TribeOne Governance Launch
Empowering the TribeOne Community in shaping the future of NFT lending and perpetuals
The need for decentralized governance
We believe in the decentralized ethos of crypto and in tapping into the limitless creativity and potential of our community. That is why we are proud to announce the decentralized governance process for TribeOne.
Including our community in the development process of TribeOne protocol we ensure staying close to the needs of our users but also open the protocol to innovations and ideas that can spring from the ground up. Being able to facilitate and nurture community ideas from concept to implementation in a decentralized way has been a dream and one of the cornerstones on which we built TribeOne.
Governance scope
Via on-chain governance, our community will be able to decide on the future if TribeOne via:
- New listings and delistings of NFT collections
- Control over the parameters of TribeOne V2 (lending)
- Control over the parameters of TribeOne V3 (perpetuals)
- Contract upgrades
- Allocation and management of the DAO treasury
TribeOne’s governance process
We designed the governance process to be as straightforward as possible to avoid any bureaucratic bottle-necks, but also in a way that puts community voice and discussions front and center.
Governance Forum
You can access our forum on forum.tribeone.io
The forum is the heart of TribeOne’s governance. Everyone can register and pitch their idea to our community. If the proposal reaches sufficient approval from our community, it can move to the next phase: voting.
Submitting a proposal
How to submit a proposal:
- Go to forum.tribeone.io
- Click “Register” and follow the instructions to create your profile
- Click the email confirmation link you received on your email
- Click the button to activate your account
- Go to the category that fits the proposal you want to post
- Click “+ New Topic”
- Double-check the proposal category — it might be best to check what kind of proposals each category already contains to choose the best one for you
- Fill the title and the content
- Click “Create topic”
Things to consider:
- The better structured your proposal is from the beginning, the faster it can go through the discussion period to voting
- Ensure that your proposal is beneficial for TribeOne protocol and community and that the benefits are well defined
- Include an “Executive summary” at the top with a total ask (total amount of $HAKA that will need to be spent if this proposal passes) — put a more detailed breakdown of expenses later in the proposal
$HAKA and the staking derivative: $veHAKA
$HAKA is the utility token of TribeOne protocol.
Our community benefits from holding $HAKA in a number of ways, including:
- Earlier zero-loan participation
- Protocol fee sharing
Read our full $HAKA tokenomics here: Why $HAKA deserves your attention?
$HAKA, however, does not give the right to participate in protocol governance — enter $veHAKA.
$veHAKA
$veHAKA is a $HAKA staking derivative you receive when you stake your $HAKA.
While staked, your $HAKA assets earn yield (60% APR at the time of writing) and allows you to actively participate in the protocol’s governance by voting on the proposals.
The more $veHAKA you own, the higher your voting power. And you get more $veHAKA if you decide to stake $HAKA for longer (up to 4 years).
The formula is as follows:
Example scenarios:
- You stake 100 $HAKA for 1 year — You receive 25 $veHAKA
- You stake 100 $HAKA for 2 years — You receive 50 $veHAKA
- You stake 100 $HAKA for 4 years — You receive 100 $veHAKA
How to stake $HAKA and receive $veHAKA
You can stake your $HAKA on:
Staking $HAKA step-by-step:
- Go to https://dao.tribeone.io
- Connect your wallet
- Choose the amount you want to stake
- Choose the staking term (years)
- Click “Approve” and confirm token approval on MetaMask
- Click “Create Lock” and confirm transaction on MetaMask
- Click “Checkpoint” and confirm transaction on MetaMask
- Accept and sign the transaction on your MetaMask
☝ You can always increase the staking term later, which will give you more voting power ($veHAKA)
Voting process
All voting will be held on snapshot.org — a well established, easy to use platform used by many other DAOs, i.e. Uniswap, Arbitrum or AAVE. Voting on snapshot requires only gas-less message signing, making it a secure and trusted choice.
With Snapshot.org, a blockchain snapshot of all balances of $veHAKA in all wallets is taken before the proposal, so your voting power is already decided when the proposal is published.
This means that, once the proposal is out, one cannot buy more votes to influence the voting, increasing voting fairness but also the security of the DAO and stability of $veHAKA itself — in order to participate in voting, you cannot just flash-loan $veHAKA, vote and instantly sell it.
☝ You need to have $veHAKA (staked $HAKA) in your wallet before the proposal goes to voting
How to vote on snapshot.org
Voting on snapshot.org step-by-step:
- Go to snapshot.org/#/tribeonedao.eth
- (optional) Click “Join” and sign a message with your wallet to add Tribeone DAO to your snapshot sidebar
- Click on the proposal you want to vote on
- Click on the voting option you decide on (For/Against/Abstain)
- Click “Confirm”
- Sign the message with your wallet
The future of TribeOne
With the roll-out of decentralized governance, our community is able to shape and mold the future of TribeOne protocol and innovate the NFT perpetuals and lending ecosystem from infancy to maturity.
What will this future be? This depends on you! Help with unlocking NFT liquidity in decentralized finance:
- Buy $HAKA: Uniswap | PancakeSwap | KuCoin
- Join the discussions on our forum: forum.tribeone.io
- Stake your $HAKA for $veHAKA: dao.tribeone.io
- Vote on proposals: snapshot.org/#/tribeonedao.eth
Updated docs
Our docs have been updated with all the information regarding our governance model as well. You can check them here:
