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Tribe

TRIBE

4.3

Price
$0.22
10/7/2022, 8:27:14 AM
diamondHands

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Market

Market stats

Market cap

$99.6M

Volume (24h)

$1.6M

Circulating supply

453.4M TRIBE

Typical hold time

8 days

Popularity

#99

All time high

$2.49

Price change (1h)

+0.05%

Price change (24h)

-0.37%

Price change (7d)

+2.25%

Trading activity

59% Buy0% Buy
41% Sell100% Sell

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Tribe is on the rise this week.

The price of Tribe has risen by 2.25% in the past 7 days. The price declined by 0.37% in the last 24 hours. In just the past hour, the price grew by 0.05%. The current price is $0.21975 per TRIBE. Tribe is 91.17% below the all time high of $2.49.

The current circulating supply is 453,448,622 TRIBE.

About

TRIBE is an Ethereum token that governs Fei Protocol, which issues a separate, decentralized stablecoin called FEI that attempts to maintain a value of US$1.00. TRIBE can be used to vote for Fei Protocol upgrades and to adjust FEI stablecoin monetary policy.

What Is Tribe (TRIBE)?

FEI Protocol is a decentralized, scalable, and liquid stablecoin platform that aims to serve as a backbone to DeFi applications. TRIBE is the governance token of the platform. FEI Protocol is based on the core principle of fully decentralized design (FEI DAO) and minimal dependence on any centralized assets or protocols on Ethereum. A DAO is a decentralized autonomous organization, not controlled by a single institution. The FEI Protocol is DeFi-native and aims to promote the sustainable creation of FEI stablecoin. FEI is a pegged stablecoin by the platform that follows the ERC-20 standard. The platform seeks to maintain a liquid market where ETH/FEI trades closely to the ETH/USD price. 

As a stablecoin platform, the FEI protocol aims to cater to the following existing issues of the stablecoin models.

  1. Fiat-collateralized: The fiat-collateralized stablecoins are issued by centralized entities. These custodians escrow the traditional currency and issue the stablecoin on-chain. However, there are always risks involved that the centralized authority issuing fiat-collateralized stablecoins is not fully collateralizing them. Also, fiat-collateralized stablecoins are subject to regulatory risk. These risks may be in the form of mandatory KYC, blacklisting accounts, or even erasing funds. This causes an existential risk to platforms integrating with them.

  2. Crypto-collateralized: The crypto-collateralized stablecoins are issued on-chain via an over-collateralization mechanism. In this case, capital inefficiency is the drawback resulting from a sufficient buffer to protect against price volatility in the collateral. All supply requires a collateral excess which must be monitored for solvency. This limits the growth of decentralized stablecoins.

  3. Non-collateralized: The non-collateralized stablecoins are a compelling alternative. They are decentralized in issuance and enable unconstrained growth in supply. The current main mechanisms for achieving this are rebasing and seigniorage. Rebase is a protocol or a token that adjusts the circulating supply periodically or automatically in response to price fluctuations. Seigniorage models have supply adjustment dynamics to maintain the peg. In a time of high demand, the protocol issues new supply to a stakeholder group known as the seigniorage holders. In the time of low demand, there are deflationary mechanisms for contracting supply. The seigniorage models have two drawbacks. First, no liquidity or collateral is backing the peg. This can amplify volatility and create liquidity crises when these coins fall below their peg. Additionally, due to the unfairly centralized rewards, the community often disregards seigniorage stablecoins. 

As per the whitepaper, to solve the problems mentioned above, FEI Protocol combines the direct incentive model with protocol-controlled value (PCV) deployed as liquidity. These mechanisms combined create a stablecoin that is scalable, decentralized, liquid, and fair. PCV is a subtype of the total value locked (TVL), in which the assets locked into the smart contracts are outrightly owned by the platform. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain. TVL is the sum of all assets deposited in DeFi protocols earning yield, rewards, new coins, tokens, fixed income, etc. 

A direct incentive stablecoin involves both the usage and the trading activities of the stablecoin being incentivized, where penalties and rewards drive the price towards the peg. This includes at least one incentivized exchange acting as a hub. All other secondary markets and exchanges can arbitrage with the incentivized exchanges. As a result, this helps maintain the peg throughout the ecosystem. The direct incentive approach of the platform presents a promising improvement, including high liquidity via PCV, decentralized collateral, capital efficiency, strong peg, and fair distribution. Arbitrage is the process of buying an asset on one exchange and selling it simultaneously on another with a higher price.

History of Tribe (TRIBE)

Joey Santoro and Brianna Montgomery are the founders of the FEI Protocol.

How Are New Tribe (TRIBE) Tokens Created & Staked? 

FEI Protocol has staking pools in which TRIBE is earned over time. FEI Protocol staking allows the users to deposit multiple tokens to earn TRIBE. Each pool has an allocation of the overall staking rewards. At any given time, the rewards are split evenly amongst all the participants for each pool. 

For staking on the platform, the users can deposit liquidity assets (stake), claim earned TRIBE, earn TRIBE for a few blocks, and then withdraw staked tokens at will.

The goal of the staking pool involves:

  1. Access to TRIBE for early FEI holders 

  2. A way for FEI deployment rather than statically holding it 

  3. Providing more liquidity for TRIBE 

How Many Tribe (TRIBE) Tokens Are There?

TRIBE supply is fixed at one billion.

How to Buy Tribe (TRIBE)

The TRIBE token can be traded at an exchange, including Coinbase. It's simple, secure, and easy.

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FAQ

What is the current price of Tribe?

The price of 1 Tribe currently costs $0.22.

What is the market cap of Tribe?

The current market cap of Tribe is $99.65M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Tribe?

The all-time high of Tribe is $2.49. This all-time high is highest price paid for Tribe since it was launched.

What is the 24 hour trading volume of Tribe?

Over the last 24 hours, the trading volume of Tribe is $1.61M.

What other assets are similar to Tribe?

Assets that have a similar market cap to Tribe include Ultra, Orbs, MVL, and many others. To see a full list, see our comparable market cap assets.

How many Tribe are there?

The current circulating supply of Tribe is 453 million.

What is the typical holding time of Tribe?

The median time that Coinbase customers hold Tribe before selling it or sending it to another account or address is 8 days.

What is the relative popularity of Tribe?

Tribe ranks 145 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Tribe?

Currently, 59% of Coinbase users are buying Tribe. In other words, 59% of Coinbase customers have increased their net position in Tribe over the past 24 hours through trading.

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