Tribe PriceTRIBE

What is Tribe (TRIBE)?

Tribe (TRIBE) is the governance token for the FEI algorithmic stablecoin, a decentralised finance project built on the Ethereum blockchain. Fei aims to provide a new decentralised solution to the stablecoin market by addressing the structural weaknesses of existing stablecoins. The project identifies that existing stablecoins are either fiat-collateralised, and therefore centralised, or crypto-collateralised, making them capital-inefficient. Other algorithmic stablecoins suffer from no liquidity backing the peg, making them inherently unstable, or centralise rewards to seigniorage stakeholders. FEI proposes a model similar in design to fractional reserve central banking, where the protocol issues FEI for a subsidised price against ETH at its genesis event and subsequently uses the incurred Ether as a treasury to maintain the peg. TRIBE is the governance token of the DAO controlling the governance of FEI and can be used in governance proposals or swapped for FEI in a UniSwapV2 liquidity pool. The token has a total supply of 1,000,000,000 TRIBE. The project launched in March 2021 and is governed by its community in a fully decentralised manner through smart contracts.

Key Specifications & Tokenomics

• Name: Tribe
• Ticker / Symbol: TRIBE
• Blockchain / Platform: Ethereum
• Contract Address: 0xc7283b66eb1eb5fb86327f08e1b5816b0720212b
• Category: DeFi, Governance, Algorithmic Stablecoin
• Total Supply: 1,000,000,000 TRIBE
• Max Supply: 1,000,000,000 TRIBE
• Allocation: 80% distributed to the DAO, 15% to the team
• Official Website: https://fei.money/
• Whitepaper: https://fei.money/static/media/whitepaper.7d5e2986.pdf
• Explorers: etherscan.io

Who created Tribe?

Tribe is run as a DAO, meaning it is governed by its community in a fully decentralised manner through smart contracts. The Fei stablecoin governed by the DAO was founded by a team of Bay Area residents. Joey Santoro served as CEO of Fei Labs; he was previously a software engineer at Okta Inc with a degree in computer science from Duke University. Brianna Montgomery was the project's business lead; she worked at ConsenSys, a blockchain studio, prior to being involved with Fei Labs. Sebastian Delgado served more than two years at Dharma Labs, a DeFi project, and graduated from UC Berkeley. Fei Labs is backed by several VC funds, including Andreessen Horowitz and Coinbase Ventures.

How does Tribe work?

FEI introduces the concept of product-controlled value (PCV). The protocol issues FEI for a subsidised price against ETH at its genesis event and subsequently uses the incurred Ether as a treasury to maintain the peg. This model is similar in design to fractional reserve central banking. TRIBE serves as the governance token of the DAO controlling the governance of FEI. Holders can use TRIBE in governance proposals or swap it for FEI in a UniSwapV2 liquidity pool. The DAO governs the stablecoin through smart contracts, enabling community-driven decision-making. The project identified the capital inefficiency of crypto-collateralised stablecoins and the mercenary capital phenomenon as the main obstacles to designing a fully decentralised stablecoin. The former implies that more capital has to be deployed than can enter the system, which by design limits the growth potential of a system using crypto-backed stablecoins. Coins like DAI suffer from liquidity providers always being on the hunt for the best yield and, consequently, have a limited scope of autonomy.

What makes Tribe unique and valuable?

Tribe and the FEI stablecoin aim to solve critical problems in the stablecoin market. Unlike fiat-collateralised stablecoins that are centralised, or crypto-collateralised stablecoins that are capital-inefficient, FEI proposes a model similar in design to fractional reserve central banking. The protocol uses product-controlled value (PCV) to maintain the peg, with Ether incurred during the genesis event serving as a treasury. This approach seeks to avoid the instability of algorithmic stablecoins that lack liquidity backing the peg, and it avoids centralising rewards to seigniorage stakeholders. The project's focus on addressing the mercenary capital phenomenon and the capital inefficiency of crypto-backed stablecoins positions it as a distinct attempt at creating a fully decentralised stablecoin. The governance token TRIBE enables community control over the protocol, aligning with the broader DeFi ethos of decentralisation and autonomy.

What is Tribe used for?

TRIBE is the governance token of the DAO controlling the governance of FEI. It can be used in governance proposals, allowing holders to participate in decisions about the protocol's future. Additionally, TRIBE can be swapped for FEI in a UniSwapV2 liquidity pool. The token is integral to the decentralised governance structure of the Fei stablecoin, giving its community the ability to shape the project's direction through smart contracts. As a governance token, TRIBE represents voting power within the Tribe DAO, enabling holders to influence the management and evolution of the FEI stablecoin ecosystem.

How Is the Tribe ecosystem developing?

The Tribe ecosystem is centred around the FEI algorithmic stablecoin and its governance DAO. The project launched in March 2021 and has since been governed by its community in a fully decentralised manner through smart contracts. The ecosystem includes the TRIBE governance token, the FEI stablecoin, and the UniSwapV2 liquidity pool where TRIBE can be swapped for FEI. The project has attracted backing from venture capital funds such as Andreessen Horowitz and Coinbase Ventures. Community engagement includes governance proposals and participation in the DAO. The project's development is driven by its community, with smart contracts facilitating decentralised decision-making. The FEI stablecoin and TRIBE token are listed on various platforms, and the project continues to be governed by its DAO.

How to mine Tribe?

TRIBE is not mined through traditional proof-of-work mechanisms. It is a governance token on the Ethereum blockchain, and its distribution is determined by the project's tokenomics. The total supply of 1,000,000,000 TRIBE is allocated with 80% distributed to the DAO and 15% to the team. There is no mining process for TRIBE. Instead, tokens are allocated according to the project's distribution model. Users can acquire TRIBE through trading on supported platforms or by participating in the ecosystem's governance and liquidity activities. The token's utility is primarily for governance and swapping for FEI in a UniSwapV2 liquidity pool.

How to keep your Tribe Coin safe?

Keeping your TRIBE tokens safe involves standard cryptocurrency security practices. Since TRIBE is an Ethereum-based token, it can be stored in compatible wallets that support ERC-20 tokens. MetaMask supports buying, selling, managing, and trading TRIBE directly in the wallet. Users should ensure they use reputable wallets and follow best practices for private key management, such as using hardware wallets for significant holdings and never sharing private keys or seed phrases. Additionally, users should be cautious of phishing attempts and only interact with official websites and verified smart contracts. The contract address for TRIBE is 0xc7283b66eb1eb5fb86327f08e1b5816b0720212b, and users should verify this address when interacting with the token. Regular security audits and staying informed about the project's official communications can also help protect your assets.