FAQ

Can I lose my funds on BitSave?

BitSave is a non-custodial savings protocol, meaning your funds are held in your own dedicated ChildBitsave contract, not in a pooled vault. However, if you configure a penalty for early withdrawal and withdraw before your savings reaches maturity, a portion of your principal may be deducted according to the penalty rules you selected.

There is no liquidation mechanism and no counterparty risk from other users.

Are my funds pooled with other users' savings?

No. BitSave does not pool user funds. Each user is assigned a unique child contract (ChildBitsave) at registration. All savings, balances, maturity data, and withdrawals for that user live exclusively inside that contract. Funds are never commingled with other users’ savings.

Where exactly do my funds live?

When you create or increment a savings:

1. Funds are transferred to the parent Bitsave contract.

2. The parent contract immediately forwards the funds to your ChildBitsave contract in the same transaction.

Once deposited, your funds live entirely inside your child contract until withdrawal. The parent contract does not retain long-term custody of user assets.

Can I withdraw my savings anytime?

Yes, withdrawals are always possible, but the outcome depends on maturity:

• After maturity, you receive your full principal.

• Before maturity, an early withdrawal penalty (if configured) is applied.

All withdrawal logic is enforced by smart contracts and executed from your child contract.

What happens if I withdraw early?

If you withdraw before the savings maturity time, the configured penalty is applied to your principal. The remaining amount is transferred back to your wallet.

Penalty rules are defined when the savings is created and cannot be bypassed once set.

Does BitSave generate yield or interest?

BitSave is designed as a savings-oriented protocol, not a lending or yield aggregation system. Savings positions track principal, maturity, penalties, and internal accounting points, but funds are not lent out or pooled for yield generation.

Any incentive mechanisms are protocol-defined and enforced on-chain.

Which tokens can i save with BitSave?

BitSave inherently supports any ERC-20 token at the protocol level. However, the bitsave.io client currently enables the following tokens:

Base

• USDC

• USDGLO

Celo

• USDGLO

• GoodDollar

• cUSD

• USDC

Lisk

• USDC.e

Support varies by network and frontend configuration.

Can I have multiple savings plans?

Yes. Each user has one child contract, but that contract can manage multiple savings positions, each with its own principal, maturity time, and penalty configuration.

All savings for a user are tracked independently within the same child contract.

Can anyone access or withdraw my savings?

No. Only withdrawals executed through your child contract and authorised by the parent Bitsave contract can move your funds. Other users cannot interact with or access your child contract’s balances.

Is BitSave audited?

BitSave is designed with simplicity, fund isolation, and minimal custody risk as core principles. As with any on-chain protocol, users should review the smart contracts and understand the mechanics before depositing funds.