Thanks You To The A&Q Community For Participating In Ask Me Anything ( AMA ) With DragonBite On May 18th, 2021. This Guest Star Elvan Yau ( COO ), Mickael Costache ( CEO ), & Andy Chen ( Strategic Advisor )

First segment : Introduce

  • Questions :

Can you introduce yourself @DB_Elvan To our community?

Elvan :

Sure. My name is Elvan Yau and I am the COO of DragonBite. I am a serial entrepreneur. I bought my 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. I have also involved in the loyalty industry for years. During the time I worked in AsiaTop as the director of Product, I realized there’s intrinsic problems of digital assets as the interest of the program providers are usually not the same to end user. I saw the problem and thought blockchain would be right the solution and came up with this DragonBite idea.

Second segment : Questions from AMA hosts

  • Questions 1 :

Could you explain a little about DragonBite and what Is make it different From another Project?

Elvan :

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 dollar 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.

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. DragonBite’s key competitive advantages lie in its comprehensive partner ecosystem as well as its characteristic of open looped and decentralized. We have already gained access to over 50,000 merchants point of sale with 1 million user based.

  • Questions 2 :

Could you please provide some info about your Roadmap and how DragonBite is progressing so far?

Elvan :

Since 2018, DragonBite has collaborated with leading companies in the field of blockchain, loyalty points and gaming. The DragonBite platform has been under development for 18 months and will be audited by top cybersecurity firm. By the end of 2021, The most popular loyalty programmes and game assets and other digital assets will be acquired and held in DragonBite ecosystem, which will benefit the token holders as we will sell these loyalty points and send the rewards back into the staking pool. Today, we are partnering with Banks & major financial services, cryptocurrency exchanges and different blockchain ecosystem. We are the reseller of Steam, Google Play and Apple Giftcard and has gained access to merchants point of sales.

  • Questions 3 :

What is the Usecase of $BITE? can you provide details?

Elvan :

Our secret recipe is our dual token system. This maybe 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) $BITEPoint 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.

https://twitter.com/DragonBiteDB/status/1384824258845622274/photo/1

  • Questions 4 :

What are the present and future goals of DragonBite?

Elvan :

The current goal is to commit our community with the roadmap, i.e. launch DragonBite app before the end of Q4 2021. We aim to disrupt and provide liquidity to loyalty industry. Allowing people to turn their loyalty points to other assets and other assets class. Future goal is to acquire as much loyalty program, gift cards, gaming assets into DragonBite assets pool.

  • Questions 5 :

How do you keep the ecosystem going in your project? and what are your plans for future innovations?

Elvan :

“Liquidity” is the gift we bring into the crypto world. Majority of the blockchain projects facilitate only speculation purpose. The use cases are limited in the blockchain industry. DragonBite provides real life use cases. With DragonBite, users could actually convert cryptocurrencies in to merchants cash vouchers / gift cards. Today, Bite Point could be spent in 50,000+ merchants point of sale and the number will grow exponentially, this existing merchants network makes us be ahead of our competitors and save us years of time in merchant acquisition.
We will continue explore and onboard different digital assets, for example NFT.

NFT is definitely an excited topic. As a digital asset marketplace, allow assets class to swap and convert. NFT, unique assets would also be supported on our platform in the future. We will partner with dApps / existing NFTs also would eventually provide values (sotheby's) to non-fungible assets, such as cinema and concert ticket, art works and tokenise them. Liquidity would be provided to these NFTs in DragonBite! In the future, I believe we will see more use cases for NFT and the application of NFT to identify identities that could be useful in certain scenarios.

Third segment : Questions From Twitter

  • Questions 1 :

From @Salwacantik1111

What is your strategy for attracting new investors? How to create mass adoption of the $BITE token?

Elvan :

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. Loyalty programs are literally everywhere. Today, there are more than 95% of the population owns loyalty points. This triggered us to investigate further and realized there are more value of digital assets (loyalty points, gift cards and gaming assets) than US dollars in circulation in the world. The existing mechanism is set to discourage you from using them. Therefore, The utilization rate of these assets is only 7%. You may already realise, there is an intrinsic problem in these digital assets,

1. they are difficult to be exchanged and the gifts are usually not attractive
2. they are hard to be consolidated and
3. they will be expired. DragonBite allows Idle loyalty points from different programs can be stored in 1 single application, can transferred and to be redeemed to whatever form of digital assets you wish You may turn your loyalty points to Bitcoin with upside instead of a kettle. We lower the barrier of entry for small size crypto investors.

  • Questions 2 :

From @Yingmintun

What are the benefits of having a Dragonbite standard card and a Dragonbite premium card, and what are the details of the advantages of each card?

Elvan :

DragonBite Premium cardholders will also receive 0.5% of their spending in BITE as a reward. Those rewards can be redeemed or converted into other currencies or digital assets. Shopping and travel insurance will be offered up to USD100,000.

DragonBite Standard cardholders will also receive 0.1% of their spending as a reward. Shopping and travel insurance will be offered up to USD100,000.

  • Questions 3 :

From @ASyahteguh

When launching a solid product but the whole market crashing at the same time. Is $BITE going to crash too? How do you prevent $BITE from collapsing too?

Elvan :

The DragonBite app will be launching before Q4 2021 .

I have encountered a lot of enquires about what is the benefit holding $BITE long-term.

I believe the success of DragonBite ecosystem and the value of $BITE aligns. It depends on 3 KPIs:
1) Number of merchants / partners

2) Size of digital asset pool

3) Number of users The more merchants / partners would provide larger liquidity and hence an increase size of digital asset in our pool. The more assets supported for conversion, the more users would be acquired. These 3 KPIs would create a virtuous circle and as a result more transactions happen in DragonBite. More $Bite would be needed for transaction fee and as the demand increases, value rise. I am very confident in DragonBite and I believe we will grow with the community and get mutual benefits, investors definitely would get benefit from holding $BITE in long term.

  • Questions 4 :

From @KathDM3

I read that $BITE is distributed to users as a reward for contributions made to the DragonBite Ecosystem. In what ways can we contribute to the ecosystem? How is the amount of $BITE that each user receives determined?

Elvan :

DeFi allows for a true shared economy where users can also become service providers.

A user can act as liquidity provider to deposit digital assets in loyalty points liquidity pool. A user can provide for example, asiamiles x $BITE pair or Hilton Honors x $BITE Pair

  • Questions 5 :

From @OutOfRa42490321

DragonBite simplifies storage and exchange of all types of digital assets in One App, can you tell us how a Mechanism to turn all assets into one, namely Loyalty points, E-vouchers, Coupons, Gift cards, in-game assets and Cryptocurrency?

Elvan :

6-in-1 solution includes Dual token machanism, pRe-paid card, Asset conversion, Governance, lOyalty Pool and aNalytics.

As mentioned, Dual Token, $Bite is for utility purposes within DragonBite ecosystem and Bite Point uses as the medium of exchange between assets.

Our pre-paid card 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

Multi-Asset conversion engine (MACE) is a protocol system that matches buy and sell digital assets through DragonBite App

For Governace, eventually DragonBite will be migrating and become a DAO. In order to submit a proposal and vote within the DragonBite ecosystem, a member must first hold BITE. Each staked BITE represents 1 vote.

A loyalty rewards platform allows the converting of reward points from one brand to another. Customers can select their favorite loyalty program from our list. After entering their credentials for the login process, the app would return available points or air mileages to their accounts (and the equivalent amount in BITE). Exchanges are secured by our blockchain technology. • Exchanges are visible within a few seconds • Everything is performed simply through the DragonBite app with a user-friendly and seamless experience

Our Online-to-Offline (O2O) execution platform is an advanced geo-targeting tool. Merchants who connect to our platform using API and design their own campaign to drive online traffic to their physical stores. End-users who are near the targeted location will receive real-time promotion notifications from our merchants based on the customers’ demographics, preferences and spending behaviour.

Fourth segment : Questions From member

  • Questions 1 :

From @zxcvbnmnbvcxza

How secure is DragonBite ?

Elvan :

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 doesnot handle the assets of our clients. All of their assets will be safely kept in custodian, Hex Trust, all the time.
The infrastructure of DragonBite Wallet adopts the state-of-the-art security features which protect all transactions inside the platform through several methodologies, that are biometric fingerprint, facial recognition, pattern-recognition and passcode access. Therefore, users, who cannot remember their passwords, can still log into their accounts by using their fingerprints or head portraits on mobile devices. Anyway, biometric detection technology should give a higher security protection than passcode access.

  • Questions 2 :

From Y

Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?

Elvan :

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.
Our goal is to build a legitimate and healthy ecosystem to grow with our community.
Our mechanism protects every stakeholder in the ecosystem as the teams’ token will be locked up for 30 months.
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.

  • Questions 3 :

From @thorkakku

Do you have any plans to attract non-crypto investors to your project Because it is the success of a project to get more investors who are still not in the crypto world. What are the plans to increase awareness around your in non-crypto space?

Elvan :

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. DragonBite’s key competitive advantages lie in its comprehensive partner ecosystem as well as its characteristic of open looped and decentralized. We have already gained access to over 50,000 merchants point of sale with 1 million user based.

  • Questions 4 :

From @Sumit_Love

Can you explain some of the main utilities as well as Real-World usecase of BITE Tokens? Why should any investor invest in BITE Tokens ?

Elvan :

The usage of BITE :
1) Transaction fee. When people convert asset to another digital asset, transcation fee will be charged with $BITE
2) Governance. We aim to become a DAO eventually. The more $BITE you have, the more voting right you have
3) Staking reward. We provide staking option for our users in the ecosystem for passive $BITE reward
BITE, which has limited supply, will be created during the token generation event, and it will also be publicly traded on Crypto Exchange. Merchants, who utilize our platform to provide loyalty program and promotion activities, will be charged in the form of BITE. BITE is also required to bid valuable assets in our auction platform, to access our privilege services, to exchange BITE Point, to purchase coupons or gift cards, and to pre-pay DragonBite card. On the other hand, any 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.

  • Questions 5 :

From @monosterwi43

How did you choose/end up with a name “Dragon”? What was your thoughts back then, so you decided with "DragonBite"? What real solutions are you bringing to DeFi in #Dragon project, and what exact problems do you want to solve in DeFi?

Elvan :

There is a myth long time ago about a magic dragon🐲......who has the ability to turn the object into gold🥇🥇 after just one bite. In our galaxy🌠, we have many planets which are named after different loyalty programs......our magic dragon, who see opportunities there, will give the loyalty planet a "bite" and turn it into "crypto". 💰💰

Learn About Dragonbite At The Link Below :

Official Website : http://bit.ly/dbiowebsite

Twitter : http://bit.ly/dbtwitterg

Medium : https://dragonbite.medium.com/

Reddit : http://bit.ly/dbreddit

Linkedin : http://bit.ly/dblinkeding

Telegram : http://bit.ly/dragonbitetgg

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