Aurora Labs CEO is Dr. Alex Shevchenko, Ph.D. in physics and math, entrepreneur, blockchain enthusiast since 2015, developer of Bitfury’s Exonum and a strong believer of blockchain scalability solutions. Aurora Labs CTO is Arto Bendiken, autodidact, cypherpunk, entrepreneur, and prolific open-source author with 20+ years of professional software engineering experience working with organizations such as the European Space Agency (ESA) and the U.S. Navy’s Space and Naval Warfare Systems Command (SPAWAR). Aurora Labs Head of Security & Infrastructure is Frank Braun, Ph.D. in computer science with 20+ years experience in building complex software systems. Worked on scientific software, encrypted messaging systems, and digital currencies. Aurora Labs Engine Team Lead is Joshua J. Bouw, who has over 10 years of experience at the intersection of crypto-economic design, software development, and open-source ecosystem creation. Heralded as 'The Godfather of Proof of Stake' for his early role in the development of Proof of Stake Consensus Mechanisms. Aurora Labs Bridge Team Lead is Kirill Abramov, software engineer with over 6 years of experience in the development of high-performance software. Passionate about Blockchain space and has a rich experience developing custom blockchains, implementing apps for HW and building cross-chain solutions.

Max Supply is fixed to 1,000,000,000 tokens (one billion $AURORA). AURORA Token Generation Event is November 18, 2021. Unlocked tokens: * 1% of total supply is allocated for IDO, deployment of pools on AMMs, market making, early partnerships; * 1% is allocated to Aurora Labs to be used as incentives for project advisors; * 48% is kept on AuroraDAO balance for future projects; * 20% is kept in the community treasury; * 3% is allocated to Aurora Labs to be distributed linearly evenly to the delegators of Aurora validator on NEAR. Locked tokens: * 16% Aurora Labs long term incentives (may also be subject to vesting scheme); * 2% to early Aurora contributors (may also be subject to vesting scheme); * 9% Aurora Labs private round investors. The locked tokens are subjected to the unlocking scheme: 2 year unlocking scheme with linear unlock every 3 months and 6 months cliff starting the token launch date (25% unlocked after 6 months, then additional 12.5% after 9, 12, 15, 18, 21 and 24 months).

Aurora is a product that helps Ethereum users and dApps to easily move to the NEAR blockchain. It allows users to do two distinct things: upload and interact with Solidity smart contracts on NEAR blockchain and move assets (including ERC-20 tokens) between Ethereum, NEAR and Aurora via the Rainbow Bridge.. Aurora’s base token is ETH to deliver the best user experience and familiar tooling for developers. AURORA token is a governance token to ensure proper upgrades to the protocol. Aurora is governed by AuroraDAO which includes representatives from different ecosystems and sectors of the blockchain industry.

Zebec is bringing streaming finance technology to real world payroll, financial transactions, investments and more. Founded in 2021, Zebec has attracted $35 million in investments by Circle, Coinbase, Solana Ventures, Breyer Capital, Republic, and Lightspeed Venture Partners, among others. Today, Zebec services hundreds of web2 and web3 companies, runs thousands of continuous payment streams and powers next generation payroll tech. In effect, across its suite of real-time payroll, micropayments and on-and-off ramps through the payment card products, Zebec is a crypto payments superapp, integrating the blockchain into everyday lives. Zebec’s vision is to create a future where money is able to move more freely; giving individuals, businesses, investors, and teams faster and easier access to funds and tokens. To achieve this Zebec brings its cutting edge technology to the traditional payroll sector by investing in payroll service companies, through its investment arm - [Payroll Growth Partners](https://payrollgrowthpartners.com/) (PGP). The series of acquisitions and product launches under PGP's banner introduced new financial tools and services to the workforce, served by companies in the PGP portfolio. These tools include early wage access, financial tracking and management tools and direct payment card spending via the payroll app [WageLink](https://wagelink.io/). Additionally, through partnerships and direct integrations with [Circle](https://www.circle.com/en/) and [Stellar](https://stellar.org/), WageLink will enable employees to receive a portion of their salary in digital currency (USDC) and send it to families abroad swiftly and cost effectively in [USDC](https://coinmarketcap.com/currencies/usd-coin/) or [XLM](https://coinmarketcap.com/currencies/stellar/). Zebec’s current line-up of fintech products includes real-time payroll, a traditional payroll app with built-in web3 features, payment cards and treasury management for Web3 companies. All designed to bridge the gap between crypto and fiat payments and offer employees flexibility in how they receive their salaries. Zebec’s ecosystem and on- and off-chain user base has been growing rapidly, currently at 50,000 monthly users, expected to at least double by year’s end. Launched in late 2023, [Zebec Instant Card](https://card.zebec.io/), is the industry's first non-custodial, multi-chain, no fees card. It is available in 138 countries around the world and is supported by global [Visa and Mastercard networks](https://card.zebec.io/visa-master). Zebec Instant Card allows users to seamlessly and instantly spend cryptocurrency in fiat on everyday purchases without transaction fees. Initially started as a decentralized streaming protocol on Solana blockchain, Zebec has since expanded to other blockchains such as BNB Chain and NEAR, and is in the process of building a multi-chain ecosystem to power traditional and web3 payroll applications. Through [Zebec Labs](https://zebec.io/zebec-labs/) - its innovation hub and incubator for partner projects, protocols, and ventures - Zebec launched its own L3 chain - Nautilus. [Nautilus Chain](https://www.nautchain.xyz/) is a high-performance modular blockchain, powerful enough to support Zebec’s global payments flows. $ZBC tokenomics $ZBC token is Zebec’s utility and governance token. Holders of $ZBC - members of Zebec DAO - participate in determining the future of the protocol, vote on governance, administration and priorities. Additional benefits and incentives for ZBC holders include, but not limited to, earning rewards, access to premium card products and discounted streaming on Zebec. The $ZBC token is deflationary, its total supply decreases over time. ZBC is used for gas fees on the Nautilus chain. See DAO Treasury status [here](https://dao.zebec.io/#/). $ZBC token is traded on numerous exchanges globally, on Kucoin, Bybit, OKX, Crypto.com, Huobi, Gate, BitMart, Bitget, Gemini, Raydium, Orca, Pancake Swap, OpenOcean, BitHumb, LBank, Solstarter, Cropper, Solster, to name a few, and has a history of being among top movers. Follow News from Zebec via [Medium](https://medium.com/zebec-protocol) chanel and [@Zebec_HQ](https://twitter.com/Zebec_HQ) on twitter.

Request (REQ) can be bought and sold on multiple exchanges, including: [Binance](https://coinmarketcap.com/exchanges/binance/), [Coinbase](https://coinmarketcap.com/exchanges/coinbase-exchange/), [KuCoin](https://coinmarketcap.com/exchanges/kucoin/) and more.

REQ is an ERC-20 token based on the Ethereum platform. The requests made with REQ are stored on an immutable digital ledger. This ledger also serves as proof for all auditing purposes.

REQ is an[ ERC-20](https://coinmarketcap.com/currencies/erc20/) token that can be spent to use the Request Network. The REQ tokens’ initial supply was 1,000,000,000. So far, the supply successfully decreased proportionally to the adoption down to 999,877,117. The REQ tokens are available to exchange on open markets through mainstream cryptocurrency exchanges. Decentralized alternatives also support REQ, allowing you to seamlessly exchange REQ directly from your own wallet. Always verify that the REQ address is this one: 0x8f8221afbb33998d8584a2b05749ba73c37a938a. On Polygon, its address is 0xb25e20de2f2ebb4cffd4d16a55c7b395e8a94762.

The payments on Request are performed by simply sending an invoice through the blockchain; the counterparty can then detect the request and pay it with one click in a peer-to-peer manner. The fact that the payments are push-generated instead of pull-generated is one of Request’s key advantages. There is no need for users to share their account information. The use of blockchain technology also eliminates the need for third-party processors, resulting in a reduction in transaction costs. Additionally, apps building stuff people want on top of Request Network open-source protocol provide a key benefit to their users. Indeed, users can interact with a suite of financial tools which work with each other. It's the opposite of the capitalistic and siloed web2 industry because here, apps work with each other. For example, a company originates an invoice from an app. A 2nd app receives the payment request, allowing it to be paid. Then the invoice can draw on instant financing on a third DeFi app The Request Network leverages decentralized blockchains such as Ethereum and IPFS for an increased level of security, privacy and data ownership for the end-user. The platform does have transaction fees, which is a cost that is required to broadcast a change to the blockchain network. The transaction fees are used to incentivize miners to reach consensus on the state of the network. REQ can be stored on wallets such as Metamask, Argent, MyEtherWallet, Ledger, imToken, Trezor, Atomic Wallet, Jaxx Liberty and Trust Wallet.

Request Network is a decentralized protocol. Anyone can contribute to the protocol's development and submit pull requests on Github. The founders of Request are Christophe Lassuyt and Etienne Tatur. Christophe Lassuyt is currently the main community manager at Request. He is a Ycombinator Alumni, and has been an entrepreneur in the crypto and web3 industries for +8 years. Etienne Tatur is the chief technical officer of Request. Prior to this, he also participated in Ycombinator Winter 2017, and has been creating projects in the web3 industry since 2014.

REQ is listed on Coinbase, Binance, crypto.com, Bancor and many other exchanges. The REQ token powers the Request Network open-source protocol via a few mechanisms: anti-spam; governance; staking; discounts; independency. The Request (REQ) utility token, launched in 2017, ensures the performance and stability of the Request Network. The Request Network itself is an [Ethereum](https://coinmarketcap.com/currencies/ethereum/)-based decentralized payment system where anyone can request a payment and receive money through secure means. It removes the requirement for third parties in order to provide a cheaper, more secure payment solution that works with all global currencies. When a user creates a request for payment, they define to which address the payment needs to be allocated and what the amount is. The user can also define the terms and conditions of the payment, upgrading a simple request into an invoice. Once this is completed, the user can share their request to be paid by their counterparty. Every step is documented and stored on the Request network, allowing everyone involved to easily keep track of all the invoices and payments for accounting purposes. Request is also integrated with legislation across the world to remain compliant with the trade laws of each individual country.

**inSure DeFi** is a community-based crypto asset insurance ecosystem, where users can insure their crypto-portfolio by buying SURE tokens with fiat and other cryptocurrencies. inSure is designed to distribute crypto ownership risks amongst a liquidity pool, with insurance premiums determined by a Dynamic Pricing Model that leverages Chainlink. Capital required to back the risks at any point in time is based on the market pricing of SURE tokens, as well as community demand for insurance of crypto portfolios. A decentralized support system called the inSure DAO is also used to diligently process all the insurance claims, wherein voters make sure that any fraudulent claims are flagged and only valid claims are fulfilled. **inSure DeFi is a Decentralized Insurance Ecosystem**, trusted by thousands of community members to protect their crypto portfolios from scams, exchange closures, and drastic devaluations. inSure DeFi provides insurance solutions for the crypto space to stabilize and secure Crypto & DeFi portfolios. ### Competitive Advantage of inSure A key factor in making a good insurance platform is the health of financial information, such as the usage of funds and whether there are sufficient premium floats to pay potential claims. Since the blockchain is a distributed ledger, each node has the same copy of the data. When the data changes, every insured person can see the synchronized and updated data, making the operation of each fund open and transparent. Therefore, there will be a dedicated module on the homepage of the website to disclose relevant information, and provide an accurate real-time financial status every quarter such as risk factors, minimum capital requirements, historical data on token prices, a summary of claims assessment, and the number of locked and traded tokens. ### Economic Model - How it works inSure’s Crypto insurance is based on: I. **Dynamic Pricing Model**, to find the right market price via supply and demand; II. **Capital Model**, to secure the capital required to back the risks at any points of time; III. **inSure DAO voting mechanism**, to make sure every claim is handled in a permissionless and transparent manner. ### Capital Model Insurance is a highly leveraged industry; therefore, the primary concern of the insurance capital model is to calculate the capital required to guarantee the solvency of the risk pool to some arbitrary and high confidence level like 99.9% in the latest EIOPA’s Solvency II framework. The Capital Model is used to calculate the minimum capital the fund needs to hold, which is used to determine: I. The capital locked in the Capital Pool II. The staking power used in the Staking stage. ### Surplus Pool The surplus pool will accrue whenever an insurance premium is paid. 40% of the premium will be added into the surplus pool. Another 10% will be reserved till the expiration of the contract. If there is no claim, it will add into the surplus pool. The surplus pool will grow over time and will be utilized to cover insurance claims first. When the surplus pool cannot cover all the claims, the capital pool will be used to pay the rest. When the surplus pool grows large enough, the SURE holders will receive % from the staked SURE to better incentivise the increase of the inSure Staked Pool. inSure holders can stake on different DEXs and earn % from each trade in addition to the insurance that inSure plans provide. For the first phase, we will focus on the risk against scams, devaluations and stolen funds. The more less-correlated business will be introduced to deliver higher returns to token holders at the community’s vote. ### Governed by Community Under normal circumstances, all operations on inSure can be completed by smart contracts. But in reality, in order to take into account the interests of users, better achieve decentralization effects, and ensure the process to be more transparent, decisions of certain events will require the community to vote. Therefore, the platform will set up an inSure DAO organization to facilitate such decisions and manage extreme situations. It should be noted that inSure DAO does not have the custody of the fund pool, nor can it release funds to any specific person. Each committee member may be replaced by voting at any time. inSure DAO will work in accordance with the two core principles of sustainability (that ensures the interests of community members by ensuring the sustainability of the overall funding pool) and growth (promoting sustainable premium increases and inSure DAO membership growth). The members of the inSure DAO organization include several people with specific expertise in insurance, co-governance, and blockchain development. Some powers that committee members have are: I. Reaching consensus to implement specific code that cannot be automatically deployed; II. Punishing bad actors within the inSure ecosystem (such as malicious claims, false claims, etc.) by burning SURE tokens. III. The power to implement emergency suspension under special circumstances. **inSure DAO** members can negotiate and propose relevant proposals to the benefit of the inSure ecosystem. The voting proposals must include clear voting options and inSure DAO's recommendations. Then each community member is given a period of time to vote, and the result with a majority decision will be implemented. Any inSure holder can become a member of inSure DAO. ### Future Integration for Automated Claim Processing of Stolen Funds and Scam Events using Google Cloud Platform (AutoML & Cloud Inference) In addition to using Chainlink’s Historical Price Data, inSure DeFI is working on a hybrid on-chain/off-chain application combining Chainlink and Google Cloud AI. This allows inSure to process on-chain data related to insurable events (i.e.; stolen funds and scams) using Google AutoML, and then relay its outputs on-chain using Chainlink. Chainlink’s ability to connect with any external API allows GET calls to retrieve the data/results from processing and deliver them directly to smart contracts. inSure DeFi will use this unique Chainlink feature to leverage Google Cloud Platform’s ML services (such as AutoML and Cloud Inference API) for processing publicly available information and data on the blockchain while feeding those decisions to the smart-contract via Chainlink oracles to trigger an automated fulfillment of insurance claims. After reviewing various oracle solutions, we elected to use Chainlink because of its time-tested security and flexibility to call any off-chain API. As the most widely-used oracle solution in the blockchain industry, Chainlink already secures over $10 billion dollars in on-chain value across DeFi, including leading projects like Aave, Synthetix, and more. Its network is backed by a large collection of secure node operators run by leading blockchain DevOps, which are aggregated into decentralized oracle networks to provide highly available, accurate, and tamperproof data feeds. Additionally, the historical price data being used by inSure consists of volume-adjusted global prices, aggregated from across all relevant CEXs and DEXs to ensure a high level of accuracy. By combining its high-quality data and ability to connect to Big Data warehouses off-chain, inSure can build more robust and refined insurance products that cover various crypto portfolio risks.

We would like to describe MARBLEX in the perspective of technology applied to the MBX token. The MBX token is a Klaytn Compatible Token (“KCT”) based on Klaytn blockchain. The Klaytn technology is designed to provide high performance extensively and thus features high transaction processing. At the same time, KCT is based on the Istanbul BFT consensus algorithm and is a mainnet that assures reliability and transparency. Based on the strength of KCT, MBX can also process the high transaction of game content quickly and provide reliability to users under transparent operation/management. On the other hand, in terms of usage, the MBX token is used within the MARBLEX ecosystem where users encounter key ecosystem creators mostly around game tokens and MBX tokens. Key parties are publishers, game developers, and service providers. With the introduction of the MARBLEx token system, to the existing gaming business ecosystem, the role of a service provider was added. Within the game token structure enabled by the service provider, users can experience not only quality content provided by publishers and developers but the token economy based thereon. While playing games, users will have opportunities for profit-generating activities. For more information, you can find as follows: Netmarble, mother company of MARBLEx, has been leading the global game market with innovative attempts since its establishment in 2000. It is a global game publisher that has produced a number of box office hits such as “Cross Worlds,” “Seven Knights,” “The Seven Deadly Sins,” etc. At the 5th Netmarble Together with Press (NTP) held on January 27, they raised expectations by unveiling new business strategies under the theme of blockchain and metabus, including a total of 20 major lineups. As a game publisher of MBX, Netmarble continues to provide high-quality game content to the MBX ecosystem, aiming for an ecosystem where users can experience the original fun of the game and expect reasonable rewards. MBX is the key currency of the Netmarble blockchain ecosystem and is based on the Klaytn mainnet. In the MBX ecosystem where all games are connected, free token exchange and swap are possible, and it will be linked with various games to create a new blockchain game ecosystem through MBX Wallet. In addition, the MBX ecosystem plans to connect with games of various genres and expand to NFT and metaverse in the future. In Netmarble’s own MBX-based blockchain ecosystem, MBX will play a key role in focusing on “fun,” the essence of the game, and providing user participation and rational rewards.

Approximate Mining Periods are Weekly between Monday - Friday and are distributed Wednesday the proceeding week. Contributors are rewarded for mapping unmapped roads and for updating old data (freshness). Additionally, they are rewarded when data is consumed by customers. The magnitude of rewards varies per region depending on the Multiplier. Please consult the Hivemapper explorer for details: https://hivemapper.com/explorer/.

Building a global digital street-level imagery map is one thing, but keeping track of and mapping physical changes around the globe through time is far more difficult to achieve. One might ask how this compares to Google Maps. Although Google Maps does a reasonable job of creating initial street-level coverage, they are unable to record changes to maps in a uniform way across the globe. Doing so would require vast amounts of people and resources that are currently unfeasible. Additionally, Google Maps uses expensive cameras, vehicles, and manpower solely for mapping. This cost is passed down to the customer. Hivemapper takes a different approach. It leverages a vast number of people that already drive extensively during their day-to-day job to collect street-level imagery. This has two primary upsides; * Lower Cost Maps - With Hivemapper mapping is a by-product and not the primary activity (People already drive for their main occupation). The primary result of this is a lower cost of service to access the data. * More Up-To-Date Maps - Because anyone can join Hivemapper through the acquisition of relatively inexpensive hardware, more contributors contributing to the map will result in the same location being mapped more frequently. * Higher Quality Maps - For many locations, Google Maps only passes by a specific location once every few years. If atmospheric and lighting conditions aren't ideal, it might take years before better imagery becomes available.

Hivemapper was founded by Ariel Seidman (Co-Founder & CEO) and Evan Moss (Co-Founder & CTO).

Launched in November 2022, Hivemapper (HONEY) is a decentralized global mapping network that rewards its contributors for collecting high-volume 4K street-level imagery with dashcams through a Drive-to-Earn model. Imagery acquisition devices come in the form of 4k Dashcams, which are a combination of a camera that records street-level imagery and a blockchain mining device. Users who operate dashcams thus mine and earn rewards in Hivemapper's native cryptocurrency token, HONEY.

Launched on July 4, 2019. FLEX is the coin that powers CoinFLEX, a physically settled futures exchange. CoinFLEX claims to average around 200-400mm USD of trading volume daily.

Auction as a Service - Bounce’s fully decentralized auction platform uses blockchain technology to ensure more transparent, efficient, and accessible auctioning, bidding, and buying processes for Web3 users.

TRIBE is available on [UniSwapV2](https://coinmarketcap.com/de/exchanges/uniswap-v2/), [Binance](https://coinmarketcap.com/de/exchanges/binance/), [Huobi,](https://coinmarketcap.com/de/exchanges/huobi-global/) [Coinbase](https://coinmarketcap.com/de/exchanges/coinbase-exchange/), and [Gate.io](https://coinmarketcap.com/exchanges/gate-io/).

Treibe launched on March, 31, 2021, on [UniSwapV2](https://coinmarketcap.com/exchanges/uniswap-v2/).

TRIBE and FEI are both [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) tokens on Ethereum. The network is governed as DAO and incorporates different roles: governor, minter, burner, PCV controller, and guardian. All of these are also community-governed. ERC-20 is a token standard most new tokens follow when publishing on the Ethereum blockchain. [Ethereum](https://coinmarketcap.com/currencies/ethereum/) is one of the most popular blockchains for DAOs and is secured by a [proof-of-work ](https://coinmarketcap.com/alexandria/glossary/proof-of-work-pow)consensus mechanism that requires miners to mine new Ether. A set of decentralized nodes validates transactions and secures the Ethereum blockchain. After its public launch, Tribe briefly stopped trading of the stablecoin to fix a security breach that would have allowed attackers to withdraw a significant portion of ETH from the ETH-FEI Uniswap pool. The breach was sealed before any damage was done.

The total supply of TRIBE is 1 billion. The current circulating supply of TRIBE is 415 million. 80% is distributed to the DAO, 15% to the team with a back-weighted time-lock of five years, and 5% to investors with a linear time-lock.

Fei identified the capital inefficiency of crypto-collateralized stablecoins and the “mercenary capital” phenomenon as the main obstacle to designing a fully decentralized stablecoin. The former implies that more capital has to be deployed than can enter the system, which by design limits the growth potential of a system using crypto-backed stablecoins. Furthermore, coins like [DAI](https://coinmarketcap.com/currencies/multi-collateral-dai/) suffer from liquidity providers always being on the hunt for the best yield and, consequently, have a limited scope of autonomy. FEI introduces the concept of product-controlled value (PCV). The Tribe DAO governing the stablecoin issued FEI at a subsidized rate for Ether at its launch to generate a pool of Ether as its treasury. Tribe then supplied a part of this ETH with freshly minted FEI in an ETH-FEI liquidity pool on Uniswap to enable trading of the stablecoin. While users can buy FEI from the Tribe DAO, they cannot sell FEI back to it but have to sell FEI on the open market. Stability is maintained through an incentive system. If the price of FEI exceeds the peg, arbitrageurs can sell ETH to the Tribe DAO and sell their FEI on Uniswap to generate a profit. If the price is below the peg, the incentives Tribe installed come into play. FEI buyers in the Uniswap liquidity pool receive a rebate to restore the peg, while sellers have to pay this rebate and an excess penalty to incentivize the peg to be restored. The further away from the peg the price of FEI has moved, the bigger the rebates and penalties, making it highly unprofitable for sellers to sell discounted FEI. Tribe can use its Ether reserves to buy back FEI and burn excess FEI to reduce supply as a last resort. Tribe merely acts as a governing body with the following functions: * Appoint Minter and Burner contracts (including new bonding curves) * Adjust Scale target and allocation rule on bonding curves * Adjust incentive time-weight growth rate * Percent reward for reweight peg restoration * Reweighting any of the peg Uniswap pools

Tribe is run as a [DAO](https://coinmarketcap.com/alexandria/glossary/decentralized-autonomous-organizations-dao), meaning its governed by its community in a fully decentralized manner through smart contracts. The Fei stablecoin governed by the DAO was founded by a team of Bay Area residents, namely Joey Santoro, Brianna Montgomery, and Sebastian Delgado and launched in March 2021. Santoro is the CEO of Fei Labs and was a software engineer at Okta Inc with a degree in computer science from Duke University. Montgomery, the project’s business lead, worked at ConsenSys, a blockchain studio, prior to being involved with Fei Labs. Delgado served more than two years at Dharma Labs, a DeFi project and graduated from UC Berkeley. Fei Labs is backed by several VC funds, such as Andreessen Horowitz and Coinbase Ventures.

[Tribe](https://coinmarketcap.com/currencies/tribe/) is the governance token for the [FEI](https://coinmarketcap.com/currencies/fei-protocol/) [algorithmic stablecoin](https://coinmarketcap.com/alexandria/glossary/algorithmic-stablecoin). Fei aims to provide a new decentralized solution to the stablecoin market. Existing stablecoins are either fiat-collateralized and, therefore, centralized or crypto-collateralized, making them capital-inefficient. Other algorithmic stablecoins suffer from no liquidity backing the peg, making them inherently unstable or centralize rewards to seigniorage stakeholders. FEI proposes a model similar in design to fractional reserve central banking, where the protocol issues FEI for a subsidized price against [ETH](https://coinmarketcap.com/currencies/ethereum/) at its genesis event and subsequently uses the incurred Ether as a treasury to maintain the peg. TRIBE is the governance token of the DAO controlling the governance of FEI and can be used in governance proposals or swapped for FEI in a [UniSwapV2](https://coinmarketcap.com/exchanges/uniswap-v2/) [liquidity pool](https://coinmarketcap.com/alexandria/glossary/liquidity-pool).

There are several cryptocurrency exchanges where users can purchase Steem tokens, SteemPower, or Steem Dollars (SBD), or even convert them to local currencies. A user without an account can buy through crypto exchanges, for instance, [Binance](https://coinmarketcap.com/exchanges/binance/). In addition, STEEM and Steem Dollars can easily be traded for bitcoin, which can then be converted to fiat currencies. [Click here](https://coinmarketcap.com/alexandria/categories/blog) to get more information about crypto on the CMC blog.

After the company was bought by Justin Sun, founder of Tron platform, there was a restructuring of Steem’s operations. Therefore, new blocks are no longer created through mining and the network does not use proof-of-work. The protocol does not rely on [proof-of-work](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake) to create new blocks but schedules witnesses to create a block every three seconds. However, the Steem blockchain uses delegated proof-of-stake to increase transaction speed on the platform and make it more scalable. Witnesses are rewarded with Steem Power for every block created.

Token Economics Unlike other blockchains where new coins are created through mining, Steem distributes the bulk of its coins (STEEM) to the rewards pool. STEEM is the primary coin of the protocol. The pool distributes tokens to users on the platform based on their input. Witnesses (block-creating accounts) add new blocks to the Steem blockchain every three seconds. Therefore, STEEM is produced by the network daily and the new coins are distributed in this manner: * Content curators and authors receive 75% of the new coins created. * Users with Steem Power holdings (another Steem cryptocurrency) are allocated 15% of the coins. * The remaining 10% is awarded to witnesses. The other two cryptocurrencies apart from STEEM are the [Steem Dollars (SBD)](https://coinmarketcap.com/currencies/steem-dollars/) and Steem Power (SP).

Many traditional social media companies have made lots of money through the content produced by their users. However, what sets Steem apart is the support it offers to its users by rewarding them for their valuable input to the platform. One unique feature of [the network](https://coinmarketcap.com/currencies/steem/social/) is that it is based on blockchain technology —making it the first of its kind. As a result, it is non-custodial and decentralized, with no downtime or data abuse, and the platform’s data are perfectly secured too. Also, users are paid in cryptocurrencies for participating on the platform. Steem is guided by one key principle: that those who contribute to a venture should be paid by the owners, just like startups do by allocating shares during funding rounds. Another core belief is to serve its community members by rendering various financial services and opportunities.

Ned Scott, together with a blockchain developer Dan Larimer, launched the first app on Steem blockchain in January, called Steemit. The app is similar to other social network apps except that it is based on blockchain technology, hence making it a decentralized and non-custodial app. The network is without the common data-related problems faced by traditional social platforms.