Hello Parallell community, here’s a recap of our AMA event with TribeOne.
Richard:
Hello everyone👋 welcome to the Parallell & TribeOne AMA session 👏👏
Today, we are honored to invite @mehdisuleman to do an AMA about the TribeOne project. First of all, please allow me to express my warm welcome and heartfelt thanks to @mehdisuleman 👋
I’m pretty sure that our AMA participants are very excited to learn more about TribeOne, so let’s get started!
1️⃣ Segment 1 : Introduction Segment
Richard:
Q1: Kindly give a brief introduction about yourself, your background and what motivation led to the birth of the TribeOne protocol.
Mehdi | TribeOne:
I’m Mehdi Suleman, CEO and Founder of TribeOne. My background for the better part of my life has been in the banking sector with 20+ years of experience in the largest retail banks of the Middle East region, building products and teams with the inception to growing business with total value locked over $1.2 billion. Throughout my tenure, I worked in senior leadership roles overseeing business, finance operations & managing large cross-department teams.
I have been a staunch crypto supporter of blockchain technology for a few years now and have been actively trading since 2016. During my tenure, I used to get frustrated due to the rigid and ancient infrastructure of traditional banking. As a budding crypto enthusiast, I always used to dream of a perfect combination of traditional finance and the DeFi world where we can have all the benefits of the traditional banking system and also enjoy the perks of DeFi. The surge of DeFi really sparked my interest and led me to do thorough research in how to build a decentralized financial ecosystem.
That bought the idea of TribeOne — First-Ever NFT lending platform.
Richard:
Q2: What makes TribeOne a unique protocol in the DeFi ecosystem. Could you please stress upon some of the key USPs of your project?
Mehdi | TribeOne:
TribeOne is a platform that is meant for all!
In the simplest terms, we are a DeFi and NFT platform where the users will be able to get loans by using their NFTs as collateral. In addition to this, the main feature is that loans are offered to users against their NFT’s, users can also pool invest in NFTs or get a loan to buy an NFT.
Let me give you a few pointers.
- It’s an innovative lending, borrowing and investing space with the added features:
- Zero-collateral loans
- 25% down payment
- Flexible repayment options
- Applying for a loan on our dApp is easy and instant
- My traditional experience is also one of our USP as I have identified problems in the traditional space in a user’s journey and that’s why TribeOne is a platform built with complete user focus.
- The first instant NFT-lending dApp is also built to allow users to get a loan for any NFT of their choice.
- We are also building an all-in-one platform for not only users but also NFT artists, making it a one-stop-shop for every crypto users.
Richard:
Q3: Can you tell us some of the exciting features TribeOne is going to offer for their community?
Mehdi | TribeOne:
TribeOne protocol plans to offer more exciting features like:
NFT renting and leasing feature:
Let me take you through it.
Our upcoming integration with Decentraland will soon allow users to acquire their favourite Decentraland NFTs instantly through our financing solutions.
Additionally, our upcoming integration with landworks will soon allow our users to list these loaned Decentraland NFTs & further lease them out.
Therefore, users can then utilize the income generated on these leased out NFTs to repay their initial loan taken from us in installments & get 100% ownership of the loaned NFTs as well as earn additional interest.
TribeOne’s users can now enter the Decentraland with ease.
So this your chance to jump right in into the NFT renting and earn passive income!
Users can check this thread out to know more:
https://twitter.com/tribeonedefi/status/1523046830606622721?s=20&t=bZVGEK3irPDuGq2zsXu-Ew
Richard:
Q4: What are some of the features your dApp is offering? Could you also let our curious audience know how they can apply for a loan to own NFTs through your dApp?
Mehdi | TribeOne:
TribeOne introduces the first instant NFT-lending dApp that provides all-in-one financing solutions on verified NFTs from Opensea.
Features :
1. An NFT with a simple 25% down payment
2. An easy repayment plan set by you
3. Zero collateral loan
4. A speedy and instant loan approval process
To apply for a loan on TribeOne dApp, simply follow the steps below:
1. Access the TribeOne dApp and connect your MetaMask wallet
2. Use our special “Import NFT” function which enables you to copy-paste the the link of your fav NFT directly from OpenSea
3. After you choose your NFT, click “Apply for Loan” and set your down payment and loan duration.
Lastly, Read and agree to the Terms & Conditions and select Apply for Loan.
That’s it!
Congrats on bagging yourself your fav NFT !! 🚀🚀
This is TribeOne dApp link that you can experience:
Richard:
Q5: As thrilled we are to be joining hands with TribeOne, could you elaborate on how this partnership would be beneficial for both the communities?
Mehdi | TribeOne:
We are thrilled to announce our partnership with Parallell!
TribeOne x Parallel partnership will be a long-term and productive collaboration that makes the NFT space and Metaverse space more accessible for all users.
In light of this partnership, TribeOne will provide NFT lending solutions through our dApp to Parallell users for buying Parallell NFTs that will launch soon. Using our dApp, users can easily apply for a loan and with only a 25% down payment, they can start using their newly bought Parallell NFTs.
Upon the launch of our NFT marketplace, we will be listing Parallell NFTs. Users will enjoy a seamless NFT lending service that will allow them to purchase any in-game NFT with personalized installment schedules. Being granted access to our dApp’s all features, Parallell users can now flip NFTs and utilize the self-liquidating feature to make profits even if they have remaining repayments to be made.
2️⃣ Segment 2 : Twitter Segment (5 Twitter Users’ questions)
Currently a lot of Hackers. I wonder how safe is TribeOne. Can you give some information about the security system of TribeOne? Was TribeOne already audited,,? Can users invest their money safely in long term in TribeOne?
Mehdi | TribeOne:
That’s a good question.
Every booming business/finance sector is influenced by good and bad elements as it expands. DeFi has experienced exponential growth since the beginning of 2021, according to DeFi pulse over $82 billion worth of crypto is locked across multiple DeFi platforms. As we leap in a trillion dollar crypto space, some negative players have paved their way to exploit the loopholes in the system but as the industry grows, many protocols have emerged with an aim to ensure a safe and secure environment for the budding crypto users.
TribeOne protocol recognizes the importance of having a secure platform and our Smart Contract has been audited by three leading cybersecurity firms — 1. Solidity Finance 2.Beosin 3. Hacken to reassure the community that there are no loopholes in our smart contract, which is TribeOne’s top concern.
Here are the details:
Solidity Finance:
https://solidity.finance/audits/TribeOne/
https://twitter.com/SolidityFinance/status/1483846727840845824?s=20&t=aZ3Hcbo_LdxmRxyjwbIvwg
Hacken:
https://github.com/TribeOneDefi/audit/blob/main/Hacken%20Audit.pdf
Beosin:
#TribeOne presents the NFT Funding Platform, a financing platform that allows users to unlock the value of their NFT assets without losing ownership. Would you please explain more about how works this platform? What do you mean by unlocking the value of NFT assets.
Mehdi | TribeOne:
Along with all the exclusive features like :
- NFT loan with a simple 25% down payment
- An easy repayment plan set by you
- Zero collateral loan offered on our platform.
TribeOne has one that is particularly unique — self-liquidation of your financed NFT. Here users first apply for a loan for their favorite NFT for which they are the custodian and we are the owners until the loan is repaid. Eg: if the price of an NFT increases, users can opt for self-liquidation for their NFT even if they do not have the ownership as TribeOne provides them the luxury to opt for the self liquidation feature and make instant profits. Additionally, they have to repay their loan with the profits earned.
You can maximise your profits by unlocking liquidity & reinvesting to expand your NFT portfolio & reinvest your investments in your NFT portfolio. TribeOne aims to be a completely decentralized, community-driven platform that offers users an ecosystem of boundless possibilities. We believe that users should have full control to make a financial decision for their favorite NFT, irrespective of the status of ownership.
Could you list out some of the benefits of $HAKA and where can one purchase $HAKA from?
Mehdi | TribeOne:
Before jumping into the benefits of $HAKA, let me share with you a fun fact about our token $HAKA:
The concept of TribeOne draws some of its inspiration from the Samoan culture which focuses on family, unity, respect and working together as a community. Our token $HAKA means war dance that indicates the power of holding the token with victory.
$HAKA is a deflationary token, designed with mechanisms in place that ensure its supply reduces over time whereas demand increases with increased protocol usage.
Staking benefits:
Users have the option to stake $HAKA tokens and earn staking rewards. Recently, we’ve announced a 60 day staking program with KuCoin where users to enjoy excellent APRs of 60%.
Currently we have had around 12 million $HAKA locked from our total circulating supply into various staking pools which would ensure that the demand does exceed the supply.
Staking $ HAKA locks our total circulating supply & grants great APRs to stakers.
Deflationary in nature:
Our protocol model is designed in such a way that token-burns would be a frequent event through the NFT self-liquidation option we offer on our dApp. Following the release of our dApp, the revenue that was generated from all the NFT financing solutions taken by our users was used to buy back and burn 300,000 $HAKA.
( A token-burn leads to a reduction in the total supply of the token or in other words creates a “deflationary” event that would significantly boost the value of the token.)
NFT investments:
Currently, our native token, $HAKA, is supported on our platform for the purchase of NFTs through our dApp which can be considered a primary utility.
You can easily get the necessary finances on our platform for a simple downpayment of 25% that can be paid using $HAKA, which is currently listed on 3 exchanges:
1. Pancake Swap
2. Uniswap
3. KuCoin
You can buy $HAKA here:
Pancake Swap: https://pancakeswap.finance/info/tokens/0xd85ad783cc94bd04196a13dc042a3054a9b52210
Kucoin:
https://kucoin.com/trade/HAKA-USDT
Uniswap:
https://v2.info.uniswap.org/token/0xd85ad783cc94bd04196a13dc042a3054a9b52210
What are your thoughts on #NFTs and could you tell us a bit about @tribeonedefi ‘s NFT loans?
Mehdi | TribeOne:
The non-fungible-token (NFT) market witnessed a significant growth in the first quarter of 2022. The global NFT market has surpassed the $20 billion mark this year and is growing exponentially. NFTs are already starting to break into the mainstream market and have a huge growth potential.
The booming NFT space is full of opportunities, yet acquiring an NFT is challenging since NFT purchases require upfront payments.
TribeOne brings you a unique opportunity to invest, borrow and lease in NFTs.
TribeOne offers zero collateral loans, custom loan terms, instant loan approvals, and flexible repayment options for purchasing NFTs, making it a one-of-a-kind platform for those who want to step into the NFT space.
Let me run you through the simple process of applying loans on TribeOne’s dApp through a fun video:
https://twitter.com/tribeonedefi/status/1488279129762177024?s=20&t=OGVl8B9ruQP89JGEvnzn8g
Could you share your thoughts on how TribeOne’s (NFT financial solutions) can be a potential game-changer in the metaverse and GameFi space.
Mehdi | TribeOne:
Given the increasing demand in the metaverse, NFT prices are skyrocketing. To make financing solutions for NFT purchases within the metaverse more accessible, TribeOne is building an ecosystem where users will have access to products and services to invest in NFTs and make the most out of this thriving new space.
We’ve collaborated with quite a few leading metaverse projects like Division network, Babylons, Brokoli network, among many others and not to forget our new partner — Parallell — to allow users to purchase NFT land from them using our financing solutions. Users can easily opt for loans for virtual lands located in our partner metaverses and TribeOne’s NFT-lending solutions emerged to help users acquire NFTs with a small down payment and with custom repayment schedules.
One of the GameFi monetization strategies that is quickly gaining traction is NFT rentals.
TribeOne protocol will soon be integrating renting solutions onto our platform in the future
NFTs are the assets users can own and invest in within the metaverse that can be in the form of virtual land, game items, artworks, or even event tickets. By owning NFTs, players can participate in a game’s play-to-earn ecosystem by leasing these NFT assets for profit.NFT owners can earn significant passive income from their in-game assets. For example, players can sell NFT in-game items such as weapons, armor, characters, etc. The rarer the item, the more it can be sold for on the marketplace.
TribeOne aims to provide the underlying infrastructure to power such NFT rental economies. With its revolutionary approach to NFT renting and its knowledge of how such things can be applied to the play-to-earn world, TribeOne is ready to meet all of the needs related to NFT lending and borrowing on the blockchain.
- NFT rentals are set to push decentralized GameFi space to the next level by introducing new income streams for both lenders and borrowers) and also helps break down accessibility barriers by allowing users with less financial resources to participate in play-to-earn ecosystems.
- In addition, this mechanism creates another avenue for tokens to circulate which in turn boosts liquidity and increases the utilization and value of NFT assets.
Now we will go to the last part-Live Q&A
Now the group will be unmuted, leave your questions here to win the prize.
3️⃣ Segment 3 : Live Segment(5 TG Live questions) — — —
@bess_skipper_85
I am interested in investing in your project. When and where can I buy your tokens? Is it already listed on exchanges?
Mehdi | TribeOne:
That is Great! $HAKA is listed on :
1. Kucoin
https://kucoin.com/trade/HAKA-USDT
2. Pancake Swap
https://pancakeswap.finance/info/tokens/0xd85ad783cc94bd04196a13dc042a3054a9b52210
3. Uniswap
https://v2.info.uniswap.org/token/0xd85ad783cc94bd04196a13dc042a3054a9b52210
@oconnera
How old is Your project? What are the major plans ahead? Could you show us an image of your roadmap?
Mehdi | TribeOne:
Our project is almost more than a year’s old . Sure let me quickly take you through our roadmap:
Roadmap Q2
1. TribeOne is all set to expand into an all-in-one NFTMarketplace with over 30+ market-leading partners i.e.
TerraVirtua , Syscoin , Wanaka_Farm , DeFiWarriorGame & many more.
2. We have also upgraded the UI/UX of our dApp & enhancing security with a KYC verification feature.
3. We’re also on-boarding budding NFT artists and having their NFTs listed on our platform at
- Zero minting cost
- With gasless transactions of their NFTs
- Added exposure through NFT auctions, co-marketing activities, etc.
The Q3 of the roadmap will consist of Phase 2 of our NFTmarketplace
1. TribeOne will integrate with decentraland, allowing users to acquire their favourite Decentraland NFTs on loan.
2. Our integration with landworksxyz will allow our users to list these loaned Decentraland NFTs & further lease them out. Users can then utilise the income generated on these leased out NFTs to get complete ownership of the loaned NFTs as well as earn additional interest
3. We aim to grow our social media presence & build our community with more competitions, interactive sessions with partner communities, & airdrops
4. We further aim to implement market localization specified to our diverse communities’ geographical regions.
Read more in detail here:
https://tribeone.medium.com/the-year-ahead-tribeones-roadmap-for-2022-4c8dee0f6438
@ghton1994
How did you get the community involved in developing the project? and how do you build a strong community to grow globally?
Mehdi | TribeOne:
TribeOne aims to be a completely user centric platform where users have the power of their own finances , during my tenure in the traditional world I was able to identify all the barriers a user faces in the finance system . Hence, that is why TribeOne was created — a completely community focused platform where users can apply for loans on their favorite NFT & also set their own repayment plans .
Coming to the second part of your question : We have always involved our community through polls, AMA’s , regular updates , behind the scenes etc. In the future , we also have a lot more coming for our community.
@alvaro_ross_1993
Do you have any plan for burning tokens in the future to reduce the supply of the token and increase its investment attractiveness?
Mehdi | TribeOne:
Tribeone is a deflationary token , let me tell you how this works :
When users stake within our dApp they earn rewards &
- Staking facilitates our #NFT loans.
- This staking locks our circulating supply & increases the scarcity of $HAKA
This limited supply of $HAKA in the market will create a healthy token ecosystem .
Users can simply self liquidate their financed NFT on our dApp to earn large profits
TribeOne uses 20% of all NFT liquidation profits to buy back $HAKA from the open market $HAKA is then burned
This burning mechanism reduces our total supply & circulating supply leading to a scarcity of
$ HAKA in the market & emerging a healthy token model.
Thus creating a deflationary ecosystem.
Until now 300,000 $HAKA has been bought back & BURNED🔥
All using the revenue generated from the NFT-financing solutions offered since the launch of our dApp!
This boosts the deflationary utility of our token & further proves sustainable growth of our protocol.
Have a read to our amazing detailed bull-thesis to understand better.
Burn announcement: https://twitter.com/tribeonedefi/status/1505988005508562957?s=20&t=0oGc01Me6UJ0UyEvEN3e6A
Bull thesis : https://tribeone.medium.com/bull-thesis-haka-dc373d407fcc
@jim_4198
Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
Mehdi | TribeOne:
TribeOne has more than 3 killer features 😎
- It’s an innovative lending, borrowing and investing space with the added features:
- Zero-collateral loans
- 25% down payment
- Flexible repayment options
- Applying for a loan on our dApp is easy and instant
- My traditional experience is also one of our USP as I have identified problems in the traditional space in a user’s journey and that’s why TribeOne is a platform built with complete user focus.
- The first instant NFT-lending dApp is also built to allow users to get a loan for any NFT of their choice.
- We are also building an all-in-one platform for not only users but also NFT artists, making it a one-stop-shop for every crypto users.
Richard:
😍 Winners will be announced later and can send the wallet address of ERC20 privately to admins. Congratulations!👏
Due to time constraints, our Q&A session is over. Thanks for your patient answer! Also, thank you very much for your active participation! 👍
For more details, please follow TribeOne Social Media Platforms:
Telegram- https://t.me/tribeone ; https://t.me/tribeone_ann
Twitter- https://twitter.com/tribeonedefi
Medium- https://bit.ly/3biA4ex
LinkedIn-https://www.linkedin.com/company/tribe1
Website- https://www.tribeone.io/
