AMA August 8, 2023
1. Tribal’s Role and Distinctiveness:
— Q:What distinguishes Tribal from its competitors, and are there plans for its own blockchain?
— A:We’re currently concentrating on the protocol’s launch. Tribal will offer lending pools with built in credit enhancements and automated accountability mechanisms, which are new to the market and will ensure lenders’ funds are safeguarded
2. Tribal’s Ecosystem and Security:
— Q:What are your primary concerns in the Tribal ecosystem regarding security?
— A:Our immediate objective is a robust, secure protocol launch. To ensure security of the protocol we have an ongoing smart contract audit and are releasing our testnet to select protocol participants before launching to mainnet..
3. Strategies to attract participants
— Q:Are there strategies to attract new investors or any upcoming sales?
— A:Our priority is to leverage our existing investors to partner with lenders, borrowers, and the RWA ecosystem as we launch and scale the platform..
4. Challenges and Mitigation for Tribal Project:
— Q:What are the anticipated challenges for Tribal, and how will they be addressed?
— A:The fluctuating DeFi market is our main concern. To counter this, we’re fortifying partnerships with ecosystem contributors.
5. Strategies for Compatibility and Functionality:
— Q:How are you ensuring Tribal’s effectiveness and user-friendliness?
— A:While the protocol is open to all Fintech borrowers who meet our underwriting requirements, we initially designed the protocol to solve for Tribal Credit’s own need to access capital more efficiently. We’ve designed the protocol to be effective and user friendly using that experience and the feedback from lenders and borrowers.
6. Details on Off-chain Collateral Assets:
— Q:Can you detail the off-chain assets and their role in risk reduction?
— A:The off-chain assets are receivables that have expected payments and interest tied to them, which is how lenders earn a return on their deposited principal. The lenders have a legal claim on these receivables, which minimizes risks to lenders.
7. Loan Eligibility:
— Q:Who is eligible for loans via Tribal?
— A:Fintech borrowers that meet our underwriting requirements will be able to use the protocol to take out and manage loans.
8. Criteria Adjustments for Long-Term Participants:
— Q:Can borrowing conditions change for longstanding Tribal Finance clients?
— A:To maintain borrowing privileges, clients must consistently meet repayment obligations.
