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Regular Community AMA with Momo Chang Successfully Wrapped Up

Dear DREP Community,

The regular community AMA with DREP co-founder Momo Chang successfully wrapped up on 23rd, August. We are so glad that many community members participated and put forward a lot of useful questions and suggestions. We extend our greatest gratitude to your long-term attention and support.

Before the Q&A session, Momo briefed DREP’s recent updates regarding on technology, 2019 POW’ER Global Developer Conference, Summoner plan and enhanced token distribution. During the Q&A, Momo elaborated details of some DREP events, answered community members’ questions about technology and future plans of DREP. Also we received some precious suggestions from the community.

Below are the highlights of the AMA.

Enjoy the read!

Q: Hi Momo, I joined your Summoner Wechat group, exactly what special rights can I get? I’m still a little confused about it.

Momo:

Like it’s said in the poster, in this group you could have intimate and regular conversations with Xiaolong and me. Some soon-to-be announced news will be posted in that group so that our Summoners can get to know DREP updates in advance.Also, we set up a seed user identity in future DREP Node Plan, as well as a genesis user identity in Alpha test of DREP SDK games for group members. Additional, more priorities will be provided, ex, birthday gifts! In all, you could enjoy a VIP treatment in that group.

Q: For the seed user identity and genesis user identity, could you tell me the precise date for claiming?

Momo:

We’ll launch our first DREP SDK game in 2019 Q3. DREP Super Node Plan is to be released after our Main Net launch. The DREP team has persevered, working diligently and efficiently, to launch the final DREP Testnet and Mainnet within the next few months.

Q: I heard DREP was listed in a Korea exchange without being informed. Could you please clarify the exact situation? Why they did it?

Momo:

Well, pls note that DREP team is not informed until the Korean exchange officially announced DREP’s listing on their website. After their announcement, we contacted their operation team and found that they list DREP/KRW directly, as DREP has a good reputation in Korea. Thus, so far, our official cooperative exchanges are Gate, Bitmax and Binance DEX. We are now negotiating with other top tier exchanges and will share with community once it’s confirmed.

Q: Ok, thanks for your explanation. One more question. Do you have plan to list DREP in Korea exchanges in the recent future?

Momo:

We are fighting tooth and nail to secure listings on Tier One Exchanges which we are in active and constant discussions with since 2018.

Q:Hi Momo, many thanks for the update and having now a truly REGULAR biweekly AMA. Dont wanna ask many questions this time. But in general, to which extend you expect the development you made so far would have an influence on the DREP market? I know it is very speculative but would be great to know you opinion on it. How would assure community that one day these developments would actually show it’s TRUE value?

Momo:

Much appreciated you’re always here and support us. For your question, honestly, I don’t think there would be a strict linear relationship between a project’s fundamentals and it’s token price. Mostly, the feedback of token performance is kinda hysteric, especially for some tech-oriented projects. That’s why even some early crypto players still miss so-called centuple coins. I won’t promise you a huge pump of DREP in the near future, but I believe our efforts will pay off. Time will tell and your trust will be worthy.

Q: I heard DREP will launch the mobile wallet in Q3. Will it be special, I mean, different from other wallets? Like some special functions.

Momo:

DREP wallet is compatible with various kinds of cryptocurrencies such as BTC, ETH, DREP, BNB and it supports functions like send, receive and scan . In addition, it connects multiple public chains, initially achieving cross-chain transaction functions.

Q: Few days ago, bakkt announced that it is cleared to launch. The price of btc increased temporarily but fell back again today. Seems not too much impact on crypto market. What’s your opinion about it?

Momo:

Btc has gained $1,000 since this Bakkt announced it has the green light to offer bitcoin futures. But we can see the key resistance still lies ahead. Just as Xiaolong said in twitter, though Bakkt can’t guarantee the coming of next bull market, it provides a solid premise for traditional investment institutions’ entry in crypto market. Thus, in my opinion, it will lead to boom directly or indirectly.

Q: Momo, I have a suggestion, pls hold more events. The sommoner plan is only available for several people. Most of us can’t participate it.

Momo:

Thanks for your suggestion. DREP team will plan to hold more kinds of events so that every community member can participate. We are committed to making every DREPer enjoy the benefits.

Q: Could you tell me the reason why you changed the token distribution schedule?

Momo:

The majority of the locked tokens will be distributed ahead of schedule as we have decided to balance the welfare of our contributors while fulfilling the requirements of Tier One Exchanges. The DREP team has persevered, working diligently and efficiently, and will launch the final DREP Testnet and Mainnet within the next few months. We are fighting tooth and nail to secure listings on Tier One Exchanges over the next few months to complement our technology development progress and reward our loyal community.

Based on our continuous communication with Tier One Exchanges, we realised that one of their key concerns is DREP’s current bi-monthly token distribution schedule for early contributors. The token distribution schedule has been deemed as too frequent and hampered our ability to cultivate a bullish secondary market sentiment. Furthermore, we are also advised by a Tier One Exchange to distribute a large supply of DREP tokens only by Oct 2019. Doing so otherwise will lead to an adverse reaction from their Listing Committee.

After much negotiations, we managed to nail down an outcome which will be conducive for future potential listings and also protect the interests of our early contributors as much as we can by distributing all remaining locked tokens on 10 Oct 2019.

Thank you all for the active participation and the questions and suggestions you raised. We really appreciate your consistent support and attention all the way.

Stay tuned for more good news to come!

About DREP Foundation

DREP is committed to building “connectors” and “toolkits” based on blockchain technology, providing solutions that combine ease of use, flexibility and frictionless integration. Based on DREP Chain, DREP ID and DREP SDK, DApp R&D teams are able to release multi-public-chain asset versions, built-in wallets and asset trading platforms with one-click.

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DREP Foundation

DREP Foundation

DREP 2.0 is the decentralized credit-data middleware based on layer-2 facilities, to be the backbone of DeFi Credit Era.