Tribe (TRIBE)
| Market Cap | $100,969,357 |
|---|---|
| Trading Volume | $1,390,250 |
| Volume / Market Cap | 0.0138 |
| Total Supply | 1,000,000,000 TRIBE |
| Max Supply | 1,000,000,000 TRIBE |
Tribe is currently trading at $0.2227, after a price change of 2.65% in the last 24 hours.
Ranked as cryptocurrency #178 by capitalization today, TRIBE market cap is valued at $100,969,357. TRIBE trading volume reached $1,390,250 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on TRIBE coin price prediction page.
What is Tribe?
Tribe token is a governance cryptocurrency and the second asset powering the Fei protocol. Fei manages a liquid market in which ETHFEI is pegged to ETHUSD price. The FEI stablecoin peg is achieved through direct incentives, which apply rewards and burn penalties. A direct incentive stablecoin incentivizes the trading activities and the usage of the stablecoin. FEI’s model allows for issuing subsidized prices against ether and uses the ether as a treasury reserve for sustaining the peg. Tribe can use its ether reserves to repurchase FEI and burn to curb supply as the last alternative.
TRIBE is an ERC20 standardized token based on Ethereum. The network is governed through a decentralized autonomous organization. There are currently 453,448,622 circulating TRIBE tokens from a total supply of 1 billion and a matching hard cap. From the supply, 80% is set aside for the DAO, 15% for the team, and 5% for the investors.
TRIBE is the governance token controlling the protocol, where holders can delegate votes. FEI governance decides on the appointment of minter and burner contracts and rewards for determining peg resetting. FEI was launched in 2021 by a team of developers, including Joey Santoro, Brianna Montgomery, and Sebastian Delgado.