Dragon (DRG) ICO Review – ICO Token News
Dragon (DRG) ICO Review – ICO Token News
Dragon Inc. will develop and slowly grow the community centered on a digital tokenized ecosystem to accomplish the prime needs of casinos and their gaming players. Initially, they will be focus on junket sector of Macau and some other countries of South East Asia due to the high cash flows on daily basis and frictional financial costs in these places. By targeting the junkets sector, the company wants to provide the platform with committed users and daily transactional cross-platform flows.
All About Dragon
In 2017, Dragon Inc. was established and registered in the British Virgin Islands. They will build the platform named as Dragon and promoted its real-world application. The platform will grow gradually within the international network as well as in Dragon Community of Platform users, gamers, gaming establishments and token holders.
This platform will use the Dragon coin (DRG) which will work like a frictionless, transparent and low-cost alternative of financial mechanism with the casinos. It will play well in enhancing the old aged traditional gaming industry. By utilizing the expertise of blockchain technology, platform is aiming to transform the long standing gaming industry while providing benefits to those who are rooted in this industry as well as all the members who join the journey to achieve the targets of the platform. In short, by using token they want to build a decentralized currency for players and casinos to speed up the gaming industry with the 21stcentury world.
How Dragon Token Works?
It works step by step in the following way:
1 – Purchase The Tokens From An Exchange
First players need to purchase DRG ER20 token from a cryptocurrency exchange.
2 – Exchange Tokens For DGC
After this, DRG ERC20 Tokens are exchanged for DGC (Dragon Global Chips) from the partner Casinos & Junkets of Dragon to use them in the casino.
3 – Winnings
Winnings which are paid to the players can be converted into DRG or another crypto currency. The player has an option to receive a pay-out in fiat currency.
4 – Supply Burn
The profit portions are utilized for buy-back DRG tokens and burn them to reduce the total supply.
What is Dragon Coin?
The coin is used to participate in the Dragon blockchain ecosystem. It is an ERC20 Ethereum Utility token abbreviated with “DRG”. The ICO tokens will be initially brought through a token sale and thereafter on cryptocurrency exchanges, casino players & investors to participate at Casino by utilizing blockchain which runs by the Dragon partner junkets. These tokens can be exchanged for DGC which is a cryptocurrency gaming chip.
Use of Dragon Tokens
Owing DRG entitles a person membership to a community and allows access to the platform. Token holders are the members of the platform but they have no financial rights in the company at any point in time. The token holders will receive the membership but they are not the part of any distribution of profit and any claim on any assets. Remembers, membership is not provided with any type of right of redemption. The member will get the right to access the Platform with certain privileges and benefits. They are allowed to operate casino tables or other services within the platform’s community.
What is DGC?
In addition to its tokens, Dragon platform will also support the family of digital utility tokens which is called as ‘DGC.’ These players purchase DGC in the Casino by using DRG tokens purchased by them in a token sale. Only platform members can acquire DGC by converting DRG. It means, gamer’s needs to own the coins to buy DGC that can be exchanged only for non-negotiable physical gaming chips at any Dragon affiliated gaming place or Junket.
When it comes to cashing in physical negotiable gaming chips, dragon gamers have two options of receiving cash or digital currencies. These operations will be commenced by utilizing secure “gamer-cashier” wallet to wallet transfers through WI-Fi, mobile data or with secure NFC. If gamer willing to receive cash then he will get it in physical fiat money. But, if he chooses to receive through digital currency then cashier will process all the transactions and transfer of digital currency to the gamer’s wallet.
Summary of Presale to Early Supporters
- Time:- Early November to 12:00 pm on 3rd December 2017
- During Presale minimum purchase required is 50,000 DRG
- 60 million DRG will be sold at the price of US$ 1.00 per DRG
- During the Presale period purchase of DRF is not carried out under a token sale smart contract
Summary of Public Sale
- Time: 12:00pm on 8th December 2017 to 12:00pm on 31st December 2017
- 35 million DRG will be sold to the general public at the price of 0.00333 ETH per DRG
- Subscribers can submit their purchase orders and make payment on the DRG Sale website at www.drgtoken.io.
- All time quoted are in Macau local time
Dragon ICO Token Price and Sale
- Token Protocol : Tokens is issued and operated under the ERC20 infrastructure
- Public sale start date : 8th December 2017, 12:00 pm Macau time
- Public sale end date : 31st December 2017, 12:00 pm according to Macau time
- Price :00333ETH per 1 Token
- Token Amount of DRG created : 5,00,000,000 Tokens
- Accepted cryptocurrencies
- For the coin launch : – Ethereum (ETH)
- Junket Partners :- 53%
- Early Supporters :-12%
- Team :-10%
- Reserve :-10%
- Treasury :-7%
- Public Sale :-7%
- Advisors :-1%
Dragon ICO Team
- Chakrit (Chris) Ahmad (Founder & CEO)
- Paul Moynan (Co-Founder Business Development)
- Panchat Chayutthana (Director of Business Development and Finance)
Dragon is a unique project focusing on providing its services to the gaming industry in Macau and Mainland China. This project targets to minimize the cost of junkets from their ordinary ranges by utilizing blockchain technology. The platform will be securely supported by ethereum blockchain on which dragon will host its digital token/cash/chip management solution. However, many other tokens like FinTab, LH Token, Inspeer, FinTechBit, Upline, Banana Coin are also using blockchain technology due to security features. There are many companies that use ethereum blockchain to provide a safe and secure environment to their users. The casinos can use DRG (frictionless cryptocurrency) for easy player deposits and players can also withdrawal it by using other cryptocurrencies or fiat currencies.