TL;DR Breakdown
• DragonBite merges with BitMart to improve loyalty programs.
• BITE may experience an increase in its price with DragonBite.
Recently, DragonBite announced that it would cooperate with BitMart to come up with a brilliant crypto strategy. Some of these projects are not afraid to join the crypto market despite going through a turbulent time. The Bite token sees this volatility in the market as an opportunity to grow in its capitalization.
The DeFi App was designed so users can store and exchange their reward points for decentralized currencies. These coins are seen on Cointelegraph, and since last month, it has raised $2.7 million, brought about by private investment. According to announcements, Bite will offer settlements to the leading technology development platform and promoting its growth.
DragonBite estimates with BitMart
The loyalty market in all its areas is estimated to be valued at $316 billion, representing a great opportunity for DragonBite. Taking advantage of the loyalty sector, the company will attract a lot of attention from new investors and partners who want to join its scheme.
DragonBite Dapps will allow customers to exchange their BITE reward points to famous cryptocurrencies on the market. These points will include coupons, Gift Cards, flight miles, coupons, expiring seats, and game coupons.
BitMart CEO Sheldon Xia clarifies that they are looking for the link between Bite and their company’s functions to get into the game. BitMart’s goal is to optimize DragonBite Dapps so users don’t abandon it.
But the Bite CEO, Elvan Yau, says that cryptocurrency exchanges are usually confusing, but everything will change with their Dapps. Accessing cryptocurrencies on BitMart from Bite can motivate customers to buy cryptocurrencies. These transactions will be controlled by BITE, DragonBite’s native currency.
However, Bite is not the only DeFi scheme that focuses on loyalty programs. Bridge2Solutions and BAKKT provide a wallet for people to exchange their reward points, but their program is complex. But Bite offers a simple system and is associated with 20 significant loyalty programs.
Potential Bite partners are JD.com, Starbucks, Burger King, Campeón, Vanguardia, and Maxim’s sponge cake. This partnership will attract 50,000 merchants globally and over 1 million subscribers.
BITE’s appearance in the crypto market
Although this merger between BitMart and Bite takes time, it will benefit the popularity of BITE. The platform is expected to appear in the third quarter of 2021, so new users can join it. Since the announcement, BitMart has registered over 5 million new users.
The Bite CEO clarifies that the relationship with BitMart is long-term, and he hopes both companies will benefit. While DragonBite Dapps are good for the loyalty scheme, merchants will notice an optimization when using the token with BitMart. Bite campaigns on BitMart are expected to start in June.
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