July 27-th held an Ask Me Anything session at ICO Speaks telegram chat. From the DXB Pay side there was: Michael Bort | @PR_DXBPay | Head of PR
Good afternoon to all the community, I am Michael Bort the head of PR at DXB Pay ltd.
I am a graduate of California State university – long beach college of business.
I have handled various roles within the media and advertising industry working with large agencies across the globe.
I have been in the cryptocurrency space for over 3 years, I love the blockchain space for the creativity of applications and solutions it offers.
I am excited to be here and share with you the most interesting crypto project launching tomorrow.
Let’s get started!
Q: Can you provide a short and straightforward description of DXB Pay?
A: DXB is building a payment model that utilizes cross-chain capabilities to serve the needs of merchants, and offer a safe payment gateway that allows a wider sector of clients to shop online and pay using their crypto currency.
The final product of DXB Pay will be adopted by merchants who perform large-scale and high-speed transactions and wish to expand their client reach by accepting crypto currency as a form of payment without jeopardizing their profits and loosing on transaction fees.
DXB Pay will facilitates large-scale online payments through cryptocurrency in a decentralized and cost effective environment.
It will provide a safe payment gateway for users to pay for products and services using their crypto wallet, while offering merchants a simple integration process that offer a secure and a sustainable payment method.
In such, DXB Pay is building a complete eco-system that truly bridges the crypto universe with the real world.
DXB is the utility token that will power the DXB pay ecosystem for all future DeFi products. The DXB token is a specialized cryptocurrency with a plan to encompass multiple technologies like DeFi, merchant payment channels, incentives, and charity.
DXB is the utility token that will power the DXB pay ecosystem for all future DeFi products. The DXB token is a specialized cryptocurrency with a plan to encompass multiple technologies like DeFi, merchant payment channels, incentives, and charity.
Q: What are the reasons behind creating DXB Pay?
A: To create fast, and decentralized payment gateways, trading, and business plans. DXB aims to facilitate payment services like Uber, airline travel, Booking.com etc.. that are usually large-scale, high in number, and fast. Achieving this will be the strongest method to bridge the gap between crypto universe and real world which we are all looking towards. What a better way to bring the two worlds together more than actually using your crypto currency for your everyday shopping?
DXB Pay can be used to reward merchants and customers into taking this step (Which is inevitable) and adopting DXB Pay, while utilizing its resources as an incentive medium for campaigns.
Q: What are the problems that DXB solves?
A: DXB Pay offer the safest and most ideal solution to ecommerce merchants who wish to attract shoppers from the crypto world by accepting cryptocurrencies as a form of payment, and offer a powerful, safe, and highspeed payment gateway.
DXB Token aims to prevent the possibility of a rug pull and reduces the chances of impermanent loss. That’s why staking and yield farming is not supported by DXB. Instead, every transaction has a fee of 7% where 2% will be sent to PancakeSwap liquidity pool to ensure a stable price floor, and 2.5% will be sent to a burn address, and the remaining 2.5% will be exchanged with BNB and distributed to DXB holders and to serve the project’s causes.
Q: The project has a charity goal. What is it?
A: Yes, and this is very dear to us, as charitable work by crypto project is a living proof to the sustainability of truth of cryptocurrency.
DXB allocates a portion of the BNB rewards will be used for charity.
DXB aims to build 101 schools around the world, this is achievable through the accumulation of the charity rewards as people transact, and through the efforts of DXBPay team and the community, the plan is set and the locations were pinpointed and we hope soon we will see the first school being built by DXBPay to offer those underprivileged with a better opportunity for education, this is our biggest heritage we wish to accomplish and pass on.
Additional charity initiatives proposed by the community will be voted and implemented when possible
Q: When and where will the DXB Token launch?
A: Indeed, it is the most important question, DXB token pre-sale will take place tomorrow 28th of July. The token sale will be achieved through the DxSale entity www.dxsale.app. The process will start with a pre-sale of 14% of the supply. Any extra tokens left from the presale will be automatically sent to the burn address reducing the supply before trading.
Soon after the successful pre-sale completion, DXB will be traded on PancakeSwap against BNB, while other exchanges will be considered. So tomorrow is our Pre-Sale and i invite all community to join us.
Q: How does DXB benefit investors?
A: In many ways, but i will list few of the top ones,
First, DXB holders will earn BNB tokens as a rewards simply for holding DXB without farming or staking.
Second, DXB will be the token used for DXB Pay solutions and partnerships, so they are investing in a token that actually has a use and is very powerful one.
Third, the fee burn and cycle burn ensures a lower circulating supply and higher token price, so it is an investment on the long run.
Finally , each transaction contributes to help building a school and offering a little to those who need it.
There are many future plans set for DXB, it will be announced in due time.
Q: Will you have staking and yield farming? Why?
A: No, to eliminate the chance of impermanent loss and rug pull. DXB investors will earn more by only holding the token in their wallet, they will receive BNB rewards while watching the price of DXB on the rise. No staking or yield farming is required.
Q: What are your plans for DXB?
A: We have large plans and a long road map. However for now, the DXB is working hard on setting up a fair launch for the DXB token starting tomorrow.
After that, community growth and governance will be the top priority. The next step will be to develop the DXB trading platform and NFT farming. The DXB team is studying new use cases and working on future partnerships that will benefit the DXB holders on the short and long run, we will continue to expand the platform.
Q: Can you tell us a little bit about your burn mechanisms?
A: Yes, I am very excited to share with you that DXB Token contract has 2 intelligent burning mechanisms, the first is a 2.5% fee deducted from each transaction and directly sent to the burn address to be burned forever.
And in addition to that, DXB Token contract has a dedicated locked wallet for “cycle burn”, it calculates an equivalent to 5% of all sold tokens within a cycle of 30 days and burn it forever, the burned “cycle burn” tokens are locked in a dedicated wallet upon deployment of the contract which was created for the purpose of cycle burn only, so it will not impact the liquidity pool or the investors in any way, other than help increase the price of DXB on a monthly basis due to lowering the circulating supply.
This is exciting because we can expect a pump to the price of DXB on a monthly basis due to cycle burns, how much we burn every month? Well the more people buy on that month, the more it will burn, so its with the hands of the community.
Our project starts with a total supply of 500T and will keep burning both ways, Fee burn and cycle burn until the total circulating supply reaches 10T
Q :A bright future for NFT’s.
Can you share to us, What is your thoughts on NFTs over the next few years?
A: NFT farming is one of the plans for DXB Pay in the future, check our website and white paper and you will see how exciting the future looks for DXB
Q:There are lots of PUMP & DUMP project in the market. How is your project different than others? What are your plans for project sustainable long term growth? There are lots of PUMP & DUMP project in the market. How is your project different than others? What are your plans for project sustainable long term growth
A: thank you for asking this question, DXB Pay is working to set itself away from all such projects, therefore our LP liquidity is locked, and the DXB token is the fueling power for DXBPay, so you can see that it is here to stay
Q: Without having any working marketing, and capital infusion the project dies….
Can you assure us users that you have adequate, marketing power and capital to push this project, to the top project?
A: I’m glad you have asked this, we have partnered with one of the top marketing agencies within the crypto space, they are working closely with us and have a 360 plan for a long term, that’s why we are confident DXB Pay is heading to the top and building strong partnerships
Q: Сan I buy your tokens right now and also which wallet support your token?
A: You will be able to buy the token tomorrow on dxsale.app, and soon after will be listed on pancakeswap, our token is build on binance smart chain BEP20, which naturally have a lower fees
Q: For DXB Pay , who are its competitors in the crypto world and How will it overcome them?
A: If you mean competitors in terms of token awarding BNB for holding, there may have few out there, but in our opinion they have major flows that may cause you to loose your rewards if you dont claim them in a certain cycle or so, with DXB token this is not possible, your tokens are accumulated for you to claim whenever you wish. in terms of payment solution, i dont think we have a competitor there yet
Q: Does your project supports local community and what are the plan for awareness of project where english is not spoken?
A: Nice question, the 101 schools set to be built were pinpointed within communities who needs it the most, and in terms of token adoption in other regions, we have a lot coming up, stay tuned
Q: How important will be community for you? Will you have community for non english countries?
A: Community is the heart of every project, crypto and non crypto, building strong community is one of our first and main goals, we will start in english and move to other languages spoken communities soon
ICOSpeaks hosted an AMA Session with the DXB Pay Team. That’s all for today.
Thanks to all users who participated.
Thanks, DXB Pay for being with us
Thanks, all and see you soon😉
Cheers 🥂
Wanna know more?
Take a look at our other ama sessions
