One way of using this card for both effects in one turn is by searching "Dragunity Tribus", and Summoning it in order to send a Dragon to the Graveyard with its effect. However, this will limit your choice of Dragons to Level 3 or lower.
By discarding "Phalanx" to search out and Summon "Dux", you can use this card's effect to gain instant access to most Level 6 Synchro Monsters, including "Dragunity Knight - Gae Dearg", who can then search out and discard more of your "Dragunity" monsters to vastly increase the deck's speed.
Using "Gae Dearg", a "Debris Dragon" can be searched out. On your next turn, Normal Summon it and use its effect to search for "Phalanx". Then, tune "Debris" with "Gae Dearg" to Synchro Summon "Trident Dragion", and destroy this card and "Phalanx" for its effect. Against a clear field, attack for game.
If a Dragon/DARK Deck is used, this card's effect can be used to dump "Rare Metal Dragon" from your Deck, then Special Summon it via "Dark Horus" or "Red-Eyes Darkness Metal Dragon", employing a ruthless Beatdown.
Discard a "Red-Eyes Wyvern" to send a "Red-Eyes Darkness Metal Dragon" to the Graveyard to be Special Summoned at the End Phase.
It can also be in reversed order to Summon your "Red-Eyes Darkness Metal Dragon" easily.
This card can also act as a quick substitute for the effect of "Dragunity Knight - Gae Dearg", since this card can be easily searched via "Terraforming", but this will limit your search only to "Dragunities".