On July 9, 2021, to help BitMart users know more about DragonBite, a Dapp to bridge loyalty programs and cryptocurrencies, we invited Mickael Costache, CEO of DragonBite, to join our Telegram AMA and share valuable insights with our community members. If you didn’t make it to the AMA live event, please check our AMA recap below for more details:   [AMA] BitMart Admin: Q1. Could each of you start by introducing himself and provide our community with some background about you, how you formed the team and the DragonBite project?   Mickael: My name is Mickael and I’m the CEO of DragonBite. I’m based in New York and was previously the regional director for a large European blockchain consultancy and development company. Our team of blockchain enthusiasts is very international and works between London, Singapore, Hong Kong and New York. I’ve met our core team members over the last few years through past projects, conferences and business trips and we decided to get together to solve the massive problems existing in the loyalty sector as we felt we had the right skills and experience to make a real change in the industry.  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. In a nutshell, we created a truly open decentralized asset management platform for customers to store and swap all kinds of digital assets in one App withoOne password! Our vision is to disrupt the loyalty market with innovative business models and technology.   BitMart Admin: Q2. Many projects aim to make cryptocurrencies more accessible to the public. Is it DragonBite’s core mission and if so, what’s your strategy to become mainstream?   Mickael: We definitely believe in the notion of making cryptocurrencies more accessible to the public. A lot of people trying to get into crypto are intimidated by the complexity of existing exchanges and our idea is to remove those barriers to entry and enable our users to make “bite-size” crypto investments. Think about it: would you rather let your hard-earned loyalty points expire or turn them into Bitcoin? The choice is simple...Thanks to our system of crypto vouchers, our users are able to quickly and seamlessly turn their digital assets into crypto through our partnerships with crypto exchanges. Our marketing will be geared towards both crypto and non crypto users and as I mentioned, we want to drastically lower barriers to entry into the industry for new crypto investors.   BitMart Admin: Q3. Who are DragonDragonBite main competitors and how does this project set apart from them?    Mickael: What we are building is truly unique and thanks to our partnership with AsiaTop making us available in more than 50,000 points of sale from the very beginning, we feel we are years ahead of any sort of competition. When looking at the competitive landscape, we are mainly seeing siloed ecosystems such as your airline or hotel loyalty scheme. Our goal is to unify all systems into one - that’s where the real power of DragonBite resides. Our key competitive advantages lie in our comprehensive partner ecosystem as well as our inclusive economic model and reliance on a distributed community of stakeholders. We created this handy summary in our pitch deck - available on our website.    BitMart Admin: Q4. Last month DragonBite did its IDO and earlier this week, its native token $BITE was officially listed on BitMart. Why did DragonBite choose BitMart instead of another exchange and what else will DragonBite be offering to our community?   Mickael: While doing our research and due diligence on exchanges to work with, we quickly realized that Bitmart would be an excellent partner for us. From the size of the business to the professionalism of the team and the willingness to work with us on exciting marketing campaigns, it was a perfect fit on all fronts. Our first CEX listing was a huge milestone for our company and we are glad to report that everything went extremely smoothly and we are very excited about our ongoing collaboration with Bitmart.  We also have some very exciting perks for the Bitmart community with a total of 600,000 $Bite to be distributed to BitMart traders over the month of July. You can win a distribution of $BITE on BitMart by participating in one of several contests. All the details can be accessed here.   BitMart Admin: Q5. The DragonBite Dapp will be ready in Q4 2021 and will be a place where users could exchange their reward points into crypto currencies. Can you take us through the process?   Mickael: One of the key points of DragonBite’s  6-in-1 Solution (you can read more about this in our whitepaper accessible here. The Multi-Asset conversion engine (MACE) is a protocol system that matches buying and selling digital assets through the DragonBite App. It utilises our digital asset pool and platform to rapidly convert any supported digital asset into the other digital asset at prevailing market value. So digital assets  such as loyalty points, e-vouchers and in-game assets will be spendable in any place in the world. The MACE will be linked to no less than five top loyalty programmes and crypto exchanges when we launch.   BitMart Admin: Q6. You’ve had a very successful private round. How do you convince investors to hold your tokens for the long term?    Mickael: We are extremely thankful for the trust our investors put in us. Our private round was oversubscribed in just 48h with more than USD3M raised. Our investors are very sophisticated and we made sure to explain our goals and vision in detail to ensure they stay with us for the long term. The beauty of our platform is that the more users and merchants we have interacting with the DragonBite Dapp and the more our token price will increase. Our tokenomics are rock solid and if our marketing plan brings the results we are expecting, there is absolutely no reason not to hold for the long term - our investors understand this and we are very thankful to have them onboard.   BitMart Admin: Q7. Bitmart has a very international community. Please tell us more about your plans in terms of global expansion.   Mickael: From the very beginning, when conceptualizing DragonBite, we knew we had the opportunity to build a gigantic global business. The problems we are solving are not limited to just Asia and our aim is to be operating on all continents within a very short amount of time. This is also why we wanted to have an international team working from all over the globe. We also built local communities thanks to an ambassadorship program in both English and non-English speaking countries.   BitMart Admin: Q8. DragonBite’s whitepaper introduces a dual token: $BITE and $BITE Point. Could you explain to our community how they work and interconnect with each other?     Mickael: Our secret recipe is indeed our dual token system. Let me explain how it all works: - $BITE, is our incentive token which has a limited supply. It will be publicly traded on crypto exchanges and merchants and partners utilizing our platform to provide loyalty programs and promotion activities will be charged in the form of $BITE. $BITE is also required as a transaction to bid for 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 cards. On the other hand, users or partners participating in trading activities and making contributions 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. - $BITEPoint is DragonBite’s universal stablecoin, pegged 1:1 with the US Dollar and backed by all the digital assets 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 in the DragonBite ecosystem. BitMart Admin: Q9. DragonBite is currently promoting a Grand Giveaway campaign with incredible prizes to win! Please tell us more about this exciting initiative.    Mickael: Yes! And we are so excited about this! We are giving away the following prizes: - 1st Prize: x1 Ferrari California - 2nd Prize: x10 Test Drive of any of the following supercars — Lambo, Ferrari, McLaren, Porsche, Aston Martin and more - 3rd Prize: x5 iPhone 12 Pro - 4th Prize: x5 set of APPLE AIRPODS - 5th Prize: x10 10,000 $BITE All the details are accessible on this page.   BitMart Admin: Q10. DragonBite announced last month a strategic partnership with WiFiv to get $BITE listed in all their bitcoin ATMs by Q1 2021. Do you think this could be the turning point for DragonBite to reach a regional adoption by the APAC crypto community?    Mickael: Yes indeed - we are thrilled to announce a partnership with WeFiv, a leading Crypto Teller Machine operator in APAC and one of Hunter King Group’s latest acquisitions. WeFiv will list $BITE — DragonBite’s native tokens — among the cryptocurrencies accepted in the WeFiv Crypto Teller Machines (CTMs), a crypto take on the legacy finance system’s ATMs. We definitely believe this will participate in the mass adoption of BITE since CTMs are on the rise and used by thousands of people everyday.   [Free Q&A] Question from a Community Member: Q1. Revenue is an important aspect for all projects to survive and maintain the project / company. What is the way to generate profit / revenue from a token? What is the income model?   Mickael: Revenue is definitely something crucial and we will generate it through a multitude of revenue streams with the main ones being from transactions occurring on our platform, both from our users and merchants.   Question from a Community Member: Q2. DragonBite's roadmap started since 2018 and has 3277 people signed up already. What are the marketing strategies by the DragonBite team to further publicize DragonBite?   Mickael: Our goal is to market DragonBite to both crypto and noncrypto users communities. We've been very successful with partnerships, AMAs like this one, traditional online ads and giveaways but the long term goal is to rely heavily on our merchants ecosystem as it will be in their interest to promote DragonBite as well.   Question from a Community Member: Q3. Who is BITE 's biggest rival? In the future, does BITE have a plan to beat your rival or cooperate with them? I think that will be a huge step forward for BITE.   Mickael: The competition is very different and that's a big opportunity for us. Most of the existing ecosystems are siloed and working independently from each other. What we are doing is very unique because we want to consolidate all of them in order to make it as easy as possible for our users to do what they really want with their hard-earned digital assets. We want to give back the freedom to our users and that's our core mission. We are also very thankful for our partnership with AsiaTop making us available in more than 50,000 points of sale locations across Asia - this is a terrific competitive advantage as you can imagine.   Question from a Community Member: Q4. How many rewards campaigns could $BITE run in the near future? Do you want to attract more users to your ecosystem?   Mickael: We will definitely organize a lot of rewards campaigns. It's a great way to give back to the community and attract more users.  We need to grow our user base very fast, and our merchant's ecosystem as well. They both go hand in hand and giveaway campaigns are extremely well received by the community.   Question from a Community Member: Q5. 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 you in non-crypto space?   Mickael: Yes 100%! We see ourselves as the company that can really lower the barriers to entry for crypto investment. We want to make it seamless for first-time investors to enter the crypto world and doing so through "bite-size" investments is the way to go. Don't get your hard-earned digital assets to expire - rather invest them in crypto through DragonBite! That's one of our core missions.   [About BITE] BITE is DragonBite’s native cryptocurrency. BITE is distributed to users as a reward for contributions made to DragonBIte Ecosystem and provides access to a variety of economic incentives. Contributions include, but are not limited to, buy, sell, trade, convert, send digital assets within DragonBite Ecosystem.    [Useful Links] - Official Website: https://www.dragonbite.io/   - Explorer: https://etherscan.io/token/0x4eed0fa8de12d5a86517f214c2f11586ba2ed88d  - Whitepaper: https://asiatop-net-static.s3-ap-southeast-1.amazonaws.com/media/dragonbite+-+whitepaper+0409.pdf   - Twitter: https://twitter.com/DragonBiteDB   - Telegram: https://t.me/DragonBiteD8