest to disclose? If yes, please provide details.", "questionId": 8}, {"type": "paragraph", "hidden": true, "question": "Would you like to share anything else about your project, team, or vision for the Arbitrum ecosystem that wasn't covered in the previous questions?", "questionId": 9}], "project": {"id": "0x0d4cee5aba84526fa9bfab5c08a9ded987f2c948a46da395230c6c811b44eee6", "title": "Bitsave Protocol", "logoImg": "bafkreibum6gxbqfw2myxl2zo34wbhuzmtirb4tjzg3jqr6jnnl3sjbq6nu", "metaPtr": {"pointer": "bafkreigammy4dghhzrgaruw7fbkwfxqcmgjq2ahmfq3puadbeki6ocaowu", "protocol": "undefined"}, "website": "https://bitsave.cryptosmartnow.io/", "bannerImg": "bafkreia6whvd2ielb3yz7vpvckmezvzn3fx6vpuj3ct4mfc2723cdzgoxm", "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 and earn in Cryptocurrency without losing their savings to Market volatility.\n\nBITSAVE SOLUTION (simplified)\n\n- Bitsave helps web2 users in African Countries escape inflation in their fiat currencies by saving in dollars.\n- The dollar is not easily accessible to the average African.\n- Bitsave helps users create an automatic recurring savings plan\n\nWe've seen newbies lose their savings like school fees, house rent, college funds etc to Crypto, we understand that people hear about crypto and want to rush in immediately.\n\nWith Bitsave, newbies and oldies can protect their funds from market volatility, while still earning interest in crypto, a protocol that works based on maths and economic formulas to set rates and pay interests.\n\n***How does Bitsave work?***\n\n1. Users typically save in a Stable coins, DAI, USDT or USDC\n\n[![AF7v-Gr-N-Imgur.jpg](https://i.postimg.cc/KvGCG2Lx/AF7v-Gr-N-Imgur.jpg)](https://postimg.cc/V5hKg2DV)\n\n2. Users can create a savings plan and make unlimited deposits to their savings plan, e.g., \"Rent, School fees, Vacation\" etc, and they earn rewards in the protocol tokens $BTS, typically the native token of the Bitsave Protocol.\n\n[![fy-PBgl-B-Imgur.jpg](https://i.postimg.cc/FszjGxtb/fy-PBgl-B-Imgur.jpg)](https://postimg.cc/mtxzgCgh)\n\n3. Users can create a savings plan in 3 simple steps, and set different parameters for their savings plan;\n\n- Name your savings plan\n- Set the duration for your savings, using the calendar\n- Set a penalty fee if you forfeit your savings\n\n[![image.jpg](https://i.postimg.cc/zGnSRGZ4/image.jpg)](https://postimg.cc/3kxDs7wZ)\n\n[![n-ROUm-OO-Imgur.jpg](https://i.postimg.cc/TP2GW0Hm/n-ROUm-OO-Imgur.jpg)](https://postimg.cc/VJh2xqwL)\n\n[![image-1.jpg](https://i.postimg.cc/cCR5hyvJ/image-1.jpg)](https://postimg.cc/zHfjDQSm)\n\n[![4-J1l-BRY-Imgur.jpg](https://i.postimg.cc/MHV88QN9/4-J1l-BRY-Imgur.jpg)](https://postimg.cc/4Hf06mJc)\n\n***A Side Note 🗒️***\n\nBitsave isn't just another product, it's a new value chain. The web3 space is used to DeFi which are investment protocols, and now we're introducing them to SaveFi which are savings protocols that prioritize the stability of user savings over earning from crypto volatility.\n\nWHAT HAPPENS IN THE BITSAVE PROTOCOL\n\n1. Users Create a Savings plan and deposit in a Stable Coin.\n\n- Users aren't depositing into a pool like DeFi protocols that a hacker could access.\n\n- When a user is creating a savings plan, they're giving parameters for a child contract to be created under the Bitsave Protocol Parent contract which holds their funds and is only accessible by their wallet.\n\nThis makes it such that 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 user's private keys.\n\n1. Users' Interests\n- Interests are calculated using several variables and constants in the algorithm;\n-Simple interest formula\n-Bitsave Rate formula.\n-Bitsave has a buy-back mechanism that buys\n\n2. Users' Savings Plans and Fees\nUsers are charged a 1-time savings fee on savings plan creation (child contract), every fee is split in a 50:50 ratio, where 1 part goes to a buy-back wallet to buy back the protocol native tokens from any AMM or Dex in the native chain's ecosystem.\n\nCONCLUSION\nBitsave isn't just another product, it's a new value chain, The web 3 space is used to DeFi, and now we're introducing them to SaveFi.\n", "lastUpdated": 0, "projectGithub": "CryptoSmartNow", "projectTwitter": "cryptosmartnow"}, "recipient": "0x72578e136E72A18A832be6762230a820f514d180"}}