Tellor Tributes

Tellor Tributes (TRB) is the official token of the Tellor project, a decentralised oracle on the Ethereum network. The Tribute, TRB's mined token, plays a critical role in the Tellor ecosystem. It serves multiple purposes, including incentivising validators, securing data points, and managing governance within the system. Notably, the Tribute is designed to increase in supply over time, necessitating a carefully managed issuance rate to balance factors like inflation, utility, and price management​​.

The primary uses of TRB include incentivizing miners via base rewards and acting as a staking deposit for miners. TRB is also used for paying dispute fees within the system. Moreover, ownership of the Tellor token is essential in the dispute resolution process, as it serves as the basis for calculating votes. The overarching goals of TRB in the Tellor system are threefold: to ensure system security, to foster a robust and active Tellor ecosystem and community, and to establish a sustainable system for the future. These goals are achieved by ensuring a diverse and distributed ownership of TRB tokens, miners, and users, contributing to a decentralized and secure system​​​​.

Tellor was launched in 2019 in the United States by Brenda Loya, Nick Fett, and Michael Zemrose. Prior to founding Tellor, these key team members worked together on a project called Daxia, which also focused on blockchain technology. Brenda Loya, currently the CEO and co-founder of Tellor, previously held the position of VP and Lead Developer at Daxia. Nick Fett, the co-founder and CTO of Tellor, was the founder of Daxia and has experience in economics, regulation, and derivatives, including a tenure with the U.S. Commodities Futures Trading Commission. Michael Zemrose, co-founder and CSO of Tellor, formerly led Business Development at Daxia and has a background in entrepreneurship, specializing in media and consulting for various cryptocurrency projects​​.