5.1. Nexspecto Genesis: Savings Groups

Web3-based savings products will be at the heart of the Nexspecto platform, combining Web2 capabilities and product and service experience with the potential of Web3 applications and the opportunities it offers for developers and individuals.

The first Web3 based savings product to be offered by Nexspecto will be savings groups operating with a ROSCA-like (Rotating Savings and Credit Association) revenue model for group participants.

Rotating saving model, ROSCA, is a concept that is quite common around the world and generally used to express the savings model in which people who know each other and informally come together for savings purposes, often without the need for a platform.

In the ROSCA savings model, each participant in the savings group provides funds to the group in a predetermined amount and for specified periods (usually 1 month), and the funds provided by all participants are withdrawn collectively by one group participant in each period. The group continues until each group of participants is funded separately.

The first and most important application of Nexpecto, savings groups, basically work on the traditional ROSCA-based rotating savings logic. But with the following features, Nexspecto's savings product revolutionizes the rotating savings model with the power of Web3.

• Nexspecto's smart contract-based savings product is available to everyone. Nexspecto offers an open platform.

• Participants do not need to know each other as in traditional ROSCA models. People from different geographies of the world can gather in the same savings groups.

• With the secure transaction experience offered by Blockchain, users do not need to trust the platform or each other.

• All transactions can be followed by users with the transparency offered by the blockchain.

• Transactions are fast and cost-effective.

• Users maintain 100% ownership of their assets while interacting with the Nexspecto platform.

• Participants have the opportunity to use their capital more efficiently through Nexspecto and other Web3 applications through Nexspecto products.

• Web3 assets are liquid assets across platforms.

• Derivatives based on a specific product or fully standalone products will be launched on the platform to increase capital efficiency for users.

• In addition to the savings products and benefits, the participants can benefit from the many different incentives offered by the Nexspecto platform.

The Nexsecto platform, which has an expert and experienced team in Web2 savings applications, will combine the power of Web3 with the power of Web2's institutionalized applications and experience, and will offer many advantages in addition to and not limited to the above.