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TribeOne: a new DEFI Platform that Will Revolutionize Banking

TribeOne: la plataforma DEFI que va a reinventar el mundo de la banca

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[Leer en español]

The Decentralized Finance (DEFI) market evolved positively during the pandemic, as shown by the growth of this sector that in just under a year has raised more than $4.5 billion with the development of platforms such as Uniswap, SingularX or Kyber Network.

One of the new players in the market is TribeOne, whose native token is “Haka.” The goal of this start-up is ambitious, to build a DEFI ecosystem that allows lowering the costs of financial transactions to the minimum possible.

As explained in TribeOne’s white paper, the company seeks to enable people to become their own banks, allowing user-to-user lending “from micro-loans to 6-figure disbursements, without the supervision of a bank and completely governed by the community.”

TribeOne’s platform allows its users to invest in Non-Fungible Tokens (NFT), make NFT-backed loans, invest in DEFI portfolios, and provide financial insurance with smart contracts, and even back mortgage loans using artificial intelligence.

TribeOne aims to create a user-to-user investment ecosystem where both lending and capital raising for investment are done in a decentralized manner without a central authority.

The TribeOne system will use the P2P (peer-to-peer) protocol to approve investment contracts or loans on its platform. These smart contracts are one of its main features, as they allow its users to avoid the bureaucracy involved in traditional financial systems for settling disputes.

NFT-backed loans allow the user to pay month to month, and if the NFT backing the loan appreciates in value, the user can liquidate the NFT and pay the loan to other TribeOne users and keep the appreciation of the token backing the disbursement.

When the asset is liquidated, TribeOne will sell the NFT through its user platform, and the value received is divided equally among the contributors to the loan or mortgage financing.

Thousands of people will be able to lend money from their cell phones or invest in NFT through TribeOne’s platform. (Image: EFE)

Not only will users have the freedom to borrow to mortgage NFT, they will also be able to fund insurance in NFT to counter the volatility of cryptocurrencies.

With the artificial intelligence used by the smart contracts backing NFT loans and mortgages, if any of the users violate the terms of the contract, the asset granted simply switches ownership back to the lenders, which would save considerable time in settling financial disputes and a lot of money on lawyers.

“Haka”, TribeOne’s cryptocurrency

TribeOne’s native token is “Haka”, through the cryptocurrency users will be able to access the functions offered by this new concept of decentralized banking; Haka is currently trading above 40 cents per unit, the cryptocurrency has increased its value by 800% since its release in July of this year.

Economist, writer and liberal. With a focus on finance, the war on drugs, history, and geopolitics // Economista, escritor y liberal. Con enfoque en finanzas, guerra contra las drogas, historia y geopolítica

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