Date : 25 May 2021
Host : HunterX & GemFlair
Guest: TRIBEONE TEAM (Mehdi Suleman — CEO , Tan — Director)
Hello! Spykefastians & Blockchain Enthusiastic!
We recently hosted an AMA with TribeOne, on 25 May at 1 PM UTC. So here we are up with the AMA transcript, for those who missed the live session, this post will be a saver & a feeder of knowledge for them.
INTRODUCTORY QUESTIONS — BY SPYKEFAST TEAM.
HunterX | Spykefast (@realsch1- twitter):
Meet the director of partnerships at TribeOne 🔥
https://twitter.com/tribeonedefi/status/1393208905367425026?s=20
Q1. Kindly give brief introduction about yourself, Crypto experience and your role at #Tribeone Project?
Mehdi | TribeOne — 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 east region. I was handling massive portfolios consisting of financial products like credit cards, car loans, personal, home & commercial loans etc. From inception to growing business we ended up building a total value locked over $1.2 billion.
I have been a crypto enthusiast since 2016 and have been actively trading in the crypto space since then. I even burnt some of my savings during the initial bear market around early 2018 but still stayed an avid supporter of crypto. My past professional career was all about banking and finance, I spent more than two decades heading teams in the major banks in the middle east region. During my tenure, I used to get frustrated due to the rigid and ancient infrastructure of traditional banking. As I already had an interest in the crypto world, I always used to dream of a perfect marriage 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. TribeOne became the reality of that dream.
HunterX — That’s some great credentials in terms of experience in crypto as well as the banking sector. 🙌🙌
Mehdi | TribeOne — 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 | TribeOne — This is Tan, I am the director of partnerships at TribeOne 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.😎
Also, I would like to mention our head of credit risk, Amr Ezzat who has worked in the largest banks in the financial risk space as a remarkable senior risk analyst with over 10 years of building credit financial modeling for underwriting retail & wholesale risk portfolios.
HunterX — A team jam-packed with right mix of experience in required fields. 💪
Gem Flair — Thats vast experience you both have. 👍
HunterX | Spykefast (@realsch1- twitter) — Q2. Let’s talk in detail about #Tribeone project. What are the main features of the project?
Mehdi | TribeOne — Well TribeOne is an evolution that is redefining the DeFi sphere! 🤩
To begin with, we aim to make the DeFi and NFT world better. Currently the lending space within DeFi is overly collateralized. This situation is creating problems for borrowers and is not benefiting them. We are launching a first all-in-one platform with consumer centric features like NFT funding, zero to low collateralized loans, tailor made loans to micro financiers and SMEs, DeFi insurance. There is no such platform out there which overcomes all problems at once.
Our experience in the traditional finance world brings that X factor which is key when trying to differentiate from the numerous lending platforms out there, our knowledge base of the team particularly in risk management gives us that edge over what is out there as we are better equipped to deal with the situations in the DeFi lending space. These are some of our features that light up TribeOne.
Gem Flair — Q3. What are the major utilities of holding the #Tribeone Native token? $HAKA? Probably one of the Native tribe of some country? How does team plan to enhance it value so as to attract users onboard?
Tan | TribeOne — That’s an interesting question!😊
I will try to answer it in detail so everyone understands it properly
Before jumping into our token’s utilities. 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 products are named after the different tribal words. Our token $HAKA means “War Dance” that indicates the power of holding the token and succeeding.
Now let me explain the token utilities:
-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.
HunterX | Spykefast (@realsch1- twitter) — Q4. The website make a mention ‘Be your own Bank’.. How is that possible? How has the development been so far with Tribeone Platform? Are things proceeding ahead right on track?
Mehdi | TribeOne — 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.
TribeOne is launching the first all-in-one platform with consumer centric features like NFT funding, zero to low collateralized loans, tailor made loans to micro financiers and SMEs, DeFi insurance. There is no such platform out there which address all of them under one roof.
HunterX :
Sharing some graphic for the community as well.
Mehdi | TribeOne — As far as our future plans are concerned we are right on track and we would be launching our NFT funding platform in Q3 of this year. This will be built initially on the Binance Smart Chain and then migrate to the Polkadot network once the mainnet is live. In the later quarters we would launch our loans and SME platforms.
HunterX | Spykefast (@realsch1- twitter) — Q5. How is #Tribeone project different from other competitors?
Tan | TribeOne — TribeOne aims to bring improvement and innovations to the DeFi world. Currently the lending space within DeFi is overly collateralized. This situation is not in favour of the borrowers and is not giving back enough to them. We are launching a first all-in-one platform with consumer centric features like NFT funding, low to zero collateralized loans, loans to micro financiers, DeFi insurance etc. There is no such platform out there which solves all the user needs at one place. 🤩
HunterX | Spykefast (@realsch1- twitter):
It’s meme time! 🐸
https://twitter.com/tribeonedefi/status/1396835477555089408?s=20
Q6. What major events can we expect in the 2021 #Tribeone Development Roadmap? Any details about the public sale?
Mehdi | TribeOne — Well, we are currently working on catching the wave of NFTs, by focusing on launching our NFT platform first according to our roadmap. We are working behind the scenes multiple collaborations announced in the upcoming months with leading NFT marketplaces.
As mentioned earlier we will have our NFT platform initially launched on the Binance Smart Chain and then migrate to the Polkadot network once the mainnet is live. In the later quarters we would launch our loans and lending products for individuals and SME.🚀
Public sale will be announced soon, please keep a close lookout on our socials 😎😎
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/
LIVE AMA QUESTIONS.
Ieo alert — Q1.“STAKING” is one of the STRATEGIES to ATTRACT USERS and HOLD Them long term.
Does your GREAT PROJECT have plan about Staking?
Tan | TribeOne — Well TribeOne is here to stay for all its users, so that together we can redefine the DeFi space like never before.
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. 🤗
If you go through our road map, we will keep on launching new products every quarter to ensure that the interest of user and investor remains intact in our project hence we aim to keep our project mutually beneficial for all.
Another point to note is that we have a deflationary ecosystem, for every successful loan paid back, a portion of the profits is allocated to burn the token supply until it is reduced to 50%! Hence it will increase token adoption.
Migo — Q2.In your whitepaper you have mentioned about zero collateral loans for masses.
What are the conditions of getting zero collateral loans and how are you managing the risk of defaulters with this?
Mehdi | TribeOne — This product is non existent in the DeFi lending space, it carries a lot of risk on the lender considering the space we are in; that’s why TribeOne is best suited to overcome this challenge as our team is equipped to deal with the risk mitigation is processing these type of loans. The way this loan would be issued is that it will be granted to users who service the loans initially with collateral where would be able to evaluate their behavior and based on that the user would be eligible for low to zero collateral loans; so this is not given to users from Day 1
Cryptix45 — Q3.What is the speciality of your superhero RAROC (Risk-adjusted return on crypto). How will it benefit us instantly? @mehdisuleman
Tan | TribeOne — First let me introduce RAROC to you all
Meet our very own super hero🦾🤩
RAROC stands for “Risk Adjusted Returns On Crypto”. It’s our superhero and will present quite a few added benefits for TribeOne’s users. RAROC is an AI based inbuilt financial actuary for the safety of our users. Using AI technology will take away the human error aspect of the process and make it more accurate for the users.
RAROC is our digital brain calculating all your potential risks. It safeguards you from price volatility and lowers the loss ratio, resulting in better borrowing rates and returns on investments.
RAROC is our proprietary risk algorithm that provides TribeOne to mitigate risk when issuing loans hence maintaining a low loss rate and allowing it to integrate across a broad spectrum of industry verticals in a space with limited access to centralised third-party data sources.
Bobby — Q4.What are the speciality of the different types of borrowing you provide?
Is there any speciality in those specific names?
@Tan_DeFi
@mehdisuleman
Mehdi | TribeOne — Yes, let me take you through our four types of products under borrowing in brief:😊
i) NFT borrowing — Revolutionary tailor-made NFT centric products that TribeOne will offer to all
NFT Loans — Loans offered against NFTs as collateral
NFT Mortgage- Loans offered to buy NFTs
ii) Poloka Loans-
- Loan to value upto 90%
- Automatic approval, no credit checks
- Zero fee and flexible repayment
- Optional insurance coverage through our DeFi Insurance Partner
iii) Laiti Loans-
- Tailor-made loans for micro financiers offering low to zero collateralized loans
- Optional insurance coverage through our DeFi Insurance Partner
iv) Mana Loans-
- Low to zero collateralized loans
- Users get access to this product after creating a credit profile by paying their instalments on time
- Optional insurance coverage through our DeFi Insurance Partner.
Lonely Day:Which one of these aspects important for you?
1-Increasing Token Price&Value
2-Empowering Platform Development
3-Building Community Trust
4-Expanding Partnership Globally
In what order?
Mehdi | TribeOne:
1-Building Community Trust
2-Empowering Platform Development
3-Expanding Partnership Globally
4-Increasing Token Price & Value (if we do what we set out to do with TribeOne; Token value will be organically grown)
Zulfikar:
In decentralization, We all know that speed is needed, as is the current problem faced by the expensive Eth Gas Fee and the slowing of the transaction process. what are your plans to deal with this problem on TribeONE ?
Tan | TribeOne:
Yes I agree with your opinion and after noticing that the gas price of Ethereum is high and it’s added cost for the users, our team evaluated that it will be better option to build on Binance Smart Chain and eventually we will be migrating to PolkaDot in the near future.
For TribeOne, the only way to make our platform, or any platform for that matter, user accessible is by keeping the Gas fees low. By building on Polkadot, we eliminate a lot of the external costs off from the user which would encourage more usage and adoption from the community. Making it more user friendly and community driven.
We have the vision of making our platform accessible across all the different blockchains hence our tech team is working on enhancing our cross chain interoperability and besides ETH, BSC and DOT, we will also work on adding more chains to our armour.
It is a term used in Financial corporate world. Based on his experience from traditional finance, he remixed the traditional RAROC to fit the DeFi world 🤩😎
CLOSING REMARKS .
Tan | TribeOne:
I must admit that community questions are really good and it was awesome being here.
Ibrahim:
Thank you for great ama
Tan | TribeOne:
Thank you so much for having us ..
HunterX | Spykefast (@realsch1- twitter):
It was indeed a great moment interacting with the two of you
Mehdi | TribeOne:
bye all! thanks for having us!!!!😀
Zulfikar:
Thank you for your time
Tan | TribeOne:
Bye all.. Stay safe !!
HunterX | Spykefast (@realsch1- twitter):
Thanks for being here. 🙌🙌❤️
IMPORTANT LINKS.
Telegram: @tribeone
Twitter: https://twitter.com/tribeonedefi
Medium- https://bit.ly/3biA4ex
LinkedIn-https://www.linkedin.com/company/tribe1
Website- https://www.tribeone.io/
Spykefast TG : https://t.me/spykefastofficial
Contact Spykefast Group (TG Members — @realsch & @Gem_Flair) for promotions and AMA!!
