What Is Tribe (TRIBE)?
TRIBE is the governance token of the decentralized autonomous organization (DAO) named Tribe as well. It was developed to control the Fei protocol. This means that it can be used in the voting process considering the future development of the protocol. Since Tribe is a DAO, it doesn’t have any founders or other controlling entities. It’s governed fully by the community with the help of smart contracts.
If you’re interested in the current TRIBE price, make sure to check out the Tribe price chart above.
The main roles in the Tribe DAO are:
- Governor – responsible for role granting as well as revoking;
- Minter – responsible for minting TRIBE and FEI tokens;
- PCV controller – responsible for fund management;
- Guardian – responsible for declining proposals and actions.
The Fei Protocol
The core element of the Fei protocol is an algorithmic stablecoin, which goes by the same name – FEI. The stablecoin is pegged to the USD at a 1:1 ratio. Fei protocol aims to make the value of the ETH/FEI trading pair similar to the value of the ETH/USD trades.
When the stablecoin first launched, the Tribe DAO issued FEI at a reduced price for Ethereum. This allowed Tribe to create an ETH pool, which serves as the treasury of FEI. A portion of ETH from that pool and newly issued FEI stablecoins were then set aside in an ETH/FEI liquidity pool stored on Uniswap. FEI token holders can stake their assets in this pool to provide liquidity. For doing that, stakers receive rewards.
Besides, FEI stablecoin employs a unique product-controlled value (PCV) model. It is a part of the user-owned total value locked (TVL) mechanism.
However, rather than giving users the option to temporarily lock tokens in exchange for rewards like it is with TVL, PCV allows the Fei Protocol to actually own the tokens. Thus, the protocol is able to use the capital to pursue its goals. This includes yield generation, maintaining the stability of the peg, and providing liquidity.
Besides, by using the PCV model and integrating with Ondo Finance, Fei offers Liquidity-as-a-Service, which means that it can provide liquidity to other DAOs.
After the launch of FEI, its algorithmic peg was maintained via a combination of direct incentives and reweights. Direct incentives rewarded buying and penalized selling on the Uniswap exchange when FEI went down below the peg. The reweighting process was more complicated, however, to put it simply, whenever FEI traded below its peg, the protocol reweighted the whole ETH/FEI pool.
Unfortunately, the peg of FEI broke to an all-time low of $0.71 shortly after its launch. Thus, in October 2021, Fei V2 was introduced, which removed reweights and direct incentives.
Tokenomics of TRIBE
TRIBE coins have a max supply of 1 billion. The major part of the supply (80%) goes to the DAO while the remaining portion is split between the Tribe team and the investors.
If you’re planning to buy TRIBE tokens, do keep in mind that the TRIBE price is prone to change. This mostly happens because the TRIBE price gets affected by the volatility of the whole crypto market, just like many other crypto assets do.
These are the project's quantitative metrics of its official X account that can be used to trace regular or artificial Social activity & growth within the project.
Followers
38.22K
Followers: 38,223
0.14%
Following
7
0.00%
Posts count
852
0.12%
These are the project's quantitative metrics of its official Reddit account that can be used to trace regular or artificial Social activity & growth within the project.
Subscribers
157
0.00%
Subreddit type
public
Moderators
1
0.00%
These are the project's quantitative metrics of its official Telegram account that can be used to trace regular or artificial Social activity & growth within the project.
Members
-
Title
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Currently, official Tribe (TRIBE) Telegram Stats account doesn't exist or wasn't submitted. 🔆 Submit Now
These are the project website's metrics based on Ahrefs Rank. They're used to trace website activity & growth within the project. DR (Domain Rating) metric is a sign of the project's website reputability that is ranked from 0 to 100 (the higher the rank, the better reputability). Organic Traffic - is a metric of how many monthly users visit the project's website via search engines. All these metrics are used for determining active or passive projects despite the artificial hype.
Website Rating (DR)
57 / 100
1.72%
Ahrefs Rank
327,872
3.65%
Organic Traffic (mo.)
0
These are the project's quantitative metrics of its Organizational GitHub Public account that can be used to trace regular or artificial development activity & growth within the project.
Public repos
25
Type
Organization
These are the project's quantitative metrics of its official GitHub Public Repositories that can be used to trace regular or artificial development activity, growth & popularity of the project.
Stars
-
Watchers
-
Forks
-
Language
-
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