After experiencing unforeseen technical difficulties during its initial public offering on September 5th, Tribally has unveiled a revised roadmap for the launch of its $TRIBAL token. This updated strategy aims to rectify the problems faced and outline a clear path ahead.
Challenges Faced During the Initial Public Sale
The launch of $TRIBAL’s public sale was marred by several technical issues that hindered its success. Investors encountered sporadic website outages, characterized by ERR_TOO_MANY_REDIRECTS errors, which raised concerns about the safety of their investments. Furthermore, interruptions in the KYC verification process prevented numerous participants from completing their transactions. Users also reported experiencing blank pages upon logging in, adding to their frustrations.
Mobile users specifically faced challenges with accessing the Ronin wallet option, limiting involvement from that community. In light of these technical hurdles, the sale was paused to allow for a comprehensive reevaluation of the launch approach.
Key Insights from the Sale Experience
The hurdles experienced during the sale prompted Tribally to extract important lessons that will influence future tactics. Recognizing the web3 community’s strong focus on privacy, Tribally acknowledged that their existing KYC process was excessively intrusive. Consequently, they are pivoting towards a more privacy-centric methodology.
Additionally, the heavy reliance on speculative interest during the initial sale underscored the necessity for a more transparent value proposition. As a result, Tribally will highlight tangible benefits, including on-chain betting and staking rewards, to provide investors with clearer and more significant value.
Revised Strategy for the $TRIBAL Token
The refined strategy encompasses several critical phases:
- Increase Betting Volume: By evolving from a social platform to an entertainment and betting hub, Tribally aims to tap into the largest sector of web3 gaming. The success of its play-to-earn and staking frameworks relies on boosting $USDC betting volumes. The introduction of $USDC betting later this month, prior to the TGE, seeks to enhance the theoretical floor price of $TRIBAL through staking rewards accumulated from betting activities.
- Demonstrate B2B Demand for $TRIBAL: Tribally intends to conduct seasonal play-to-airdrop (P2A) campaigns, enabling gaming companies to leverage Tribally’s technology at a lower cost. These initiatives will feature various engaging activities, such as leaderboards and challenges, allowing gamers to compete for $TRIBAL, NFTs, and other tokens. Importantly, all fees generated from these campaigns will be utilized to purchase $TRIBAL tokens from the public sale inventory, reducing the available token supply and showcasing real-world demand.
- Yield Distribution: Starting in October 2024, Tribally will implement $TRIBAL staking, enabling users to earn commissions from $USDC betting activities, even before the token’s official launch. This proactive approach will facilitate immediate utility and revenue generation following the TGE.
Future Steps
With these strategic modifications, Tribally aims to proceed with a public token sale once these initial stages yield positive results, followed by the TGE and official listing. The pricing and valuation will be determined just before the sale, reflecting progress and market conditions at that time. Additionally, an exclusive, invite-only private sale this month represents the last opportunity to acquire $TRIBAL before its complete integration into Tribally’s operational framework—a major pricing adjustment is anticipated post-launch.
