Tribe3 is a gamified NFT futures exchange where users can trade NFT perps with leverage, engage in NFT tribe battles against others in the community, and win in-game items to create personalized avatars. The project recently started its beta mainnet on Arbitrum on May 3, officially allowing traders to trade NFT perps with actual ETH. Previously, only a select group of individuals were invited to the beta mainnet, and the project has been on the beta testnet since the start of the year.
Currently, Tribe3 offers the following NFT collections for perps trading:
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BAYC
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MAYC
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Punks
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Azuki
Traders are able to trade with any amount of ETH collateral and take directional bets in long or short positions on supported collections up to 5x leverage.
Following the announcement of its Season 1 airdrop, which incentivizes trading volume and rewards traders who engage in converging trades to bring the perp price back to parity with the Oracle price, Tribe3 has observed an increase in trading volume.
Since its official public beta mainnet launch on May 3, trading activity has surged, with a peak trading volume of $342K recorded on May 9. This is likely attributed to traders capitalizing on the trading incentives offered by Tribe3 in the form of Tribe3 points.
Traders on the platform will earn Tribe3 points for every trade action (open/close position, add/reduce/partially close position) they take and for contributing to the project’s social media or campaign participation.
The team also encourages users to share user-generated content on how points could be calculated and incentivizes these users with extra points or point boosting. Currently, that includes trading volume and convergence trading volume rewards.
For every 1 WETH notional trading volume, traders will be able to earn 10 points, and notional trading volume will be counted for every action of open, add partially close, and fully close position
For every 1 WETH notional convergence trading volume, traders will also earn 10 points. Converging trades refer to trades that close the price gap between the perp and the Oracle price.
At the end of every season, a point multiplier will also be applied based on the trader’s rank.
Do note that traders must have a minimum of 5 WETH notional trading volumes in order to unlock all the points.
