Tribe
Crypto Overview
Overview
TRIBE is the governance token of the Fei Protocol, which was designed to create a decentralized stablecoin called FEI. The protocol was launched in 2021 by the Fei Labs team.
Intended Utility
TRIBE was created to serve as a governance token for the Fei Protocol ecosystem, allowing holders to vote on protocol changes and participate in the management of the FEI stablecoin system. Token holders could stake TRIBE to earn rewards and participate in protocol governance.
Actual Utility & Current Status
In August 2022, the Fei Protocol was discontinued following a governance vote. The protocol's assets were merged with Rari Capital, and the team initiated a redemption process for TRIBE token holders. The token no longer serves its original purpose, and trading continues only on secondary markets.
Token Distribution & Governance
The token distribution included allocations to the team, early investors, and the community. Following the protocol's discontinuation, remaining treasury assets were made available for redemption by TRIBE holders.
Business Model Analysis
The original business model involved creating a decentralized stablecoin system with community governance. While the model itself aligned with Islamic principles by avoiding interest-based mechanisms, the project has since been discontinued.
Crypto Impact
To assign a comfort level investing in Tribe from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Tribe.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.