28 Oct What is Retreeb (TREEB)?
Central to the flow of finance, the payment industry is estimated to be worth billions of dollars. New actors launch themselves every year to take their share of an increasingly large market but Retreeb tries to do this with a difference.
It strives to rethink payments to make this activity at the heart of economic exchanges, and has developed the first payment method that captures the value produced by the money in circulation (transaction fees) to redistribute some of the surpluses more efficiently and assign it to the funding of social and environmental projects.
Founded in 2019, Retreeb presents a new means of payment, allowing for compliance with universal values such as ethics and sharing. Having such a business model, the technical infrastructure which mandates the redistribution of transaction fees, and the monitoring of projects, is part of Retreeb’s endeavours to provide a high level of transparency.
Retreeb seeks to reduce the carbon footprint to a strict minimum, and puts corporate, social and environmental responsibility at the heart of the project’s ambitions.
How Retreeb Works
The Retreeb payment protocol uses a Directed acyclic graph (DAG) data structure. Thanks to the Lachesis aBFT consensus mechanism developed by Fantom Foundation, this technology has the advantage of securing transactions using cryptographic processes while freeing itself from miners and nodes usually responsible for the calculation.
Validations of transactions within the distributed ledger are done directly from user terminals, and only the keys of the retailer nodes can accept token transactions. These are the network validator nodes. None of these transactions can be carried out in Peer-to-Peer (P2P) between users. All validator nodes (retailers) are first validated after a Know Your Business (KYB) control. All user nodes are identified in KYC. As the transactions validate each other, it is impossible to falsify the flows. Trusted witness nodes have read access to the entire chain.
The Retreeb protocol sets and executes social smart contacts (SSC), which ensures the redistribution of the balance of the transaction between the retailers (balance), Retreeb (fee) and the Social Smart Contacts (CSR) project (CSR Fee).
In parallel, the protocol can also provide the circulation of the fiat financial flow by transfers. At the same time, it ensures that retailers’ and consumers’ IBANs comply with their corporate name or identity, that they contain a bank code that complies with the registration currency zone and that they are not on any blacklist.
Why is Retreeb Unique
Retreeb is one of the first financial institutions that links its business performance to its social contribution. It maintains a commitment to its users to pay 33% of the transaction fees collected by Retreeb to fund social and environmental projects.
Retreeb users, in turn, also play a significant role in project development. First, using the service, they create value by supplying the circulation of the monetary flow. Then each user can choose to direct the Retreeb funding to the projects that are most popular among the communityt. Finally, the holders of the Retreeb utility token decide via a decentralised system of governance what projects are eligible to be funded.
What is the Retreeb Ecosystem
- The (u)TREEB or TREEB is a governance utility token for the Retreeb community launched in September 2021.
- (s)TREEB — is a single-currency stablecoin, collateralised on user’s currency and backed by a reserve of value strictly equal to its supply. It replaces the currency during the transaction time between the user and the retailer. The Retreeb stablecoin is issued upon a user’s fiat deposit and is assigned to him on his wallet until his next transaction at a merchant. The merchant stacks the (s)TREEB for a maximum duration of 72 hours before they are burnt, and the corresponding fiat balance (EUR/GBP/CHF, etc.) is sent to the merchant by bank transfer to his bank account minus the Retreeb commission.
- The POS wallet retailer is a mobile application dedicated to retailers and associations. Retailers pay transaction fees the same way as a conventional credit card payment. The POS retailer wallet allows you to carry out all collection operations, consult the history of transactions, make refunds, set up your business information, manage your accounting exports and manually withdraw the balance into fiat money at any time.
- The Wallet Consumer is a mobile application dedicated to consumers. This wallet is the unique way to acquire (s)Treeb in the user’s local coin. There, it can be purchased as a quick deposit by credit card, bearing the associated fees, or as a free deposit by bank transfer. Moreover, the Wallet Consumer allows users to make payments via a QR code from POS retailer wallets, consult the history of their transactions, earn badges, order and configure their Cards and more.
- Card (Under Development). Although first designed to be mobile, the Retreeb ecosystem will integrate a physical payment card to meet the requirements of European markets still very attached to the payment card and acceptance networks.
What is Retreeb (TREEB) Token
The (u)Treeb or TREEB is a governance utility token for the Retreeb community. TREEB has a fixed offer and a variable value and has several roles within the Retreeb ecosystem. The first one concerns governance in choosing which projects are selected for funding. The system uses a Proof-of-Stake (PoS) mechanism to select validators to participate in these governance decisions. Any TREEB holder can participate in decision-making by locking their TREEB tokens in a dedicated smart contract for a certain period. Votes are weighted by the amount of stacked TREEB in the smart contract and the stacking time.
Another benefit of holding tokens is the achievement of premium status within the Retreeb ecosystem. This premium status allows users to benefit from a free biometric payment card, free exchange fees between local (s)TREEB, or more advantageous farming conditions. Farming is precisely one of the aspects of (u)TREEB. (u)TREEB holders will get the chance to earn (u)TREEB or (s)TREEB rewards directly to their wallet or the project they support.
- Mainnet CELL live
- Launch the beta testing program
- Major player partnership
- Staking program extend
- Launch services on the first LUC (Local Use Case)
- Network rewards distribution
- Expanding global marketing
- Expanding Retreeb business alliance
- Start dev CSR launchpad
- Launch biometric Retreeb card
- Launch CSR launchpad
- Expanding Retreeb major business
The Retreeb team started with four people in 2019. Today it consists of more than 20 people, including engineers, researchers, designers and entrepreneurs who share the same vision. The Retreeb team is dedicated to building the payment infrastructure for a more sustainable and fair future and led by four co-founders: Jérémi Lepetit (Co-founder & CEO), Sayah El Yatim (Co-founder), Quentin Lepetit (Co-founder & CDO) and Stéphanie Flacher (Co-founder).
Institutional & Tech Partners:
- Station F
- Finance Innovation
- La French Tech
- Entrepreneurs D’avenir
- Sustainable Finance Geneva
- Arthur Leclerc
- Cross The Ages
How to buy TREEB on Bitfinex
How to buy TREEB with crypto
2. Go to the Deposit page.
3. In the Cryptocurrencies section, choose the crypto you plan to buy TREEB with and generate a deposit address on the Exchange wallet.
4. Send the crypto to the generated deposit address.
5. Once the funds arrive in your wallet, you can trade them for TREEB. Learn how to trade on Bitfinex here.
How to buy TREEB with fiat
2. You need to get full verification to be able to deposit fiat to your Bitfinex account. Learn about different verification levels here.
4. Check your Bitfinex registered email for the wire details.
5. Send the funds.
6. Once the funds arrive in your wallet, you can use them to buy TREEB.
Also, we have Bitfinex on mobile, so you can easily buy TREEB currency while on-the-go.