Tribally to Launch $TRIBAL Public Token Sale on September 5th

Cross-chain social gaming infrastructure platform Tribally has announced that the public sale for the $TRIBAL token is scheduled to start on Thursday, September 5th, and you can already pre-register ahead of this upcoming TGE by completing KYC and connecting your wallet to the investor dashboard linked in this tweet.

What Is the $TRIBAL Token?
$TRIBAL is an ERC-20 token that the web3 community will be able to purchase using $USDC on Ethereum, Ronin, and Base. It is designed to transform the platform’s currency into an on-chain token to enable trading and true ownership while enabling new ecosystem features.

It comes with a total supply of 600 million tokens that is planned to be reduced by 20% using treasury burning mechanics where each transaction on the platform leads to a small number of tokens getting burned. This burn feature will continue until 120 million tokens have been burned.

The upcoming public listing will offer 64 million $TRIBAL tokens, through which the developers look to raise at least $2.5 million that will be used to fund “the expansion of our platform and technology,” according to the allocation section of their whitepaper. The team has 96 million tokens (16% of total supply), with 25% of it locked for 1.5 years followed by a 1 year vesting schedule, while 75% of their tokens are locked for 2.5 years with 2 years of vesting. 30 million advisor tokens are also locked for 1 year and have 1 year vesting, while the 75 million tokens allocated for investors have a bit more complex schedule due to there being multiple token sales.

With the launch of this token, blockchain gamers will truly be able to monetize their time spent playing web3 games partnered with the platform, such as Axie Infinity, Apeiron, Pixels, Mighty Action Heroes, and more. Businesses and gaming studios will be able to utilize various B2B services to financially improve the ecosystem while increasing their project’s own userbases through the use of a variety of growth mechanisms such as gameplay and social quests, game spaces, tooling, NFT sale support, and more activation services.

Holders will be able to spend the token on various premium features such as wagers, the Battle Pass, group boosts, the Blessings Machine, and a secret ‘Project P’ for which more details will be revealed later this year.

Wagers revolve around betting $USDC and $TRIBAL tokens on scheduled PvP Challenges across various games, with wages made with $TRIBAL tokens having a lower commission rate. The Tribally Battle Pass is a monthly subscription feature paid for using $TRIBAL tokens to unlock various benefits that include exclusive daily quests, increased win % for the Blessings Machine, bonus profile customization options, the option to bridge earned tokens off the platform, and more.
Megan Anderson, for ICN dot live