Here’s our 50th AMA recap!

Thank you to the Infinity Chain for participating in Ask Me Anything (AMA) with DragonSwap on February 26, 2021. This guest star,

  • Dragon Swap DEV
  • Cosmic Druid

Introduction

DragonSwap DEV,
Hello I have been in crypto since 2016, I love the concept of decentralization and have studied finance for years and now together with my partner @Cosmic_Druid we create protocols, design tokenomics, build ecosystems and we aim to change the crypto world with our projects !!

MODERATOR QUESTIONS

Q1. Could you please give us a simple introduction of Dragonswap? What’s the motivation for starting build Dragonswap?

DragonSwap DEV,
Dragonswap is a yield farming AMM protocol initially operating in the bsc network due to the fast and affordable transaction costs, we decided to create dragonswap because we were tired of seeing food names protocol that just keep printing tokens to the infinity, benefitting from people’s greed by creating insanely high APY unsustainable projects, without the token having an actual value or use case !

Q2. What makes Dragonswap special? How is Dragonswap better than other DeFi platform?

DragonSwap DEV,
There are many special features about Dragonswap, I believe the one of the most important ones is the ability of generating an income outside of its own farming protocol, by using a % of LP tokens deposited/withdrawn to farm outside our own protocol, mine cryptocurrencies using renewable energy all around the glow and use a % of that income to buy back dcash and another % to reward liquidity providers!!

Q3. Can you explain about the tokenomics and use-cases of DCASH token?

DragonSwap DEV,
DCASH will be the dragonswap native tokens and it will be used for rewarding liquidity providers, play in lotteries and games, governance and we plan to assign multiple other use cases as the protocol matures

Tokenomics
Initial supply 2 mln
presale allocation 850,000 DCASH
initial DCASH in LP 180,000 DCASH
All remaining DCASH will be used for airdrops, constests and prizes.
No team tokens !
Tokens per block 5
Day 1–5, Day 2–6, Days 3–7 etc.
Increasing 1 TPB daily until 30 and then dropping back to 5 by 1 daily.

Q4. About transparency and security, how can you assure us that your security is strong enough? Did Dragonswap audited by any third party?

Cosmic Druid,
and one other special thing is dragonswap has no team tokens so as not to lower the tokens price when team sells

DragonSwap DEV,
Being transparent with investors and community is one of our main values, and the plan is ultimately for dragonswap to run itself through governance.
the code we are using has already been audited and considered safe.
With that being said we still plan to have our smart contracts audited before launch to ensure to the community the code is not exploitable.

Cosmic Druid,
yes we are working with a professional audior but tbh our contracts don’t need audits but will have them anyway, as they are forks with small additions

Q5. Can you please tell us the current Dragonswap road map? How far has Dragonswap been developed at this time? and what will you realize in the future?

DragonSwap DEV,
We have built a quite large and active community in a very short period, we had the presale, and now masterchef code is being finalized.
next steps are audit our smart contracts, add liquidity and distribute tokens, open the farms, build up the liquidity in our AMM platform, DCASH Burn Lottery,”dragonsafe” dragonswap multisignature wallet, Gem pools deposit DCASH to earn more DCASH, Governance and much more to come !

TWITTER QUESTIONS

Q1. The medium article that explains the Tokenomics, says clearly “ The $DCASH will initially be a BEP-20 Token” so in the future are you considering link more blockchains ? Which ones?

DragonSwap DEV,
Yes, we want dragonswap to be fast and cheap but we also love decentralization and let’s say BSC net is not the most decentralized blockchain, that’s why we plan to move to our own chain using polkadot technology, we are also considering AVAX chain. We want Dragonswap to eventually become a crosschain project bridging all the major blockchains, crypto and tokens together !

Q2. One of your futures service is the “LOTTERY” so can you please tell us a little bit more about this? What are gonna be the prizes or ways to participate in?

DragonSwap DEV,
Lotteries and burn games will be developed where players can play to win DCASH, all the tokens lost will be burned decreasing the supply and increasing the scarcity of DCASH. People will be able to join by logging in with their wallet on dragonswap lottery page we will have tutorials that explain everything the users need to know before the dragonswap lottery is released.

Q3. Is Dragonswap planning to build partnerships with crypto developers in various countries aiming to market your token and attract crypto people to choose the Dragonswap project? can you tell us sir.

DragonSwap DEV,
Yes we are looking to be a global project, and we are definitely seeking talented individuals that want to help the project grow.

Q4. Is there a presale / privatsale that DragonSwap holds? If yes, what if under certain conditions hardcap is not achieved on DCASH, is it possible to burn unsold tokens? Or will it be inputted in the staking program or lock some of the supply so that only a few are circulating?

DragonSwap DEV,
The Dragonswap presale is already over, a total of 170 BNB has been raised, 100 BNB will be use for marketing, auditing and development expenses and 70 BNB will be added with a total of 180,000 DCASH.
The remaining supply will be used for marketing contests, airdrops, prizes and more.
Team will not have any team tokens, as we think is one of the main reasons the token price of yield farming protocol collapses, they dump the team tokens !

Q5. Many new project gives good impression at first but suddenly broke. So how can we trust Dragonswap as time goes by? What is the greatest potential of this project that will make it outshine in the market? Thank you

DragonSwap DEV,
As previously anticipated what these yield farming protocol lack is having an actual value outside of the ecosystem and ways to keep the inflation under control. That’s why Dragonswap is so innovative, by taking a % of LP tokens deposits/withdrawals the protocol is able to establish multiple income streams, and use that revenue to a)reward Liquidity Providers, b) buying back DCASH and burn it in order to decrease the supply, increase the price and its scarcity !

TELEGRAM QUESTIONS

Q1. From @hydira_crypto

Many new projects initially developed well but were suddenly abandoned. How will you manage your project to get your position on the market and become the best project in the blockchain world?

DragonSwap DEV,
We are developing a project that is very similar to sushiswap/ pancakeswap in the dynamics, but by generating income outside of our protocol and bringing many features we shall acquire a huge market share and revolutionize for ever how we think about yield Farming protocols !!

Q2. From @chientha

Earning tokens is easy, but is it really hard to make this token valuable? What can you do to make your token more valuable? Do you have any Coin Burn / BuyBack system or any #DCASH burn plan to increase the value of Token and attract Investors?

DragonSwap DEV,
Hello, we have many ways with which we plan to burn tokens, using a % of LP tokens to generate income and use that income to burn dcash, lotteries and game where lost tokens will be burned for ever, dragonsafe taxes will be in DCASH all those could be burned and many many more features we plan to build in the not too distant future !

Q3. From @FanDefi

Asia, Africa and other communities are Non-English speaking communities, how will Dragonswap create global adoption to more local communities ?

DragonSwap DEV,
We plan to build many non english communities and we will be seeking moderators with native speaking level that will help us make dragonnswap a global project !

Q4. From @Densoia

Nowadays, everyone is interested in their own benefits from many different projects but they rarely care about the benefits of the project for the user. So what benefits does the project bring to users? What are the plans for reaching new investors and new users in other countries?

DragonSwap DEV,
The beauty of dragonswap is that liquidity providers not only receive rewards in dcash, in fact we plan to assign to liquidity providers a % of income generated by our project and by burning dswap regularly, making token price rise in value !

Q5. From @KaoVaer

without proper marketing and capital infusion, project dies, how do you convince us you have adequate marketing power and capital to push this project to the top project ?

DragonSwap DEV,
We started with no marketing whatsoever and reached 700+ members without any sort of investment, we believe the project will really market itself with the multiple innovative features, and the best them a protocol can have,
Dragons !!

Thank you for trusting Infinity Chain as the organizer of the event today, hopefully everyone can understand about DragonSwap.

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