DREP Community AMA Recap

Dear DREP Community,

We deeply appreciate your presence and engagement during our recent Ask Me Anything (AMA) session on March 28, 2024.

Throughout today’s session, we made every effort to respond candidly to the questions posed by our community. Here are the key takeaways from our discussion:

• Burn Program: The burn program, which will involve 22,593,750 $DREP tokens, is scheduled to occur before April 3rd, and coincides with $DREP’s delisting from Binance.
• Community Participation: We sincerely invite all community members to actively participate in shaping our future initiatives. This includes crucial decisions regarding upcoming airdrops and memecoin projects.

Despite facing unforeseen obstacles, we perceive this moment as an opportunity for introspection, recalibration, and eventual resilience.

Below, you’ll find a recap for your reference and records:

Part 1 — Questions from Google Form

1. About burn program

Q: When will you burn the 22% of DREP token? (From @Ai_qube_fr)

Q: When is the burn? (From @Sarya)

Q: I want burning as soon as possible at least half of all. (From @Mfd1982)

A: First and foremost, it is with sincere regret and a heavy heart that we announce the imminent burn program for $DREP tokens, slated to occur before the delisting of $DREP from Binance, 3rd April 2024.

Further details of this solemn decision are as follows:

1. A total of 22,593,750 $DREP tokens, representing approximately 23% of the token supply, will be subject to burning.

2. These tokens earmarked for burning will be deducted from the team’s treasury, serving as a humble gesture of apology to our community.

The rationale behind this action is rooted in our earnest desire to rectify the situation and mitigate any further distress caused. Token burning, in essence, is a strategy aimed at reducing the circulating supply of tokens, thereby potentially bolstering their value. We recognize that the losses suffered by investors are indeed irreversible, and no words or actions can fully assuage the resulting pain.

Nevertheless, we embark upon this deflationary measure with the hope that it may offer some solace to those affected and inject renewed vitality into the market. Our sincerest apologies go out to all those impacted, and we remain committed to fostering a healthier and more resilient ecosystem moving forward.

2 . About the airdrop

Q: More airdrops (From anonymous user)

Q: Do lookfor nft holders also have Drep airdrops? My drep has been pledged (From cross wong)

A: We deeply regret the circumstances surrounding our delisting from Binance, and it has profoundly underscored the importance of prioritizing our community above all else. In light of this, we extend a sincere invitation to every member of our community to actively participate in the decision-making process regarding the potential launch of an airdrop program for DREP.

It is crucial to acknowledge the significant implications that an airdrop can have on the price and stability of our token. While there are potential benefits such as increased liquidity and strengthened community engagement, there are also inherent risks including market saturation and heightened token price volatility. We recognize the gravity of these considerations and approach this decision with the utmost care and diligence.

Tomorrow, we will be circulating a Google Form to gather input from all $DREP holders. We urge each of you to share your perspectives and suggestions on various scenarios, including the timing of an airdrop, as well as considerations regarding equitable distribution among token holders and LookFor Gem holders.

One potential option would be a vote among $DREP holders, whereby participation entails staking for the exchange of your preference for the potential listing of DREP. Upon the eventual listing of $DREP on the chosen exchange,

● you will receive airdrop tokens commensurate with your staked amount as a proportion of the overall tokens staked for the exchange voting process

● the exchange listing $DREP will also receive $DREP tokens for payment as well as for marketing

Your insights are invaluable to us, and we humbly request your active participation in shaping the path forward. Please do not hesitate to share your thoughts and concerns with us; your input will guide us in making decisions that best serve the interests of our community.

3. About the exchanges

Q: What other exchanges list DREP? (From anonymous user)

Q: As binance is soon delisting DREP where can we move our tokens where else it is listed (From @Khalidzaheen)

Q: My DREP coin in Coin Dcx exchange and now they are also going to delist. What do or which exchange I can shift my DREP (From @dipak_1981)

A: We humbly request that you kindly transfer your $DREP tokens to exchanges where $DREP is presently being traded, such as Gate.io, before April 3rd. Regrettably, we understand this may inconvenience you, and for that, we sincerely apologize. Concurrently, the team is diligently engaging with other exchanges to facilitate the listing of our tokens.

4. Why delist?

Q: What are you doing in actuality regarding the delisting of drep from Binance? (From @darkheartzee)

Q: Kenapa drep delisting di binance, lalu langkah apa yang bapak lakukan agar tidam di delisting dari binance? (Why was Drep delisted on Binance, then what steps did you take to avoid being delisted from Binance?) (From @Malikqin1)

A: The DREP team has maintained consistent and active communication with Binance. Throughout our journey, we have poured relentless efforts and unwavering dedication into the development of our product, achieving significant milestones such as our LookFor Gem NFT collection, LookFor NFT Marketplace Aggregator, DREP Chain testnet launch, DREP Credit upgrade, and more. Our team has spared no effort, striving for excellence in every facet of our project. On the marketing front, we have actively collaborated with promising projects whose visions and missions align with ours, spanning areas such as AI, GameFi, NFT platforms, and beyond. Furthermore, to bolster community engagement and attract more users, we have initiated a series of events featuring token incentives, all detailed on our social media platforms.

The delisting of $DREP from Binance undoubtedly comes as a surprise to our community, and it is equally unexpected for us. While we are taken aback by this decision, we hold utmost respect for Binance’s judgment. We acknowledge the dynamic nature of the crypto industry and the imperative for exchanges to adapt and uphold their listing standards. Despite this unforeseen setback, we remain resolute in our commitment to the mission and vision of DREP. We perceive this development as an opportunity to reflect, recalibrate, and emerge even stronger.

Q: Is there any possibility of contacting Binance again and delisting? (From anonymous user)

Q: Drep Coin yakımı ve AirDrop planınızı Binance ile paylaşıp tekrardan Binance borsasında listelenmesi sağlamak istermisiniz (Would you like to share your Drep Coin burning and AirDrop plan with Binance and get it listed on the Binance exchange again?) (From anonymous user)

A: We deeply regret to inform you that while we are in ongoing communication with Binance regarding listing matters, we must emphasize that they maintain the ultimate authority in making decisions concerning listings.

5. About DREP’s future plan

Q: Will you modify your roadmap after delisting from binance? (From @Ai_qube_fr)

A: The current roadmap will undergo revisions as soon as the community has had the opportunity to suggest and vote on our future direction, including initiatives such as the airdrop and meme coin projects.

6. Other questions

Q: Are you abandoning everyone? are you ponzi? are u real? (From @jimmyalampag)

A: DREP wishes to extend sincere apologies for any concerns or apprehensions that may have arisen. We wish to emphasize that DREP remains steadfast in its commitment to our community, and our existence is undeniable. Our journey traces back to 2018, marking a significant chapter in our history. While recent events may be perceived as setbacks, we acknowledge the gravity of the situation. Rest assured, we are diligently working to overcome these obstacles. In our resolve, we are exploring avenues to enhance token utilities, aiming to amplify the advantages for our esteemed holders.

Q: Why did circulation supply increase from 48 to 57M all in a sudden? (From @Crypto_obsessed)

A: The increase in circulating supply stems from our recent submission to coinmarketcap.com. This submission was made to accurately reflect the increase in circulation, which arose from the unlocking of tokens designated for marketing and liquidity provision purposes. We sincerely apologize for any inconvenience or confusion this may have caused.

Q: The price of drep been swamping due to many causes drastically, why is the team not and has not been aware of investors suggestions and complaints on telegram? (From @Crypto_obsessed)

A: We deeply empathize with your frustration and distress. The DREP team is diligently dedicated to advancing product development in pursuit of sustainable growth within our community. While we may not be able to implement every suggestion you offer, please know that we hold each one in high regard and carefully consider them all. As we progress, the counsel provided by our community will hold even greater significance, and we sincerely desire your involvement in the decision-making process of DREP.

Q: I would want to understand CoinDCX recently delisted DREP due to xyz reasons. What are the chances that you guys will hit back again and go for bull run so that we can trust to buy in more if there is an option in future. (From @mohitpurandare)

A: Regrettably, we have not been provided with any elucidation by CoinDCX regarding their decision. Nonetheless, our paramount concern at this juncture is to uphold steadfast relationships with all exchanges and ensure the uninterrupted accessibility of DREP for our valued community. While I cannot offer assurances regarding specific outcomes, please rest assured that our team is ardently laboring to explore every avenue and seize all conceivable opportunities. We are unwavering in our commitment to generate value for our esteemed token holders and foster sustainable advancement for our project.

Regarding the prospect of a bullish market surge, it is essential to acknowledge that market dynamics are subject to multifarious influences, encompassing project advancements, prevailing market sentiments, and overarching trends within the cryptocurrency sphere.

Q: Why did you announce the idea of issuing and airdropping meme coins?

A: We would like to extend my sincerest apologies for the confusion and concern that the announcement regarding the issuance of meme coins may have caused. It was never our intention to create uncertainty or apprehension within our community.

The idea of issuing meme coins was announced in a moment of enthusiasm and exploration, aiming to explore new avenues and engage with emerging trends. As for the implementation of this plan, the team understands the importance of clarity and transparency. At this juncture, we must convey that the idea of issuing meme coins is still in the conceptual stage. A key concern is the price performance of the meme coin — without the community’s full support behind the meme coin project, it will be a wasted effort that may disappoint the community.

We are in the process of carefully evaluating the feasibility and implications of such a venture. Rest assured, any decision regarding its implementation will be made with thorough consideration of the potential impacts and benefits.

Part 2 — Live Questions

Q: With the burning and airdrop of large amount tokens, how will it be sustainable (i.e income) for the team to continue with the developments!

A: Thank you for highlighting this. Not many within the community would understand this and you have rightly pointed out the potential opportunity costs and consequences of a large burn and air-drop.

We will explore all avenues and do whatever feasible within means to chart a path forward. Some of the previously announcement product developments would have to be changed as we include new options selected by the community.

The burning and airdrop of tokens are strategic decisions aimed at enhancing the ecosystem and rewarding our community. Our team remains committed to prudent resource allocation and continuous development efforts. We leverage various revenue streams, partnerships, and funding mechanisms to support ongoing project growth and innovation.

Q: Will the airdrop and the new meme coin be launched before 3rd of April or after that date please ?

A: We are going to set the date of airdrop with the community together. Post-AMA we will send out Google Form to gather your valuable advice. Please do share your thoughts about these two projects at that time!

Q: When burn and air drop meme coin?

A: Tomorrow, we’ll be distributing a Google Form to collect input from all $DREP holders. We encourage each of you to contribute your perspectives and suggestions on several scenarios, including the timing of an airdrop, as well as considerations regarding equitable distribution among token holders and LookFor Gem holders.

Q: When you don’t have any project in pipeline why did you announced or created hype that we will announce new something in starting April and asked us to guess the project ? does it clear manipulation ?

A: Sorry for any misunderstanding it may cause. This was part of the publicity to for the community to be familiar with our roadmap of upcoming product developments. Ineed we launched riddle game to engage with the community and give out token incentives, but we are as excited as the community for the future development we can achieve at that moment. There’s no manipulation involved.