AMA recap: Crypto Royals x DramEx

DramEx
9 min readJun 11, 2021

Date: 8th June 2021 at 3 pm UTC
Hosted by: Aryan Soni
Speaker: Ernest Cantillon

Aryan Soni:
Hello sir, So nice to have you with us for AMA Session today.

Ernest Cantillon:
Really looking forward to telling you all about DramEx

Introduction Questions

Aryan Soni | Crypto Royals:
Q1. Can you please introduce yourself as well as Dramex?

Ernest Cantillon:
Hey everyone!

Thanks for taking the time today to hear more about DramEx and our exciting plans to revolutionise the whiskey industry.

A little about me. I’m from Cork in Ireland. I have a business degree and for the past 15 years, I have been running my own businesses.

These are primarily in the food and drinks sector — bars, restaurants and a spirits company

Our multi-award winning products, Kinsale Gin and Red Earl Irish Whiskey are distributed throughout Ireland, the US and more recently China.

I’m lucky enough to have a hardworking and dedicated team in place to run these businesses, allowing me to focus 100% on Dramex.

I’ve been involved with crypto since 2019 and was inspired by the enormous potential of DeFi that started to become very clear to me last summer.

It was working on building my own spirits business that led to the plans for DramEx. I was frustrated by how hard it is to buy, sell and enjoy whiskey directly from either distillers or other whiskey lovers.

Over the past number of years, a number of my friends and colleagues have been successful in the crypto space. I presented my idea for DramEx as a global digital marketplace for whiskey assets to some of my contacts in the crypto industry who supported the idea and recognised its enormous potential. From here, we started building a team which brings us here today — presenting our vision to you.

Aryan Soni | Crypto Royals:
Q2. Can you briefly describe the top milestone you have achieved so far? And your future target milestone?

Ernest Cantillon:
We are just getting started but have made some great progress! We have built an excellent team of crypto veterans, a Coinbase executive, and whiskey experts and have been putting in great work behind the scenes.

We have already onboarded an award-winning distillery in Kinsale Spirits and are in advanced talks with more.

We will complete our private sale over the next few weeks and expect to IDO this summer. Our team has a strong track record of delivering both traditional and crypto businesses, most importantly some successful IDO over the past year.

Aryan Soni | Crypto Royals:
Q3. We are so curious about $DRAM, could you please tell us about $DRAM, its total supply, and its features?

Ernest Cantillon:
The DRAM token is the gateway to the DRAM ecosystem

To start with, anyone can use the DRAM token for staking and yield farming.

And of course, you will need to stake your DRAM token to enter into our membership clubs with varying benefits like yield enhancements, NFT airdrops, and exclusive access to products.

In addition, those who want to engage in trading and buying whiskey will need the DRAM token to facilitate these transactions.

Without the DRAM token, the ecosystem will fall apart — which is where the token will get its value from.

Twitter Questions

Aryan Soni | Crypto Royals:
First question from Twitter.

Can you share more about the meaning of the name ‘’DramEx’’? Are the founders of the project knowledgeable and experienced in alcohol? The current market that the DramEx project is targeting is certain countries? Are those countries with a developed alcohol industry?

From (@nguyenhuybach12)

Ernest Cantillon:
As a whiskey marketplace, we chose the name DramEx. Why?

A ‘Dram’ is a measure of whiskey. It means a small glass of whiskey. ‘Ex’ stands for exchange — we will be a whiskey exchange and marketplace!

So combining ‘Dram’ and ‘Exchange’ — we came to the name DramEx. We hope you like it as much as we do!

I have spent my career in the hospitality industry and have operated highly successful bars for decades. I have a particular passion for whiskey and am the co-founder of Kinsale Spirits — an award-winning whiskey distillery.

DramEx will focus marketing efforts on certain key countries as the project launches — but the aim is to become a truly global marketplace that anyone who passes relevant KYC/AML can invest in whiskey.

However, you do not need to invest in whiskey or even be interested in whiskey to be part of the DramEx community and enjoy benefits such as staking rewards and membership clubs.

Aryan Soni | Crypto Royals:
Second question from Twitter.

So, your ecosystem will consist of pre-approved distilleries and whiskey lovers, but what are the requirements for traditional distilleries to enter the “DramEx” platform for financing? And how scalable is your project in the whiskey industry?

From (@mikhavelora)

Ernest Cantillon:
Distilleries will be vetted before being admitted to the platform. The purpose of this is to ensure that only real, authentic distilleries list their produce on the platform. This is to protect our community and ensure that quality standards are met.

Our project is highly scalable. A key focus of DramEx is on UX — for all participants. We will make it extremely easy for distilleries to list their products on the marketplace. As a digital marketplace that transcends international borders, DramEx is inherently scalable and has the potential to become the world’s premier marketplace for whiskey assets.

Aryan Soni | Crypto Royals:
Third question from Twitter.

Among the services offered by DramEx is the use of the native DRAM token to be part of exclusive whiskey membership clubs. How much is the minimum or maximum bet to be able to apply as an exclusive member and what is the list of clubs available to users?

From (@heartless98)

Ernest Cantillon:
There is no determined minimum or maximum stake to access the membership clubs. Access will depend on 2 factors — time staked and amount staked. The stake required will likely increase as the ecosystem expands.

These membership clubs will entitle members benefits that may include and are not limited to: first row access to new whiskey products, ecosystem NFT and DRAM airdrops, the ability to participate in DramEx launchpad projects, and community governance.

Aryan Soni | Crypto Royals:
Fourth question from Twitter.

Can you share some details about your seed investors? Also since we are secondary buyers how can you guarantee that they will not dump on us?

From (@ekrem34264841)

Ernest Cantillon:
Stay tuned for announcements about seed investors. But we are glad you asked this question.

Early-stage investors will not be able to dump on the market as their tokens are unlocked over 9 months (seed) and 6 months (private).

These lockup times ensure that the only early-stage investors in DramEx believe in the vision of the project and its long-term success — and are therefore less likely to dump on the market.

Let's all make money together! That's what crypto means to me

Aryan Soni | Crypto Royals:
Fifth question from Twitter.

You think it’s the community that drives progress and it’s the community that deserves the best! How will community power drive your project towards global growth? What’s your strategy for building a big and strong community?

From (@rgoz_m)

Ernest Cantillon:
Community is crucial to DramEx success — we understand this. That is why we will be actively engaging with the community through our main channels of telegram and Twitter. DramEx is not a project limited to whiskey enthusiasts — but also for the wider crypto community who want to be a part of a high-quality project with real-world applications.

That is why we will ensure that the crypto community is continually engaged with the project and can participate in the benefits of the ecosystem through staking and participating in membership clubs.

The community that stakes together, stays together!

Live Questions

Q1).adityagamer450

My question, Can you share something about the team behind #dramEx ? And how long have you been working on this project?

Ernest Cantillon:
Delighted someone asked this question

We have a great team and we are adding to it all the time

I have been in the drinks business for 15 years

We have a number of distillery partners lined up, including my own business, in which we have hundreds of whiskey casks we would love to trade with

We are being accelerated by the Sors Digital Assets team which have been involved in launching many successful projects over the past three years.

Pete Townsend, a board member of Coinbase amongst others just joined our team.

So many successful IDO’s under their belt. Thats why I picked them to team up with

We also have Osgur on the team who has spent many years in the fashion industry modelling and will be the face of our promotional campaigns

Q2).ysasoma

DramEx has exclusive membership clubs, what opportunities do users get by being accepted in these clubs, I mean, is there an additional benefit if as a user I am part of a particular club or to be part of DramEx it is necessary to belong to one?

Ernest Cantillon:
I am very excited about this feature of our offering

If you like whiskey you will love the DramEx Club

It's completely optional but who doesn't like whiskey!

There are lots of perks such as access to buy rare whiskies and special releases at very good prices, before anyone else

And in the world after Covid , which we are all looking forward too, there will be physical meet ups — the DramEx Club on tour!

Youll be inited to meet other members and enjoy excellent whiskey tastings

There are also financial benefits like reduced trading fees on the platform

Q3).WeArePerfects

Can you list 1–2 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?

Ernest Cantillon:
A key differentiating factor for DramEx is that it will be coordinated by the DRAM token.

The DRAM token is carefully designed to incentivise community participation and growth — and this gives DramEx a great advantage over other competitors.

DramEx will be community governed and operated on a not-for-profit basis — in which all revenue and rewards are distributed to the community — not a centralised business.

This will create an engaged global community that can benefit from the ecosystem — rather than just whiskey distilleries and investors.

This is what we are most excited about and this is why we think DramEx will be a great success.

Q4).cryptoworld2104

In which CONSUMER MARKET are you FOCUSING at present now for your WHISKEY MARKETPLACE?

What are your STRATEGIES to Promote Dramex as a WHISKEY MARKETPLACE
ESPECIALLY to People who are not FOND of DRINKING WHISKEY?

Ernest Cantillon:
This is an interesting question and I am very glad that you asked it!

As I have mentioned earlier — DramEx will be coordinated by the DRAM token — which is designed to incentivise positive actions and ecosystem growth.

While this will have great benefit for whiskey investors and distilleries — people with no interest in whiskey can still benefit from being a DRAM token holder.

DRAM holders will be able to stake for rewards — and our circular token economy will mean that stakers will always receive rewards for supporting the ecosystem.

Also, anyone can join the DramEx membership clubs and participate in the benefits that these may offer including exclusive NFT drops, merch and first-row access to DRAMs newest features.

Q5).Ghutumama

Do the token holders, have the right to participate in the governance of the project???,”
-What kind of decisions, can they, vote on about the project??,”

Ernest Cantillon:
Yes — we believe that tokenholders as key stakeholders should have a right to participate in the governance process. Token holders will be able to submit proposals for changes to DramEx.

This may be in relation to platform fees, what products can be offered on the platform, and much more.

Ultimately, DramEx will NOT be an entity owned and governed by a select few for their own benefit.

It will be a community governed platform — operated for the benefit of the community — not a centralised authority.

Whiskey for the people by the people

Thank you.

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DramEx

Where Whiskey Meets Crypto A decentralised marketplace that allows the global whiskey community to own, trade and invest in whiskey http://t.me/dram_ex