Piggy Bit

PiggyBit is the gateway for the Indian audience to initiate their crypto portfolios, inspired by micro-savings functionality. PB has a very minimal aesthetic, providing ease of use with a super straight forward user journey, that allows users to create smart contracts that are called "Jars". These Jars can have customized parameters, based on the requirements and convenience of the user, where the user, for example: could create a Jar by the title, "Saving for Diwali's gift", with a target to meet, eg: 50 USD, the amount that the user would like to pay recursively, eg: Rupees 200, over a recurring cadence that could be: daily, weekly, monthly. Jars have been programmed to handle the deposited amounts until they're filled, i.e. target met, or if the user decides that they want to break the Jar, just like a Piggy Bank, where they simply pay through the easiest payment method, UPI and the jars hold their crypto of interest. The inputs and the outcomes are totally manipulated by the user, based on whatever their liking or intended use case for Piggy Bit is.

Piggy Bit was initiated as an idea that would let the average Indian get into the crypto space, relying on the most used and widely accepted UPI architecture, as cash becomes more obsolete and even UPI remains centralized, meaning there are server maintenance outtages, transaction limits, possibilities of account freezing, while just being secured by a UPI pin. But Piggy Bit leverages the availability and acceptance of UPI to allow users to come on board, start minting their own Jars and fill them up. Once a Jar is broken, the funds get automatically transferred to the user's wallet.

Piggy Bit made in ETHGlobal Delhi, has implemented 3 main partners: -Rootstock -PayPal -Pyth Network

For the proof of concept, PiggyBit allows users to create Jars on the RSK Network, using their token tRBTC, also allowing creation of Jars on Sepolia using PYUSD. These tokens are used to mint a Jar (deploy a smart contract), that is completely customized by them, and displays all the functionalities.

Pyth Network's Hermes model is used to get live price feeds, which is internally used in some of the Jar conversion and estimation logics, that can actually be seen by the user in order to make it easier to decide on the cadence to exactly meet their expected time and costs.

There is also recurring payment notifications integrated into Piggy Bit, that prompts the user to make their deposits on their specified times to keep up with their deadlines, in case missed, the notification bar displays any missed out deposits for maximum convenience.

The time simulator can be used to easily mimic these conditions.

Piggy Bit uses Rootstock to hold smart contracts built in Solidity, enforced by Hardhat, to store and keep Jars using their native token tRBTC. Similarly Piggy Bit uses the ETH Sepolia Network to hold smart contracts, built in the same way to store and keep Jars, where Sepolia is used for minting a Jar, and the payments are done in PYUSD. Piggy Bit has a beautifully curated, minimal frontend created in TypeScript, Vite and React. It allows the user to connect to their Metamask wallets by using Wagmi and viem for handling wallet connection. Piggy Bit also leverages the Hermes model, provided by the Pyth Network to fetch live and latest price feeds for the most popular chains and tokens, always visible to the user, in the same minimal manner, so it is super easy to comprehend.

Piggy Bit is a live app that is deployed on the web via Vercel and can be checked out on the provided link.