The Fei Protocol will begin fully decentralized from day one with a DAO. The TRIBE token controls the DAO. TRIBE owners will have the right to speak on matters such as adding new curves to new tokens or adjusting the price functions of the existing curve(s), and adjusting the PCV allocation for incoming funds or existing PCV.
What is Tribe (TRIBE)?
The Tribe coin is the Ethereum-based token of the FEI protocol, indexed to a fixed value of one dollar. The community token is the main token that governs the FEI protocol. TRIBE can also be defined as a minimized governance token focused on peg maintenance through upgrades and integrations.
The Fei Protocol (TRIBE) is a DeFi protocol that uses a dual token model to maintain an ETH-backed stablecoin and employs a stability mechanism called Protocol Controlled Value (PCV) to keep FEI close to the dollar rate as its official market. TRIBE is the platform’s governance token and has the following use cases:
- Liquidity mining: Users can contribute to Uniswap’s FEI-TRIBE liquidity pool to earn a share of DEX transaction fees. It is worth noting that this is only applicable to UniswapV2 liquidity providers.
- Staking: Users can stake more FEI-TRIBE LP tokens in the Fei Protocol stake pool to earn TRIBE in return. There is no lock on the staked tokens.
- Governance: Users can create and vote on governance proposals or delegate their voting rights to other addresses.
In addition, the project has a stablecoin called FEI. FEI is described as a new type of stablecoin. Claimed to be more capital efficient, FEI has a fair distribution and is promoted as completely decentralized. The protocol uses the value it controls to maintain liquid secondary markets.
If the FEI price rises above the stable price, the PCV will print additional FEI by determining the difference between the current and target prices. According to statements, the increase in circulating supply will pull the FEI price back to the stable price level.
How to Buy Tribe Coin?
Tribe Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.
To buy Tribe Coin, one must first sign up for Binance and then send fiat currency. After sending a fiat currency such as US dollars, a purchase transaction can be executed in the Bitcoin (BTC), Binance Coin (BNB), BUSD, and Tether (USDT) Tribe trading pairs where Tribe Coin is traded.
Additionally, users can place a buy order not only at the market price but also at a lower price on Binance. To do this, it suffices to use the Limit tab and enter the amount and price you want to buy.
