Friday, 20 August 2021, 23:00 HKT/SGT

HONG KONG, Aug 20, 2021 - (ACN Newswire) - DragonBite, a company developing rewards point technology for the blockchain, is thrilled to announce the launch of its web app, a platform designed for people to buy vouchers from renowned brands including Amazon, Adidas and Starbucks while distributing crypto currencies as rewards to its top purchasers.

The start-up which recently completed its IDO on Uniswap is on its way to release a Dapp in Q4 allowing users to convert their rewards points into cryptocurrencies via a utility token called BITE.

DragonBite's webapp is an intermediary step that aims to attract non native crypto shoppers to experience digital assets. With a user-friendly interface, this webapp connects users to their google accounts and lets them purchase vouchers by credit card. The highest buyers will receive $BITE as rewards from 10% of profits made by the sales.

BITE is DragonBite's native token, an ERC-20 token and can be stored in several wallets including Metamask. The token can be traded against USDT and ETH, bought and sold on Uniswap or BitMart. Its price depends on the demand and supply so the remaining profit from the voucher sales will be transferred in a vault and used to buy back $BITE from crypto holders or burn them, a common practice for project owners who tend to avoid using market makers and want to maintain the sustainability of their token over time.

"By rewarding our top vouchers purchasers in BITE, we believe DragonBite has the potential to make its token appealing to an audience of non-crypto users and therefore, enhance its utility which over time, should boost demand and value," says Mickael Costache, CEO of DragonBite.

DragonBite's webapp which is live today, can be accessed at https://webapp.dragonbite.io/ and is a pilot program for the Hong Kong market. It will act as a functional test before global launch of the system on the blockchain.

The firm aims to extend the sales of vouchers to the rest of APAC in the coming weeks, followed by India, the Middle East, the United States and Europe. Each region will launch with vouchers localized to support pertinent merchant networks.

As a prelude to the Dapp, DragonBite is confident its web app will allow more consumers to become comfortable interacting with crypto. "People purchasing vouchers are often subscribing to loyalty programs so we think this strategy will bring more people to the blockchain over time and encourage them to start experiencing the benefits crypto offers before we launch our Dapp, says Elvan Yau, COO of DragonBite.

The DragonBite team will release a series of tutorials in the days to come to guide the web app users and show them how to claim their tokens, open a crypto wallet and get setup on the blockchain.

About DragonBite

DragonBite is a decentralized ecosystem that puts the power of the cryptocurrency market into the hands of its users. DragonBite offers various products and services, catering to almost every aspect of the cryptocurrency economy, including a digital wallet, a cryptocurrency exchange, loyalty redemption points, discounts/purchases with crypto, and more. Using the DragonBite application, users gain access to every feature they could need within the cryptocurrency market.

Social links
Twitter: https://twitter.com/DragonBiteDB
Telegram: https://t.me/DragonBite
LinkedIn: https://www.linkedin.com/company/dragonbite/

Media Contact
Company: DragonBite
Contact: Mickael Costache
Email: info@dragonbite.asia
Website: https://www.dragonbite.asia

SOURCE: DragonBite

Topic: Press release summary
Source: DragonBite

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From the Asia Corporate News Network