Contribute: Bootstrap Successful

TRIB Community
Contribute DeFi
Published in
5 min readSep 21, 2020

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Contribute’s bootstrap phase has now been completed.

We did it!

The GME raised a total of 13,884,845 mUSD at the final average price of 2.93 mUSD.

At the time of writing the contract still holds 4,527,505 mUSD and TRIB’s price is at 3.00 mUSD. This means that 9,357,340 mUSD (67%) of the total value raised was dumped right after the GME and TRIB is still above the average price bought. I would love to see 67% of any coin be dumped on the market right after their launch and hold as well as Contribute did.

We now have 324,781 mUSD forever locked generating interest for the protocol. When the contract was deployed, I secretly hoped for a 100K raise.

Whales are not here to help you, they are here to eat you for lunch.

Believe if or not, one of the best things that could have happened to Contribute was to attract the whales.

  • Early adopters are incentivised to bootstrap liquidity.

The statement above is clearly stated on the website. There is a reason you want early adopters to make money and make their 2x instant profit.

They are the ones bringing liquidity to the protocol.

These crypto ‘whales’, which exist simply to eat you for lunch, also brought you to Contribute. They added massive value to the protocol. Like it or not, the reason we have 324,781 mUSD forever locked in Contribute right now is because of them.

Whales are going to do what they do best, make a quick buck and move to the next thing. They don’t care about you, the protocol or an idea. They care only to satisfy their never ending greed, what we need to do, is learn how to tap into that.

Time can heal all wounds.

Contribute was never meant to be a quick profit making scheme. If you read the whitepaper and took time to understand its mechanics you should not be surprised about how things played out during the GME.

We are at a floor price of 0.80 mUSD. The only way to sell TRIB below this price is on the secondary market. If you do that, you don’t deserve to hold it anyway.

This is the only token that I know of, in which the price floor (the minimum you can sell a token for) can ONLY GO UP. Don’t believe me? Go read the source code and check out the burn address of TRIB tokens, which by the way is the biggest whale in the protocol at the moment. The only whale which is guaranteed not to dump on you.

$TRIB token distribution pie:

$TRIB

What a fair launch looks like.

Look at the picture above. Go on. Do you know who is the second biggest holder of TRIB tokens in that picture? The Genesis address, which currently holds the tokens for anyone that has not yet claimed them.

The third biggest address holds 5.57% of the total supply. Currently that is Contribute’s biggest whale. There are now 2,366 current TRIB token holders, not counting the ones that have not claimed their TRIB yet, and the biggest whale has 5.57% of the supply.

If the biggest whale were to dump all their tokens right now they would move the price by 16 cents.

I dare you to show me a protocol that has had a fairest launch.

So I got my TRIB tokens, now what am I going to do with it?

This project is here to stay. The reason there is no governance to Contribute, is so people can rely on it doing its thing. It is a base layer protocol, it is heavy so it can sink so others can build on top of it if they want.

Will there be added utility to TRIB? One thing I have learned since my days in Crypto is that utility is permissionless. Anyone can add value to their holdings, I am anyone, therefore I could possibly add extra value to TRIB.

Fear, uncertainty, doubt and crypto twitter.

It was truly amazing to see the amount of people shilling TRIB right before the GME ended. The same people that were quick at their keyboard, to dump as soon as they could, for a quick buck.

If anything, Contribute serves as a bullshit detector. You can now go through different Twitter “influencer” accounts and see who says what before and after the GME.

You can also quite quickly learn who just Tweets out of their mouth without putting too much thinking into their words. Sensationalists trying to get you to hit that like and share button. That quick fix for their attention addiction.

I was contacted by some people to defend Contribute on our social channels. My answer was simple. I could not care less about what others think of Contribute. It is here to do one thing and one thing only. If you get it or not is not my problem.

I’m not here to sell you anything. The contract does not need you anymore. You need it.

The future is bright.

First off, I would like to thank everyone that made this possible. Everyone involved with this project have contributed something way more valuable than money. They have contributed their time. Countless hours with zero compensation to make this happen.

From making sure the community was well informed, to responding to the same questions a billion times in our social channels.

I truly humbly thank you! You are the ones who get it. You are the ones who hold the crypto spirit alive.

You see beyond short term gains. With a long time preference, you are able to see what Contribute is really trying to accomplish.

This is not a sprint.

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TRIB Community
Contribute DeFi

Building the ‘Contribute’ DeFi ecosystem together while leveraging its revolutionary layer0 tokenomics. Long-term holders of $TRIB.