Cross-chain social gaming infrastructure platform Tribally has announced that the public sale for the $TRIBAL token is scheduled to start on Thursday, September 5th, and you can already pre-register ahead of this upcoming TGE by completing KYC and connecting your wallet to the investor dashboard linked in this tweet.
What Is the $TRIBAL Token?
$TRIBAL is an ERC-20 token that the web3 community will be able to purchase using $USDC on Ethereum, Ronin, and Base. It is designed to transform the platform’s currency into an on-chain token to enable trading and true ownership while enabling new ecosystem features. It comes with a total supply of 600 million tokens that is planned to be reduced by 20% using treasury burning mechanics where each transaction on the platform leads to a small number of tokens getting burned. This burn feature will continue until 120 million tokens have been burned.
The upcoming public listing will offer 64 million $TRIBAL tokens, through which the developers look to raise at least $2.5 million that will be used to fund “the expansion of our platform and technology,” according to the allocation section of their whitepaper. The team has 96 million tokens (16% of total supply), with 25% of it locked for 1.5 years followed by a 1 year vesting schedule, while 75% of their tokens are locked for 2.5 years with 2 years of vesting. 30 million advisor tokens are also locked for 1 year and have 1 year vesting, while the 75 million tokens allocated for investors have a bit more complex schedule due to there being multiple token sales.
| CATEGORY | $TRIBAL TOKENS | % ALLOCATED | LOCKUP/VESTING |
|---|---|---|---|
| Community | 310,000,000 | 51.67% | n/a |
| Team | 96,000,000 | 16.00% | 25%: 1.5yr lock + 1yr vesting 75%: 2.5yr lock + 2yr vesting |
| Investors | 75,000,000 | 12.50% | More details here |
| Public Listing | 64,000,000 | 10.67% | n/a |
| Advisors | 30,000,000 | 5.00% | 1yr lock + 1yr vesting |
| Liquidity | 25,000,000 | 4.17% | n/a |
| TOTAL | 600,000,000 | 100% |
Features
With the launch of this token, blockchain gamers will truly be able to monetize their time spent playing web3 games partnered with the platform, such as Axie Infinity, Apeiron, Pixels, Mighty Action Heroes, and more. Businesses and gaming studios will be able to utilize various B2B services to financially improve the ecosystem while increasing their project’s own userbases through the use of a variety of growth mechanisms such as gameplay and social quests, game spaces, tooling, NFT sale support, and more activation services.
Holders will be able to spend the token on various premium features such as wagers, the Battle Pass, group boosts, the Blessings Machine, and a secret ‘Project P’ for which more details will be revealed later this year.
Wagers revolve around betting $USDC and $TRIBAL tokens on scheduled PvP Challenges across various games, with wages made with $TRIBAL tokens having a lower commission rate. The Tribally Battle Pass is a monthly subscription feature paid for using $TRIBAL tokens to unlock various benefits that include exclusive daily quests, increased win % for the Blessings Machine, bonus profile customization options, the option to bridge earned tokens off the platform, and more.
Group boosts are numerous different benefits group members can spend $TRIBAL on to unlock features such as higher member limits, premium widgets, emojis, and cosmetics, among others. The Blessings Machine is a gacha rewards system through which players can earn gaming tokens, merch, NFTs, and more, with win chances getting boosted based on your reputation and gamer score on the platform.
Of course, this token also includes staking, but in this case, you will stake your tokens to earn $USDC. Staking rewards consists of $USDC commission generated from wagers, with 4% of all $USDC wager volume getting distributed to users who stake $TRIBAL tokens. The bigger the $USDC wagering volume, the more $USDC you’ll be able to earn.
Earn $TRIBAL for Free
Thanks to the ongoing airdrop campaign, anyone can earn $TRIBAL tokens for free ahead of TGE by completing social and game-specific gameplay quests through the official quests page. You will need to create an account on the platform first using Discord, X, Facebook, or Twitch. Some of the quests currently available include liking and retweeting a Tribally tweet, winning 1 arena match in Axie Infinity: Origins, playing the Blessings Machine, and so on.
Next to completing quests from partnered games, the platform looks to offer more ways to increase user engagement and thus further grow the ecosystem. These include climbing reputation leaderboards, facing off in limited time showdowns, and referring new users who will be active on the platform. Reputation is earned by playing games, owning gaming NFTs, creating gaming content and climbing leaderboards, while spectators of the 1v1 showdowns can also guess the winner to earn $TRIBAL tokens.
