Where to Buy Tribe (TRIBE) Coin

What is Tribe (TRIBE) Coin

Fei Protocol is a DeFi protocol that maintains an ETH-backed stablecoin and utilizes a dual token model. FEI is a stablecoin that uses a Uniswap LP as an official market and a stability mechanism called the Protocol Controlled Value (PCV) to keep FEI close to the dollar peg.

  • TRIBE is the governance token of Fei Protocol and has the following use cases:
    • Liquidity mining: Users can contribute to Uniswap’s FEI-TRIBE liquidity pool to earn a share of the DEX transaction fees. Note that this is only available for UniswapV2 liquidity providers.
    • Staking: Users can further stake FEI-TRIBE LP tokens in the Fei Protocol staking pool to earn TRIBE in return. No lockups on staked tokens.
    • Governance: Users can create and vote on governance proposals, or delegate their voting power to other addresses.
  • The protocol consists of the following major components working in conjunction:
    • Protocol controlled value (PCV): A protocol that owns the ETH deposited and locked in Uniswap FEI-ETH LP position as the ‘official market’. It re-weights the FEI peg by executing the following:
      • When FEI is below peg: PCV will withdraw 99% of the protocol-owned liquidity from the LP to buy FEI to bring the price up to peg. The remaining PCV will be resupplied as liquidity. Any excess FEI is burned.
      • When FEI is above peg: PCV will determine the difference between current and target price, which leads to an additional minting of FEI. The increase in circulating supply will push the FEI price back to par.
    • Re-weights: FEI reweights in 4-hour intervals and the minimum distance below peg is 0.5% before the PCV reweights Uniswap prices to maintain peg.
    • Redemption: Users can redeem non-staked or timelock FEI for ETH at $0.95. Every hour 5K ETH are made eligible for redemptions, total redeemable pool is 300K ETH.
  • As at August 24th 2021, the total supply of TRIBE is 1,000,000,000 and the current circulating supply is 453,448,622 (~45.34% of the total token supply).

How To Buy Tribe (TRIBE) Coin

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How Much is a Tribe (TRIBE) Coin

Tribe (TRIBE) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.

$ 0.329704
Tribe (TRIBE)

Tribe (TRIBE) Coin Review

You can learn more about Tribe (TRIBE) coin reviews and information on cryptocurrencies by visiting their official page available in the following.