Rattibha

#15 @Tribe3Official Gamified #NFT Perpetual DEX
Perpetual + NFT + Community
In this thread
1. TLDR What is Tribe 3
2. How does it work?
3. Similar product yet different approach
4. Summary
#nftifi #socialfi

TLDR
Tribe3 is a perpetual dex that allows users to leverage trade #NFTs up to 5x with a social trading aspect included in their DEX.

How does the protocol work?
Tribe3 has two price
-Futures (vAMM Price)
-Spot (Oracle Price)
Just like my previous post on nftperp, they both use vAMM model.

Traders can go long or short on “future” price, their profit will be based on their exit “future” price.
The spot price (Oracle Price) will be the NFT floor price on the market ( though the team didn’t seem to have specified how they get the price feed.

Tribe3 uses the same vAMM concept as @perpprotocol but with adjustment in x*y=k.
Can read more about it in my previous tweet on @nftperp

It funding rate is based on

Similar product yet different approach
Tribe 3 took a different approach in perpetual NFT dex. It focused on a lot on social aspect it has “Battle”, “Avatar” & “Leaderboard” on its page.

On “battle”, its coming soon page, it gives me vibes of those mini trading game u have in CEX like the binance battle.

For avatar, there are these achievements base rewards (maybe nft)

Summary
Tribe 3 gave me a “ah-ha” moment. NFTs are about community, meme and culture, with those mini social aspect in tribe3. You can build all the defi money legos on top of nfts like option, buy now pay later, hedging etc etc,

but the team from tribe3 took a different approach, just embracing NFT’s core, community and social. Although its gitbook is not very technical and detailed, vAMM model has proven to be challenging in picking up trading volume, but will NFTs and social aspect be the right fit?

Social trading, gamify trading are nothing new, but mixing it with NFT trading suddenly becomes a breath of fresh air. Trade more to get “cross over bayc nft”? Top 10 nft traders 2023 Collectable. Sounds like something i’d fomo to.

Whether is it going to work or a good investment its too early to say but I like the approach the team are taking so far. I guess thats why people from @TheSpartanGroup @TheSpartanGroup , @ivcryptofund @ivcryptofund invested.

It will be interesting to see protocols like nftperp with similar design yet more focus on the technical & math like showing correlation of “future” & “spot” on their dune dashboard in comparison to tribe3’s approach.

I do look forward when their mainnet launch and compare the trading volume then.