As the governance token of FEI Protocol, TRIBE enables the ecosystem to maintain liquidity so that FEI can train close to the ETH/USD price. In addition to maintaining price stability, holders of TRIBE can participate in protocol functions such as voting on adding to the bonding curve of new tokens and modifying the price of existing curves.
You may be wondering what the difference is between FEI and TRIBE since you have to use one to explain the other.
TRIBE acts as sort of a Web 3.0 decentralised bank designed to bridge the gap between crypto-backed collateral and fiat-backed collateral. TRIBE token holders are able to vote on the adjustments made to FEI’s stable coin. On the other hand, FEI maintains a specific peg for the sake of stability. There is a FEI Protocol and FEI Stablecoin— FEI Protocol runs on two assets: FEI Stablecoin and TRIBE. FEI Protocol’s stablecoin and TRIBE token has three founders: Brianna Montgomery, Joey Santoro, and Sebastian Delgado.