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What is the issuance amount of Tribe coins?
As of June 28, 2023, the total issuance amount of TRIBE tokens, the native token of the Swerve Finance platform, stands at 130,565,127.
Nov 19, 2024 at 06:02 am
Tribe, previously known as SIP, is the native token of the decentralized lending platform, Swerve Finance. As of June 28, 2023, the total issuance amount of TRIBE tokens is 130,565,127.
Issuance Details- Initial Distribution: 36,141,882 TRIBE tokens were distributed during the Swerve Finance token generation event (TGE) in August 2020.
- Liquidity Mining: 50,709,452 TRIBE tokens are allocated for liquidity mining rewards, distributed to users who provide liquidity to the platform's lending pools.
- Team Allocation: 18,070,941 TRIBE tokens were allocated to the Swerve Finance team and advisors, subject to a vesting period.
- Ecosystem Fund: 18,070,941 TRIBE tokens are reserved for an ecosystem fund, used to support the growth and development of the Swerve Finance ecosystem.
- Treasury: 7,551,911 TRIBE tokens are allocated to the platform's treasury, used for operational costs, strategic initiatives, and community development.
The distribution of liquidity mining and ecosystem fund TRIBE tokens follows a vesting schedule, with varying release rates over a specified period. Here are the details of the schedule:
- Liquidity Mining: 60% of the allocated tokens are released immediately, and the remaining 40% are vested over a three-year period.
- Ecosystem Fund: 15% of the allocated tokens are released immediately, and the remaining 85% are vested over a five-year period.
TRIBE tokens serve multiple functions within the Swerve Finance ecosystem:
- Governance: TRIBE holders can participate in the platform's governance, proposing and voting on changes to the protocol.
- Yield Farming: TRIBE tokens can be staked to earn additional rewards in the platform's liquidity pools.
- Platform Fees: A portion of the platform's revenue is used to buy back and distribute TRIBE tokens to holders.
- Community Engagement: TRIBE holders are eligible to participate in exclusive community events and initiatives.
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