Bitsave Protocol
Bitsave is a cryptocurrency savings protocol for African users to save in stablecoins, earning interest while avoiding market volatility and inflation, with tailor-made savings plans and security measures.Application
Applied on: 26 Jul 2024 08:06 PM
Rejected
User Review
AI Review
A1
Reviewed on 26 Jul 2024 09:00 PM
CollabTech project - organisations on-chain, evolution of B2B SaaS, network states tooling & DAO tooling, and future of work; projects advancing reputation, governance & decision making, operations (accounting, sales automation, inventory management, talent, etc), community, and contributor tooling!
Bitsave touches on on-chain organizations, evolution of B2B SaaS, and the future of work. It also advances operations by helping users manage savings effectively and securely.
Commercial viability or perennial Public Goods: projects addressing a clear need for a specific target user and with the ability to continue to deliver value over time (financial sustainability through business model and/or immutability)
Bitsave addresses a clear need for users in African countries to protect their savings from inflation and has a revenue model through protocol fees. This implies financial sustainability.
Maximum project development duration of 12 weeks (i.e. value delivered within 12 weeks)
Bitsave's timeline indicates that it will take one quarter (3 months) to deliver value, which exceeds the 12-week maximum project development duration requirement.
Threshold: Projects must declare a 'threshold' (minimum amount of funds needed to complete the project/feature/prototype and deliver value). Thoroughness in defining their threshold and feasibility (threshold within the range of match-funding available) will be key for approval into the round. Projects not able to attain the threshold (with combined donations + match funding), will not receive match funding but can still keep donations.
The project description does not clearly specify the threshold amount or the detailed breakdown of costs. The feasibility of the threshold within the range of match-funding available is not discussed.
General Criteria: Incomplete, poorly structured, unfeasible, or otherwise poorly conceived applications will be rejected.
The application is well-structured and complete. However, due to the failure to meet the 12-week maximum project development duration, it is not eligible.