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: 22 Apr 2024 09:14 PM
Rejected
User Review
AI Review
A1
Reviewed on 22 Apr 2024 10:01 PM
Advance the field of token engineering (tldr; economics and system design with crypto / design and analysis of cryptoeconomic systems)
The Bitsave Protocol provides a novel approach to savings in cryptocurrency, focusing on reducing volatility and market risks for users, which aligns with advancing the field of token engineering through economic and system design.
Focus on token engineering research, education, software development and/or social infrastructure
The project's description highlights the development of a savings protocol that is based on economic formulas and rate-setting algorithms, indicating a focus on software development within the token engineering space.
Be a public good
Bitsave Protocol aims to address inflation issues and provide a stable savings mechanism in cryptocurrency for the average user in African countries, which can be considered a public good as it contributes to financial stability and inclusion.
Specify your short-term goals (within the scope of the grant) and long-term vision of their projects
Despite providing a clear description of the project's function, the material provided does not detail specific short-term goals or a long-term vision for the scope of the grant.
Provide some proof of already existing work and list any recent milestones, even if small, to be included into the round
The project has active repositories on GitHub, with a number of commits in the past 3 months, which serves as proof of already existing work and progress on the project.
Have a project update - If you are a returning grantee, you must provide an update on what work has been accomplished since the last grant round your project received funding from
There is no information provided that verifies Bitsave Protocol as a returning grantee or details any updates on the project's progress since the potential previous grant round.
Have a verified Twitter account
The provided Twitter link leads to a page, but there is no indication from the supplied information that the account is verified with the blue checkmark as typically required to meet this criterion.