Q&A With Alexander Kokhanovskyy
Recently, there’s been much focus on DREAM and the updates to the DreamTeam platform. Alexander Kokhavoskyy, DreamTeam CEO and Co-Founder dropped by the telegram group for a live Q&A. If you would like to read the questions and answers, keep reading below.
What is the plan to drive the token’s price? As long as FIAT can be used instead of the token, there is no reason for anyone to opt for the token. How about providing some incentives such as discounts when the token is used to make in-app purchased?
As we already mentioned in our Tokenomics paper, DreamTeam platform accepts payments in both DREAM Tokens and fiat currencies. But fiat purchases will always be converted to DREAM Tokens behind the scenes to achieve a smoother user experience by avoiding the need for users to go and buy tokens on third-party exchanges directly.
What is the benefit for longterm token holders? Perhaps token holders can receive some portion of in-app purchases as dividends, calculated and distributed via blockchain?
For now, there are no extra bonuses for longterm token holders exist. However, next year, some benefits may appear. Stay tuned!
Is there any token inflation plan, or do we stick with the current cap of (I think) 21 million tokens?
I don’t understand the cap amount of 21M tokens. The circulating supply is 36M DREAM.
When will Dota 2 be added, and what is holding it back so far?
As we already said in our Dev Reports, we are going to add more and more games to the platform, so follow our social media channels for new updates. It will happen in 2020.
What will you do with the DREAM token received through in-app purchases?
DreamTeam will break down each token received in the following way:
15% of the tokens are locked for 5 years in DreamTeam reserves for future Partnership Development.
85% of the tokens are sold back on exchanges.
As token development seems relatively slow, have you considered using Gitcoin bounties to speed things up?
New updates in Token development are coming. Be sure to follow our news so as not to miss anything.
What will you do if the difference between the token price on the exchange and the fixed rate on the platform reaches 20% (i.e., it is five times cheaper on the exchange)? Will you divide the price by two?
No, we are not going to do this. As we’ve already said in our Tokenomics paper: If the price on an exchange is lower than the DreamTeam platform fixed exchange rate, DreamTeam will spend less money than received from the user. If the price on an exchange is higher than the DreamTeam platform fixed exchange rate, DreamTeam will spend more money than received from the user.
Each time the price on a third party exchange becomes 500% higher than the fixed DreamTeam platform rate, DreamTeam will double the Token price on the platform: 1DREAM = $2.
What’s the point of having a fixed price? Are you going to make money out of it? If not, why not just provide platform users with an exchange price + fee?
All users get used to fixed and stable prices for items and services inside games, platforms, etc. To support this trend, DreamTeam introduces the fixed exchange rate inside the platform for all products and services in the amount of 1DREAM = $1.
How will the selling and buying of the token from the platform to exchange work? Will it be automated or manual?
This will be automated.
How exactly is the exchange price calculated? If e.g., a user buys 1000 DREAM on the platform, there is bound to be some price slippage on exchanges. When will the 1 DREAM = $1?
If the user needs to buy 1000 DREAM on the platform, the fixed exchange rate 1DREAM = $1 applies. DreamTeam receives money from user and buys the need quantity of Tokens for the user on exchange for the current exchange price. If the price on an exchange is lower than the DreamTeam platform fixed exchange rate, DreamTeam will spend less money than received from the user. If the price on exchange is higher than the DreamTeam platform fixed exchange rate, DreamTeam will spend more money than received from the user. If the price on exchange is higher than the DreamTeam platform fixed exchange rate, DreamTeam will spend more money than received from the user. The Token economy is planned for launch in January 2020.
What is the maximum amount of $ a user may deposit in fiat? Or is this limit set in DREAM? Is there a swap opportunity at a fixed rate? (DREAM2USD)?
The user can buy any amount of Tokens he needs to pay for DreamTeam services. As users buy DreamTeam Tokens at a fixed exchange rate, DreamTeam will buy the equivalent of Tokens, which the user needs for the current price on an exchange. No, swap or withdrawal won’t be available.
Do users have any lock-up period for the tokens in terms of withdrawal?
It’s not possible to withdraw Tokens from the DreamTeam platform.
Is the price of a feature/subscription package on the platform shown in both fiat and DREAM or only in the latter?
The price will be shown in DREAMZ (1000 DREAMZ = 1 DREAM).
Сan you start with some recent stats? Number of active users, usage of different features, etc?
We’ve reached around 1.9M users. As we are launching a new model for casual games, features will also change, Stats, Recruitment, Challenges, Unified Profile, Clans, and Content Feed (both coming in late Q1 2020). Those are the core features users are willing to use.
Users cannot withdraw the tokens they bought, right? Tokens that were transferred from third-party wallets or won are transferable, right? At least on the platform from one account to the other? If the fix rate changes, the price of the features changes as well, right? So if a feature costs 1000 DREAMZ and the fixed-rate turns to be $2, the price of the feature drops to 500 DREAMZ, right?
No limits at the moment. Vise-Versa, you can only BUY DREAM by using a fixed rate. Users can’t withdraw DREAM from the platform. They can only purchase goods and services in our Shop. The price changes only if the price of the platform vs. an exchange increases by 500%. E.g., an exchange price is higher than $5, than the fixed price increases for 200%, meaning $1 = 1 DREAM. But the service price remains the same. Premium Accounts still will be worth $5.
How do we ensure that the Tokenomics strategy is implemented, as stated in the document? Is there a third-party audit company or direct transactions list to be provided to the user that shows what happens after a purchase?
We are searching for a transparent solution for all parties but limited to keeping our commercial metrics confidential.
How does the interaction between platform and exchange work? Is it automatized or manual? Which exchange(s) will be used?
I mean, the buy/sell of DREAM from platform to exchange when a user makes a fiat purchase on the platform. So how will the price be calculated then for the 500% ratio? The price is not the same across different exchanges, and for larger purchases, there will be slippage?
All exchanges, interactions will be fully automatic. It will be according to a certain amount of metrics met. Right now, 30 days of trading with the average daily price $5 or higher.
Is there a top-tier exchange listing planned? Any decentralized exchange?
After we released the new Tokenomics paper, we are expecting higher Token turnover. We will also start buying tokens as well. Listing on Tier1 exchanges is #1 priority beginning in Jan 2020. We are going to re-connect with seven exchanges: Binance (directly on the main exchanges through voting, not dex), Bitfinex, Upbit, Bittrex, Poloniex, OKex, Huobi.
Daily price $5? Not sure I get that. The current price is below 10 cents; it will be a while to get it above $1. Did you mean daily volume?
I didn’t quite catch you then. My main point was to describe HOW we are calculating a 500% price increase. Right now, the fixed rate is $1. 500% increase, meaning $5.
How exactly will the new token features be rolled out on the platform? If something is currently $10, does it mean after release, someone will be able to use 10 DREAM to buy that?
Nope, all purchases in fiat. On the backend, we are going to buy tokens from an exchange and credit them to users.
So users can’t use DREAM directly?
No, they can’t. In the case that they can, there is a 0% chance the App Store and Google Play apps will accept them.
I thought 500% is the target ratio between platform price and exchange price. So when the exchange price gets above 20 cents, the DREAM price on the platform doubles.From $1 to $2. That’s how it was explained in the Tokenomics. My question was, how exactly is the current exchange price determined? You said there would be some metrics? Usually, there is a third party price oracle used for these calculations.
Understandable. So if DREAM is $4 on an exchange, and a user on the platform makes a $10 purchase, DreamTeam platform will spend 40USD to buy 10 DREAM Tokens? Aren’t you then at great risk of losing money?
It should get above $5, so only then it will be doubled. Yeah, I’ve read it, you were right! We need to re-phrase it a little bit. Right now, 30 days of trading with the average daily price of $5 or higher, meaning the “500%” rule kicks in. Not really. At the end of the day (or immediately), users will give us their 10 Tokens for services or goods. So we spend $10 to buy tokens worth $40. Finally, we are -$30 ($10–$40=-$30) and have the 10 DREAM. Selling 8.5 (85%) DREAM for $34, locking 1.5 (15%) DREAM. So we are -$30+$34=$4 NET Profit.
Are the tokens that were transferred from us (token holders) still transferable from the platform to a 3rd party wallet o exchange?
I bought tokens on liquid, sent them to my DreamTeam wallet, are they locked now from the further transfer?
If we are buying on an exchange — yes, of course, at the end of the day, we will show all transactions on the blockchain, as everybody needs to see that. BUT users’ balances on the platform can only be spent within the platform.
The way I get it, you cannot send DREAM to the platform. Correct me if I am wrong…
Exactly, you can’t.
So, the only option to use our tokens is to sell it (probably to you). So DREAM turns to be a security I assume.
You can use them for Smart contracts in the future plus you will be able to buy Premium Accounts directly with DREAM (but only on the website, not in Apps).
How much DREAM does DreamTeam currently own? How will you use that? I think you said for challenges and similar things on the platform? Any other uses?
We own 10% — that’s our Reserve. We are not planning to use it in any way at the moment.
Are you planning a big marketing campaign for the platform promo?
In Q1 2020, we are raising a new investment round, and, of course, we will scale considerably in 2020.
Are you going to add World of Tanks and World of Warcraft to the platform?
WoT will be 100% in 2020, in terms of WoW, I’m not sure.
From which fund will DREAM be paid for rewards? In the Tokenomics, you say that you consistently update your Github, but the last update on smart contracts was 10 months ago. Do you work on smart contracts?
I think that from the reserve, there won’t be much, and people will not be able to withdraw them from the platform :) They will be able to receive goods or services for them. Therefore, this will not affect the price.
Now we are working on the development of the Smart Contract for the reserve, where 15% of Tokens will be locked for 5 years. And the last update on Github was in autumn connected with delegated transactions.
Can user buy DREAM on the platform for future usage?
We have liquidity on exchanges, so users can do it immediately or with a delay. Users can buy tokens and hold them, which is visualized on the diagram in Tokenomics.
Is there some kind of 3rd-party company that verifies the compliance of Tokenomics with reality? How are you going to prove the security of the process of going on exchange to buy DREAM for the users and not keeping money inside the company? Will the user be provided with a link to buy/sell on the exchange, transactions in the reserve, etc.?
This 3rd party will be a blockchain transaction in a user’s account. They will see that they received tokens or they sent them. In terms of buying Tokens, we are thinking about how to do it transparently for you, on the other hand, so that our commercial information is not available to the entire market. No, you cannot see the transaction on the exchange. But when tokens are sent to users, and they send it back to the platform — then yes, it will be visible.
Let’s say I give $10 to exchange it for 10DREAM, and then a week later, I get Prime for 5DREAM, right? And 5 DREAM remained in my balance.
When you deposit, will the exchange happen automatically, or I will have to change it on the internal exchange myself?
The process is automated.
Who are your competitors?
If speaking about team management and recruitment, then we have 8–10 competitors: Seek-team.com, Teamfind.com, Esport-Management.com, Readyup.com, Guilded.gg, PvP.com, etc. But we are bigger than all of them combined.
The main traffic is from YouTube, are you going to increase the channel’s promo or use other promo channels?
The primary traffic we get is from SEO and Direct. YouTube only gives about 10%. We also launch PPC campaigns.
Isn’t blockchain the synonym for transparency? Why did you decide to work with it? As now you are saying that you are going to hide the turnover?
We have other investors (Mangrove), and we are going to have the new ones in Q1. We have strict rules about what can be made public and what cannot. We need to think about all the parties involved.
Do you have a strategic development plan for 5 years?
There is no logic to have it. Our vision and mission remain unchanged. To have a development plan for 5 years is the same as to have a roadmap for 5 years.
About DreamTeam:
DreamTeam — infrastructure platform and payment gateway for esports and gaming.
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If you have any questions, feel free to contact our support team any time at token@dreamteam.gg. Or you can always get in touch with us via our official Telegram chat.
