As our platform improves and unlocks new features, use cases of $HAKA also expand. TribeOne is a platform that has more than one string to its fiddle. Here are a few of the reasons why $HAKA proves to have a sustainable growth:
Burning Mechanisms
After 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. This was the first-ever burn TribeOne has conducted which has significantly boosted the deflationary utility of our token.
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.
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.
This refers to the option where a user who has applied for a loan can back-out in between & the NFT they had selected for purchase will be sold back onto the open market. 80% of the revenue that would be generated from liquidating this NFT would be provided to the custodian and 20% of the liquidated profits is set to be used to buy-back $HAKA from the market & burn.
Adding on to this mechanism, TribeOne will also be using 10% of the revenue earned from every successful transaction to buy-back & burn tokens, therefore, creating a deflationary ecosystem.
This combined with other utilities of $HAKA shows a viable growth in the long-run for $HAKA hodlers especially considering the various utilities the token holds as well.
Staking
Another proven method to maintain the stability of $HAKA is providing staking investment options. Staking would lead to locking a significant circulating supply of our token which would ensure that the demand does exceed the supply. As of writing this article, we have had around 12 million $HAKA staked from our total circulating supply into various staking pools.
Let’s talk about what we did so far.
From 2021- 2022, we have collaborated with KuCoin, HotCross, Golff, UniFarm, BSC Station, and Pool-x. Those who like to hodl received great rewards for staking $HAKA and enjoyed incredible APRs.
At the time of writing, there are numerous ongoing staking programmes where you can utilize your $HAKA for excellent returns and you can stay updated on the staking programmes by following us on our various social media platforms.
Other Utilities
Currently, our native token, $HAKA, is supported on our platform for the purchase of NFTs through our dApp which can be considered as another 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:
Pancake Swap: https://pancakeswap.finance/info/tokens/0xd85ad783cc94bd04196a13dc042a3054a9b52210…
Kucoin: https://kucoin.com/trade/HAKA-USDT
Uniswap: https://v2.info.uniswap.org/token/0xd85ad783cc94bd04196a13dc042a3054a9b52210
Any crypto protocol’s upward mobility relies on tokenomic models — through the very many utilities our token provides, this would shift $HAKA’s demand-supply metrics to a favorable standard, & ensure that TribeOne is not only a successful protocol, but also a sustainable one.
About TribeOne
TribeOne is the world’s first-ever NFT lending platform that offers a seamless experience; to the users through its innovative consumer-centric products. The platform will break barriers in the traditional financial ecosystem and revolutionize the DeFi sphere as a whole. Providing the community with a platform to lend, borrow and invest in NFTs. Therefore, offering an unconventional experience for all.
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