Bitsave's savings plan creates a child contract under the parent contract, securing deposits to the user's wallet. Hackers cannot access funds unless they have access to the wallet, unlike DeFi pools.
Bitsave calculates interest using a formula that combines variables and constants, including its own rate formula. Additionally, the protocol has a buy-back mechanism for its native tokens, ensuring their stability and liquidity.
Users 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 ecosystem.
Bitsave 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.