What is the issuance and circulation of Tribe coins?

TRIBE coins, the native token of the Tribe DAO, are issued through initial distribution, block rewards, and lending rewards, with a total supply capped at 1 billion, and are actively traded on various cryptocurrency exchanges.

Nov 26, 2024 at 06:52 pm

What is the Issuance and Circulation of Tribe Coins?

Introduction

Tribe is a decentralized autonomous organization (DAO) that governs the lending and borrowing platform, TribeLending. The Tribe token (TRIBE) is the native token of the Tribe DAO and serves as a governance token, allowing holders to participate in decision-making and receive rewards. This article will provide a comprehensive overview of the issuance and circulation of TRIBE coins.

Issuance of TRIBE Coins

• Initial Distribution: Tribe coins were initially distributed through a fair launch event in February 2020. Approximately 70% of the total supply was allocated to the community, while the remaining 30% was reserved for the development team, investors, and advisors.
• Block Rewards: New TRIBE coins are issued as block rewards to validators who secure the Tribe network. The block reward rate is set at a fixed amount per block and gradually decreases over time through a halving mechanism.
• Lending Rewards: Users who lend their assets on TribeLending earn TRIBE coins as rewards. The rewards are proportional to the amount of assets lent and the duration of the loan.

Circulation of TRIBE Coins

• Token Distribution: The total supply of TRIBE coins is capped at 1 billion. As of March 2023, approximately 60% of the total supply is in circulation, with the remaining 40% held in reserve by the Tribe DAO.
• Trading Volume: TRIBE coins are actively traded on various cryptocurrency exchanges. The daily trading volume typically fluctuates between $10 million and $50 million, indicating a high level of market demand.

• Use Cases: TRIBE coins are primarily used for the following purposes:

  • Governance: TRIBE holders can vote on governance proposals that affect the development of Tribe DAO and TribeLending.
  • Staking: TRIBE holders can stake their coins to participate in the validation process and earn block rewards.
  • Lending and Borrowing: TRIBE coins can be used as collateral for loans on TribeLending.

Factors Influencing TRIBE Coin Price

• Demand and Supply: The supply and demand dynamics of TRIBE coins have a significant impact on its price. Increased demand from investors and users can drive up the price, while increased selling pressure can result in price declines.
• Market Sentiment: The overall sentiment in the cryptocurrency market can influence the price of TRIBE coins. Positive sentiment often leads to price increases, while negative sentiment can cause price dips.
• Development Roadmap: The Tribe DAO's development roadmap is a key factor to consider. Major announcements, technological advancements, and new partnerships can positively affect the price of TRIBE coins.
• Competition: TribeLending faces competition from other decentralized lending platforms, each with its own native tokens. The competitive landscape can influence the demand for TRIBE coins and its price.