1) Good evening, greetings from Asia Blockchain Community. Can you give a brief introduction of yourself and your team?
Hello everyone, first I am pleased to be here to present Bridges to your vibrant community. Thanks for the opportunity. I am Danny, CEO of Bridges, a big decentralized finance fan and investor even before creating Bridges. Our team was initially composed of 4 people, 2 of them, COO and CTO, coming from the fintech world. But after our token fair launch, November 13th, we had to scale up rapidly, so we now have a Community leader, content creators, moderators for our social channels and we now add up to 15 people and still hiring, especially marketing experts and software engineers. Feel free to send your application to talent@bridges.exchange if interested.
2) Tell me what is Bridges all about? What makes you stand out from your competitors?Â
I think what sets us apart from the majority of the DeFi projects out there, besides the roadmap, is our communication style and marketing approach. We never hyped, and will never hype or tease our community.
We work hard behind the scenes and make announcements only when everything is ready. While for marketing we are trying to divide it into incremental steps, always bigger than the previous step, to grow our community organically, rather than pump-and-dump schemes that will eventually hurt our investors.
These are the most appreciated aspects based on our community feedback. They know that if Bridges makes an announcement, it is true and already done.
3) Can you share with us your tokenomics and token structure?
Of course. Bridge$ is a dividend-paying token with a stable supply of 100 million tokens. It is listed on PancakeSwap. We have a 5% tax protocol from which 1% goes to the development wallet to help grow the project, 1% goes to the liquidity pool, and 3% is paid out every 6 hours in BUSD to holders with at least 100 tokens. The tax is purposely low in order not to discourage volume. The liquidity pool-feeding will be dynamically managed in order to keep a healthy amount of volatility, attracting traders and encouraging volume, until our exchange is live, as at that point we will stabilise the price feeding the liquidity pool more heavily, as the volume will come from the DEX and there is no need anymore for volatility.
4) What are your upcoming marketing activities?Â
We care a lot about our image, and that is why we do a lot of research before making marketing decisions. We have secured a partnership with CryptoPR. We just announced it 2 days ago. It is a marketing agency that will give us access to several established marketing avenues, in order to cover the European and American markets. We are researching potential partnerships to carry on our marketing in the rest of the world.
5) How does your technology and product roadmap looks like? Why do you call yourself a semi-defi exchange?
The completely decentralized ideal was and remains amazing. The concept that whoever has an idea could create their project and list it without trusted parties, complicated legal procedures, and huge investments is one of the most powerful and beautiful ideas out there. But we have to face the reality, and the reality is that this level of freedom is currently leveraged and exploited by scammers. This is first of all damaging the investors that get scammed, but even the serious projects, as now the investors are losing faith in the DeFi world. We want to fight this aspect and reverse the trend. DeFi has to be associated with words like freedom and opportunity, not scams.
6) What is your revenue projection like for year 1? Where are the core drivers?
This is a hard question to answer as this sector is in its childhood. Observing other DEXs you can notice that the biggest DEX so far in the Binance smart chain moved from ~$100M in daily volume to almost $1B average daily volume in 6 months. We at Bridges are all about quality over quantity, however, quality brings quantity, as good projects are where the volume goes. To give a realistic forecast, $50M in daily volume in the first 6 months after the DEX launch is achievable, which would allow us to pay $1.5M in daily dividends. Also, we are always open to evaluating other side use cases for our token as well. Dividends are not our focus, dividends are just a nice side-effect as we always say. We are focused on giving Bridge$ as many use cases as we can, which in turn will bring dividends. Passive income itself will never be a use case.
7) Where will you be listing next? What are your plans?
Unfortunately, in DeFi there are still some bottlenecks. If you want to enter or exit an investment you have to go through centralized structures most of the time. This means investors either have to go back to assets tradable in centralized exchanges, or the asset has to be listed there. We are not excluding listing our token in a centralized exchange in the future, if we notice bottlenecks in our use cases, but we do not have plans to list on other exchanges in the immediate future. Instead, we will focus our energy on building our own exchange.
8) What other strategic partnership will you be forging? Is Asia a focus for your business?
Asia is of course a focus, we want to expand our brand worldwide. In the first phase, we will focus on partnerships that will allow us to package a series of services to the projects wanting to list on our platform.
I am talking about marketing exposure, along with security audits and so on. In the long run, when the DEX is established, we will keep an eye on every single opportunity that could give our token additional use cases in order to expand our business.
9) The market looks gloomy right now. Can you share with us your thoughts on the current crypto market situation? Will it rebound soon?
This depends on the timeline we are talking about. In the short term, we are approaching Christmas and end of the year profit-taking, which happens every year. So I doubt we will see a meaningful rebound in the next few weeks. But in the long term, I think it is not correct to try to predict the crypto market without considering other sectors. The fear and uncertainty given by COVID are setting hard challenges for the worldwide economy. We are witnessing record levels of inflation and a reversal is not in the horizon, and this is highly beneficial for crypto, which indeed witnessed one of its biggest bull runs recently. Moreover, crypto companies are more agile and are bringing innovation at a very fast pace. In 2020 the stock market worldwide was worth $95 Trillion while the crypto market is still below $2 Trillion. I think the entire crypto market will see massive growth in the next 5 years.
10) To end this segment, we would like to get an inspiring quote from you to ‘wow’ our members.
Well, better than an inspiring quote, I want to give an inspiring scenario. Around the world, many people can’t access traditional investment tools. As of now, DeFi is the solution. Imagine making it safe enough for DeFi to go mainstream, enabling whoever has a phone in their pocket to invest their money in a safe way. This is our goal at Bridges.
