What is Tribe3? Tribe3 is an NFT Perp platform that combines with Social to create a dynamic environment for users. With the new combination of the project, it promises to bring many new experiences to everyone. So what is Tribe3? Let’s find out in this article!
To understand more about the NFT Perp segment, you can read the following articles:
- What is SynFutures? SynFutures Cryptocurrency Overview
- What is NFTPerp? Overview of Cryptocurrency NFTPerp
- What is NFEX? Overview of NFEX Cryptocurrency
What is Tribe3?
Overview of Tribe3
Tribe3 is an NFT Perp platform that combines with Social to create a dynamic environment for users. With the new combination of the project, it promises to bring many attractive experiences to everyone. Tribe3 uses the vAMM model to generate trading liquidity along with 5x leverage for users.
Tribe3 supports trading mainly on NFT/ETH pairs and collectibles traded on the platform such as Bored Ape Yacht Club, Azuki, Doodles, Moonbirds, CLONE X, CRYPTOBUNKS, Meebits.
Mechanism of action
Products on Tribe3
Trade
Users can use the platform to buy and sell NFT futures contracts with 5x leverage. The platform only supports Bluechip NFT collectibles.
Battle
Head-to-head combat between NFT collectibles is opened up to level the playing field for NFT holders. The battle will occur between 2 collections and within a certain period of time. NFT holders stake their NFTs and Vote. After the specified time, the collection with the most votes will win and the winner will receive some badges to create an Avatar.
Avatar
Win in-game items and badges and use them to create custom NFT avatars. Represent your community’s identity, style, interests as an NFT trader.
Tribe3’s mechanism of action
Tribe3 uses a vAMM model to create virtual liquidity for trading users, which is suitable for the illiquid environment of NFTs. And vAMM is briefly described as follows:
- Based on the formula x*y=k like most other AMMs.
- No need for liquidity or liquidity providers.
- Traders buy and sell a certain asset by posting collateral.
- Like most other AMMs, prices on vAMM are updated every time a trade is made.
In this model, there will be a difference between Oracle and vAMM prices. To minimize that, the project offers the following mechanism: when Oracle’s price is higher than vAMM’s price, Long people are encouraged by requiring Short people to pay fees to Long people. If the Oracle price is lower than the vAMM price, it is necessary to encourage Short people by requiring Long people to pay a fee to Short people.
When collateral drops below 10%, the position will be liquidated by Liquidation Bots. If the collateral ratio drops below 10% and above 5%, the order will be liquidated at 12.5% until the collateral ratio increases above 10%. If the collateral ratio drops below 5%, the order will be completely liquidated. The remaining amount after order liquidation will be divided 50% to the Liquidation Bot and 50% to Tribe3’s insurance fund.
Development Roadmap
Updating…
Core Team
Updating…
Investors
Updating…
Tokenomics
Updating…
Exchanges
Updating…
Tribe3 Information Channel
- Website: https://tribe3.xyz/
- Twitter: https://twitter.com/Tribe3Official
- Blog: https://mirror.xyz/tribe3.eth
- Discord:
Summary
Tribe3 is an NFT Perp platform that provides solutions for the NFT Finance segment. Especially with the vAMM model being relatively suitable for the nature of NFTs and this being a new niche, Tribe3 has a lot of opportunities to develop.
So I have clarified what Tribe3 is? Overview of Tribe3 cryptocurrency. Hope this article brings you a lot of useful knowledge!