Tribe

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Tribe?

Tribe (TRIBE) is an Ethereum-based governance token that manages the Fei Protocol, which issues a decentralized stablecoin called FEI. The token is designed to maintain a 1:1 peg with the U.S. dollar and is traded on multiple exchanges. Tribe allows community members to vote on platform upgrades and control the DAO treasury. It has a fixed maximum supply of one billion tokens, with a significant portion allocated to the DAO and various stakeholders.

How is Tribe used?

Tribe (TRIBE) is the governance token for the FEI algorithmic stablecoin. It is used in several ways:

  1. Voting: TRIBE holders have the power to vote on decisions regarding the development of the FEI protocol. They can vote on adding new bonding curves for new tokens or on the Protocol Controlled Value (PCV) allocation for new tokens.

  2. Staking: TRIBE allows holders to earn rewards by holding the stablecoin. This incentivizes users to participate in the governance and stability of the FEI ecosystem.

  3. Store of Value: The token can retain purchasing power without deteriorating in the future, making it a stable asset to own.

  1. Medium of Exchange: Tribe can be used to exchange for an equal amount of digital assets, stablecoins, virtual currency, or any cryptocurrency token.

  2. Mitigating Loss: The token allows holders and investors to use TRIBE as a form of storage for profits and to mitigate potential losses.

  3. Governance: Community members have the right to participate in decision-making and can update or remove existing protocols in FEI.

Overall, TRIBE plays a crucial role in maintaining the stability and governance of the FEI stablecoin, which aims to provide a decentralized solution to the stablecoin market.

How do I store Tribe?

To store TRIBE tokens, you can use a variety of digital wallets that support the cryptocurrency. Here are some options:

  • Guarda Wallet: Guarda offers a multi-currency wallet that supports TRIBE tokens. You can create an online wallet, download a mobile app, or install a desktop wallet. The process involves creating an account, setting a strong password, and saving your wallet backup. You can then add your TRIBE tokens to the wallet.

  • Kriptomat: Kriptomat is a platform where you can buy and store TRIBE tokens. After creating and verifying your account, you can add funds using a bank deposit or credit card. Then, you can purchase TRIBE tokens and store them in your Kriptomat wallet.

  • Defexa Wallet: Defexa offers a digital wallet app for iOS and Android devices that supports TRIBE tokens. You can generate, store, and manage your TRIBE-based cryptocurrencies and tokens using this wallet.

  • Noone Wallet: Noone provides a free TRIBE token wallet with 24/7 support. You can create a Tribe Token address, send, and exchange over 1200+ coins and tokens using this wallet.

These wallets provide secure and user-friendly platforms to manage your TRIBE tokens.

How to buy Tribe?

To buy Tribe (TRIBE) tokens, you can follow these steps:

  1. Choose a Reliable Exchange: Select a trusted and reputable cryptocurrency exchange that supports TRIBE purchases. Options include Kriptomat, Binance, and KuCoin. Ensure the exchange has solid security, liquidity, and a competitive fee structure.

  2. Create an Account: Sign up with the chosen exchange by providing the required information and setting a secure password. Enable two-factor authentication (2FA) for added security.

  3. Verify Your Identity: Complete Know-Your-Customer (KYC) verification, which may require providing personal and identification details depending on your nationality and region.

  1. Add a Payment Method: Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment methods.

  2. Buy TRIBE: Use your added payment method to purchase TRIBE. You can buy TRIBE directly with fiat currency if supported or do a crypto-to-crypto exchange by first purchasing a popular cryptocurrency like USDT and then exchanging it for TRIBE.

Alternatively, you can also use a crypto wallet to buy TRIBE. Here's how:

  1. Choose a Crypto Wallet: Select a reliable and reputable crypto wallet that supports TRIBE, such as Coinbase Wallet, MetaMask, or TrustWallet.

  2. Set up Your Wallet: Create an account, provide personal information, and set a strong password. Make sure to note down the secret recovery phrase or seed words carefully.

  3. Buy a Base Currency: Choose a cryptocurrency exchange platform and buy a base currency like Bitcoin, Ethereum, or Tether, which you will use to trade TRIBE.

  1. Transfer Funds to Your Wallet: Withdraw your base currency to your crypto wallet by providing your wallet address and the amount you want to transfer.

  2. Choose a Decentralized Exchange (DEX): Select a DEX that supports your wallet, such as Pancake Swap. Ensure the DEX supports TRIBE trading pairs and compare liquidity and trading fees.

  3. Buy TRIBE with Your Base Currency: Connect your wallet to the DEX, select TRIBE, and enter the amount you want to trade.

Remember to diversify your portfolio and be aware of market trends and risks.

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History of Tribe

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How Tribe works

Tribe (TRIBE) is an Ethereum-based governance token that operates within a decentralized autonomous organization (DAO). This means that the project is fully decentralized and managed by a community through decentralized contracts rather than a single governing authority or issuing entity.

Key Features
  • Governance Token: TRIBE is the governance token controlling the DAO, giving its holders the right to vote on matters such as adding new curves to new tokens or adjusting the Protocol Controlled Value (PCV) allocation for new incoming funding or existing PCV fees.
  • Stablecoin Peg: Tribe is designed to stay pegged at a 1:1 ratio with the U.S. dollar, ensuring that each token is worth $1.00 at all times.
  • Supply Management: The supply of Tribe tokens is carefully managed to achieve its 1:1 peg to the dollar. The maximum supply is fixed at one billion, with a current circulating supply of 453,448,622 tokens.
  • FEI Token: Tribe's FEI token can be bought from the DAO directly and traded on open crypto exchanges or through peer-to-peer transactions. However, investors cannot sell their tokens back to the DAO unless the value goes above the peg.
  • Decentralized Finance (DeFi): Tribe is part of the FEI protocol, which aims to create a fair, liquid, and scalable market for its FEI stablecoin that is pegged at a $1.00 ETH/USD price.
Functionality
  • Voting: TRIBE holders have the power to vote on decisions about the development of the Fei Protocol, including adding new bonding curves for new tokens or adjusting the PCV allocation.
  • Staking: TRIBE allows holders to earn rewards by holding the stablecoin.
  • Store of Value: The token can retain purchasing power without deteriorating in the future, making it a stable asset to own.
  • Medium of Exchange: Tribe can be used to exchange for an equal amount of digital assets, stablecoins, virtual currency, or any cryptocurrency token, mitigating potential losses.
Trading and Wallet Support
  • Trading Platforms: Tribe can be bought and traded on various cryptocurrency exchanges, including Binance and Coinbase.
  • Wallet Support: The PTPWallet platform supports Tribe, offering a simple and interactive interface for users to manage their TRIBE tokens.

Overall, Tribe is a governance token that plays a crucial role in the decentralized management of the FEI protocol, ensuring the stability and scalability of its stablecoin, FEI.

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Tribe's strengths

The token Tribe (TRIBE) has several strengths that make it a significant player in the cryptocurrency market:

  1. Governance Power: TRIBE is a governance token, giving its holders the power to vote on the future direction and upgrades of the Fei protocol, a decentralized platform. This allows community members to have a direct say in shaping the project's future.

  2. DAO Treasury Control: TRIBE holders also have control over the DAO treasury, which means they can influence how funds are allocated and utilized within the platform.

  3. Decentralized Platform: As a part of the Fei protocol, TRIBE operates on a decentralized platform, ensuring that decision-making and fund management are distributed and not controlled by a single entity.

  1. Wide Exchange Support: TRIBE is traded on various cryptocurrency exchanges, including Uniswap, Sushiswap, Binance, and Bybit, making it easily accessible to investors.

  2. Potential for Growth: TRIBE's role in the Fei protocol and its decentralized nature suggest potential for growth as the platform expands and more users are drawn to its governance model.

These strengths highlight TRIBE's importance in the Fei ecosystem and its potential to attract investors looking for governance tokens with real-world influence.

Tribe's risks

Tribe (TRIBE), a cryptocurrency project, faces various financial risks. These risks can be broadly categorized into several key areas:

Fraud and Abusive Schemes

Tribe is vulnerable to fraudulent activities and abusive schemes, which can lead to significant financial losses. These schemes often target tribal governments and entities, exploiting their financial systems and processes.

Risk Management and Insurance

Tribe's financial risks are also closely tied to its risk management and insurance strategies. Effective risk management involves identifying and mitigating potential risks through comprehensive business planning, which includes insurance placement and risk strategy. This helps protect tribal assets and ensures long-term financial stability.

Cybersecurity Risks

Tribe's digital infrastructure is susceptible to cybersecurity threats, which can compromise its financial systems and expose sensitive data. Implementing robust cybersecurity measures is crucial to prevent such risks and ensure the integrity of financial transactions.

Market Volatility

As a cryptocurrency, Tribe is inherently exposed to market fluctuations, which can result in significant losses if not managed properly. Market volatility can be mitigated through diversification and strategic investment planning.

Regulatory Risks

Tribe must comply with various regulatory requirements, and non-compliance can lead to financial penalties and reputational damage. Staying up-to-date with regulatory changes and ensuring compliance is essential to minimize these risks.

Operational Risks

Tribe's financial risks are also influenced by operational inefficiencies, such as inadequate risk assessment tools and ineffective risk management practices. Implementing advanced risk assessment methods, like Hierarchical Graph Neural Networks, can help identify and mitigate these risks more effectively.

By understanding and addressing these financial risks, Tribe can develop robust strategies to mitigate them and ensure long-term financial stability and growth.

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Did Tribe raise funds?

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Tribe’s team

  • Arjun Sethi: Co-founder and partner at Tribe Capital, a venture capital firm that invests in early-stage startups and uses quantitative data to inform investment decisions.
  • Boris Revsin: Managing partner overseeing the early-stage Tribe Crypto Fund I and its early-stage incubation project, as well as a partner on the firm’s equity investments.
  • Jonathan Hsu: Co-founder of Tribe Capital, along with Arjun Sethi and Ted Maidenberg.
  • Ted Maidenberg: Co-founder of Tribe Capital, along with Arjun Sethi and Jonathan Hsu.

Whalee AI

The fundamental analysis assistant for crypto value investors.

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