Red Kite AMA with TribeOne on 16th June, 2021

Guests’ background and how did they tap into blockchain industry?

Mehdi: Hi guys, It’s nice to see you all!

My name is Mehdi Suleman, my background for the better part of my life has been in the banking sector with 20+ years of experience where my expertise led me to work for the largest banks in the middle eastern region. I was handling massive portfolios consisting of financial products like credits, car loans, personal & commercial loans etc. From inception to growing business we ended up building a total value locked over $1.2 billion.

Throughout my tenure, I worked in senior leadership roles overseeing business, operations & managing large cross-department teams. The surge of DeFi really sparked my interest and I did thorough research in how to build a decentralized financial ecosystem. That bought the idea of TribeOne. Now, I am the founder and CEO of TribeOne.

Tan: Hello everyone! I am Tan Ahmad, the director of partnerships with extensive experience of over 15 years resulting in a deep passion for crypto and understanding the business needs and aspirations. I have worked with reputable companies like deVere Group & Ibex Global. I aim to bring a lot of unbridled energy to build the TribeOne partnership ecosystem. Now, I am the Director of partnership at TribeOne.:sunglasses:

I have been a staunch crypto supporter of blockchain technology for a few years now and have been moderately active in crypto trading for the last year and a half. I simply love how the crypto space and particularly DeFi is revolutionizing the current world for the betterment of everyone. Hence when Mehdi approached me with TribeOne’s idea and his aim to further improve the current space, I was instantly sold.

Project Intro

1. Could you briefly tell us 3 words to quickly describe your project?
Mehdi | TribeOne, [Jun 16, 2021, 7:39:43 PM]:

AI Powered


User Centric

2. Your view on the rise of NFT market recently? And what are your strategies to make TribeOne outstanding?
In my opinion, NFT is being treated similar to what has happened in the past, pump and dump. We see NFT holding value over a period of time which is only possible if the user has the holding power and that power can only be achieved through our financing solutions. There is a lot of risk involved when investing in NFTs considering it being so nascent, but we are introducing a well equipped tool — through our expertise in risk management, we will do risk mitigation by reducing the risk factors that facilitate users with access to evaluation measurement of the NFT and our inhouse risk actuary.

As far as other projects are concerned they are more like a marketplace for NFTs and P2P lending space for users. TribeOne is more than that, we offer users to get a loan against their NFTs and also a facility to buy, borrow and lease with NFTs. Along with all the other features we provide, we also safeguard users against all risks by our DeFi insurance products with the help of our partnerships.

3. Why do you choose to launch on RedKite by PolkaFoundry?
Well there are quiet a few reasons that we had to choose PolkaFoundry as our launchpad. I will try to mention them

Some of the promising features of RedKite, which convinced TribeOne to launch with them and also attributes which will set it apart from others.

  1. Parachain Crowdloan
    Red Kite will not only be the first launchpad on Polkadot, but it will also support the crowdloan campaigns for parachain auctions on both Polkadot and Kusama.

  2. Tier and Reputation
    To further strengthen the platform, our bot system monitors every participant’s behavior and sets reputation points. This mechanism punishes behaviors that are considered negative to the token’s healthy pricing. The reputation score will affect the participant’s tier and their ability to participate in future launches.

  3. Fairness (lane-based swap system)
    With Red Kite’s lane-based swap system, every participant will get an opportunity to join based on their tier without indulging in a ‘gas war’ to ensure fair and efficient participation.

For TribeOne the only way to make our platform or any platform for that matter user accessible is by keeping the Gas fees low, with Red Kite, we will eliminate a lot of the external costs off from the user which would encourage more usage and adoption from the community. Making our project more user friendly and community driven.

Twitter questions:

1. Where did you get the inspiration name and the logo of TribeOne? What is the story behind it? How will investors and users experience it?
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 products are named after the different tribal words. Our token $HAKA means war dance that indicates the power of holding the token with victory.

The seed was probably sown during the first bull run back in 2017 where the hype around bitcoin overshadowed the utility of blockchain. Once the dust settled down, it was the introduction of the revolutionary DeFi concept that connected the dots between the traditional ways of finance and the crypto world.:earth_asia:

The idea behind the name TribeOne was our aim to bring the community together and provide them with a one-stop-shop for all their financial needs. Our motto “Be your own Bank” is a revolution that breaks through the barriers of traditional financial systems. The barriers like lack of transparency, unequal access to financial services, rigid infrastructure that are faced by users while opting for financial products.
TribeOne believes that the users should manage their own finances and must be aware of where their hard earned money lies.

In short we want to build a strong community like a Tribe and move ahead towards success as One hence the name TribeOne :grinning_face_with_smiling_eyes::muscle::rocket:

I guess I got a bit emotional as it is too close to my heart.

2. Since the hacking incidents are happening a lot lately, investors are looking for secure projects. I wonder how safe is TribeOne ? Did TribeOne Audit already? Can users and investors safely invest in TribeOne? Please give some information about your security system.
Its a very relevant question in current time.

TribeOne is a secured ecosystem that has measures to safeguard it’s users.

We have gotten our smart contracts audited by one of the best auditors in the crypto space. Along with AI based financial actuary - RAROC we are also collaborating with DeFi insurance providers who will provide coverage and protection against market volatility, hacking, and credit risk.

We will be collaborating with DeFi insurance providers who will provide coverage and protection against market volatility, hacking, and credit risk.

The features that will help us sustain our product line which will benefit users in the long run and our core team possess over 20 years of traditional financial experience that gives us better understanding of the users needs.

3. What is your view on the future of NFT? What is the good point of TribeOne that gets people interested in using TribeOne?
Yes, NFT is quite in the trend!

NFT are trending but we see this as being a phase where the real value will be the holders of “quality” NFT and that’s where TribeOne can facilitate users to own NFT for the long run vs the current situation where it’s being bought and sold for a markup. We see the real value in NFT being long term and by using TribeOne we help achieve those goals for users seeking to create wealth for themselves.

As far as other projects are concerned they are more like a marketplace for NFTs and P2P lending space for users. TribeOne is more than that, we offer users to get a loan against their NFTs and also a facility to buy, borrow and lease with NFTs. Along with all the other features we provide, we also safeguard users against all risks by our DeFi insurance products with the help of our partnerships.

Live questions

1. How can the user get a zero collateral, what is the process? How you do you mitigate the risk when issuing the zero collaterals?
Zero collateral lending gives the users an option to get a loan with no collateral. This would be similar to what we did in Banking, prior to issuing larger loan sizes we would profile the user on how they would repay back on a smaller credit facility, we will mimic that process by evaluating how a user repays on a standard collateral loan and based on the assessment the user would be eligible for a low or zero collateral loan depending on how they performed, so it’s not an instant loan being granted at zero collateral! The Risk is mitigated by offering this service to users who build a reputation on our platform; so higher rating gets the borrower more favorable terms and vice versa !

2. Could you talk about the tokeconomics of tribeone? Could you let us know the benefits of holding the token? Also, are there any staking rewards for the user?

$HAKA token has been coded with the aim to boost growth in the TribeOne ecosystem. The utilities of $HAKA are as follows:

Staking Rewards:
For holding $HAKA users have access to slot allocation, additional discounts on loans and Lowered interest rates.

P2P Risk Assessment & Governance Rewards:
$HAKA is allocated as an incentive for participating in risk assessment & Governance

Slot Allocation On NFT Financing:
Depositors of cryptocurrencies in TribeOne will receive $HAKA.

Zero- to Low-Collateralized Loans:
For low collateralized loans, users only need to provide 20% of the loan as collateral.

Early Repayment Rewards:
If users settle their low- or zero-collateralized loan early, they will be rewarded in $HAKA.

Staking Discounts:
Users will also have the option to stake $HAKA tokens and earn staking rewards.

Also the users will benefit in the following ways:

  • Access to slot allocation
  • Additional discounts on loans
  • Lowered interest rates depending on staked value
  • P2P Claims Assessment & Governance right
  • $HAKA is allocated as an incentive for participating in risk assessment & Governance

3. What are the key milestones on your roadmap - both things you have already achieved and things that we can look forward to? Any partnerships and short/long term technical milestones that you want to talk about or bring some attention to?
TribeOne is on the run to achieve milestones throughout its journey. But I guess the first stepping stone was to announced the launch on the RedKite that we achieved weeks ago :star_struck::rocket:.

You all can join our social media channels to stay updated regarding the IDO updates. :loudspeaker::blush::money_mouth_face:

Telegram- Telegram: Contact @tribeone ; Telegram: Contact @tribeone_ann

For our future milestones according to our roadmap, we are building our platform initially on the Binance Smart Chain and then migrate to the Polkadot network once the mainnet is live. As far as our platform is concerned, our NFT funding platform is planned for the third quarter. We have successfully completed our first two quarters as per our roadmap planning. In the later quarters we would launching our loans and SME platforms.:rocket:

4. Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Could you tell us about your current partners, partnership plans and what benefits everyone can gain from these partnerships?
That’s my question :grin: :raising_hand_man:t2:

We look for a family of VCs, influencers and partnerships which will boost our platform’s performance and will complement our products. We look for individuals and groups who are able to help the project grow to the highest levels through their expertise, technology and reach within the crypto world.

For our current partnerships we have partnered with some of the market leading projects like PolkaFoundry, Raze Network, Faraland, Uno Re and many more to come. The announcements would be released on our official channels soon! I am really excited about it.:blush:

Watch our social media to stay updated about our upcoming partnerships!

Telegram- Telegram: Contact @tribeone ; Telegram: Contact @tribeone_ann

5. Does your project have future potential and remark it name in future by giving tough compitition. Since we see many projects coming and going. Does this project have any differences compare with other similar projects
We are developing the platform to ensure that it does survive in the long run :muscle: Competition is tough by that’s what would separate us from the rest! TribeOne is introducing products that will have utility for users that have not been implemented by alot of the other DeFi platforms as they carry risk which they may not be equipped to deal with. Our financial background gives us that edge to launch products will bring in global adoption and thats why TribeOne’s future is positive!

6. Many projects rug pulled and exit scam recently. Why should investors trust your project not to do the same?
Well TribeOne is here to stay for all its users, so that we can redefine the DeFi space like never before. That’s why we aim to launch our NFT Funding platform within 15 days of our IDO.

I would like to add that TribeOne is bridging the Gap that exists in the DeFi lending space where the use of over collateralized loans is limiting the global adoption of DeFi. So it would not be wrong to say that with our revolutionary products, the users will not only benefit in the short term but also in the long term. :relaxed:

That is true the long term vision sometimes overshadows the NOW moment, we are building out a range of lending products but we will initially be launching our platform with NFT finance so that we can bring the community a product that is not available out there so that they can start building out their own wealth creation, it has taken priority for us and would be the flagship product for TribeOne and would then be releasing the other products in the later quarters.