After facing unexpected technical setbacks during its initial public sale on September 5th, Tribally has shared an updated roadmap for the launch of its $TRIBAL token. The comprehensive new plan aims to address the issues encountered and chart a path forward.
Challenges Encountered During Tribally Public Sale
The initial public sale of $TRIBAL faced numerous technical challenges that impeded its success. Investors experienced intermittent website timeouts, marked by ERR_TOO_MANY_REDIRECTS errors, raising concerns about the security of their investments. Additionally, disruptions in the KYC verification process prevented many participants from completing their transactions. Further complicating matters, users were met with blank pages upon logging in, which contributed to their frustration.
Mobile users also reported issues with accessing the Ronin wallet option, limiting engagement from that wallet’s community. Collectively, these technical difficulties necessitated a halt to the sale and prompted a thorough reevaluation of the launch strategy.
Lessons Learned From The Sale
From the challenges faced during the failed sale, Tribally shared crucial lessons steering their future strategies. Acknowledging the web3 community’s strong emphasis on privacy, Tribally recognized that their default KYC process was overly intrusive. In response, they are now focused on adopting a more privacy-conscious approach.
Additionally, the initial sale’s heavy reliance on speculative interest revealed the need for a more transparent value proposition. Consequently, Tribally emphasizes tangible outcomes, such as on-chain betting and staking rewards, to offer investors clearer and more substantial value.
Tribally’s revised strategy for the $TRIBAL token involves several crucial phases:
- Generate Betting Volume: Transitioning from a social platform to an entertainment and betting platform, Tribally targets the largest market in web3 gaming. The success of its play-to-earn and staking models hinges on driving $USDC betting volumes. The launch of $USDC betting later this month, before the TGE, aims to bolster the theoretical floor price of $TRIBAL through staking rewards accrued from betting activities.
- Showcase B2B Demand for $TRIBAL: Tribally plans to host seasonal play to airdrop (P2A) campaigns, enabling gaming companies to promote themselves using Tribally’s technology at reduced costs. These campaigns will involve various activities like leaderboards and challenges, with gamers competing for $TRIBAL, NFTs, and other tokens. Crucially, all fees from these campaigns will be used to purchase $TRIBAL tokens from the public sale supply, decreasing available tokens and demonstrating real-world demand.
- Distribute Yield: In October 2024, Tribally will launch $TRIBAL staking, allowing users to earn commissions from $USDC betting, even before the token is live. This preemptive move sets the stage for immediate utility and income generation following the TGE.
Future Steps
With these strategic adjustments, Tribally plans to conduct a public token sale once these stages show positive results, with the TGE and listing to follow immediately. The sale price and valuation will be determined just before the event, reflecting the progress and market conditions at the time. A small, invite-only private sale this month marks the last chance to purchase $TRIBAL before its full integration into Tribally’s operational ecosystem—a major repricing event is anticipated post-launch.
