• About Us
  • Privacy Policy
  • Contact Us
Coinpress
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO
No Result
View All Result
coinpress
No Result
View All Result
Home Press Release

TRIBUTE: The Community Controlled DeFi Platform with Deflationary Mechanism

by Press Release
September 18, 2020
in Press Release
0
TRIBUTE: The Community Controlled DeFi Platform with Deflationary Mechanism
0
SHARES
19
VIEWS
Share on FacebookShare on Twitter

TRIBUTE (TRBT) is a deflationary DeFi platform that uses game theory analysis and social influence to create an exciting and unique economic landscape. 

The TRBT ERC20 token follows a liquidity distribution mechanism called “Proof of Decentralized Liquidity” (PoDL), with about $1M in liquidity currently locked in the protocol. 

READ ALSO

January 2023 Mosdex Updates – Crypto Arbitrage Platform Announces Various Developments To Fuel Growth

Revolutionize Your Trading Strategy with NeuralNet bot: The AI-Powered Trading Bot

This model allows users to have a direct share in stabilizing the TRBT price, which is currently holding steady at $9.65 on CoinMarketCap. 

The platform saw a $3M trading volume on its first day, with 640 unique wallets holding TRBT in 4 days. In the past few days, about 4% of the total token supply was burned. This high burn rate creates an incentive to hold the token by bolstering the circulation’s token demand. 

The Tribute ecosystem already has three dApps at its disposal; conTRIBUTE, ENFORCED TRIBUTE, and TRIBUTE TO LIQUIDITY. These dApps give the project a rare aspect of instant utility in the DeFi space.

Moreover, these dApps create a separate incentive to interact with the project’s native token and maintain a steady flow of TRBT moving through the ecosystem.

Why is TRIBUTE Unique in DeFi?

Tribute features fully decentralized elements that delegate full ownership and control to its users, allowing them to choose which dApps integrate into the platform. The team has no dev fees on any of the dApps. 

The project has started building upon the starting suite of dApps with the long-term vision of outlining longer-term dApp incorporating governance. 

The first dApp, conTRIBUTE, is well funded and has an established token distribution model which rewards TRIBUTE token holders and staked users via a “synergistic method.” 50% is sent to conTRIBUTE as dividends to the stakers directly.

The dApp’s solid distribution model guarantees that 5% of all buys and 15% of all sells into conTRIBUTE are disbursed to players as dividends. Each user gets rewards that are proportionate to their percentage share, with 

In the past few days, 11% of the total token supply was staked in conTRIBUTE. Holders utilizing the dApp earned $51,000 dividend rewards, with $730,000 worth of tokens now remaining.

Moreover, the conTRIBUTE PoDL concept offers TRBT users access to initial liquidity after 100 days via a Decentralized Autonomous Organization (DAO). 

TRIBUTE’s Deflationary Mechanism Bolsters Token Demand

The project’s ENFORCED TRIBUTE dApp uses a solid distribution model with an initial supply of a scarce 75,000 tokens. 

Every 12 hours, any user can trigger a smart contract to transfer 10,000 TRBT tokens, which go into a secondary contract within the dApp. 

The top 50 holders receive 5% of the total number of tokens transferred, while 500 TRBT are burned instantly, as per the project’s whitepaper. 

This process repeats itself after 12 hours, where the same contract transfers 10,000 tokens from the secondary contract to the initial one and burns 500 TRBT while triggering a reward drop of 5%. 

In this way, the dApp creates an increased sense of scarcity in an already scarce economy, bolstering the circulation’s token demand. The reward and burn process creates a self-cycling and hyper deflationary ecosystem. 

The TRIBUTE Lottery Rewards System

The final dApp at launch, TRIBUTE TO LIQUIDITY, further implements the PoDL mechanism by granting the community members full control of the DeFi protocol.

It does this via a lottery system in which users can purchase tickets using TRBT to enter into a daily raffle. The raffle utilizes a secure and trust-less algorithm to pick one lucky winner. 

50% of all TRBT entered into the lottery is burned, creating a hyper deflationary mechanism into the platform’s smart contract. 

Rewards issued for the lottery are a percentage of the total number of tokens controlling the TRBT/ETH liquidity pair on Uniswap. 

The DeFi Platform for Community Development

The TRBT project promises to solve many of the problems facing DeFi by building an ecosystem that focuses on community-driven growth. The Tribute team announced different partnerships already, with more collaborations expected soon. 

The future now looks bright for this project that seeks to establish itself as one of the pioneering protocols exploring the DeFi/Deflationary landscapes.

Tags: CryptoDeFiTribute

Related Posts

January 2023 Mosdex Updates – Crypto Arbitrage Platform Announces Various Developments To Fuel Growth
Press Release

January 2023 Mosdex Updates – Crypto Arbitrage Platform Announces Various Developments To Fuel Growth

January 27, 2023
Revolutionize Your Trading Strategy with NeuralNet bot: The AI-Powered Trading Bot
Press Release

Revolutionize Your Trading Strategy with NeuralNet bot: The AI-Powered Trading Bot

January 27, 2023
GLOBIANCE and COMTECH GOLD (Dubai) to offer GOLD and SILVER BACKED TOKENS
Press Release

GLOBIANCE and COMTECH GOLD (Dubai) to offer GOLD and SILVER BACKED TOKENS

January 26, 2023
GDCC Team Explain Their Tokenomics Before LBank Listing
Press Release

GDCC Team Explain Their Tokenomics Before LBank Listing

January 26, 2023
GDCC Team Explain Their Tokenomics Ahead of LBank Listing
Press Release

GDCC Team Explain Their Tokenomics Ahead of LBank Listing

January 26, 2023
Messier.app will soon launch its highly anticipated DAO named "Virgo"
Press Release

Messier.app will soon launch its highly anticipated DAO named "Virgo"

January 25, 2023

POPULAR NEWS

MonoDX Discloses the Future of Crypto Trading Automation

MonoDX Discloses the Future of Crypto Trading Automation

September 1, 2022
Be The First To Know About Ecoto

Be The First To Know About Ecoto

April 28, 2021
Avalon-WM Review  – Where Every Online Trader Should Trade

Avalon-WM Review – Where Every Online Trader Should Trade

February 19, 2021
AniFi World Ramps Up – Launches ANIFI Token After a Booming Presale on GemPad, Staking and More to Come

AniFi World Ramps Up – Launches ANIFI Token After a Booming Presale on GemPad, Staking and More to Come

September 2, 2022
Koinswap is launching its own layer-1 blockchain.

Koinswap is launching its own layer-1 blockchain.

September 3, 2022

EDITOR'S PICK

Self-Custody Is the Antidote to FTX’s Fraud

Self-Custody Is the Antidote to FTX’s Fraud

December 21, 2022
CoinW launched Stray Animals Care Plan as the Commitment to Corporate Social Responsibility

CoinW launched Stray Animals Care Plan as the Commitment to Corporate Social Responsibility

August 27, 2022
Argentina Dismantles Illegal Crypto Mining Operation, Apprehends 40

Argentina desmantela una instalación ilegal de minería de criptomonedas y detiene a 40 personas

October 21, 2022
Solana-Based NFT Marketplace Exchange.Art Creates Royalties Protection Standard

Solana-Based NFT Marketplace Exchange.Art Creates Royalties Protection Standard

November 3, 2022

About

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Follow us

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Press Release
  • Regulation

Recent Posts

  • Thailand’s Biggest Food Exporter Uses Tech To Monitor Goods
  • Sam Bankman-Fried Seeks Right to Transfer FTX's Crypto
  • Institutional Bitcoin Buying Is A Positive Sign, Suggests Matrixport
  • DOJ Claims Sam Bankman-Fried Tried to Influence Witness Testimony, Asks for Communications Ban
  • About Us
  • Privacy Policy
  • Contact Us

© 2020 coinpress.media

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • ICO

© 2020 coinpress.media