KuCoin AMA With Tribal Token (TRIBL) — Revolutionizing Financial Services for Emerging Market Businesses
Dear KuCoin Users,
Time: October 13, 2022, 10:00 AM - 11:11 AM (UTC)
KuCoin hosted an AMA (Ask-Me-Anything) session with the Head of Community for Tribal Token, Joey Stewart, in the KuCoin Exchange Group.
Follow Tribal Token on Telegram and Twitter.
Guest:
Joey Stewart — Head of Community for Tribal Token
Joey has been in the Web3 space since 2017 as a trader. e then slowly transitioned to community management. He joined Tribal because he believes in fundamentally sound projects using WEB3 technologies to create innovations. Tribal's mission is to provide opportunities to SMBs in emerging markets. There is a challenge that needs to be met, and with his team, Tribal has accepted that challenge, excited to continue building and helping businesses do business better.
Q&A from KuCoin
Q: What is Tribal Credit, and why is it building blockchain products?
Joey: Tribal Credit is a technology company that revolutionizes financial services for emerging market businesses, especially small-and-medium businesses (SMBs). Tribal Credit's cutting-edge payment and financing platform is designed to level the playing field for businesses, and blockchain is an integral part of that vision. Blockchain can enable cheaper, faster, and more inclusive financial products, especially in emerging economies where financial stagnation disadvantages many people. Tribal is especially passionate about the DeFi mullet model (fintech in the front, DeFi in the back), where access to DeFi protocols is enabled through smooth, user-friendly fintech experiences.
Q: What is the utility of the Tribal Token?
Joey: The Tribal Token is the first token designed to help emerging market businesses grow, unlocking powerful utility throughout the Tribal ecosystem. Through Tribal Credit's Boomerang Rewards program, Tribal Tokens are used to deliver robust rewards for Tribal Credit's customers. Additionally, Tribal Credit customers can use their TRIBL tokens to access higher rewards in the Boomerang Rewards program.
Q: What are the tokenomics for Tribal Token?
Joey: Tribal's tokenomics are focused on utility and stability, with a fixed token supply of 1,000,000,000. At this time, most tokens remain locked, with a steady release schedule over the next four years. Our world-premiere partnership with KuCoin will help the ecosystem develop, evolve, and stabilize.
Q: Can you explain more about why TRIBL withdrawals are restricted?
Joey: As you all know, the regulatory landscape for crypto is getting more complex in countries around the world. Tribal is focused on long-term ecosystem sustainability and growth, which means not cutting corners regarding legal risks. The Tribal withdrawal restriction ensures that the Tribal Token remains unavailable to US persons. We want to build the Tribal ecosystem to be resilient from the start rather than having to put out fires down the line.
Q: What is the roadmap for the Tribal ecosystem?
Joey: Tribal Credit is onboarding its enterprise customers into Boomerang Rewards, adding more participants to the Tribal ecosystem. For context, Tribal Credit has 2,000 enterprise customers in markets like Latin America and the Middle East.
Tribal also focuses on building a DeFi mullet model across all our services. We have a track record of safely connecting crypto capital to emerging market borrowers, as shown by our 20mn USDC Stellar facility. In addition, we are actively exploring ways to enable other on-chain lenders to safely extend low-collateral loans to emerging markets, benefitting from Tribal's credit underwriting expertise in the process.
Q: How does Tribal plan to survive the DeFi winter?
Joey: Steady, long-term growth for an ecosystem, especially in a bear market, is a function of creating real utility. Tribal is focused on building useful products and services for real people, especially non-crypto-native companies. On Day One of our KuCoin partnership, emerging market companies are already getting onboarded into the Tribal ecosystem and using the Tribal Token. In our view, the most successful DeFi projects won't be based on financial smoke-and-mirrors but will power real-world economic activities.
Q: I see that Tribal's products are focused on businesses. Does Tribal have plans to launch a consumer credit card?
Joey: No, Tribal is just focused on enterprise financial management. There are lots of great projects focused on empowering consumers with DeFi tools. But in our view, companies can benefit from blockchain too, and few blockchain products have been designed specifically for their needs. So we're filling that gap with the Tribal Token.
Free-Ask from KuCoin Community
Q: What are your plans for the bull run?
Joey: As many people ask about the plans in a bear market. In either market, our plan remains the same. We will continue to do what we've been doing, and that is building. The difference is that in a bull market, the community is keener to look into newer projects, but from our perspective, it doesn't matter. Hard work and building are what we will continue to do.
Q: Do you have tutorial videos so we can get to know your project better?
Joey: We have. Kindly join our Discord to learn more about what we've built. We have plenty of resources for the community.
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Q: Do you have a whitepaper? Can you share?
Joey: Yes, we have a Litepaper that you can find over at Tribl.Ltd, which is our website.
Q: Are you afraid that someday another project with more innovative technology might replace your project?
Joey: Not necessarily, our focus is mainly on building, and we encourage projects to innovate. We believe that's healthy for space. On our part, we're pretty confident with our team. So we're not concerned at all!
Q: How did you get the community involved in developing the project? And how do you build a strong community to grow globally?
Joey: We've been fortunate to have a core community since our Coinlist sale. As it stands today, our community members have doubled, and that's because the community as a whole is starting to see what's been built and our potential. Seeing an already working, successful business endorse a web three project is always exciting. In our case, Tribal Credit endorses the Tribal token.
We have an Ambassadors program that has helped with our community efforts. We encourage anyone from this community to join us.
Q: What killer features of your project make it different from other competitors? And do you also accept community feedback?
Joey: We currently piloted our Boomerangs Rewards program, which we believe will be a game changer in the space. Imagine how many businesses will be keen to open up a Tribal Credit line to get the amazing benefits Boomerang rewards offers.
Community is the heartbeat of Tribal Token. We encourage feedback from the community; it is extremely important to us.
Q: Binance Smart Chain provides low fees, fast transaction speeds, and reliable and easy-to-use services. Do you have any plans to migrate to BSC or other chains?
Joey: We're exploring the option to be chain agnostic. We do not believe that being stagnant is good for anyone. So it is possible. Stay tuned!
Q: Can you share your social media links so we can keep ourselves updated?
Joey: You can easily find all of our social media links here.
Q: Is your project a community only for English-speaking countries?
Joey: Our project is open to any language. We have multiple subset communities within our Discord that speak different languages and want to add more. Keep in mind that our goal is to target emerging markets.
KuCoin Post AMA Activity — Tribal Token (TRIBL)
🎁 Participate on the Tribal Token AMA quiz now for a chance to win 10 TRIBL!
The form will remain open for five days from publishing this AMA recap.
Giveaway Section
KuCoin and Tribal Token have prepared a total of 2,000 TRIBL to give away to AMA participants.
1. Free-ask section: 50 TRIBL
2. Flash Mini Game: 600 TRIBL
3. Post-AMA Quiz: 1,350 TRIBL
. . .
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