Wednesday, 25 August 2021 09:00 AM
Financing
GENEVA, SWITZERLAND / ACCESSWIRE / August 25, 2021 / Retreeb, the new-age decentralized ethical payment solution is all set to host its initial exchange offering (IEO) of its Treeb utility token on ProBit Exchange. Its token sale is expected to go live by 2nd September. Retreeb believes that its IEO will be the next step towards the adoption of decentralized ethical finance practices inter-twined with universal values of ethics, sharing, and solidarity.
What is Retreeb Building?
There is no denying that blockchain has numerous direct implications on the finance sector and the revolution it brings can solve many legacy problems in the industry. The team at Retreeb is building the future of payments to make it ethical, responsible, inclusive, and sustainable. With corporate social and environmental responsibility (CSR) at the heart of their business model, the Retreeb payment solution is a decentralized payment ecosystem free of any interbank commissions.
Retreeb claims to be the first financial institution in the world that has linked its business performance with its social contribution. With its solidarity cashback, the project donates 33% of its fees to financially support social and environmental projects. The first thing which Retreeb has done is to eliminate the dominance of centralized intermediaries that charge users a commission of 2.5-4% per transaction. On the Retreeb marketplace, merchants pay a nominal fee of 0.9% to 1.5%.
Solidarity cashback is Retreeb's CSR contribution. Retreeb voluntarily donates one third of its fees to social or environmental projects selected by the user who makes the transaction. This ethical model of the Retreeb ecosystem makes it one of the most unique financial institutions that actually fulfill its Corporate Social Responsibility (CSR) while simplifying the payment ecosystem in a costumer-centric manner.
Looking Behind Retreeb's Bi-foundational Financial Model
Retreeb is developing a very unique payment solution that is based on two foundational pillars and is powered by a two-asset system, i.e., (S)TREEB (Retreeb's Stablecoin) and (U)TREEB (retreeb's Utility Token). The two foundational pillars of its financial model are - tokenization of transactions and Free SEPA credit transfers.
The Retreeb transaction model is fueled by the integration of Fantom Opera technology which is powered by both Fantom's aBFT consensus algorithm and Proof of Stake. Thus tokenization of transactions is achieved by using a fork of Fantom's "Lachesis DAG" based on the Lachesis Protocol. In simpler terms, the transaction happens by establishing a set of links between events to form a
DAG (a distributed system that stores arbitrary immutable data). Check out more about "Retreeb's architecture" here.
TREEB Utility Token
Retreeb has its own ERC-20 utility token named (u)Treeb or TREEB. It is responsible for the governance of the Retreeb ecosystem and the community. This token holds several significant roles in the Retreeb ecosystem. With its fixed offer and a variable value, these tokens conclude the governance of the platform by choosing which Corporate Social Responsibility (CSR) projects are to be selected for funding.
The Retreeb protocol uses a proof-of-stake mechanism to select validators to participate in these governance decisions. Any user holding TREEB tokens can participate in decision-making by locking their TREEBs in a dedicated smart contract for a certain period of time. The decision-making votes are weighted by the amount of stacked TREEB and the stacking time of the tokens in the smart contract.
The other role of TREEB tokens is their importance in providing users with premium status on the platform. If a user holds more than a certain threshold then they get a premium status, allowing them access to biometric payment cards and free exchange of (s)Treeb (Retreeb's Stablecoin).
Simplifying Finance to Make Payments Simpler Within the last decade, the payment infrastructure has changed rapidly and so has the behavior of consumers. Consumers today are more aware and conscious of their society and environment and they expect the same from the businesses around them.
Retreeb taps on this consumer expectation by introducing a new generation of payment processors. By putting ethics, transparency, and solidarity at the center of the transactional process, Retreeb correlates between its business model, social contribution (CSR), and business performance. For the first time in the history of finance, there exists a model providing a win/win accounting and financial innovation ambition in a win/lose dominated ecosystems.
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SOURCE: retreeb