Tribe

What is a tribe (TRIBE)?

TRIBE is a governance token decentralized autonomous organization (DAO) also named Tribe. It was designed to manage the Fei protocol. This means that it can be used in the voting process, taking into account the further development of the protocol. Because Tribe is a DAO, it has no founders or other controlling entities. His completely community driven using smart contracts.

If you’re interested in the current price of TRIBE, be sure to check out the Tribe price chart above.

The main roles in Tribe DAO are:

• Governor – responsible for assigning and revoking roles;
• Minter – responsible for coinage TRIBE and FEI tokens;
• PCV controller – responsible for fund management;
• The keeper – bears responsibility for refusing proposals and actions.

Faye Protocol

The core element of the Fei protocol is algorithmic stablecoin, which bears the same name – FEI. Stablecoin is pegged to the US dollar in a 1:1 ratio.. The goal of the Fei Protocol is to make the value of the ETH/FEI trading pair similar to the value of ETH/USD trades.

When the stablecoin was first launched, Tribe DAO issued FEI at a discounted price. Ethereum. This allowed the Tribe to create a pool of ETH that serves as the FEI treasury. A portion of the ETH from this pool and the newly minted FEI stablecoins were then reserved in the ETH/FEI liquidity pool held on Uniswap. FEI token holders can place their assets in this pool to provide liquidity. For this, stakers receive a reward.

Additionally, the FEI stablecoin uses a unique Product Controlled Value (PCV) model. This is the user’s part total locked value (TVL) mechanism.

However, instead of giving users the ability to temporarily lock up tokens in exchange for rewards, as is the case with TVL, PCV allows the Fei protocol to actually own the tokens. This way, the protocol has the ability to use capital to achieve its goals. This includes generating yield, maintaining peg stability and providing liquidity.

Additionally, using the PCV model and integration with Ondo Finance, Fei offers liquidity as a serviceThis means that it can provide liquidity to other DAOs.

Once the FEI was launched, its algorithmic alignment was maintained through a combination of direct incentives and weight overestimation. Direct incentives encouraged buying and penalized selling on the Uniswap exchange when FEI shares fell below the peg. The reweighting process was more complex, however, simply put, whenever FEI traded below its peg, the protocol reweighted the entire ETH/FEI pool.

Unfortunately, shortly after launch, the FEI peg dropped to an all-time low of $0.71. Thus, in October 2021 Fei V2 was introduced, eliminating overweights and direct incentives.

Tokenomics TRIBE

The maximum supply of TRIBE coins is 1 billion. The majority of the supply (80%) goes to the DAO, with the remainder divided between the Tribe team and investors.

If you are planning to purchase TRIBE tokens, please be aware that the price of TRIBE is subject to change. Most often this happens because TRIBE’s price is affected by the volatility of the entire crypto market, like many other crypto assets.