Sava

We're addressing a big problem in Latam: 60% of Latin Americans don't save at all.

Sava is a descentralized application that allows any person to save money collaboratively by creating a savings pool and inviting friends to join.

The DApp allows participants to quickly engage with each other in a game to lock their savings into a yield earning pool where the faster person to complete their contribution wins the yield.

Users can create a savings pool by specifying a name, a savings goal that all pool users are aiming for, and a target date to achieve it.

A friend can join a pool by sending money to it. Then they will share the same savings pool and will share the savings goal.

We strongly believe that adding a social component to savings efforts will encourage people to save more.

We've conceived a mobile first user experience where users can get started with a social login like Google or Facebook or with a wallet in order to reduce the friction in the onboarding.

The project was initiated with Scaffold.eth. We created a Smart Contract in Solidity which manage all the logic of the DApp: from creating a saving pool to allow users to claim their savings and rewards (if apply). We also built a mobile-first React application which uses web3js to call the smart contract through RPC.

We used Web3Auth to facilitate the onboarding because we're targeting people both kind of users: people who are not familiar with crypto and crypto-friendly users. Web3Auth allow us to have a simple user onboarding by allowing joining a savings pool with a social login or connecting a wallet.

AAVE is intended to be the yield mechanism of the platform and Polygon was the EVM protocol that the dApp was built on top of. We are using Polygon because of its quick finality times, its cost effective gas costs and, most importantly, its DeFi ecosystem which makes Sava's platform rewards work.

The smart contract is running on Mumbai Testnet: 0x23aEbE528C2ef0C269418d72F5F344B13cA74DED

We are very excited about our final result because we were able to create a descentralized collaborative savings app with a smooth experience that covers all the use cases we wanted to cover.

We think that allowing users to create their own savings pool with their rules is also creating a kind of micro-DeFi which is a very interesting approach for a future where people can create communities with their own goals and rules.