The Bitsave Protocol

The Bit Save protocol will enable users to perform SaveFi activities where the goal is to save, earn and temporarily lock funds for different purposes.

What is SaveFi?

This is a cross between saving in crypto and performing DeFi activities. The BitSave protocol allows users to perform savings activities on the Algorand Blockchain like;

  1. Access too little amounts of crypto for savings; buying as little as $10 for saving purposes.
  2. Easy to use interface with layouts to aid self-adjusting functionalities.
  3. Access to ‘How-to’ knowledge on SaveFi activities using Bit Save.
  4. Beating fiat inflation through savings in Crypto.
  5. Doing DeFi with high-performing assets like goBTC or goETH on Algomint without the exorbitant fees.

 

Maximizing your Bitsave

  • Set a savings purpose.
  • Set a savings period
  • Set an unlock period.
  • Chose the Savings asset(s).
  • Make unlimited deposits without withdrawal (at least $10)
  • Choose a penalty fee for breaking savings, 5, 8, or 10%

Users will carry out DeFi activities like staking, borrowing, swapping assets, and earning. Bit Save will connect savers with borrowers using smart contracts.

The Bit Save platform will interact with platforms like AlgoMint to enable DeFi activities with high-value assets like Bitcoin, Ethereum, and more.

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