ReeFi Insights — Lessons and Future Prospects
Markets are down, but we’re still here looking up. Aiming for the sky. Here’s an overview of our last team AMA. You can find the recording here.
We’ll go through:
- Valuable lessons learnt
- Tribe Fund and coral planting
- ReeFi Hub and why its a game-changer
- Exciting things to look forward to
Valuable lessons in Web3
The Web3 space moves at lightning speed — no doubt. We’ve seen trends and metas come and go. Some stay, most don’t.
We’ve seen healthy trends that improve the general space and the ways communities are managed. Like for instance, FFF and their famous token market.
But at other times, we find communities jumping on the hype train & drifting from their main vision. A good example is our Sea-MT activation. We utilized ocean data with NFTs, to gamify the aesthetic value and utility of our collection — it’s fun. But taking a step back, we realized it was a distraction from our core business priorities.
Kaiporah laid out the foundations of Coral Tribe’s direction. Everything we do from now on should:
- Bring holder value
- Drive environmental impact
- Provide a positive return on investment
Optional royalties — The paradigm shift
The Web3 industry is a free market. The market is defined by people, and this year the people did not want to pay royalties. A true test of the fittest, NFT businesses were forced to adapt or die.
Optional royalties taught us a valuable lesson. Coral Tribe cannot depend on royalties to sustain its business. Royalties are more of a plus — even if royalties are enforced in the future.
ReeFi hub is our solution. Coral Tribe is still very much alive.
The Bear Market
The crash of the market following FTX was another valuable lesson. As we have seen, businesses cannot rely solely on Web3 capital. We need to grow the pie, not just slice it.
If businesses solely depend on Web3 capital, it makes the space a zero-sum game. Money moves from project to project with people fighting for what they currently believe in. We’ve seen how little liquidity there is in the market — any SaaS or platform that only applies to Web3 will have short legs during bear markets.
Future prospects
We must build on Web3, but we must also appeal to the masses. Using blockchain’s benefits, we can disrupt conventional Web2 industries.
With seamless accessibility, we bring stakeholders value, drive environmental impact, and attract new customers. Are you ready for the ReeFi Hub?
Tribe Fund
Our Tribe Fund, previously called the Impact Fund, holds untouched funds and is accumulating $SOL every day. Tribe Fund will match investments on the ReeFi Hub when they are relevant & close to the minimum funding requirements.
As a reminder, our Tribe fund is seeded with 50% of secondary sales commissions, and has been seeded with 50% of our primary sales. We currently hold the equivalent of 11,000 SOL in our Tribe Fund, including USDC.
Once we launch our Tribe Fund investments, this will bring immense value to holders. Not just through investment rewards, but with more eyes on the Tribe within the general impact investing industry.
Coral Planting Update
Coral Tribe’s impact hasn’t stopped. Our goal to plant 3000 corals around the world is getting closer by the day. You can learn more about our coral planting here.
The ReeFi Hub
Coral Tribe has made an impact and uses Web3 in novel ways. But the pieces haven’t quite come together. We tie it all together with our impact investing platform.
The impact investing market is worth trillions. The idea of driving economic rewards whilst doing good is growing — but there isn’t a decentralised, accessible platform for doing so.
Our solution is a crowd-lending platform where people around the world can invest in impact projects. Just as we curate impact investment opportunities with the Tribe Council and Pulso, we’re extending this process to reach everyone, anywhere.
We’re seeing clear market validation and opportunity for this product.
ReeFi Mechanics:
Our platform will act as a marketplace that matches the funding needs of borrowers with the investment interests of investors. We’re leveraging DeFi to tokenise shares, so that investors can have liquidity for their investments.
We have the potential to capture millions. Kickstarter is a successful example of this model that facilitates over $6 billion in funding for projects.
Here’s a sneak-peak of what to expect the ReeFi hub to be like:
- Accessible: no geographical boundaries & low minimum investment quantities.
- Trustless: Using smart contracts & NFTs to enable a trustless system of peer-to-peer lending. Taking out the need for a third party and the financial risks.
- Participatory: Enjoyed as a community, as a social experience; community roles and group activities, growth incentives.
- Driven by impact & profit: Investments aligned with the SDGs.
The Role of Coral Tribe NFTs in the ReeFi Hub
Coral Tribe members are at the heart of the ReeFi hub and will enjoy exclusive benefits.
These include but are not limited to:
- Early access to the most sought after investment opportunities
- Using $AQUA to pay for platform commissions and features
- Educational and experiential opportunities that derive from ReeFi Hub investments
- Tribe Fund voting power and its investment rewards
As the platform grows and the mechanics are established additional revenue share models will be explored.
Here are some exciting things to look forward to:
Contributors’ Structures:
The incredible talent, skills and knowledge within the Tribe is a tremendous force. Some legendary tribe members have helped us with art activations, others have built tech and some just simply offer helpful suggestions.
The Noir DAO is a perfect example of a sub-community led by tribe members. An incredible leadership council is forming and we’re excited to build similar structures to help amplify the voices and skills within our Tribe. Stay tuned as we build new DAO councils and reward systems.
Making waves in ReFi
Last month we were invited to speak at ReFi Solana Breakpoint in Lisbon. We met the fast growing ReFi community and were proclaimed the largest ReFi project in Solana.
We’re more than ready to keep the Coral Tribe brand growing. Let’s keep it flowing. Stay tuned for more community activities, valuable content and events…
Individually we are drops, together we are the ocean. We shall keep flowing as one.
