| General information | |
|---|---|
| Global rank: | 226 |
| Name: |
Tribe |
| Symbol: | TRIBE |
| Current coin price (SCR): | 5.99 ₨ |
| Last hour: | arrow_upward0.120 % |
| Last 24 hours: | arrow_upward4.86 % |
| Last 7 days: | -10.30 %trending_down |
| Capitalisation (SCR): | 3 242 117 342.99 ₨ |
| Volume 24h (SCR): | 127 711.88 ₨ |
| Available supply: | 541 087 234.00 TRIBE |
| Total coin supply: | -1 TRIBE |
| Start date: | 2021-03-28 |
Tribe/Seychellois Rupee (TRIBE/SCR) price chart
Tribe/Seychellois Rupee (TRIBE/SCR) capitalisation and volume charts
Tribe is a decentralized financial ecosystem governed by Tribe DAO. Originating from a merger between Rari Capital and Fei Protocol, Tribe DAO aims to be a comprehensive hub for financial and liquidity services catering to all DAOs in the decentralized finance (DeFi) space. It champions a permissionless infrastructure and oversees multiple protocols, including Fei Protocol, Rari Capital Fuse, Turbo, and Midas Capital. Tribe DAO is also at the forefront of developing open-source infrastructure tools such as ERC-4626, Flywheel, and Check the Chain.
Tribe DAO is a collaborative effort spearheaded by Joey Santoro, the founder of Fei Protocol, and Jai Bhavnani, the creator of Rari Capital. The merger of these two entities culminated in the establishment of Tribe DAO, a robust DeFi ecosystem governed by its native token, $TRIBE.
$TRIBE serves as the governance token within the Tribe ecosystem and primarily manages the Fei Protocol. The governance framework allows for minimal intervention in peg maintenance while placing significant emphasis on upgrades and integrations. Token holders have the ability to create and vote on various proposals, subject to a threshold of 2.5M $TRIBE for proposal initiation and 25M $TRIBE for reaching a quorum.
Tribe DAO exerts control over several protocols and services, listed as follows:
Fei Protocol: A decentralized stablecoin with a $1 USD peg, maintained through Protocol Controlled Value (PCV).Rari Capital Fuse: An open lending and interest rate protocol.Turbo: Known as Tribe Turbo, it is a FEI liquidity accelerator and yield-sharing protocol.Midas Capital: A multichain lending and interest rate protocol, built on the foundations of Fuse.
In addition to these, Tribe DAO exercises high-level control functions, such as reallocating PCV, minting FEI, and defining new access roles. Its objectives are multifaceted, encompassing the defense of the FEI stablecoin peg, enhancing utility and liquidity of its products, and enabling growth through yield farming mechanisms.
$TRIBE also plays a dual role in insuring against reserve shortfalls. If the PCV falls below 100% collateralization, an on-chain recovery mechanism triggers, issuing new $TRIBE tokens to buy back FEI debt. In the event of a surplus, the protocol purchases $TRIBE from the open market using FEI.
Holding and utilizing $TRIBE grants participants not just governance capabilities but also the advantage of benefiting from the protocol's productivity. This positions $TRIBE as a cornerstone in the Tribe DAO's decentralized financial ecosystem.