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Black Dragon AMA With BeInCrypto

12 mins
Updated by Ryan Smith
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BeInCrypto held an AMA with Black Dragon in our public Telegram channel on October 9. BlackDragon is a blockchain native venture capital firm with dedicated in-house marketing, development, and research teams. We support the projects we invest in by providing them assistance with marketing, community growth, and advisory, along with access to our vast industry network and resources. BlackDragon has strong community support fortified by an amazing fundraising platform and in-house research which gives our members access to early-stage deals in highly vetted projects. Our vision is to empower the development of innovative blockchain solutions to real-world problems while adding value to the entire ecosystem. Full details on the project can be found here You can access token sale information here – and This AMA has been edited for clarity. BIC Welcome to our Be In Crypto AMA. Today we have Dom and Vuksa from Black Dragon joining us! BIC Gents, it’s our pleasure to have you here today! Before we get into Black Dragon and how it differs from what seems like the hundreds of DAO projects released or releasing over the last and next little while, how about you give me some history on your background in both crypto and VC so we have a little bit of context? BIC One moment while I add him add Admin Dom Hi everyone! Thank you for having us, great to be here! ✋ BIC Vuksa is also here with us today Vuksa Hello there! Vuksa Glad to be here with you! Dom Our core team has been part of the crypto space since 2015. Since then we have concluded various investments, starting from the very first ICO projects, early ETH release and listing, and long night shifts devoted to researching the industry and the participants in this ecosystem. We outlived both market hype and market crash, and learned from it! BD community story started approximately 3 years ago when we noticed an amazing investment opportunity on the market. During the crypto hype, the rapid growth of people who wanted to invest in crypto projects led us to some new issues that were unfamiliar for most of the community members. In a few simple words – everybody wanted to invest part of their earnings and assets in crypto, however, most of them did not have a clue how to do it. This is the part when BlackDragon came in – the rest is history. 🙂 BIC Thank you for the intro, Dom! Could you also give us some background on some of the team members who aren’t joining us today? Dom Sure. Our team has a strong background in top tier international financial institutions, mainly banks and insurance companies. In terms of experience, all of us have 10+ years of traditional business background and on average 4 years of active work in the crypto world. As mentioned before we have been part of the game since 2015, and I bet all of us can proudly say that we went through ups and downs, different types of market, hypes and we are still here looking forward to having an even more significant role in crypto space. Dom In addition, we need to mention our dedicated research team that consists of few crypto veterans from all around the world (USA, Europe) who invest their experience, time, and energy to always be on time with new opportunities and high-quality research reports and one-pagers with the aim to achieve and deliver competitive advantage and alpha returns to the BlackDragon community. BIC Amazing. Thanks for letting us know about the whole team background. With that out of the way, let’s start with what Black Dragon is… What’s your elevator pitch on Black Dragon and why the DAO world needs yet another tokenized community? Vuksa BlackDragon is basically a blockchain native venture capital firm with a dedicated in-house marketing, development, and research team devoted to our community members. We support the projects we invest in by providing them assistance with marketing, community growth, and advisory, along with access to our vast industry network and resources. Our vision is to empower the development of innovative blockchain solutions to real world problems while adding value to the entire ecosystem. Vuksa We try not to compare us with similar projects but to focus on real-life delivery according to our roadmap. Building a fundraising platform is a very complex project, with the goal to balance supply and demand sides in a professional environment, so that the digital currency and token ecosystem can actually exist. We are at the stage where we need the right tools to develop even more and build a digital VC 2.0. Vuksa It’s a fact that this kind of business model is not nearly consolidated at the moment. There is a lot of potential on the market and nobody managed or even tried to solve yet all the issues born from the current investing process on a professional level. We are here to change that! BIC So for context, let’s talk about one of your DAO competitors in the space, most notably “Karma”. What makes Black Dragon different from this community and what’s the value proposition for a crypto investor to be on Black Dragon over them? Dom Karma is a very interesting project – I see it as a good solution for the usual real-life problems in social interactions that end up with some kind of deal-making. Probably every possible group in any kind of social media needs some kind of filtering solution because of rapid growth. There is a proper place on the market for projects like this, however, I don’t see it as our real competition. We are exclusively focused on dealmaking, providing quality research, and delivering well-designed products with amazing user experience to our community.  I guess that all of us agree that the current level of user experience in crypto space in terms of Average Joe is on a pretty low level. It’s a problem and a huge opportunity at the same time, as we can build various tools and incubate different projects that will solve those problems. Having in mind that most crypto investments are still done on some sort of social platforms such as Telegram and Discord, we are looking to change that and make crypto investing and research as easy as buying a cup of coffee in the morning and reading a newspaper. BIC That’s a great proposal, since we got into crypto investments I believe that’s the best way to go from here. It’s a topic that everyone is interested in, this is crypto after all. Let’s break down the various interactions a token holder can have within the token as part of the Black Dragon DAO. Firstly Acess Levels. What can the token holder expect on each Level? Vuksa Users gain access to deals by acquiring BD tokens and registering to the fundraising platform which is scheduled to go live in December. The user’s level of access to deals depends on the number of BD tokens hodled per the table below. What is important to note is that everyone gets a pro-rata share of total deal allocation based on the number of tokens they hold versus circulating supply. BIC Interesting, we’ll get on that pro-rata share in a moment, I’m very curious about it. This takes us to the net question before getting deeper into it. What’s BD Token Utility? Vuksa The BD token is the backbone of our community-based fundraising platform. It’s primarily used to ensure our community receives fair access to our allocations. BD tokens grant access to our fundraising platform providing an exceptional user experience with no gas wars. Through the platform, we provide our users with a fair pro-rata allocation model, which is based on the percentage of tokens staked. BD tokens also guarantee priority access to our in-house research lab where you will find research reports and one-pagers designed to provide a competitive advantage. To summarise. BIC One-Pagers – The best friend of the crypto investor. It’s really better than trying to collect info out of 90 pages of whitepapers! So, In order to participate in those deals, I believe there is a staking system that works around the token. How does BD token staking work? Dom Once the BD Platform goes live, users will have a simple journey in front of them. They will log in to BD Fundraising app and connect it to their wallet where BD tokens are stored. This action will enable them to see and participate in all active BD deals. A maximum personal contribution for each deal is defined by the pro-rata allocation system based on the number of tokens you own provided they are stored in a connected wallet. BIC The pro-rata allocation is very present in the project. Can you explain a pro-rata allocation system for our community? Dom That’s a great question we already have in the Q&A section on our web, so I’ll just paste it here: Our pro-rata based system guarantees the right to an allocation in each deal proportional to the amount of BD tokens you are holding versus circulating supply. For example, if the circulating supply is 1,000,000 tokens, and you are holding 10,000 BD tokens, you have a personal cap of 10,000/1,000,000 = 1% of the total deal allocation. If the deal allocation is $250,000, this would mean that your maximum personal contribution is $2,500 for that deal. Once you contribute to the deal, your BD tokens will get locked and will unlock once the tokens from the deal you contributed to are delivered. In the case of multiple deals, your BD tokens will unlock partially until the TGE of all the deals you contributed to is completed. Your maximum personal cap for each deal will always be based on the number of BD tokens held in a connected wallet, and will not be affected by locking your tokens in a particular deal. BIC Amazing! I believe it will work very well with your fundraising platform, as soon as it’s launched. How will BD tokens be used to get access to deals before the fundraising platform is live? Vuksa Good question. 👍 We will do our best to implement a semi-automatic system using the Discord and some external wallets integration as soon as possible. This will be a temporary solution until BD Platform development is done which we expect to achieve by December 2020. BIC We’re talking about deals, so I believe the next question is needed. What’s the current portfolio of deals of Black Dragon? Vuksa Some of the more popular projects lately that we backed include Mantra DAO, Persistance, Near, ACDX, Frax, Ramp, Rio DeFi, Flux, Razor Network, and Finance Vote. BIC I can see a lot of DeFi projects on the list! I have one final question before we get to the community questions and reopen the chat. I can’t handle myself…but I have to ask. 🙈 What’s the most profitable deal you had so far? Vuksa 😄 Dom I’ll take that one. 🙂  If I can pick two it would be Ampleforth which did more than 300x and Thorchain which did something around 50-60x. BIC OMG AMPL…the most hyped coin in the past months! Ok, everyone, I’ll now open the chat for questions. We already have some up there that people asked before we start. We will set a lock of 15 minutes per user, so we don’t flood the channel. There will be a lot of questions so you won’t need to answer them all, especially any inappropriate ones! The team will also answer more questions after the AMA is over, we will publish on our website AMA article, so be sure to go there if your question doesn’t get answered here. BIC CHAT IS BACK. Now Dom and Vuksa you can start by answering some of the questions the community-made before the AMA. Please reply to those questions so we can keep track of it. Community Hey everyone, here are my questions to the team: 1) In fact you have an interesting business model regarding the usage of BD tokens but could you tell us in practice what do you mean by ‘basic’ or ‘highly-sensitive’ accesses? Maybe by using a fictional example of a project? I think it’s really important for everyone to know exactly what each user would get from these different ‘levels’ due to the investment that is needed. 2) Plus, let’s say I have Basic access to the platform and my friend gets access to the most sensitive deals. Would we receive data from the same projects (but obviously in different degrees) or will I receive info from ‘less profitable’ projects while my friend gets data from top ones? (Since he owns way more BD tokens than me in this example) Dom Simply, level access usually depends on the team behind the projects we are entering and whether they are looking for a wide or narrow distribution of their tokens. Community Thanks for the AMA @blackdragon, @terranov4 @Ichi_MokuM  I’ve gone through the project and I’ve got two questions:
  1. What basis do you use in classifying your deals with regards to how sensitive they are
  2. Is there a fixed % of each deal fee which will be used to buy back BD tokens for the token burn?
Thanks Dom The first question is replied in my last answer. As for the second, we haven’t decided or fixed the percentage yet. We are focused on building the platform now and by the time the platform is ready, we will have enough market data to decide on the percentage needed to best support the token. Community Its indeed a nice project going through there page. But, I’ve got some questions. 
  1. In your opinion, what do you think will be its growth Potential/Adoption and Supply in 3-5 years to come?
  2. Do they have any institutional backing and media recognition?
Dom All good questions. 
  1. We expect that in 3-5 years there will be many new profit opportunities, and with that adoption of our platform. By then we believe we will have a full token supply on the market.
  2. In fact, no – we did not want to go that way. Our goal was to secure backing from our community and reward them for their loyalty.
Community Who is responsible for selecting the project where Black Dragon is investing? Can people vote according to the numbers of tokens they own or do you have a special team that decides which projects have to be funded? Vuksa Every BD token holder decides for himself in which projects that we present they want to invest. We will usually present projects that went through due diligence and were bullet-proofed in our research lab. However, every BD token holder will be welcomed and encouraged to suggest the projects for our research lab and hence for the potential deal. Community My question and it’s a simple one for the team. Why the need for a token if you are a marketing/community-building platform? Dom We are not really a marketing and community-building platform. Marketing and community build-up are just a few of many things we do as the added value we can provide to the projects.  BD token is really the backbone of our community-based fundraising platform. It’s primarily used to ensure our community receives fair access to our allocations. Through the platform, we provide our users with a fair pro-rata allocation model, which is based on the percentage of tokens staked. The decentralized approach would not be possible without the token. Community Three from me: 
  1. What sort of community are they hoping to build as a community project? 
  2. II) The incentives are clear for whales taking part – 10,000 BD tokens / 10K = top tier access. What about those only able to contribute less? What do they get? What does basic access mean for those contributing 250 – 1000 USDT? 
  3. III) any plans to decentralize the organization? True DAO style. Voting rights – collective governance
Dom Actually, that’s the beauty of our pro-rata approach to solving this problem. Everyone gets max individual allocation based on the number of BD tokens they hold. So on a relative basis, you are getting the same rights as every other token holder, regardless of the number of tokens you are holding. Regarding the tiered access, this depends on the teams of the projects we are entering and whether they want to have narrow or wide distribution.  We don’t have such plans for now, as we don’t think it would be a viable solution to the current crypto investing problem. If we ever come to the point where we can do full DAO in a way that makes sense and will further improve usability, we will do it happily. Community What is $BD roadmap for this year 2020? Are there any new partnerships and interesting upcoming use-cases? Vuksa We have new partnerships coming up – currently, it’s confidential so we have to keep it for ourselves until it’s official. 🙂 As for the roadmap, please check the picture above. Community Can you list some great features of $BD that make it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about? Dom No one has this kind of platform solution. What we envisioned just doesn’t exist yet. 🙂 Thank you all for the great questions! It was a pleasure to be here today! And don’t forget, we are listing on Uniswap tomorrow!! 🐉👍 Important message: The Black Dragon Token sale is happening on October 10, 2020, and will be conducted on Uniswap. For more information, feel free to join their channels. Telegram Chat – Twitter: The Black Dragon team is also conducting a giveaway and you can follow the instructions below to participate click on the link below. 🔥


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