By donating 33% of transaction fees to solidarity causes, Retreeb transforms everyday payments into a responsible act. In addition, the startup has chosen to give power to the community through a governance token, the TREEB. Let’s take a look at how this ecosystem works and how you can participate in it.
The TREEB, to contribute to solidarity payment
Making everyday payments more virtuous is the ambition of the Franco-Swiss startup Retreeb. As we have already mentioned in the columns of TCN, this payment solution proposes to transform everyday purchases into acts of solidarity and responsibility, in a totally new way.
In fact, 33% of the transaction fees applied to payments are redistributed to ecological, charitable or social projects. This costs the consumer nothing and yet can have a huge impact on our world.
One of Retreeb’s first collaborations is Unitlife, an initiative of the United Nations (UN). It aims to combat a widespread yet little known disease: chronic malnutrition. The funding was achieved through the sale of a collection of NFTs at auction.
Imbued with the essence of Web3, Retreeb puts the community at the heart of its ecosystem. Through a utility and governance token, the TREEB, holders have a major decision-making role in the operation of this project financing system. Indeed, they are the ones who entirely ensure the selection of the projects financed by Retreeb.
In practice, this happens in two ways. Firstly, in a totally on-chain way, TREEB token holders will vote for fundable projects on a dedicated platform. Still under development, this platform will be called the “Charity Launchpad”. Then, on the app, users will choose to redirect their fees to one or the other of the selected projects.
Rewarding participants with TREEB
A staking mechanism
Besides helping to make our everyday payment system better, what might be the motivations for participating in the Retreeb ecosystem? The startup believes that being a contributor deserves to be rewarded.
In order to participate in the selection process presented above, Retreeb invites TREEB holders to place their tokens in smart contracts. In return, they will receive xTREEB tokens signifying that they have voted for the project of their choice and will receive pre-defined rewards.
A deflationary token
However, it doesn’t stop there. In order to make this mechanism sustainable, Retreeb is preparing two new mechanisms that will be implemented during the year 2023. The main objective of these mechanisms will be to make Retreeb deflationary.
The first will be the development of advertising within the application. Companies that want to reach an audience open to environmental and social causes will be able to communicate through Retreeb. According to the roadmap, 51% of the profits collected will be used to buy and burn Retreeb.
The second is based on currency conversion. For the time being, Retreeb is only present in France and more specifically in Tours, in a test phase. However, the ambition is to expand worldwide which means that the application will cover various currencies. The fees applied to currency exchanges will also be used up to 51% to buy and burn TREEB.
$5.6 Million of $treeb will be burned in the next months
Times have been rough and because we care, we have decided to launch an offensive strategy!
We think you might like it…
More info here https://t.co/EjpFtn7nY9 pic.twitter.com/8sIQ82Jtik
– Retreeb (@retreeb_io) September 23, 2022
By the way, as the previous tweet mentions, Retreeb has already started the burn phases of its TREEB token. Through a series of 15 steps (based on a price progression), the company plans to burn 20 million TREEBs belonging to its treasury, or about $5.6 million according to the process.