December 1-st held an Ask Me Anything session at ICO Speaks telegram chat. From the Bridges Exchange side there was:
👨💻Danny | CEO |@DanBridges
My name is Danny. I’m the CEO of Bridges. I am a DeFi supporter, and I strongly believe DeFi will change the world. This is why I created the Bridges project and put together the Bridges team.
Let’s get started!
Q: What is the main aim of Bridges?
A: The mission of Bridges is to launch a suite of tools to deliver the DeFi space and its opportunities to everyone in a safe, innovative, and equitable environment. The foundation of the project is our token, Bridge$. Now we are in the process of building an anti-scam DEX. The Bridges DEX will also include a launchpad for new projects that will use Bridge$ for the liquidity pool of new tokens. Finally, we will put everything together in a user-friendly app along with a third-party payment provider and educational resources so that everyone can have fair access to DeFi.
Q: How would that anti-scam dex work?
A: As of now, the DEXs are completely decentralized, and our exchange is what we like to call a semi-decentralized exchange. All the projects will have to go through our checks for safety and innovation. Only the projects that make it through will be available for trading on our DEX.
Q: When we talk on more and more project joining to the dex in meantime?
A: Of course it will be to some extent, but we are planning to automate as much of the process as possible to do the initial screening so that we only spend our time doing the manual checks in the final stages.
Q: Why did you decide to build Bridges?
A: It’s not exactly easy for new investors to understand how DeFi works. On top of that, there are so many people copying tokens since DeFi is open source. Even if you know how to invest in DeFi, it’s hard to sort out the gems from the copies. But for me, the final straw was the scams. Probably everyone in DeFi has been rug-pulled. I have been rug-pulled too many times to count, and I lost faith. I decided enough is enough. It’s time for there to be a safer way to invest, one that doesn’t have so many barriers that make it difficult even to get started investing. That’s why our DEX will have rules in place to promote only projects that are both safe and innovative. Additionally, our team is committed to helping educate both new and experienced investors to bring more people to DeFi.
Q: What are tokenomics?
A: 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.
Q: What does your long-term roadmap look like?
A: We are currently building a decentralized exchange that will only list vetted projects that meet specific criteria that show the projects are both safe and innovative. Later, we will also develop an app that includes the exchange as well as educational resources so that it’s easy to understand how to invest in DeFi. Of course, we don’t plan to quit after that. We have other use cases in mind, and our community also has great ideas. We will evaluate our options and add to our roadmap over time.
Q: Why are you not doxxed?
A: That’s a good question. 😉
Q: Your white paper talks about an anti-while holding cap. Can you please explain the reason for having this in your contract?
A: Our team is not doxxed for two reasons. First, it’s a marketing decision. I will doxx once we reach the $50 million market cap. Second, and more importantly, we wanted to send a message. We have seen so many teams with fake LinkedIn profiles. Just because a team claims to be doxxed does not mean that the project is safe. Instead, we locked our token’s liquidity before launch. We use multi-signature wallets to manage all of the project wallets. In terms of safety, these are the types of things investors should look for instead when investing in a new project.
Q: In your website and white paper you mention a charity wallet. Can you share more about this?
A: Giving back is always important. Our charity wallet has 10 million tokens which we will not be selling. Instead, the dividends from that wallet will be donated to a charitable organization each month. The community will get to choose that organization by voting in a poll which will be held each month. In this way, our project can support a variety of causes that are important to our community.
Q: Is the contract audited?
A: Our contract is not currently audited, but it is something that we plan to do as soon as possible. Our Community Leader just launched a fundraiser based on popular demand from our community in order to contribute to the costs of a CertiK audit for bridges exchange.
Q: How will your DEX be different from other DEXs that already exist?
A: The Bridges DEX will be unique in that it will be an anti-scam exchange. There will be requirements in place to ensure that the projects that list are as safe as possible for investors (locked liquidity, etc.). We will also have an additional requirement for the projects to bring some type of innovation rather than just copying existing projects. We want the projects to be successful on their own merit, and we want to support projects that have the potential to develop the DeFi space further. That being said, we will not charge projects for the privilege of being listed on our exchange.
Q: What comes after you have the DEX live?
A: Once the DEX is up and running smoothly, it’s time to break down the barriers that keep many potential investors from getting into DeFi. If you want to get started with DeFi right now, you need evaluate projects, set up a wallet, figure out how to buy BNB or whichever currency you need in order to trade for the token you want, and then connect to an exchange and swap your tokens. It’s a lot of steps for someone who is new to DeFi. We want to cut out the confusion by putting everything in one app. We’ll integrate the exchange, add a wallet, connect to a third-party provider for buying and selling with your credit card, and add educational resources to make everything easy to understand.
Q: Where can I buy it?
A: As of now, our token is available on PancakeSwap. You can go directly to the trading pair here: https://pancakeswap.finance/swap?outputCurrency=0x0e2114955023B736fa97D9E2FCDe2836d10b7A5C
As for our social media links, you can find everything in our link tree: https://linktr.ee/BRIDGEScrypto
Q: Is your project only for elite investors, what about others with small funds, is it open to everyone?
A: It is absolutely not just for elite investors. That’s the reason that we had a fair launch. Additionally, we wanted to prevent any one person from holding too much of the supply. Whales have the power to destroy a project, or at least greatly affect the price. To us, that is too much power for one individual. We felt so strongly about this that each of the developers of this project are also limited to only hold 1% total of the supply, the same limit that applies to all of our investors. It’s important that we do everything we can to make this project as fair as possible for everyone. We will not ever raise the cap above 1%, including for our Dev Team.
Q: How many team members do you have? Do they have enough experience in the blockchain field? Do they have any experience on working in crypto and non-crypto project?
A: We are four team members. Two of them come from the fintech field, and I also have a technical background. Our CMO completes the team. After the launch we rapidly hired several people, and our team is growing quickly.
The other thing I can say about our team that makes us unique in this space is that the other three founding devs are women. We’re quite proud to represent a group of investors whose voices aren’t often heard in this space for bridges exchange.
Q: Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project?
A: We want to avoid a pump-and-dump situation. Therefore, we are growing our project in an organic fashion, which happens to be more in the English-speaking market. We do plan to expand to other markets over time and bridges exchange.
Q: Which one is more important to you:
If all of the above is important to you, which should come first?
A: We care about our community and investors most (which are one and the same). This is why our marketing strategy avoids pump-and-dumps. We do care about the price, as this is what makes investors happy. We also care about use cases though, since this is what brings volume and therefore dividends to our investors.
ICOSpeaks hosted an AMA Session with the Bridges Exchange Team. That’s all for today.
Thanks to all users who participated.
Thanks, Bridges Exchange for being with us
Thanks, all and see you soon😉
Wanna know more?
Take a look at our other ama sessions