![]() ![]() Notable individuals involved include Joey Santoro, Brianna Montgomery and Sebastian Delgado. Tribe was founded by a team of entrepreneurs in San Francisco, California. The model, one which is designed around the current reserve banking system, also allows the project to support other decentralised autonomous organisations (DAOs) by providing liquidity in exchange and lending markets.įurthermore, the Fei Protocol, due to the fact it only holds non-centralised crypto assets, claims to be entirely decentralised. So how does the Fei Protocol work?ĭefining itself as a “decentralised, scalable and DeFi-native stablecoin protocol”, Fei algorithmically allocates assets in protocol-controlled valued (also known as PCV) to earn yield and provide liquidity. Holders of Tribe cryptocurrency can vote on all areas related to the running of the Protocol, including appointing minter and burner contracts, adjusting scale target and allocation rules on bonding curves and adjusting incentive time-weight growth rate. While TRIBE is volatile, FEI, due to its function as a stablecoin, should be pegged as close to $1 as possible. Overview of TribeĪs mentioned previously, the Tribe cryptocurrency is the governance token for the Fei Protocol. ![]() Will the coin’s prospects improve over 2022?īefore looking at some Tribe price predictions, let’s take a quick overview of the coin. ![]() While stablecoins have no doubt gained market traction, even amid regulators’ intensifying calls for rules to be tightened, Tribe has not performed particularly well over 2021. The Fei Protocol, for which TRIBE is the governance token, claims to have developed an alternative solution that is efficient, secure and scalable. From fiat-backed stablecoins, which by virtue of being pegged to a central currency render them no longer decentralised, to crypto-backed stablecoins that are plagued by capital inefficiencies and instability, most stablecoins are, according to the project, simply not sufficient. The majority of stablecoins currently on the market, Fei Protocol argues, are racked with problems. Tribe coin price prediction – an expert opinion. ![]()
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January 2023
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