Savedroid Banner with Claim: Save Yourself
Since the article, the team has developed the app continuously. Thus, the accumulated credit can now be issued with a virtual MasterCard directly in the online shop. So, if you have reached your savings target, you do not have to rethink your account. In addition, there are first savings tips that allow users to reduce their running costs so that more money is left to save. With the right Smoove you can automatically save the savings on the previous tariff or any bonus.
It all seems to arrive well. According to company information, the app has been downloaded more than 200,000 times since its launch in mid-2016. How many of them are active users is not published, but the majority of them are between 18 and 34 years old - and surprisingly about 50:50 spread to men and women. Over 10 million savings transactions have been carried out, but the volume remains secret.
Save in cryptocurrencies in the future, too
So far, the small and large savings amounts are transferred to a non-discounted savings account at Wirecard Bank and accumulated there. Given the current interest rate environment, this is fundamentally OK for the short-term savings targets. For longer-term asset accumulation, on the other hand, higher-yielding investments are more attractive. For the very tech-savvy target group of Savedroid, there should now be a new way of asset accumulation in the future. And it's not about stocks or funds, it's about cryptocurrencies.
To buy these is currently rather uncomfortable and therefore, unfortunately, rather something for nerds. This is where Savedroid wants to start and simplify regular savings in cryptocurrencies for the breadth of society. As early as 2018, according to the company's roadmap,automated investing in well-known Coins such as Bitcoin, Ethereum and Bitcoin Cash, as well as other Altcoins such as Ripple, Litecoin, IOTA, Dash, Stellar will be possible. From 2019, a self-learning algorithm should simplify conversions between the coins and payment transactions with the coins. In the final stage of development, smart algorithms from 2020 should offer the creation of diversified portfolios, from which one can then generate regular income.
Start-up financing via ICO
Implementing these plans will be anything but trivial for the rather young fintech. For the construction of the platform and the algorithms it needs highly specialized developers, crypto professionals and certainly also expensive legal advice. Moreover, since the high investments are only worthwhile if the costs can be distributed to the broadest possible user base, a massive marketing offensive is needed.
Group picture with dog: The founding team of Savedroid (Source: Savedoid / Pressekit)
All this costs enormous sums of money, which the company does not have, despite some successful rounds of financing. And the current operating business is unlikely to deliver positive cash flow from which to invest. What is closer to a crypto-currency fintech than to finance the plans through its own ICO? And that is actually happening in the first quarter of 2018 as well. (Click here for the English-language white paper on the ICO ).
A total of 10 billion units are to be generated by the SVD called tokens. A total of 6 billion units will go on sale and will be issued at the rate of one euro per 100 SVD tokens. However, from the pre-sale phase already completed (500 million units), buyers will receive a 30% early-stage bonus. If the ICO sold out fully, Savedroid would flow so good 58.8 million euros. Unclaimed tokens from the sale are "burned", reducing the total amount.
For this Savedroid needs the capital
As already mentioned, massive investments have to be made in marketing for the necessary customer growth. And so lukewarm whitepapers are also 50% of the sales proceeds - ie up to 29.4 million euros - flow there. 30% goes into technical development and further shares in banking and rights consulting. The advisors not only receive cash, but also a portion of the SVD tokens that are not put on sale.
But the community also benefits from rewards as part of a bounty program. For example, helpers who translate the white paper into other languages receive free tokens as a reward, as do prolific social media supporters reporting on the ICO. Last but not least, there are also rewards for mediated investors in the context of a "customer advertising customer" program (advertising link *), which is now part of the standard repertoire for many companies. After all, 5% of all tokens are reserved for this bounty program.
SVD tokens as in-app currency - and with profit potential?
The SVD tokens are so-called utility tokens that are used as currency in the Savedroid app. So if you want to trade cryptocurrencies via Savedroid, you will probably have to pay or at least be able to pay your trading fees in SVD tokens. However, that's just a dream of the future, because currently Savedroid does not offer any services that are payable. The white paper remains vaguely vague at this point, but it's fair to point out this issue as well.
Ultimately, it is the case that the buyer of the token, in principle, pre-empt his future transaction costs. Of course, that does not sound really sexy, so Savedroid has an incentive. Whenever the SVD tokens are used to pay fees, some of the tokens are "burned". As a result, the total amount of tokens decreases over time. Of course, this increases the chances that the SVD tokens will increase in value over the long term - an argument for investing in the current crypto-hype.
In order for it to really happen that way, the actual business model of Savedroid has to start just as well. There is certainly a significant risk here, because the promise of value-added is essential in facilitating access to cryptocurrencies for the masses. For this to work, two conditions must be fulfilled simultaneously. On the one hand, the crypto-boom has to continue in the future, as before. Otherwise, the addressable audience for Savedroid would be just too small. At the same time, success requires that the purchase of cryptocurrencies through the trading venues continue to provide such a poor UX as before.
outlook
The pre-sale of the Savedroid ICO has gone really well. All offered SVD tokens were sold within 7 hours. The question will be whether the Main Sale from 09.02. until 09.03. is similarly successful, which does not seem unrealistic in the current environment, but is far from certain. However, it will be much more exciting if Savedroid lives up to the great responsibility that results from such a large funding. After all, tens of thousands of token buyers then trust that the team from these millions of investments will build something great.
Savedroid roadmap - all on crypto (Source: Savedroid / ICO One-Pager)
After all, in the past, Savedroid has at least shown that they can build innovative tools - the little Spardruid has been running successfully for over a year, and I'm very curious about the ability to easily save in cryptocurrencies. It would be important and extremely helpful, however, if Savedroid would take care of the annoying tax issues for me. Because this is one of the largest construction sites for investors so far. In the long run, the tax office will not look the other way if some of them make big profits and do not properly tax them. An app that helps here would have a huge potential. Let's wait and see what else is coming.
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Written By: Md Ayub Emon
Bitcointalk Username: Em00n01
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1033334
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