LBank AMA Recap with DBA
Introduction:
GUEST:
Hi All, I am Dr. Ed Obasi, the Chief Operating Officer of DafriGroup PLC owners of DafriBank Digital Limited Licensed with Comoros Island and DafrXchange Pro, a new crypto platform. We also own other subsidiaries like Afrigo Mall, Omaha Hotels, and DafriHoldings UK. I am here to present to you our new revolutionary project backed by these use cases called the Digital Bank of Africa (DBA) Token
I am also a Harvard Alumnus with over 15 years of experience in Business Strategy, Financial Analysis, Accounting and Blockchain technology
First five AMA Questions (First Part):
QUESTION 1:
What is the problem you foresaw and motivated you and your co-founders to start your project?
GUEST:
Our Founders were digital entrepreneurs that traded forex and digital currencies for over five years with some major platforms like Skrril, Netellier in South Africa, due to some regulation and centralization issues, these platforms blocked withdrawals from the system without prior notice leading to millions of dollars stuck in their platforms, our Promoters were faced with this ugly situation of losing their investment capital unannounced. This created a lot of complaints and dissatisfaction among several digital entrepreneurs who teamed up together and started looking for solutions to facilitate trade, commerce, and digital entrepreneurship. This led to the novel idea to set up a digital bank fully licensed with the government of Comoros who are also crypto-friendly and to add a Centralized Crypto exchange for the purpose of facilitating fiat to crypto transactions and vice versa
QUESTION 2:
What is the business model?
GUEST:
The Business model is to set up a one-stop financial shop where users can bank with our Digital Banking or offshore banking solution and integrate the Centralized exchange using what we call Dafri Epay API to facilitate wallet funding, deposits and withdrawals in the exchange for fiat currencies and crypto. We currently support a Swap or Instant Exchange model where you can seamlessly swap your Fiat currencies like USD, EURO, Naira, Rand, BWP to any of the major cryptos like USDT, USDS, BTC, ETH, DBA and DOT without the need to trade them and the fees are quite affordable. We also implemented a Payment Agent Model to have a P2P payment agent in different countries to facilitate peer to peer transactions and payout. . We are currently finalizing testing on our Defi Protocols that will be web-based to scale our operations and increase the utilities of our token for Farming Pool, Staking and Borrowing using DBA as a security
We are also launching an e-commerce platform called Afrigo Mall patterned after Amazon to facilitate e-commerce transactions in Africa and UK and Europe as we are recently registered in the UK under the name of DafriHoldings UK LTD
QUESTION 3:
How does the token get involved in the whole project and ecosystem?
GUEST:
DBA token will be used to pay fees in our various platforms at discounted rates, we have a hospitality arm called Omaha hotels where you can stay in the hotel using your DBA for payment, DBA is also the only currency accepted as security for short to medium-term lending in our platform, just deposit 150% value of your DBA and you get an instant loan of 100% within minutes from the system, this will solve some emergency needs for funds for holders of DBA instead of selling the tokens, also you can stake your DBA and be rewarded in DBA or BNB tokens as well as utilize the farming pool to farm DBA..DBA will be known all over the world as a top utility token with only a total supply of 100million tokens with a circulating supply of 10m while the rest is locked up for over five years period
QUESTION 4:
Let’s talk about the benefits for investors. What can investors expect when investing in your token?
GUEST:
DBA is currently selling in CMC and LBANK at healthy prices of between $14 to $20. We have a deflationary system in our smart contract that reduces the token supply for every transaction done in DEX meaning over time our total supply of 100m will be drastically reduced making the token very scarce, right now, over 5m tokens have been sent to black hole due to transfers to CEX and other purchases in DEX. We anticipate that in five years, DBA total supply may reduce to like 50%. What this means is that in five years, the token may be worth $20 x 50 = $1.000, there is a lot of use cases to drive the price of this token and sustain it over time and it can easily do 100x in one year of launch
Any early investor today of $1000, stand the high chance of multiplying their wealth through buying and holding this token in the long run but they should also do their research to confirm these facts stated today like the 2% tax on transactions, offshore banking license, centralized platform, e-commerce and Defi that will drive this token
QUESTION 5:
Please explain what makes your project different so that investors can move forward and invest in your project?
GUEST:
Our project is revolutionary and already has fully functional use cases, not Proforma models. It is an integrated Financial hub that tries to bridge the gap between CEX and DEX as well as utilizes peer-to-peer payment agents to reduce Govt regulations and restrictions. We also utilized our own funds in completing most of these revolutionary projects before doing our ICO. Now, we are running IEO or Launchpad with some exchanges like ProBit and marketing campaigns with top exchanges like LBANK to spread the gospel and create the desired awareness. Every investor in our IEO has their tokens locked up permanently for 33 months as an anti-dumping strategy and no single investor has over 10% holding at a time hence reducing the impact of whales and paper hands that can crash the token price. This is one of the best-structured tokens
Selected five Questions with Answers from the Telegram community (Second Part):
@Munhm
QUESTION 1:
How can I buy these tokens? Is it available on any exchange?
GUEST:
You can buy our DBA/USDT pair on LBANK, HOtBit, Pancakeswap, our own DafriXchange.com right now.,
Other exchanges are running Launchpad now at discounted rates like ProBit, P2PB2B, Latoken so you can get these tokens there at a discounted rate
We are also finalizing talks to list with other major exchanges
@Nirmal30192563
QUESTION 2:
Hello sir
Token burn is important to increase value and price a token? do u have to buy back or maybe a burn system and how does it work?
GUEST:
We have a 2% tax on every transaction used to reduce the token supply and send this to a black hole. 1% goes to the black hole while 1% goes to liquidity
@Faruk576
QUESTION 3:
Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
GUEST:
A total of 100m tokens was minted but due to the deflation, we only have 95.6m tokens maximum supply now.
The distribution / tokenomics is:
10m for exchange listing — currently released
10m for marketing and promo
10m reserved for the bank and locked up for 10 years
70m for ICO and Launchpad out of which 40m was sold to early investors and locked up for 33 months.
@Munhm
QUESTION 4:
What are the steps to become a part of your community, and start getting revenues? Where do we buy, where do we sign up? This looks like an amazing project!
GUEST:
You can join our telegram group on :
The rest 30m we allocated for expansion and VC partnerships (still locked)
@Dat002
QUESTION 5:
Where can I buy your tokens now, what are your current contracts and how can I buy them and what are the benefits?
GUEST:
Our contract is deployed on Binance Smart Chain (BSC) due to the low gas fees, 2% tax on transactions and anti Bot capabilities in the smart contract that makes it more scalable compared to the initially planned ERC20
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