On July 12th 2021, our community had a chance to welcome Dragonbite– a truly decentralised Asset Management platform for all digital assets in One App and one password!
This AMA was held by CryptoFamily Group – the top crypto community in Vietnam, where investors and traders can obtain the lastest news and signals from bot/ admins, as well as discuss and share investment experiences in the crypto space.
At this AMA, the Dragonbite directly greeted the community and provided detailed information as well as some key products and future plans.
Time: 09:00 PM (UTC + 7) on Monday, July 12th, 2021
Airdrop 200 USDT for the best questions in the AMA.
Below are some main points of this AMA:
Question for Part 1- Project overview
Question 1: Could you please make a brief overview of your team’s background and Bragonbite?
Dragonbite: DragonBite is founded by a talented team of blockchain enthusiasts. The team has accumulated over 50 years of experience in digital marketing, technology, loyalty, payments, banking, consulting and fintech. The DragonBite team is based in China, Hong Kong, Singapore, the United Kingdom and the United States
I am the Chief Raptor of DragonBite, it is my duty to coordinate with people, no matter within DragonBite or outside to make sure the operation goes smoothly without any problem.
Elvan Yau is the COO of DragonBite. As a serial entrepreneur. he bought his first bitcoin back in 2015 and found the first Blockchain startup in 2017, it was a payment infrastructure allowing people to buy Bitcoin and Ether with Visa and Mastercard. He has also been involved in the loyalty industry for years. During the time he worked in AsiaTop as the director of Product, he realized there’s intrinsic problems of digital assets as the interest of the program providers are usually not the same to the end user.
Andy has 20 years of experience in loyalty and payment (e.g. Mastercard, Airline and hotel loyalty) and now he is the strategic advisor for Dragonbite.
Mickael Costache is the CEO of DragonBite. He was the Regional Director for the Middle East, Asia and Africa at Espeo Blockchain, one of the leading blockchain development and consultancy studios in the world. Mickael is also an ICO advisor, working mainly with companies based in Asia.
He is Based in New York but spending a lot of time on the ground in blockchain hubs such as Singapore or Hong Kong, Mickael successfully assists companies and entrepreneurs to turn their ideas into working decentralized solutions, ranging from ICO development to conceiving complex blockchain solutions for large enterprises, as well as blockchain advisory.
DragonBite is the solution to a massive and global problem: there is more value in loyalty points, rewards and coupons in circulation in the world than US dollars, yet the majority of these digital assets are idle. The lack of a unified platform for users to redeem and spend their loyalty points means that every year hundreds of billions of dollars worth of assets become stale.
This is where we come in DragonBite is a universal digital asset management platform powered by Blockchain technology. We leverage cryptocurrencies and DeFi to help loyalty points holders consolidate their earnings, interact with a global ecosystem of merchants and unlock the value of their digital assets.
Question 2: Next, please tell me the reason why we should choose your platform instead of other projects out there.
Dragonbite: DragonBite is the only decentralized loyalty program that is governed by its members and caters to crypto and loyalty points. With 1 Million members and 5,000 branded merchants since 2018. Growing 3x faster than the Points com
We analyze our competitors in 2 dimensions: Whether it is decentralised or centralised; whether it is open-loop or closed loop.
Bakkt is one of our competitors. It acquired bridge2solution to cater for Loyalty + Crypto. The new loyalty+ crypto app has not yet launched. Supported by only a few banks and less than 50 merchants. It is open loop, however it is centralised.
Points com is another competitor. It is a closed loop loyalty program which is not growing, focusing on airline, bank and hotels and obviously it is centralised.
Asia Miles and Hotel are other competitors. They are also Point issuers, closed loop loyalty programs for their own members Airline and Hotel focus respectively
Question 3: Could you please share with us your roadmap in the near future?
Dragonbite: We have been working hard to acquire blockchain / loyalty partners. After TGE, we focus on 2 major items:
1) Our commitment to the society, we will provide utility to our token by launching our dApp before the end of the year. We have decided to deliver sooner by launching our app web in Q3, which was not mentioned on our pitch deck / white paper.
2) Use-cases. We have been and will be actively seek partnerships, either from blockchain, loyalty, gaming and financial industries to provide liquidity and real life use cases.
Questions for Part 2 – Pre-collected questions from Twitter:
Question 1: As a truly open decentralised Asset management platform, what are your goals and motivations to increase personal privacy, security, and the decentralization and sharing of power for the vast majority of users? @PaxtonLili
Dragonbite: We implement our technologies based on the banking practices to boost our security level. Our tokens are protected by mix of hot, warm and cold technologies in order to maximize our security protection.
DragonBite does not handle the assets of our clients. All of their assets will be safely kept in custodian, Hex Trust, all the time.
When our user chooses the privacy mode, all their transaction will go through alternate address instead their own master address. We also have other operation management and technology checkpoint / design targeted to improve the privacy and security protection of our platform.
We are compliant with compliance regulatory rules such as the General Data Protection Regulation (GDPR) & the Personal Data Privacy Ordinance (PDPO), the Anti-Money-Laundering (AML) standard and the Know-Your-Client (KYC) standard.
What are some ways of scalling and developing your project during this bearish market time? What are DragonBite technological advantages to face with its competitor? Is there a feature you would like to add in the future that has not been revealed yet? @Corrie_Dorf
Dragonbite: In the bear market, almost 95% of tokens are shrinking. We have come out with a plan of remedy. It has divided into 2 parts:
Utility and Marketing Campaigns.
Utility: Our tech team is working very hard to build a web app and aiming to launch in 4 weeks.
Our dApp will be launching by the end of 2021. By then, BITE will have a real use case and utility. The demand would increase proportional to the increase in community actions.
Marketing Campaign: We are pushing out multiple campaigns to attract more holders, with the Ferrari Campaign, we are hoping to attract 3000 holders and a 600,000 $BITE giveaway with BitMart to bring awareness to their 9million user base.
We will also launch our very unique and innovative NFT. Whatsmore, we will be offering a DragonBite Card, where you can spend your cryptocurrencies in merchants in your area. Also, we will be actively launching marketing campaigns to reach out to more prospective users to understand our project and to buy and stake in our DeFi partners for rewards.
Question 3: 3. The utility of the token is one of the factors that evaluate the credibility and potential of the project. So what are the utilities and roles of $BITE in the ecosystem? How can users earn more $BITE? And are the profits attractive? @Bigcityboy90
Dragonbite: Our secret recipe is our dual token system. This may be the reason why other loyalty projects failed before us
a) $BITE, is our incentive token, which has limited supply. It will be publicly traded on Crypto Exchange. Merchants and partners, who utilize our platform to provide loyalty program and promotion activities, will be charged in the form of $BITE. $BITE is also required as transaction to bid valuable assets in our auction platform, to access our privilege services, to exchange $BITEPoint, to purchase coupons or gift cards, and to pre-pay DragonBite card..
On the other hand, user or partner, who participates in trading activity and make contribution in our ecosystem, will be rewarded with $BITE. $BITE holders will earn more $BITE from staking, too. We provide sufficient incentive to our active users to do asset conversion, member referral and business referral. The more $BITE you hold, the more $BITE you will get and the greater voting power you will have in the DragonBite ecosystem.
b) $BITE Point is DragonBite’s universal stablecoin, pegged 1:1 with the US Dollar back by all the digital asset in the ecosystem
BITE Point acts as a medium of exchange between Digital Assets and provides liquidity to buyers and sellers of their digital assets on DragonBite’s ecosystem
Here is a quick overview
Question 4: 4. How do you plan to expand your market in different countries where English is not well-spoken? And what are your expected applications of Dragonbite business models and technology? @BinaPony
Dragonbite: I believe a strong product & solution would attract community members & supporters as they feel the same pain and will be support the solution which benefit themselves.
Alongside with the legitimate and long term solution for mutual benefits with the community. We will focus on marketing in order to let more people know about us and join our community. Gaming industry is one of the sector our marketing efforts will focus in as there are synergies between gaming and the crypto world.
We are partnering with different Ambassador / crypto KOL from different community / youtube channels / media all over the world. As they feel the pain and the problem of loyalty points. Our team are confident and our supporters believe in us. We all know the problem and we are ready to tackle it.
Question 5: 5. Is Dragon Bite a community-based project? How can the community contribute to the progress of Dragon Bite? Do you have a Governance model? Is there and ambassadors or bug bounty/ contest we can assist in to enable further adoption? @Aravind75154890
Dragonbite: DragonBite is a community-based project. We treasure every single member in our community, the feedbacks are very important and we are open to comments and make improvements. The character of blockchain is decentralised, as strong believers of blockchain, we hold tight the values and embrace the trend happening in the world.
Eventually, DragonBite would become a DAO. The more $BITE you have, the voting power you have to make major change to the ecosystem! Everyone would become the stakeholder of DragonBite and you too!
We also have ambassadors program. Join us and build the community together!
PART 3: BEST LIVE QUESTIONS CRYPTOFAMILY GROUP
Question 1:Staking programme is very important for any project, Can i stake your token? Do you have any plan of starting staking programme?
Dragonbite:We currently have MANTRA DAO and PolkaBridge opened for single token Staking, BitMart Staking and MANTRA DAO LP staking will be opened soon so people can start earning more token every single day
Question 2:Everyone cares about the real life application of the project, What are the most prominent application of BITE ?
Dragonbite:Our token will be backed by real life utility. As mentioned, Dual Token, $Bite is for utility purposes within DragonBite ecosystem and Bite Point uses as the medium of exchange between assets
We will provide a 6-in-1 solution which includes Dual token mechanism, pRe-paid card, Asset conversion, Governance, lOyalty Pool and aNalytics.
Question 3:Your project looks good but it confuses me that there are many other Blockchain projects. What should I notice about you to give it the importance it deserves? What do you plan to achieve with your project?
Dragonbite:As the vision of DragonBite is to disrupt the loyalty industry using blockchain and DeFi. We aim to remove the intrinsic inefficiencies of loyal points by allowing loyalty points turn into cryptocurrency. The whole idea is to facilitate loyalty points’ owner. 95% of the population owns loyalty point but the adaption rate of cryptocurrency is only 5%. DragonBite provides an easy and straight forward way for non-crypto users embrace the crypto space. We will attract both crypto user and non-crypto user, that’s the difference between DragonBite and other projects
Question 4:Hello @DB_Alan I have a question Can you list some of the features with which you are most confident about your platform? How can you advertise your project worldwide and make it popular?
Dragonbite:Our features include the pre-paid card which allows users to spend at more than 30 million merchants and withdraw money from 2 million ATMs worldwide. To order a DragonBite Card (physical or virtual), users can request directly through the DragonBite App or website. All issued DragonBite Cards will be connected to our multi-currency conversion engine and DragonBite App. Clients will have the choice to order a virtual card and/or a physical card.
DragonBite is also a digital wallet for all customers to store their digital assets, including Loyalty points, E-vouchers, E-coupons, Gift cards, Air mileages, In-game assets and Cryptocurrencies. DragonBite can preserve the value of your loyalty continuously and aggregate all your scattered assets into one wallet with one password.
Question 5:What is the most ambitious goal of your project? What is the ultimate vision that Your project is trying to achieve within the cryptocurrencies market? I would appreciate it if you could share with us any Upcoming Updates?
Dragonbite:DragonBite’s founders have over 20 year’s experience in payment, digital banking and investment banking. We have good reputations and good track records in our industries.
Since its inception in 2018, DragonBite has collaborated with leading companies in the field of blockchain, loyalty points and gaming. Today, Bite Point can be spent in 50,000 merchants point of sale.
We are also partnering with Banks & major financial services, cryptocurrency exchanges and different blockchain ecosystem. We are the reseller of Steam, Google Play and Apple Giftcard.
A big campign that we have is the Ferrari giveaway, for just a small number staked, you can enter and have the chance to become the owner of a Ferrari
There will be bonus entry for those who provide Liquidity and stake their LP token in MANTRA DAO. The more you provided, the higher chance you have !
For all of the questions that have not been answered yet, guys feel free to search for more information or ask directly to them on the links provided below:
– Website: https://dragonbite.io/
– Twitter: https://twitter.com/DragonBiteDB
– Telegram: https://t.me/DragonBite
– Telegram ANN: https://t.me/DragonBiteD8
– Telegram Vietnam: https://t.me/dragonbiteVNM