Fei Protocol will start with a fully decentralized DAO. The TRIBE token controls the DAO. TRIBE holders will have a say in adding new curves to new tokens or adjusting the price functions of the existing curves, and adjusting the PCV allocation for new incoming funds of the existing PCV.
The Tribe Coin is a stable coin for the decentralized finance market that uses the Ethereum blockchain. Tribe Coin, the governance token of the FEI Protocol, was launched by Joey Santoro, Brianna Montgomery, and Sebastian Delgado. Santoro and Delgado are the founders and co-founders of Fei’s protocol. Santoro is CEO of Fei Labs and business leader of Montgomery. The three co-founders with rich experience in the crypto space form the three pillars of TRIBE and Fei Labs.
The FEI Protocol with the Tribe Coin stablecoin aims to maintain a liquid market, where the FEI can trade at a fee close to the ETH/USD price.
Also, as a governance token, TRIBE can influence decisions regarding the FEI protocol launched in early 2021. Its goal was to create a reliable stablecoin that would bridge the gap between tokens stabilized by fiat currency collateral and those backed by crypto collateral.
What is a Tribe (TRIBE)?
Tribe coin is the Ethereum-based token of the FEI protocol, indexed to a fixed value of $1. The community token is the token that governs the FEI protocol. TRIBE can also have definitions as a minimized management token for peg maintenance focused on upgrades and integrations.
Fei Protocol (TRIBE) is a DeFi protocol that maintains an ETH-backed stablecoin and uses a dual-token model. The FEI is a stablecoin that uses Uniswap LP as the official market; a stabilization mechanism called the Protocol Controlled Value (PCV) keeps the FEI close to the dollar rate. TRIBE is the platform’s management token and has the following use cases:
- To buy Bitcoin and crypto money with a credit card, you can take advantage of commission benefits by becoming a member of Bitunivex.
- Liquidity mining: Users can contribute to Uniswap’s FEI-TRIBE liquidity pool to earn a share of DEX transaction fees. It is worth remembering that this only applies to UniswapV2 liquidity providers.
- Staking: Users can stake more FEI-TRIBE LP tokens in the Fei Protocol staking pool to earn TRIBEs in return.
- Staked tokens have no locks.
- Governance: Users can create and vote on governance proposals or delegate their voting powers to other addresses.
In addition to these, the project also has a stablecoin called FEI. FEI is a new type of stablecoin. The FEI is capital-efficient and has a fair distribution; it appeared as a decentralized coin. The protocol uses the value it controls to protect liquid secondary markets.
If the FEI rises above its fixed price, the PCV will determine the difference between the current and target price, providing an additional FEI print. According to the statements, the increase in circulating supply will push the FEI price back to the fixed price level.
A brief review on TRIBE Coin
The interest in TRIBE coin has increased, especially with the listing of Bitunivex and different exchanges. In addition to these, the project’s gaining confidence and receiving more investment seems to have increased the interest of the investors.
TRIBE Coin hit the lowest price on April 3, 2021, and it broke the record with $ 2.49 on April 4, 2021.
The specific characteristics of the Tribe Token (TRIBE)?
The Tribe token is the governance token of the Fei protocol. This protocol aims to maintain a liquid market in that its stablecoin, FEI, can trade close to the ETH/USD price. TRIBE holders can:
- Vote on adding new bonding curves for new tokens;
- Adjust the price functions of existing curves;
- Adjust the Protocol Controlled Value (PCV) allocation for the new incoming fundings or existing PCV fees.
Who founded TRIBE?
Joey Santoro, Brianna Montgomery, and Sebastian Delgado initiated the Fei decentralized stablecoin platform. Santoro and Delgado are the founders and co-founders of Fei’s protocol. Santoro is the CEO, and Montgomery is the business lead at Fei Labs. With rich experience in the crypto space, the three co-founders make up the three main pillars of TRIBE and Fei Labs.
TRIBE vs. FEI
As a governance token, TRIBE can influence decisions about the Fei protocol. Its goal was to create a reliable stablecoin that would bridge the gap between coins stabilized with fiat currency and those backed by crypto collateral.
The Fei protocol runs on two crypto assets: FEI stablecoin (to maintain the peg) and the TRIBE governance token (to balance volatility). TRIBE holders have the right to vote on adjustments to the FEI stablecoin.
How to store TRIBE Tokens
You can store TRIBE securely in both hardware and software wallets, such as the following:
- Ledger Nano S
Featuring an easy-to-set-up and user-friendly trading interface, Ledger Nano S can get used on desktops and laptops. The device is lightweight and portable and has a design to support most blockchain platforms with a wide range of ERC20 tokens. Apart from supporting multiple trading languages, its built-in chip security also ensures that your tokens are stored safely in a fuss-free manner.
- Ledger Nano X
A more advanced and secure version of Ledger Nano S, Ledger Nano X, can be used on desktops, laptops, and even smartphones/tablets with a stable Bluetooth connection. Ledger Nano X has a larger screen; more storage space than Nano S. Nano X is also lightweight and portable and accompanied by a built-in rechargeable battery.
- DeFi Wallet
You can access all DeFi services under one umbrella using this wallet. It provides complete control of 100 different coins and allows you to earn interest on more than 35 separate tokens. The DeFi Wallet provides users with 2-factor authentication (2FA), biometrics, and private keys encrypted on the device (locally) with Secure Enclave.
Trust Wallet is easy to use, with a clean UI that caters to different categories of traders — beginners, intermediate and advanced. Its built-in security features ensure that your assets are safely stored. It comes with some backup options that prevent cybercriminals from accessing your coins; while also granting you emergency access if you lose your device or forget your password.