Recapitulation of MULTIBRIDGE PROJECT AMA event held at AMA LOVERS CLUB.
Date: Wednesday, 31st March, 2021
Time: 11:00 UTC
The MULTIBRIDGE PROJECT team was represented by @Tomito_kot and @BRIDGE_Suki who judiciously shared with us detailed knowledge and information about MULTIBRIDGE PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on MultiBridge?
ANS: There are 4 members working on MultiBridge now:
Tomito - CEO and Co-Founder
Myself - Co-Founder and business development
0xMEIBO - Senior blockchain dev
0xCHENGLEI - Senior Solidity dev
Together we have more than 10 years experience in the blockchain sector and developers have been building projects on ethereum in the past. Up until our first product is delivered we will remain anonymous.
Q2: Can you introduce MultiBrigde, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: We have seen that the Ethereum DeFi sector has started to see a rapid growth with Total Value Locked exceeding $40B assets. With the rise of DeFi on Ethereum there were first major flaws spotted - named ethereum gas. Due to high gas fees there has been a huge barrier for new crypto enthusiasts to enter and trade Ethereum tokens. Innovators have seen a solution in the Binance Smart Chain where first big projects like PancakeSwap have started to show a competition to the likes of Uniswap. Binance Smart Chain has paved the way for many new projects and we have seen a big increase in BSC projects in the last quarter of 2021. This has lead to many Ethereum projects searching for alternative token on BSC. At the moment a Binance Bridge is the only solution that has proven to be working. As the nature of the solution is centralized there is a long queue in creation and swap of tokens from Ethereum to Binance Smart Chain. With upcoming Polkadot blockchain and Dfinity blockchain we will only see more demand for decentralized bridge solutions.
This is the problem we have described in our Pitchdeck and we aim to solve it with our solution.
A decentralized bridge for everyone!
Q3: So MultiBrigde is a rebranded version of Xreapers however looking through Multibridge I saw that the vision is still the same.
Why do you think the rebrand was necessary?
ANS: We rebranded to have a more professional & clean look. Now its also clear from the logo what we are trying to do: “Building a bridge”
In simple terms of course.
Q4: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: Our biggest achievements so far were getting onboard 2 veteran blockchain developers with the ability to deliver what we set out to accomplish, rebrand to MultiBridge and signing with a great Launchpad - Oxbull that will help us receive the funding that we need to bring our product to the market.
Q5: I went through your website, I was checking through your team but all I saw was anime in the profile picture
Is the team anonymous?
Or those anime pictures has what they characterise?
ANS: Yes, other than that we have full transparency and all of the necessary security measures setup + a Certik audit in the works. We will let our work do the talking.
Once the liquidity is provided Oxbull will handle the LP tokens, vesting contracts have been created we prepared for everything.
Q6: Can you briefly describe your PARTNERSHIPS so far?
ANS: We want to have meaningful partnerships with projects that we will actually work together and produce something not just for the sake of having them since they are otherwise meaningless. Currently the most important one that we have revealed is with Oxbull that will be incubating us. You can read more about it here: https://oxbull.medium.com/bridging-the-gaps-with-multibridge-b07d082e2367
More partnerships to be revealed.
Q7: Can you give an overview of your Tokenomics, and the UTILITY of the $mBridge token?
ANS: Well the token will be called $BRIDGE without the m, since Twitter doesn't allow for more letters 😅 BRIDGE will be used for governance, bridge fee sharing, farming, staking and for the NFT market.
2nd Segment: LIVE Questions
Q1: Congratulations on the closure of your private sale, how did it go? How many BNB were collected?
ANS: Thank you! We sold out and raised 500 BNB.
Q2: When we will find out mBridge in coingecko? When you apply for list there?
ANS: We will apply as we list on PancakeSwap after the IDO finishes. Hopefully we get listed as soon as possible then.
Q3: When mBRIDGE token will complete IDO....where you want to do this IDO?
ANS: Ido will happen on Oxbull
Q4: On 3rd April MultiBridge IDO will occur on the Oxbull launchpad. So Please tell us What will be hard cap and exchange rate of $BRIDGE ? And Do you have any plans for listing on major exchanges Which can take your project worldwide.
ANS: Hard cap will be 1600 BNB & the exchange rate will be 1 BNB = 1000 BRIDGE. 50% of the tokens will be unlocked immediately and the other 50% after 1 month.
Listing price on PancakeSwap will be 1 BNB = 920 BRIDGE.
Q5: Using the MultiBridge Dapp, the transsaction will be between between #Ethereum , #binance_smart_chain and #palkadot through the MultiBridge platform....Which of this three chain token will be used as fee? $ETH $BSC or $DOT or $MBRIDGE token?
ANS: Bridge fee will be paid in the input currency, you will be able to decrease your fees by holding BRIDGE. The more you will hold the lower the fees.
I would like to thank everyone for their time and hospitality. It was great!
Follow Us On Our Various Social Media Communities For More Update;
Pitch deck: https://multibridge.org/files/MultiBridge_Deck.pdf
If you have any more questions feel free to join our telegram and we can continue the discussion there!
Thank you for hosting us and have a wonderful day!
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