AMA

Bridges AMA Transcript

" Make the future of finance work for everyone "

Stephanie (BSC.News)

Hello everyone and welcome to the AMA with Bridges! Today we have @danbridges joining us to talk about their exciting new project. Great to have you here :)

DannyBridges

Hey Stephanie, thank you.

Glad to be here in your community ☺️

Stephanie (BSC.News)

Pleasure to have you today! Alright! Without further due, we will jump right into the questions. Sounds good with you?

DannyBridges

Yes sure, let's jump into it!

Stephanie (BSC.News)

Great, so to kick things off, for those who may be unfamiliar...

1. Please introduce yourself and the team behind Bridges.

DannyBridges

I’m Danny, and I am the CEO of Bridges. I am fully doxxed – you can find my doxxing video on YouTube. I have more of a technical background, and Bridges started going around my mind last summer because of the amount of scams in the DeFi space. I put together the initial, small core team and we started building the project.

Today Bridges is made up of over 20 people, including an expanded core team with backgrounds in FinTech, InsureTech, non-profits, and multiple entrepreneurial backgrounds. We also have a stellar engineering team that is building our digital products as well as a team of moderators that have been supporting our community since Day 1.

Stephanie (BSC.News)

Well awesome! Sounds like you guys have a great team so let's talk about the project itself

2. What is Bridges and what’s the vision and mission of your team?

DannyBridges

Thank you ☺️ Bridges is meant to push DeFi forward. Everyone in the space talks about mass adoption everyday, but in our opinion this won’t happen while people are scared of DeFi. The last data I came across shows that 3% of the worldwide population has adopted crypto. If we remove Bitcoin and the big ALT coins, then these numbers are way lower in DeFi. As long as we have thousands of projects coming out everyday with no use cases, scams of every kind and shape, and people are scared of joining the space, we will never reach a critical mass of adoption. Bridges is here to bring together good projects and investors in the same place. Our mission is to give investors peace of mind, provide a place for safe & innovative projects to reach new audiences, and to use our network to collaborate and grow mutually with other projects.

As for our overall vision, we want to bring the future of finance to everyone in an equitable way. This includes investors, project developers, liquidity providers, and DeFi participants of all backgrounds.

Stephanie (BSC.News)

Okay neat, so to dive even deeper into that

3. Please tell us about Bridges exchange

DannyBridges

Bridges is a unique and innovative semi-decentralized exchange. In order to tackle the problem of scams and copies of existing projects in DeFi, we introduced a vetting procedure for projects that want to list with us that takes into account both safety and innovation. We recently announced a partnership with Guardian Audits who will help us to ensure that new projects have safe token contracts, and they’re even offering a 20% discount and free KYC to the projects that list with us.

Besides this, Bridges Exchange has some key differentiators with respect to the earnings possibilities you have in the Bridges ecosystem. While existing DEXs mostly focus on rewarding liquidity providers and themselves, our built-in dividends system rewards every Bridge$ token holder. We don’t take any fees directly off the top for ourselves, and we can therefore give more to liquidity providers, who will earn 0.2% on all transactions.

It gets even better. Those who farm will not only earn our native token, Bridge$, but they will also receive the dividends from those tokens thereby unlocking compound interest that is unseen in any other DEX. Additionally, developers usually have to pay fees to lock their liquidity, and then they can’t do anything with those locked LP tokens. With Bridges, we provide a liquidity locker free of cost. Any liquidity locked on Bridges Exchange can also be staked in a farm.

Stephanie (BSC.News)

Amazing!  so let's talk about your token

4. Can you tell us more about $BRIDGES token?

a. Utility

b. Tokenomics

DannyBridges

Sure. Bridge$ is a dividend-paying token offering the choice to have your dividends paid out in BUSD, BTCB, or ETH with plans to expand the list in the future. The token has a stable total supply of 100 million tokens. As of now, 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 to holders as dividends. After the DEX launches, the tax protocol will be changed to only 2% for liquidity feeding, while Bridge$ holders will benefit from the dividends coming from the whole DEX volume—Bridge$ included. The long term goal is to completely remove the token’s tax protocol when the liquidity is stable enough.

Bridge$ is the backbone of our ecosystem. Another key differentiator compared to other decentralized exchanges is our limited supply. Other platforms fuel their ecosystem by minting new native tokens, thereby increasing selling pressure and supply while diluting the price. At Bridges, the built-in dividends will encourage holders not to sell, and we will use part of the revenues to buy back our tokens to fuel the ecosystem therefore increasing the value over time.

Stephanie (BSC.News)

Okay nice! Thanks for that clarification

5. What are the benefits and advantages of using Bridges?

DannyBridges

As we’ve already discussed, Bridges places an emphasis on safety and innovation in projects. When you use other platforms, you never know if you’re going to get rugged. Bridges gives you the peace of mind that the tokens you’re holding are safe. By focusing on safety, we can build trust with holders and make way for projects to shine based on the merit of their ideas. You can do DD on a project idea rather than first having to figure out if the project is even a safe place to put your money.

If you’re completely new to the space, you’ll be able to benefit from Bridges’ approachable UI and the extensive documentation that we’re building out right now. We want to make it as easy and comfortable as possible for people to jump into the space. Even if you’ve been in DeFi for a while, we think you’ll be able to learn something new from our upcoming knowledgebase.

The other major benefit here is the different ways that you can earn through the token and DEX. We always say that passive income isn’t the goal, but it’s a positive side effect of building a great product that people will be able to trust whether they’ve been in DeFi for years or they’re brand new to the space.

Stephanie (BSC.News)

Brilliant, thank you! Lots to look forward to

6. What are the ways to earn $BRIDGES?

DannyBridges

Through our ecosystem there will be several different ways of earning more Bridge$. The most common one is through the farms, providing liquidity to the platform. All farms will pay out Bridge$ tokens which you’ll be able to claim in the farm page or in the Dashboard. Our holders are already familiar with the Dashboard on our website, but it will be expanded to include a few more elements and give you an overview on your earnings from different income streams.

Since we want to reward every stakeholder bringing value to the ecosystem, there will be additional ways to earn Bridge$. Some—yet to be disclosed—will be announced very close to the DEX release date.

Stephanie (BSC.News)

Great! We'll look forward to it.  Although you stressed the importance of security in previous questions,

7. Is your platform audited or has another safeguard layer in security? How can you ensure users that your platform is safe to use?

DannyBridges

We take security very seriously. Besides the security aspect coming from our vetting procedure, the platform itself will follow security standards in order to make it safe. Our DEX will be fully audited by our security partner, Guardian Audits, before it will go live. Additionally, we are checking for any weaknesses in the contract during the beta testing phase. A third thing we have done is to also build in some neat tricks that protect new tokens from sniper bots, which will make launches more secure as well.

That being said, security isn’t just about what you do before the launch. Once we are live, we will consistently monitor for phishing websites and communicate them to our community in order to avoid this  and other kinds of scams.

Stephanie (BSC.News)

Are you sharing the audit result once it is out?

DannyBridges

Yes absolutely ☺️ transparency is important for us. Evrything will be publicly accessible.

Stephanie (BSC.News)

Awesome! 😀

8. Where are you on your roadmap? What are your plans to upgrade the $Bridges ecosystem?

DannyBridges

We originally outlined three main phases for our roadmap: token, exchange, and app. We launched our token in November of last year, and we’re now in the second phase. We are currently approaching the last weeks of beta testing for the exchange, and we’re going to launch our DEX before the end of this quarter.

The next focus after the exchange goes live is to make it an established exchange, attracting holders, rolling out projects, and making the listing procedure a well-oiled machine. In parallel, we’ll continue to improve the platform with new features using an iterative approach. This includes adding tools for our launchpad to be used by our projects along with other DeFi products. Of course, the goal is to have very low fees for projects (if any) and to redistribute benefits to every stakeholder as always. We don’t want to say exactly which features are planned and in which order, because DeFi is a rapidly evolving market. Each tool we’ll add has to be in line with what the market demands are and integrated with our ecosystem in order to maximize the revenues for our token holders.

The knowledgebase is another key aspect that we want to push during Q3. We will have one for the exchange launch already, but we want to grow this one place to have as much basic knowledge as possible. The ultimate intention of the knowledgebase is to provide everyone with tips and tricks on how DeFi fundamentally works, how to do research on a project, how to keep their funds safe, how to avoid scams, and so on. While in the short term our audience will be mainly made of crypto-savvy people, in the long term we want to reach new audiences. As new people dip their toes into the space we must provide them the knowledge required to approach the space safely and confidently.

In the third phase of the roadmap, we want to pack the whole ecosystem into one app, allowing our users to have a one-stop shop for DeFi, rather than jumping around several different platforms and having to figure out a lot of complicated steps as they have to do now.

Stephanie (BSC.News)

Sounds good! Last but not least

9. Any exciting news you would like to announce here today?

DannyBridges

We don’t have anything new to share just yet, that is not already publicly available. We included two other unique features in our ecosystem that will be present at launch day that are yet to be disclosed with our community.

We are planning to announce the first one next week, and the other one will be announced very close to the release date.

So what else to say, just be sure to follow our socials and join our community to stay up to date with what we are building, and what is coming next at Bridges.

Stephanie (BSC.News)

Would you be able to provide us with social media links so that our community could follow?

DannyBridges

Sure, We’d be glad to have you join our communities and get in touch with us.

Discord:

Telegram:

Twitter:

You can find Bridges in even more places here:  

And of course, don’t forget to check out our website at where you can find many other info as well.

Stephanie (BSC.News)

Great! Make sure that you guys go and check out Bridges! Their platform offers you exposure to the best projects on BSC all while rewarding you for using their innovative ecosystem!

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