DragonBite x Im Community AMA Recap

9 min readMay 24, 2021


🐋 TELEGRAM AMA: Im Community & DragonBite 🐋
⏰ AMA Timing : 19 May 2021 l 02:00 PM UTC l 21:00 GMT +7

Venue For AMA : https://t.me/imcommunityitw

🎁 Reward Pool 100$

Bà Tân | : Welcome @mcostache from DragonBite

🍀Jőhn L🍀 : Nice to meet you😂😂

Bà Tân | : Welcome everyone. Today Im Community will host AMA with DragonBite

Bà Tân | : Today our guest is: @mcostache from DragonBite

Bà Tân | : Please introduce yourself a bit: @mcostache

Mickael Costache : Yes sure

My name is Mickael Costache and I’m the CEO of DragonBite. Previously, I was the Regional Director for the Middle East, Asia and Africa at Espeo Blockchain, one of the leading blockchain development and consultancy studios in the world. I’m based in New York but spend a lot of time on the ground in blockchain hubs such as Singapore or Hong Kong. I also help other entrepreneurs turn their ideas into working decentralized solutions, ranging from ICO/IDO development to conceiving complex blockchain solutions for large enterprises, as well as blockchain advisory.

Bà Tân | : Thanks for the introduction

Bà Tân | : Today’s AMA will have 2 sessions

Sessions 1: The chat will be muted & the team will introduce themselves then we will ask some introduction questions to the team DragonBite

Sessions 2: The conversation will open to the community questions and the 10 best questions will be selected.

Bà Tân | : Rules to follow AMA : ⤵️

▫️ Join : Telegram group DragonBite Official (https://t.me/DragonBite) , DragonBite Announcenment Channel (https://t.me/DragonBiteD8) and IM Community (https://t.me/imcommunityitw) , Channel Im community

(https://t.me/imcommunityit)▫️Follow: Twitter DragonBite (https://twitter.com/DragonBiteDB) and IM Community (https://twitter.com/IM_Communityitw)

Web & Community:


Bà Tân | : Those who haven’t joined @DragonBite group will not be eligible for AMA rewards, make sure you did.

Bà Tân | : Start session 1 AMA @mcostache

Bà Tân | : Question1. Could you please introduce briefly your team and DragonBite?

Mickael Costache : Yes of course: DragonBite is founded by a talented team of blockchain enthusiasts. The team has accumulated over 50 years of experience in digital marketing, technology, loyalty, payments, banking, consulting and fintech. The DragonBite team is based in China, Hong Kong, Singapore, the United Kingdom and the United States. Notable team members include Elvan our COO, Florence our CFO, Chris our CMO and Andy our strategic advisor.

Now about DragonBite itself: DragonBite is a truly open decentralised asset management platform for customers to store and swap all kinds of digital assets in One App with One password! Our vision is to disrupt the loyalty market with innovative business models and technology.

DragonBite is a digital wallet for all customers to store their digital assets, including Loyalty points, E-vouchers, E-coupons, Gift cards, Air mileages, In-game assets and Cryptocurrencies. DragonBite can preserve the value of your loyalty continuously and aggregate all your scattered assets into one wallet with one password.

Bà Tân | : @mcostache Please say “Done” when you have finished the question, thank you.



Bà Tân | : Question2. How has the experience and background of your team been effective in the success of your project so far ?

Mickael Costache : I’m very lucky to have assembled a team of experts in their fields with each of them bringing years of experience, connections and subject expertise to build DragonBite. This venture has a tremendous impact because the problem we are solving is massive and global and for this reason, it was very important to surround myself with an amazing team able to build this company with me. Our technology is state of the art (big thank you to Peter our CTO) and we managed to raise close to 3 million dollars in our private round (which was immediately oversubscribed). On top of this, we have signed fantastic partnerships making Bite available in more than 50,000 locations from the start. All these achievements wouldn’t have been possible without my great team members

Bà Tân | : @mcostache Please say “Done” when you have finished the question, thank you.

Mickael Costache : DONE

Bà Tân | : Question3. Next, please share with us the vision of DragonBite in the near future ?

Mickael Costache : Our plans for the near future are very exciting: we are listing on Uniswap in a few days, putting the finishing touches to our App for public release and working on our migration to RioChain in Q3 of this year. Our marketing team is also hard at work as we are aiming to attract a very large user base (both crypto users and non crypto community) to join DragonBite. A lot of work ahead 😅


Bà Tân | : Question4. What are the plans for 2021 for DragonBite?

Mickael Costache : If I had to pick two, I would mention our different listings (both on centralized and decentralized exchanges) as well as our migration to RioChain. But again, as mentioned in the previous question, the launch of our App and big marketing and partnership iniatives will also drive the rest of the year for my team and I.


Bà Tân | : End of session 1

Bà Tân | : We’ll move on to session 2

Sessions 2: The conversation will open to the community questions and the best questions will be selected.

Bà Tân | : Rules to follow AMA : ⤵️

▫️ Join : Telegram group DragonBite Official (https://t.me/DragonBite) , DragonBite Announcenment Channel (https://t.me/DragonBiteD8) and IM Community (https://t.me/imcommunityitw) , Channel Im community

(https://t.me/imcommunityit)▫️Follow: Twitter DragonBite (https://twitter.com/DragonBiteDB) and IM Community (https://twitter.com/IM_Communityitw)

Web & Community:


Bà Tân | : Those who haven’t joined @DragonBite group will not be eligible for AMA rewards, make sure you did.





Bà Tân | : Thanks for the questions from the community

Bà Tân | : @mcostache Pick the 10 best questions and answer it for session 3.

Mickael Costache : Sounds good!

Q1. What is the backgrounds of your team?

Mickael Costache : Our team is very diverse. For example, Elvan our COO is a serial entrepreneur. He bought his first bitcoin back in 2015 and founded his first Blockchain startup in 2017, it was a payment infrastructure allowing people to buy Bitcoin and Ether with Visa and Mastercard. He has also been involved in the loyalty industry for years. Andy (our stratefic advisor), has 20 years of experience in loyalty and payment (e.g. Mastercard, Airline and hotel loyalty). Florence (our CFO) has been working in Fintech companies for years: Bloomberg for over 12 years for example and she built trading platforms for Money markets, FX and short term debt for the world.

Q2. For a project development first of all main priority is having enough fund. Does your team financially capable to run this project? Do you have enough fund for it’s developement Can you tell us that how your project generate the profit?

Mickael Costache : Yes great question! We have successfully raised a substantial private round and our tokenomics have been very carefully created for DragonBite to be a profitable venture. I invite you to go through our whitepaper (available on dragonbite.io) to go through the tokenomics in detail.

Q3. It’s hard for investors to trust and invest in new projects lately and most the project have claimed to be falsified, How do make investors trust your platform?

Mickael Costache : That’s a great point! We are very lucky and proud to have attracted a lot of amazing investors so far and partners as well (big names in the industry). I think they are looking at the technology, the team’s background and the state of our business. The fact that we are already available in more than 50,000 points of sale locations in Asia is a pretty huge deal that puts us years ahead of any kind of competition!

Q4. What makes you feel confident about the existence and sustainable success of the project in the near future? While building the project, did you take into account community feedback and requests?

Mickael Costache : We absolutely rely on community feedback and this is something tremendously important to us. Our project is a solution to a global massive problem so we feel very confident in our ability to grow it into something huge and not only survive but thrive in the coming years!

Q5. What is your current DragonBite project focus on the main goal? Will you be the direction your project will develop this year or the future?

Mickael Costache : As our funding, technology and marketing engines are all in the green, we will be very focused on customer acquisition as well as broadening our merchants partnerships. We need to grow both together as they will be the basis of our future success

Q6. Ever since the journey of your Dragon Bite Project, can you tell us the greatest challenge you have had, how you overcome it and what keeps you going till today?

Mickael Costache : Great question! Definitely a lot of challenges like with any startup but I’d stay that finding a way to get those 50,000 partners onboard was the most exciting endeavor for us thus far. Day after day, my team and I get more and more excited about what we are building because we see how our investors and the general public react to what we have to offer and this definitely keeps us going when we are having a bad day 🙂

Q7. Marketing is important for project success. What is the marketing vision of Your project? What arec your goals?

Mickael Costache : You are absolutely right! While we are currently focused on attracting the crypto user base to our platform, we are at the same time putting in place several marketing iniatives to attract non crypto users as we see them as a massive opportunity. In fact, we are lowering the barriers to entry to crypto investing for the general public and have a long and exciting journey ahead of us to grow our community to tens of millions of members. The great news is that everyone can rely to what we are building and this is the big power of DragonBite

Q8. Any details on where we can buy tokens and possible listings in future?

Mickael Costache : Stay tuned! We will be listing on Uniswap in the next few days as well as some exciting announcements coming up for centralized exchanges too. Please follow our channel to keep up with those announcements

Q9. What is the role of tokens in the ecosystem? Where can people currently buy it? What is the functions of the tokens?

Mickael Costache : Great question!

Our secret recipe is our dual token system. This may be the reason why other loyalty projects failed before us.

$BITE, is our incentive token, which has limited supply. It will be publicly traded on crypto exchanges. Merchants and partners that 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 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 card.

On the other hand, users or partners participating in trading activities and making contribution in our ecosystem will be rewarded with $BITE. $BITE holders will earn more $BITE from staking, too. We provide sufficient incentives 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 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 on DragonBite’s ecosystem.

Q10. I was exploring your website and i couldn’t find your roadmap. Do you have one? Could you share it? I am curious to know your plans and strategies for this 2021.

Mickael Costache : Yes sure thing. Our roadmap is on our website and I also gave details about this above. What I would invite you to do is to go through our pitch deck or whitepaper (both available on dragonbite.io) and follow our channel for more announcements. But to answer your question more directly, we are focused on our listings, launching our App, migrating to RioChain and launching several exciting marketing initiatives to increase our user base 😉

Bà Tân | : Thanks for the useful information from @mcostache

Bà Tân | : End of session 2

Bà Tân | : For questions that have not been answered today, you can send them to @DragonBite for answers.

Mickael Costache : My pleasure!

Mickael Costache : Thanks for having me today 😄

Bà Tân | : Allright, I declare the Im Community AMA with DragonBite has ended.

Thanks to @mcostache | DragonBite joined us and provided us with DragonBite information, we hope that this knowledge makes us understand more about https://www.dragonbite.io/

To the members, thank you for following this event to the end. winners will be announced soon.

Bà Tân | : Today’s AMA winners please PM @quocnguyen1234 to provide reward information. Thanks everyone .




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