Q4 Roadmap Announcement
Update on $TRIBAL TGE plans and the path to get there
Reflecting on last week
The past few days have been tough, but I'm so proud of how strong, calm and resilient my team have been in response. Every company has their challenges and it’s how they react that really shows you what they’re made of.
After an incredible 3-month launch campaign, our public sale on 5th September was plagued by technical issues which were outside of our control. Over 2,000 investors who signed up to the launchpad in the first few hours were unable to complete an investment and we had no choice but to cancel and replan.
Despite the issues we faced, our launchpad partners were very quick to engage and support us through the remediation process, for which I am grateful. Big thanks also to Psycheout who helped us to work through the situation.
We have taken some time to review everything that happened, speak with partners and advisors, consider our options and ultimately create a new roadmap for launching $TRIBAL. More details below…
So what went wrong?
Launchpad website timeouts - many investors reported intermittent browser timeouts with ERR_TOO_MANY_REDIRECTS and couldn’t hit the site to complete their investment. Some even experienced this during the investment process, and contacted us to ask if their funds were safe. We were able to reproduce this issue ourselves before and during the sale.
KYC service outages - many trusted partners, family members and community members told us they were unable invest because the KYC service was hanging and not allowing them to proceed.
Empty landing page - many users could not find our sale because after logging into the launchpad, they were shown a blank page. We recreated this ourselves, it is a facepalm of a UX issue.
No Ronin wallet support on mobile - when trying to connect to the launchpad on mobile, the default Ronin wallet option was not visible. Many investors from the Ronin community were unable to connect their Ronin wallet at all.
What lessons are Tribally taking away?
Privacy is important - Web3 investors are vehemently defensive of their privacy. We went with the default KYC process on our launchpad and it was too invasive - in hindsight we should have recognised this and found an alternative, compliant solution.
Show don’t tell - with just a few weeks until we launch plug-and-play $USDC betting into any game, selling the token now - on the basis of speculation - seems daft. Once we launch onchain betting and the $TRIBAL staking reward pot starts filling up with $USDC in proportion with betting volume, we’ll have moved the conversation away from speculation and towards tangible yield.
$TRIBAL Launch Plan 2.0
The key considerations that went into our planning process were:
Ensure zero disruption to product roadmap
Repeating the same format of public sale is not a viable option
No fixed date or price for TGE - be more reactive to the market
Create defensiveness around a delayed market upturn
As length of time before TGE increases, $USDC staking rewards pot increases
As length of time before TGE increases, supply available to public reduces
Stage 1 - Generate the betting volume
With Tribally pivoting away from a social platform for gaming, and towards an entertainment and betting platform for gaming, we now have the single biggest TAM of any company in the entire web3 gaming space.
The success of both our play-to-earn model and our $TRIBAL staking model depend on driving $USDC betting volumes on our platform. We will launch $USDC betting later this month, and before TGE, allowing us to launch $TRIBAL with some betting volume already in place.
This means that before TGE, the theoretical floor price of $TRIBAL should start to rise due to increased staking yield.
Stage 2 - Show real B2B demand and utility for $TRIBAL
I hinted at this on X a few weeks ago, and now I’m pleased to say it’s happening! Tribally will soon be hosting seasonal play-to-airdrop campaigns, allowing games to leverage our platform and technology to promote themselves, at a fraction of the cost it would take to build and operate a play-to-airdrop system themselves.
Gamers will be competing for $TRIBAL, gaming NFTs and other gaming tokens through the P2A leaderboard, challenges, betting, quests and bounties.
100% of campaign fees will be spent on buying $TRIBAL from our public sale pot to fund the P2A campaign rewards.
This will prove real-world B2B demand and utility for $TRIBAL and result in a decrease of the number of $TRIBAL tokens available to buy at public sale.
Stage 3 - Distribute the yield
We’ll be launching $TRIBAL staking in October, which allows access to commissions generated from $USDC betting on Tribally. But $TRIBAL won’t be live yet. That’s right, we’re going to launch a feature you can’t use yet.
We’re not trying to troll anyone, but it’s important that we leave absolutely zero doubt in people’s minds at what a no-brainer investment $TRIBAL is, by the time we launch the token.
This means that from the moment TGE happens, people will be able to stake $TRIBAL and earn $USDC yield.
Grand Finale - Launch $TRIBAL into market hype
With steps 1 to 3 in place, and once we are seeing a steady growth in betting volumes, we will conduct a public token sale, with TGE and listing following immediately after.
The public sale price/valuation will be determined shortly before the sale, based upon the progress made through the previous 3 steps.
We are running a small private token sale this month, which will be invite-only. This will be the last opportunity to purchase $TRIBAL before betting goes live, which we expect to be a significant repricing event.
Final thoughts
Tribally were made for moments like this. We relish a challenge, and we rise to it.
We have been facing challenges like this for 3 years and we are battle-hardened:
When we launched Axie Tech in 2021, Sky Mavis IP-blocked us from the data APIs because of the huge traffic spikes (before we were an official partner). With the community’s help, we created enough noise to get the IP block removed.
Within a day of launching Tribally in 2023, with Axie Classic as a key launch game, the developers took down the API for 6 months. We acted quickly and integrated Mighty Action Heroes within just a few days.
In August 2024 we launched PvP Challenges, and our launch partner released a new game update that day which inadvertently prevented users from playing PvP. We acted decisively to integrate another game and just 7 days later we had over 20,000 PvP challenges played, driving 1.2 million bets.
None of those challenges stopped us then, and this challenge won’t stop us now. I have no doubt that our new approach is the best possible path for our supporters, investors and token holders to succeed and prosper with us.
Thank You 🧡
Our community has been amazing - the incredible support you’ve shown us throughout this past week has helped us keep fighting through the tough times and the lack of sleep. There are honestly no words that could do justice to my gratitude.
So we won’t use words. We’ll do what we do best and we will build the best product, platform and token the web3 space has ever seen. That will be our thank you.
We rise together. We are $TRIBAL.
