metadata: {"signature": "0x2389f4fdad8e85c53aeba9dd4b70062681cc735d4833faf1da8b2ca6d2084e566ace013d1e020b96d04c17b8f5fb94acf32cc8c94f65fade6f70b99fc8a7264e1b", "application": {"round": "0x347ff9951d24e29b559e3323b5370aa29993e613", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "ZLg0fjziNkmdVFxKdG4rTwAy87hOiEZz+5H4LK+8xIOLz0LOePvlq+BFIGIgIIoz", "encryptedSymmetricKey": "5005a9956160066c1d83528dcce12307ed9cd9acb72a26778c6b92f6edcc7cb4689527db4c24eed48e2f10faa6bf6e16a71492508a778b7e7b9b52f3da987517e5740198a176093fda13138b3812cccf707fe2eccd1b0f8912a84d94e205b9b2b3f491d2ab0c6d0345a5d92ca5b1cd5a308427c3a1c9580944ecdceb6b730fd500000000000000201d3e69c8b4a6c92e475f6ba8f2c105af590962a45d08eb0974fa0c094b84e8603eae04ad9ef12c5167110ee94b3d1888"}}, {"type": "short-answer", "answer": "3,000 From Hackathon, 1,875 ARB from Arbitrum Jokerace", "hidden": false, "question": "Funding Sources (how is the project financed outside of this round)", "questionId": 1}, {"type": "number", "answer": "5", "hidden": false, "question": "Team Size (including full and part time)", "questionId": 2}, {"type": "paragraph", "answer": "\nBitsave is a CollabTech in these areas:\n\nBitsave addresses key aspects of on-chain organizations, the evolution of B2B SaaS, and the future of work.\n\n\n1. On-chain Organizations:\nBitsave leverages blockchain technology to offer secure and transparent savings solutions. By creating individual child contracts for each user's savings plan, Bitsave ensures that funds are safely stored and only accessible by the user's wallet. This aligns with the on-chain organization theme by utilizing decentralized and trustless mechanisms to protect users' savings.\n\n2. Evolution of B2B SaaS:\nBitsave represents the evolution of B2B SaaS by providing a savings protocol that businesses can integrate into their financial operations. Companies can offer Bitsave as a savings option for employees, helping them protect their funds from inflation and volatility while earning interest. This showcases how blockchain-based solutions can enhance traditional SaaS offerings with added security and financial stability.\n\n3. Future of Work:\nBitsave contributes to the future of work by enabling individuals and businesses to manage their finances more effectively in a decentralized environment. The ability to create tailored savings plans and earn rewards in stable coins promotes financial inclusion and stability, especially in regions with volatile fiat currencies. This empowers users to focus on their work and creativity without worrying about the devaluation of their savings.\n\n4. Operations (Accounting, Sales Automation, Inventory Management, Talent, etc.):\nBitsave can be integrated into various operational aspects of businesses. For accounting, it provides a clear and transparent way to manage and track savings. For talent management, businesses can offer Bitsave as a benefit to employees, promoting financial well-being and retention. This integration enhances the overall efficiency and effectiveness of business operations.\n\n5. Community and Contributor Tooling:\nBitsave fosters a sense of community by providing a reliable savings platform for individuals, creatives, and businesses. The reward system in native tokens encourages community engagement and participation. Additionally, the protocol's transparent and decentralized nature allows contributors to develop and enhance the platform, driving continuous improvement and innovation.", "hidden": false, "question": "How is the project CollabTech?", "questionId": 3}, {"type": "paragraph", "answer": "African Countries are the Targeted User Group\n\nThe need being addressed is accessibility to USDT and protection from inflation on local savings.", "hidden": false, "question": "Who's the targeted user group and what's the need/problem being addressed?", "questionId": 4}, {"type": "paragraph", "answer": "Protocol Fees", "hidden": true, "question": "How do you ensure value keeps being delivered after the round is over? (How will the project become commercially sustainable or a perennial good? )", "questionId": 5}, {"type": "paragraph", "answer": "It'll take 1 quarter.\n\nMilestone #1 : Complete Core Development Functions\nExpected Completion Date: September 30th, 2024\n\n- Completed goals:\ni. Deployed on Arbitrum testnet\nii.Generated ABI for Front end integrations\niii. Completed v.1 UI\n\n- Work in Progress:\ni. Front End integrations\nii. Smart Contract audits\niii. Onchain analysis Data Managment\n\n- Growth goal:\ni. 100% core features product functionality.\nii. 600 Internal and community test\n\n- How to track progress:\ni. Dune dashboard designed to Foundation's satisfaction\nii. Bi-Weekly reports\n\nMilestone #2 : Community Test & Iterations\nExpected Completion Date: October 30th, 2024\n\ni. Announce Test instructions\nii. Planned Incentives\niii. Onboard Waitlisters and get test feedback\niv. Deploy iterations\n\n- Growth goal:\ni. Achieve 90% satisfaction rate feedback\nii. Use Test activity to generate social 20k Social impression and publicity\n\n- How to track progress:\ni. Google form feedback forms\nii. Dune activity reports\n\nMilestone #3 : Launch & Move to Mainnet\nExpected Completion Date: November 15th, 2024\n\ni. Launch On Mainnet\nii. Integrate in-dApp referrral contests\niii. Community Rally and point based user traction\niv. Event marketing\nv. IRL Marketing activities\n- Onboarding Small Businesses who need alternative savings plans for holding their revenues and profits.\n\n- Open new arb wallets for these individuals\n- Send them at least $1 in Arb Eth to set up their savings plan immediately\n- After 1 month of them consistently saving, help them purchase a Space ID or ArbDns\n\n- Growth goal:\ni. 300 Weekly Active Users\nii. 500 Savings plans created monthly\niii. 10% User increase weekly\n\n- How to track progress:\ni. Savings Plan Growth\nii. Referral marketing metrics", "hidden": true, "question": "How long will it take after funding is received to deliver value? (share a high level timeline)", "questionId": 6}, {"type": "paragraph", "answer": "@cryptosmartnow", "hidden": true, "question": "Contact info (telegram handle or whatsapp)", "questionId": 7}], "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 \ud83d\uddd2\ufe0f***\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"}}