Contribute DAO: A Call for Action!

Introducing the TRIB Ecosystem: Governance and Liquidity Mining

Howdy TRIBe!

Are you ready to learn more about Contribute’s progress?

Then strap in, there is plenty to unpack today.

Below is a brief summary of this detailed update:

1. Quick Intro about Contribute
2. Ongoing Development
3. Introducing TDAO and Governance
4. TDAO Tokens Distribution
5. Locked Liquidity Event
6. TRIG: Contribute’s Virtual Mining Rig
7. TDAO Transfer Fees
8. Voting
9. The TDAO Treasury
10. Summing It Up

1. First, a quick word to our newest members

Following the successful genesis bootstrap in September, during which over 13M mUSD were deposited in the Contribute protocol, the community has witnessed a phenomenal influx of holders coming forward with the intent of offering their skills and ideas towards the project’s growth.

With the official CertiK audit out of the way, TRIB tokens are currently owned by around 2000 unique wallets, near as many people on Telegram and following us on Twitter.

Our Discord counts more than 1000 busy bees, many of whom collaborating on different fronts: from development, design and integrations to marketing, research and administration.

• Contribute was launched with no team fund and a simple word-of-mouth approach, resulting in one of the fairest distribution events to ever hit cryptoland.

In little over a month from its birth, the Contribute smart contract has already accrued and distributed north of 38,000 mUSD in interests to holders willing to sell their TRIB tokens to claim them.

The protocol has also locked around 435,000 mUSD forever, funds which will be generating interests in the mStable ‘Save’ pool, leveraging Aave and Compound lending protocols.

Contribute has quickly established itself as a pioneer in decentralised finance for having introduced the concept of a mathematical Price Floor to its token, achieved through an ingenious use of bonding curve theory and entry/exit fees.

The TRIB Price Floor is the lowest price that the smart contract will pay for the last TRIB in circulation, sitting now at slightly under 1 mUSD.

It is important to remember that with any trade of TRIB tokens via the Contribute smart contract, the price floor will only ever move up.

This includes any TRIB sold to claim the accumulated interests maturing on the platform.

The holders’ pie chart below is showing that the biggest TRIB whale, owning 46% of the supply, is in fact the Burn Address, locking the value Contribute needs for its Price Floor to be tamper-proof.

2. From bootstrap to on-going development

The first phase of Contribute has been to build an autonomous, immutable base layer that anybody can build upon in a permissionless and fully decentralised way.

As a result of endless projects being hyped and later dumped by their very own teams, TRIB was created to be used as a ‘different’ utility token, one embedded with tangible value by design.

Contribute is a movement born out of a simple concept, that a utility token should be backed by working capital from the very start, and not be printed ‘out of thin air’ to enrich only a few ‘insiders’.

When TRIB Price Floor moves up, it does so for every TRIB holder.

Fully backed by mUSD, a basket of leading stablecoins, TRIB is now ready to become the base layer of an entire ecosystem.

3. Introducing Contribute’s Governance Token: $TDAO

At this very moment, as many community members are volunteering their skills and time for the future prosperity of the protocol, we decided to turn Contribute into a true Decentralised Autonomous Organisation (DAO), leveraging TRIB’s base layer tokenomics.

• Holders of TDAO will be the ‘leaders of the TRIBe’.

The Contribute community prides itself for being highly decentralised. The next logical step is to launch a governance layer that respects its vision and ‘soul’.

• In the coming weeks we will officially invite TRIB holders to submit their tokens to our Locked Liquidity Event, and to start mining TDAO while managing its treasury through governance.

“With great power comes great responsibility,” we have all heard that phrase before:

• TDAO holders will receive FULL GOVERNANCE of the ecosystem and its Treasury — aside from the ability to change the immutable Contribute smart contract.
• TDAO will have a fixed supply of 5,000. No more tokens can ever be minted.
• TDAO tokens will NOT be created on a bonding curve.

4. How will TDAO be distributed?

To assign TDAO and its governance rights, Contribute has decided to employ a method called Locked Liquidity Mining, a novel way to distribute tokens to communities.

Contribute believes that it will innovate much further by custom-suiting this strategy to work seamlessly above TRIB’s immutable base layer.

This will greatly empower the ecosystem to rapidly evolve and thrive.

5. The ‘Locked Liquidity Event’ (LLE)

The event will last 7 days during which TRIB holders will be able to deposit their tokens into the TDAO smart contract.

There will be an option for ETH holders to join the event. ETH will be re-routed through the Contribute smart contract to acquire TRIB and participate in a click.

• ALL TRIB tokens deposited will be matched with the total supply of 5,000 TDAO and added to the Uniswap pool TDAO/TRIB.
• 100% of the initial Liquidity will be Locked.
• Just like TRIB itself, TDAO will have a Price Floor. Locked liquidity will guarantee that TDAO can never be sold for less than its initial Uniswap listing price.

TDAO Price Floor = Total TRIB deposited at LLE / 5,000 TDAO

For example, if 2,000,000 TRIB will join the LLE, the Price Floor for TDAO will be 2,000,000 / 5,000 = 400 TRIB

By being paired with TRIB, the price floor of TDAO will also appreciate in dollar-value together with TRIB.

As the price of TDAO grows, so will the funds available in its treasury, governed entirely by TDAO holders.

• The TRIB tokens submitted to the LLE cannot be removed from the TDAO/TRIB Uniswap pool. This is an inherent characteristic of such type of distribution and it is designed to encourage real demand, value creation and utility.
• These TRIB tokens will directly raise the TRIB Price Floor in mUSD value. In fact, they can be considered ‘burned’, as they will become unobtainable — and so unredeemable for their underlying asset.

For example, if 2,000,000 TRIB will join the LLE, the Price Floor for TRIB will be grow by 2 mUSD, as each TRIB token locked or burned causes it to move up by 0,000001 mUSD.

As described: 2,000,000 x 0,000001 mUSD = 2 mUSD

The current Price Floor for TRIB can be found on our website.

6. $TRIG: Contribute’s Virtual Mining Rig

• TDAO/TRIB Liquidity-Pool-Tokens, originating from the LLE described above, will be wrapped in the TRIG smart contract.
• Participants to the LLE will receive their TRIG tokens proportionally to their TRIB contribution during the event.
• TRIG tokens will have a total supply of 1,000.
• No more TRIG will EVER be minted.

TRIG tokens can be traded anywhere and they represent real value in the form of rights, allowing holders to earn a share of the TDAO transfer fees being generated, as described below.

Buyers of TRIG will be able to stake and receive transfer fees in the form of TDAO tokens, which in turn will grant them full governance of the Contribute ecosystem and its treasury.

TRIG is a regular ERC20 token and will have NO fees associated with it.

In short, TRIG tokens give each holder the chance to:

• Collect transfer fees from TDAO tokens being traded;
  (mining)
• Exchange TRIG for value anywhere as an independent token;
  (trading)

while TDAO tokens will offer holders the power to:

• Manage TDAO’s key parameters;
  (fees percentages, fees sharing, no-fee whitelists…)
• Vote on treasury funds deployment;
  (collaborations, development of dapps, marketing…)
• Govern the Contribute ecosystem;
  (proposals, dividends, utility, growth…)

7. Transfer Fees

• Buying TDAO from Uniswap after the end of the LLE is the first way for somebody to begin owning the first tokens.

As TDAO is purchased and traded, transfer fees will be charged and split among TRIG stakers and the TDAO treasury.

A ‘transfer’ means both, selling and also moving TDAO between wallets.

• Initially, TDAO holders will bear token Transfer Fees of 1%.
• There will be NO FEES on purchases of TDAO on Uniswap.

(These parameters are subjected to changes according to TDAO governance proposals. The minimum possible will be 0.1% transfer fees. The max. is 10%.)

The percentage was selected as a starting point to keep in line with Contribute’s ethos of community building and capital coordination. We also believe that it will represent an important long-term incentive for stakers.

Transfer fees will be initially assigned in the following way:

• 50% to TRIG stakers.
• 50% to the TDAO Treasury, which TDAO holders will govern and administer in full.
• There is NO DEV FUND whatsoever! Every single TDAO in the treasury will be managed entirely by TDAO holders.

(These parameters are subjected to changes according to TDAO governance proposals. Fees going to TRIG stakers can never go below the 50% threshold, while TDAO holders can vote to lower the % going to the Treasury to a minimum of 10%, giving the remaining 90% to TRIG stakers. At start, fee distribution will sit in the middle, 50% each, as described above.)

8. Voting

TDAO holders have the right to vote on any proposal that they deem appropriate and beneficial.

Governance will start after 25% of TDAO tokens are in circulation (outside of the TDAO/TRIB Uniswap pool) or 30 days has passed since the end of the LLE event. Whichever comes first.

It will work in this way:

1. Proposals will be informally made available in the Contribute Snapshot page in order to gauge community interest. They can be widely discussed on our social media channels.
2. If the proposers find it valuable to activate an on-chain proposal, they can do so as long as they hold at least 1% of TDAO’s total supply delegated to them, or in their wallet.
3. Votes will require a quorum of 5% and last for 72 hours.
4. Any proposal can be vetoed. If a user owns — or is delegated to — at least 1% of TDAO’s total supply, a proposal to stop the previous proposal can start. This veto needs to win with at least 20% of TDAO’s total supply in its support. In this case, the previous proposal is blocked and will have to be rediscussed. The veto vote will last for 48 hours.

9. A deeper dive into the TDAO Treasury

By the initial rules described above, 50% of TDAO transfer fees will flow to its treasury.

Being the sole governors, TDAO holders will be able to vote on any proposal.

• The treasury’s goal is to foster development for the Contribute Ecosystem according to the powers assigned to TDAO holders.
• TRIB holders will be able to grab their rights to govern by participating in the Locked Liquidity Event described in this article, and then staking their TRIG — and / or by buying TDAO directly on Uniswap.

The community’s plan is that of a TRIB token serving an ecosystem of dapps and services to be accessed through cutting-edge deflationary models.

The opportunity to deploy a self-sustaining treasury through a truly decentralised entity will help snowballing Contribute’s awareness and adoption, while increasing the value of TRIB, TRIG and TDAO.

• TDAO holders will be able to approve any strategy they wish to. Any holder will also be able to submit profitable strategies, ideas, layer-2 applications and much more that will be voted upon.
• The community will initially launch TDAO in its purest form, without any official additional proposal.

As you know, we love thinking and working well ahead of time. Expect more news from us coming soon about ideas and the next steps forward.

The Treasury’s Wallet and Timelock

The smart contract which serves as the TDAO treasury will be fully controlled through on-chain voting.

• Any approval will go through a 3-day waiting period before it gets available for deployment.
• During this time, any malicious proposal that managed to pass, can be vetoed if 5% of TDAO’s total supply will signal their intent to stop the proposal.
• The timelock contract will be the owner of any governable contract and the treasury will be only accessible through the governance contract.

10. Summing It Up

As described more in-depth above, with the launch of TRIG and TDAO, Contribute will be based on the following interacting pillars:

• Layer-0 = TRIB, for the tokenomics.
• Layer-1 = TRIG + TDAO, for distribution, governance and a self-sustaining treasury.
• Layer-2 = Governed by TDAO holders. Focusing on utility across multiple dapps, autonomous strategies, profit-sharing, income flow, investments, new products, branding and organic ecosystem growth.

“Exciting! How do I just get my hands on some TDAO?”

In three simple ways:

1) You can buy it directly from the Uniswap pool TDAO/TRIB right after the end of the Locked Liquidity Event. (LLE)

2) You can contribute your TRIB tokens during the LLE and stake your TRIG to receive a share of TDAO transfer fees.

3) You can buy TRIG from Uniswap, Balancer or other markets, when it becomes available. You can then stake TRIG to receive your share of TDAO transfer fees, granting you governance rights.

The Contribute community is looking forward to the launch of our governance token and invites you all to learn about it and take part to such a unique governance opportunity.

Let’s build a future of prosperity together!

Community members remain available for any question you might have.

Kindly contact us on:

• Discord
• Telegram