TRIBE Token is a governance token belonging to Fei Protocol, which is a decentralized stablecoin issuance platform. Accordingly, this token is used on the platform as a protocol governance tool, allowing the owner the right to vote, vote, or propose changes in the ecosystem.
Do you want to learn more about TRIBE Token and the ecosystem it belongs to? If so, please stay tuned for upcoming content from AZcoin.
What is the Fei Protocol
Fei Protocol is a decentralized stablecoin issuance platform developed to provide a fair trading environment with high liquidity and scalability by Joey Santoro, Brianna Montgomery, and Sebastian Delgado. The platform operates based on two main mechanisms: Direct Incentives and Protocol Controlled Value (PCV).
Currently, Fei Protocol has issued two different tokens:
- FEI: A stablecoin on the Ethereum network, pegged to the value of 1 USD, offering stability, decentralization, high liquidity, and scalability, allowing users to access DeFi platforms more easily.
- TRIBE: The governance token of Fei Protocol, used as a governance tool. TRIBE holders have the right to vote, propose, or make decisions regarding changes within the ecosystem. Additionally, TRIBE can be staked to earn rewards.
What makes the Fei Protocol special?
One of the features that makes Fei Protocol stand out is that it takes a completely different approach from other DeFi platforms. Instead of using Total Value Locked (TVL) as a measure of the project’s success, Fei Protocol adopts the Protocol Controlled Value (PCV) model.
According to the developers of Fei Protocol, the shift to the PCV model is to prevent the platform from having to offer large rewards to maintain locked capital. This situation, if not managed properly, could cause the project to lose its appeal to the community and investors.
So, what does the PCV model offer? The platform will fully own the assets locked in smart contracts. This model provides greater flexibility for the protocol to engage in non-profit activities, aligning with core goals such as maintaining the stability of the peg.
Additionally, to enhance its value and increase its recognition, Fei Protocol has partnered with several entities to expand its market applications.
How does the Fei Protocol work?
As mentioned from the beginning, Fei Protocol operates mainly based on two main mechanisms: Direct Incentives and Protocol Controlled Value (PCV), specifically as follows:
Protocol Controlled Value
Protocol Controlled Value (PCV) is a subset of Total Value Locked (TVL), where the protocol fully owns the assets locked in smart contracts. This creates a distinction from other common IOU models due to its long-term and non-reclaimable nature. Additionally, the PCV model enhances the protocol’s flexibility in undertaking non-profit activities, ensuring liquidity or price support for users.
Fei Protocol provides an ideal environment for the PCV model, thanks to its mechanisms like bonding curves and other incentives offered by the platform.
Direct Incentives
Direct Incentives are used to encourage trading on Uniswap through Mint and Burn mechanisms. These incentives are applied directly to the trader’s balance, depending on the distance from the peg price. This means that users who sell more FEI will incur higher Burn fees, while those who help stabilize the price through Minting are encouraged.
The formulas used ensure that any fluctuations below the peg price will reduce the total supply of FEI, helping to adjust the supply to match market demand.
What is TRIBE Token?
TRIBE Token is the governance token of Fei Protocol, mainly used for participation and deciding the future directions of the platform.
Specifications
- Token Name: TRIBE Token
- Ticker: TRIBE
- Blockchain: Ethereum
- Standard: ERC-20
- Token Type: Governance
- Total Supply: 1.000.000.000 TRIBE
Token Allocation
Currently, TRIBE Tokens are being allocated as follows:
- DAO Treasury: 40%
- IDO: 20%
- Fei Core Team: 13%
- Genesis Group: 10%
- Staking Rewards: 10%
- Fei Core Team Investors: 5%
- Grants: 2%
Where to trade TRIBE Token?
If you want to trade TRIBE Token, the best crypto exchanges we recommend you are Binance, Huobi Global, Gate.io, Coinbase,…
Besides, if you need a place to store this token, we recommend you try Trust Wallet, Metamask, MyEtherWallet,…
Conclusion
So we have come to the end of all the interesting content surrounding TRIBE Token and the Fei Protocol platform. Thank you for taking the time to follow and see you again in new content at AZcoin.
I am Tony Vu, living in California, USA. I am currently the co-founder of AZCoin company, with many years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
