AMA Recap of Dude’s Army x TribeOne

On Wednesday, May 26th, Dude’s Army community had the great opportunity to host an AMA with TribeOne’s team, very instructive and educational. We will share with you a little bit of what this experience was like.

The Dude👨‍💼:

To start the AMA with a good vibe I will give you freedom now to introduce yourselves and share a bit of your background!

Mehdi | TribeOne:

Hi guys, It’s nice to see you all!😄

My name is Mehdi Suleman, I carry over 20+ years of experience in the largest retail banks of the Middle East region, building products and teams with the inception to growing business with total value locked over $1.2 billion. Throughout my tenure, I worked in senior leadership roles overseeing business, operations & managing large cross-department teams. Now, I am the founder and CEO of TribeOne.

Tan | TribeOne:

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.😎

Also, we 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. He is our Head of Credit Risk at TribeOne. ☺️

The Dude👨‍💼:

Please explain our community what TribeOne is doing and why the space needs it

Mehdi | TribeOne:

In the simplest terms, we are a DeFi platform where the users will be able to get loans by using their NFTs as collateral.

It’s an innovative lending space with the added features of rewarding regular users who create a consistent repayment history with the access to zero to low collateral loans.

In addition to this, the main feature is that loans are offered to users against their NFT’s, users can also pool invest in NFTs or get a loan to buy an NFT.

Tan | TribeOne:

Exactly, this is something we want to bring to current space by bringing experienced professionals with proper financial expertise to add value to DeFi ecosystem.

The Dude👨‍💼:

Definitely a product that I have been waiting for a while. The only issue I see on this product is ETH current gas fees situation

How do you plan to get over that?

Mehdi | TribeOne:

It is and we are looking to sort that out by eventually building on DOT..

The Dude👨‍💼:

What about token utilities?

There’s also ETH 2.0 next month so let’s see how things will be.

Tan | TribeOne:

I agree bro, we noticed that the gas price of Ethereum is high and it’s not benefiting users. Based on this evaluation and our tech team’s recommendations, we felt that it’s a better option to currently build on BSC and 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 🦾🚀

Mehdi | TribeOne:

We wanted to have the users to have plentiful use cases for the token so there are lot 😀😀 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.

Community Questions

Q1 from Luis:

I’ve actually read about a lot of DeFi loan projects, and none of them have provided rewards for early repayment, but could you really tell us more about how to get those “refunds and offers”? Will it be for paying an advance fee? or to pay the full loan before the established time?

Mehdi | TribeOne:

So right now there is no incentive for borrowers to pay back loans early, the way the DeFi lending formula is exactly the same as it is in the traditional world of finance, the reason why banks prefer to extend longer terms of borrowing is to earn interest for a longer period now unlike in the traditional financing it is not as easy to have a recourse for delayed payments so by offering the borrower this added bonus of rewarding the user to payback early it lowers the risk of the lending pool and pushes the borrower to payback faster which in turn benefits the borrower. On closure of the full loan at an earlier date the borrower is paid back an amount in the TribeOne $HAKA

Q2 from Habibi_ve:

I could read in your roadmap that for this Q2 you have planned to list on DEX. Could you please detail where is it available at this $HAKA time to buy? Are you working on listing on CEX?

Tan | TribeOne:

As per our roadmap, we are on track and will be listing on DEX in June. Please join our telegram and twitter channels to stay updated about the announcement of DEX and listing.

Telegram- https://t.me/tribeone ; https://t.me/tribeone_ann

Twitter- https://twitter.com/tribeonedefi

TribeOne 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.

Our future plans also include us launching our NFT funding platform in early 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, subsequently we would launch our loans and SME platforms.

Q3 from 🍓Pui 🍓 Pui 🍓:

TribeOne’s website says “BE Your Own Bank” How can TribeOne achieve this? What are the breakthroughs that TribeOne has compared to other DEFI systems or traditional financial system?

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 addresses all of them under one roof.

Q4 from Ang Bronx:

I read that #TribeOne has a deflationary ecosystem which will cause scarcity at long run. Is it burning and buyback? Can you explain to us how does it works?

Tan | TribeOne:

We do have a token burn in place, where 10% of the profit earned from every successful transaction is used to ensure we have a deflationary ecosystem i.e. the burn will continue till the total supply is reduced to 50% hence more value for money for HAKA holders. We foresee TribeOne being a bridge between the traditional banking users and the DeFi space so we can bring greater adoption within crypto ecosystem by providing user centric financial products.

Q5 from Jose Gamboa Candurin:

TribeOne, the world’s first truly AI-powered decentralized financial platform backed with RAROC (Risk Adjusted Return on Cryptocurrencies). But what is RAROC? How does it work? What benefit will it offer Tribeone users?

Mehdi | TribeOne:

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.

Raroc is tribeones proprietary “Digital brain” that evaluates the risk for investors by profiling borrowers based on their repayment track record so that a potential investor would be able to assess their investment decision.

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.

Q6 from Tahani SG:

I have never read about NFT based loans, how does it work? is it as liquid as a normal loan? What are the advantages and disadvantages of this type of loan?

Tan | TribeOne:

NFT is quite in the trend!

There are a few projects out there 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 strategic partners.

We have modelled the financing of NFT as we would when offering loans against real estate, NFT value is not short term as like Traditional Art it will hold value, so to ensure we are able to get the NFT financed we will be having two independent evaluations being conducted on the NFT with the average weighted price being considered when finalizing the LTV. By having an accurate measurement on this “Asset class” this would help us secure a healthy asset to our portfolio thereby securing the investors interest

Q7 from ANA:

If one of the advantages in DeFi is “unsecured” loans, then why does TribeOne require a 20% guarantee on the loan? And if you really require this minimum guarantee, then why can users with good credit history get zero guarantees?

Jae Yang:

The way unsecured loans works in traditional finance is that a borrower is evaluated on parameters hence they are eligible for unsecured loans, in DeFi we have a couple of parameters to work with hence it makes the the risk evaluation limited for that reason we are able to assess users who could be eligible for a zero collateral or a 20% collateral the reason for this percentage is based on how they performed on the standard loans based on collateral, what type of collateral was provided, how was the repayments, how old is the user address and bunch more parameters which we have identified, based on this compilation we are able then t assess where the borrower fits in terms of collateral LTV is needed

About TribeOne

TribeOne is an advanced financial ecosystem focusing on simplifying decentralized financial products, making them readily accessible for masses. The TribeOne Ecosystem serves the purpose of offering a wide range of niche services — ranging from secure and unsecured loans to trust loans and savings products.

More information about TribeOne:

Website: https://tribeone.io

Telegram: https://t.me/tribeone

Twitter: https://twitter.com/tribeonedefi