Description
WHAT IS BITSAVE?
Bitsave is a protocol that enables web3 income earners save onchain and helps real world businesses raise capital and pay dividends onchain.
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Mission
We’re building a financial infrastructure for the real economy onchain, our SaveFi product helps individuals and businesses save securely, our BizFi product helps businesses access growth capital through tokenized debt and revenue instruments.
Bitsave bridges the wealth gap through blockchain.
Solution
We help people in emerging markets do two things banks won't:
- SaveFi - Save safely onchain without minimum balances, hackable pools or discriminatory barriers.
- BizFi - Access growth capital without impossible collateral requirements
Onchain savings for people
Onchain capital for businesses
That’s Bitsave!
How Bitsave SaveFi Works
1. Creating a Savings Plan and Secure Deposits
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Users initiate a savings plan by depositing funds in a stablecoin—not into a pooled DeFi protocol that might be vulnerable to hacks.
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During plan creation, the user sets specific parameters, triggering the deployment of a child contract under the Bitsave Protocol Parent contract.
This contract securely holds the deposited funds and is exclusively accessible via the user’s wallet.
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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.
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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.
2. Savings Plans and Fee Structure
- When creating a savings plan, users incur a one-time $1 or less, fee for creating the Savings contract.
3. Break Savings Penalties
Users 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.
4. Multiple Savings Purpose and Naming
Users can create multiple savings plans for different purposes and manage them on Bitsave; vacation, rent, school fees, emergencies etc.
5. Top Up
Bitsave 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.
SaveFi vs DeFi .....Web3 Understands DeFi, Bitsave has introduced SaveFi.
Globally, there are 4 popular players in Finance;
-Banks (Including Co-Operatives, Credit Unions, Brokerage firms etc)
-Centralized Exchanges
-DeFi
-SaveFI
SaveFi is Both Decentralized and Affordable because it focuses on savings and not investments.
Savings and Investments aren't the same thing.
- Savings prioritizes safety and availability of funds over interests.
- Investments prioritizes risks over safety of funds, for financial gain.
Bitsave Users are users who just want a tool that helps them keep money for the rainy days.
Bitsave users use Bitsave to save and not invest, they want to achieve their savings goals in the left side of this table👇🏽
Bitsave BizFi
BizFi is Bitsave's new product suite, that enables businesses, organizations, and large-scale projects to tokenize their assets, raise capital and pay dividends onchain.
Web3 Natives: BizFi is DeFi and RWA for businesses.
Web2 Natives: BizFi is how real-world businesses access capital from the web3 space.
WHY BITSAVE?
😌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.
🧮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.
🧐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.
WHY BIZFI FOR BUSINESS?
💡 It's accessible - No perfect credit score needed. No impossible collateral requirements. Just real businesses with real revenue getting access to real capital through tokenization.
📈 It's transparent - Track everything from one dashboard: capital raised, investor count, token price, business metrics. Your investors see verified data before they invest. Trust is built onchain, not through intermediaries.
⏱️ It's built for speed - Traditional fundraising takes months or years. BizMarket takes weeks. List → KYB & Profiling → Launch → Funded.
🎯 Everyone has a tier - From $500/month micro businesses to $1M+ enterprise projects—if you're building something real, there's a place for you.
SAFETY FIRST --> Bitsave Parent-Child Contract Structure
The Child-Parent Contract Function in Bitsave is a contract structure feature that ensures users' funds remain safe;
Savings Plan Creation:
When a user sets up a savings plan on Bitsave, they are NOT depositing funds into a shared liquidity pool.
Instead, a child smart contract is automatically generated based on their selected savings parameters of time, amount, name etc
That contract is created when a user "Joins Bitsave", you can see it here👇🏽
Transaction hash
https://basescan.org/address/0x3593546078eecd0ffd1c19317f53ee565be6ca13
Child Contracts & Security:
Each 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.
Since the funds remain within individual contracts, any attempt to move them requires wallet approval from the user.
Protection Against Exploits:
If a hacker tries to breach Bitsave’s system, they won’t find a single pool of funds to drain.
Instead, they would have to individually compromise each user’s wallet by getting their approval for transactions.
For instance, if Bitsave has 50,000 users, an attacker would need to obtain 50,000 separate transaction approvals, making the exploit practically impossible.
Compounding & User Benefits:
Since the funds are stored in individual contracts, recurring savings and top ups make it easier for users to just manage their savings.
Bitsave's introduction of SaveFi
Decentralized Protection: Users retain ownership of their funds, reducing the risk of centralized failures or large-scale hacks.
No Third-Party Custody: Bitsave never holds user funds, aligning with non-custodial DeFi principles.
Enhanced 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.
The Future of Savings in Web3 is Savefi
GOAL - 1 Million users
Bring a million savers onchain with Bitsave in 2 years.
Bitsave Events and Onboarding Sessions
- Onboarding Seniors during our Bitsave Pizza Party
Tweet Report
https://x.com/BitsaveProtocol/status/1848739861081076009
- Meeting with Local Business People and Onboarding them.
https://x.com/_karlagod/status/1854877185993056286?t=R42F7qUWFMiNrjnBj_i7ow&s=19
Our Github Repo
https://github.com/CryptoSmartNow/bitsave_lisk
Contracts
https://blockscout.lisk.com/address/0x3593546078eECD0FFd1c19317f53ee565be6ca13