Community Questions
Recap from 02/03/2023 in the Bridge Telegram
Q1.) In light of the recent transition at Bridge, do you have any plans to shift your focus into new product development areas or repurpose Bridge Network with your own ideas?
Yes, so bridge as a team has focused a lot on innovation and providing great tools for the DeFi market and we have always ensured we develop highly need product for the market. We are about to roll out the NFT Bridge and the Bridge Pay app, we also have a lot of great tools we are also planning to add to our road map and also a possible rebrand of the entire project. But for now our focus is on completing the NFT Bridge and also launching the Bridge pay App all in 2023.
Q2.) What are the plans going forward to launch BRDG on new exchanges to bring in more investors?
Regarding launching BRDG on new exchanges, we currently have an open line of communication with some tier 1 exchanges on the possibilities of launching the BRDG tokens there, we have had some positive feedback from a few. The current bear market condition is currently what is slowing things, but soon enough BRDG would be launched on some tier 1 exchanges with some trading events also in plan on the current exchange too.
Q3.) How do you plan on improving the token utility from its current position?
Yes, nice question there, so at the end of last year the token bridge had a major upgrade to incentivize BRDG token holders, basically what this means is that as from tomorrow a new feature on the token bridge would be activated where BRDG holders can bridge with a 50–100% discount on bridging fee depending on the BRDG tokens the hold. Also the NFT bridge lunch and the bridge pay app would also come with great utility for the BRDG token. Also the token burn would start taking place as we plan to burn 50% of the entire BRDG supply in two years.
Q4.) What are the current standings of the products on the previous roadmap and when should we expect these to come to market?
So all these are still on the road map, even though there was a delay in delivery. The NFT Bridge would be up and running in Q2 while in Q3 the Bridge Pay beta would be launched targeting a few countries like Nigeria etc. then in Q4 hopefully after a successful beta of the Bridge Pay more countries would be added. We would also soon be transitioning to a DAO system by the end of Q4.
Q5.) What are your targets for the year and when can we expect a detailed roadmap to be published?
We will release a detailed road map soon, hopefully before the end of the month. This roadmap would detail a two to three years plan.
Q6.) How do you plan to use this 6 month extension for Bridge Pay to improve and strengthen the product?
The card payment system is a very highly regulated space and adding crypto to it makes it very complicated but our strategy is to use this period to overcome most of the regulatory bottlenecks currently existing by partnering with some of the best providers in the space and ensuring our products meet all standards of the regulation.
Q7.) How do you plan on differentiating Bridge Network further to attract the users?
Some of the top selling points for our solution would be focused on the ease of usage, bridge pay has been designed to be very simple to use for even people new to the space. it would be just as if you are using web2, we would abstract the complexity of web3 and make it easy for anyone to use. Additionally, we are focusing on reducing the offboarding cost attached with most of the crypto card solutions out there by making it very cheap to use bridge pay compared to some other solutions. (This is also where the BRDG utility comes into play) as mentioned earlier more details on this will be published as we build it out.
Q8.) How do you plan on regaining investor confidence after holding $brdg since launch?
Firstly, I would like to start by apologizing for the down trend of the $BRDG token which was mostly caused by the general bear market but also due to current lack of utility. I want to reassure our investors that going forward a lot will change starting with the first token utility that will launch on the token bridge tomorrow. Just as I mentioned earlier a 50% burn of the entire BRDG token supply would occur over a period of 2 years. Moreover, as more utility is added to the BRDG token our hope is that it increases the demand for the token thereby rewarding every BRDG token investor/holder out there.
Q9.) What are your strategies to continue growing the Bridge brand?
Our strategy for continuous growth is to build robust products that our users would love to use. We hope to follow the general trend of development in the DeFi and the entire crypto space, thereby developing highly needed tools to make web3 usage seamless for everyone.
Q10.) Where do you see Bridge in 1 year, 3 years or 5 years time under your leadership and vision?
I am very passionate about bridge and have given my 100% to building this product and many more to come. I see Bridge Network as a growing leader in the DEFI space, leading in the development of many futuristic tools that would help propagate Web3 as the next big thing. We hope to be the go to for ease of use in Web3.
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