Connect with us

Press Release

TRIBUTE: The Community Controlled DeFi Platform with Deflationary Mechanism

Published

5 years ago

on

TRIBUTE (TRBT) is a deflationary DeFi platform that uses game theory analysis and social influence to create an exciting and unique economic landscape. 

The TRBT ERC20 token follows a liquidity distribution mechanism called “Proof of Decentralized Liquidity” (PoDL), with about $1M in liquidity currently locked in the protocol. 

This model allows users to have a direct share in stabilizing the TRBT price, which is currently holding steady at $9.65 on CoinMarketCap. 

The platform saw a $3M trading volume on its first day, with 640 unique wallets holding TRBT in 4 days. In the past few days, about 4% of the total token supply was burned. This high burn rate creates an incentive to hold the token by bolstering the circulation’s token demand. 

The Tribute ecosystem already has three dApps at its disposal; conTRIBUTE, ENFORCED TRIBUTE, and TRIBUTE TO LIQUIDITY. These dApps give the project a rare aspect of instant utility in the DeFi space.

Moreover, these dApps create a separate incentive to interact with the project’s native token and maintain a steady flow of TRBT moving through the ecosystem.

Why is TRIBUTE Unique in DeFi?

Tribute features fully decentralized elements that delegate full ownership and control to its users, allowing them to choose which dApps integrate into the platform. The team has no dev fees on any of the dApps. 

The project has started building upon the starting suite of dApps with the long-term vision of outlining longer-term dApp incorporating governance. 

The first dApp, conTRIBUTE, is well funded and has an established token distribution model which rewards TRIBUTE token holders and staked users via a “synergistic method.” 50% is sent to conTRIBUTE as dividends to the stakers directly.

The dApp’s solid distribution model guarantees that 5% of all buys and 15% of all sells into conTRIBUTE are disbursed to players as dividends. Each user gets rewards that are proportionate to their percentage share, with 

In the past few days, 11% of the total token supply was staked in conTRIBUTE. Holders utilizing the dApp earned $51,000 dividend rewards, with $730,000 worth of tokens now remaining.

Moreover, the conTRIBUTE PoDL concept offers TRBT users access to initial liquidity after 100 days via a Decentralized Autonomous Organization (DAO). 

 

TRIBUTE’s Deflationary Mechanism Bolsters Token Demand

The project’s ENFORCED TRIBUTE dApp uses a solid distribution model with an initial supply of a scarce 75,000 tokens. 

Every 12 hours, any user can trigger a smart contract to transfer 10,000 TRBT tokens, which go into a secondary contract within the dApp. 

The top 50 holders receive 5% of the total number of tokens transferred, while 500 TRBT are burned instantly, as per the project’s whitepaper. 

This process repeats itself after 12 hours, where the same contract transfers 10,000 tokens from the secondary contract to the initial one and burns 500 TRBT while triggering a reward drop of 5%. 

In this way, the dApp creates an increased sense of scarcity in an already scarce economy, bolstering the circulation’s token demand. The reward and burn process creates a self-cycling and hyper deflationary ecosystem. 

The TRIBUTE Lottery Rewards System

The final dApp at launch, TRIBUTE TO LIQUIDITY, further implements the PoDL mechanism by granting the community members full control of the DeFi protocol.

It does this via a lottery system in which users can purchase tickets using TRBT to enter into a daily raffle. The raffle utilizes a secure and trust-less algorithm to pick one lucky winner. 

50% of all TRBT entered into the lottery is burned, creating a hyper deflationary mechanism into the platform’s smart contract. 

Rewards issued for the lottery are a percentage of the total number of tokens controlling the TRBT/ETH liquidity pair on Uniswap. 

The DeFi Platform for Community Development

The TRBT project promises to solve many of the problems facing DeFi by building an ecosystem that focuses on community-driven growth. The Tribute team announced different partnerships already, with more collaborations expected soon. 

The future now looks bright for this project that seeks to establish itself as one of the pioneering protocols exploring the DeFi/Deflationary landscapes.

Related Topics:

The Bitcoin Daily is one of the most reliable and leading portal about Technology News, Latest Updates, Financial News, Business and any all subjects related to technology and blockchain.

Continue Reading

Press Release

MSX Announced as Platinum Sponsor for Hong Kong Web3 Festival 2026

Published

2 days ago

on

January 20, 2026

By

Hong Kong, 20th January 2026, ZEX PR WIRE, We’re thrilled to announce MSX as a Platinum Sponsor for the Hong Kong Web3 Festival 2026 taking place from April 20 to 23, 2026 at Hong Kong Convention and Exhibition Centre.

MSX is a community-driven digital asset trading platform, primarily offering global users spot and derivatives trading services for cryptocurrencies like Bitcoin and Ethereum, as well as trading services for RWA tokenized assets and bulk/forex financial products. 

The Hong Kong Web3 Festival (“the Festival”), co-hosted by Wanxiang Blockchain Labs and HashKey Group and organized by W3ME, is Asia’s premiere crypto event since April 2023. It convenes the world’s smartest minds in the Web3 and crypto space to discuss the latest trends and policies.

The previous three editions of the Festival brought together over 350 exhibitors and more than 1,200 speakers for in-depth discussions, attracted a cumulative total of 100,000 visitors, and saw over 400 diverse side events.

As Asia’s premier crypto gathering, the Festival leverages Hong Kong’s unique position as a global financial center and innovation powerhouse, bridging the vast market potential of Mainland China with worldwide Web3 advancements. This unique positioning enables the event to bring together the best resources from across the globe, offering attendees first-hand Web3 updates and networking opportunities. Get all the details here: https://www.web3festival.org/hongkong2026/#/en

Join us in staying ahead of the latest Web3 trends and policies while building meaningful relationships with leading projects, investors, and tech pioneers. Secure your tickets at just $399: https://lu.ma/hkweb3festival_2026

Be our partner: https://tally.so/r/w5YEbP

 

Continue Reading

Press Release

OKX Web3 Confirmed as Title Sponsor for Hong Kong Web3 Festival 2026

Published

2 days ago

on

January 20, 2026

By

Hong Kong, 20th January 2026, ZEX PR WIRE, We’re thrilled to announce that OKX Web3 is a Title Sponsor for the Hong Kong Web3 Festival 2026 taking place from April 20 to 23, 2026 at Hong Kong Convention and Exhibition Centre.

OKX Web3 is committed to Web3 technological innovations, and has developed OKX Wallet as an industry-leading decentralized multi-chain wallet that enables you to access and explore the Web3 world.

The Hong Kong Web3 Festival (“the Festival”), co-hosted by Wanxiang Blockchain Labs and HashKey Group and organized by W3ME, is Asia’s premiere crypto gathering that has been annually held since April 2023. It convenes the world’s smartest minds in the Web3 and crypto space to discuss the latest trends and policies.

The previous three editions of the Festival brought together over 350 exhibitors and more than 1,200 speakers for in-depth discussions, attracted a cumulative total of 100,000 visitors, and saw over 400 diverse side events. 

As Asia’s premier crypto event, the Festival leverages Hong Kong’s unique position as a global financial center and innovation powerhouse, bridging the vast market potential of Mainland China with worldwide Web3 advancements. This unique positioning enables the event to bring together the best resources from across the globe, offering attendees first-hand Web3 updates and networking opportunities. Get all the details here: https://www.web3festival.org/hongkong2026/#/en

Join us in staying ahead of the latest Web3 trends and policies while building meaningful relationships with leading projects, investors, and tech pioneers. Secure your seats: https://lu.ma/hkweb3festival_2026

Be our partner: https://tally.so/r/w5YEbP

Continue Reading

Press Release

Happymeta Announced as Primary Exhibition Sponsor for Hong Kong Web3 Festival 2026

Published

1 week ago

on

January 14, 2026

By

We’re thrilled to announce HappyMeta as a Primary Exhibition Sponsor for the Hong Kong Web3 Festival 2026 taking place from April 20 to 23, 2026 at Hong Kong Convention and Exhibition Centre.

Happymeta is building a decentralized metaverse asset platform, leveraging blockchain technology to redefine the relationship between users and digital assets, enabling an open, fair, and sustainable metaverse economy. Learn more at https://www.happymeta.io/

The Hong Kong Web3 Festival (“the Festival”), co-hosted by Wanxiang Blockchain Labs and HashKey Group and organized by W3ME, is Asia’s premiere crypto event since April 2023. It convenes the world’s smartest minds in the Web3 and crypto space to discuss the latest trends and policies.

The previous three editions of the Festival brought together over 350 exhibitors and more than 1,200 speakers for in-depth discussions, attracted a cumulative total of 100,000 visitors, and saw over 400 diverse side events.

As Asia’s premier crypto gathering, the Festival leverages Hong Kong’s unique position as a global financial center and innovation powerhouse, bridging the vast market potential of Mainland China with worldwide Web3 advancements. This unique positioning enables the event to bring together the best resources from across the globe, offering attendees first-hand Web3 updates and networking opportunities. Get all the details here: https://www.web3festival.org/hongkong2026/#/en

Join us in staying ahead of the latest Web3 trends and policies while building meaningful relationships with leading projects, investors, and tech pioneers. Secure your tickets at just $399: https://lu.ma/hkweb3festival_2026

Be our partner: https://tally.so/r/w5YEbP

Become our speaker: https://tally.so/r/31Ybgb

Continue Reading

Trending