Tellor Tributes (TRB) is the native token of the Tellor Oracle Protocol. It is a decentralised, Ethereum-based ERC-20 token designed to provide reliable data feeds to blockchain-based applications. TRB is used primarily for incentivising data reporting, dispute resolution, and network governance.
Tellor Tributes operates on the Tellor Oracle Protocol by leveraging a decentralised network of data reporters. These reporters submit off-chain data in response to data requests initiated by users. The submitted data is verified and stored on-chain, ensuring immutability and security. TRB tokens are used as incentives for data reporting and for participating in dispute resolution and governance processes. The system also includes a Proof of Work (PoW) mining process with staking requirements to secure the network.
Tellor Tributes can be utilised across various sectors and applications, including:
These use cases extend to industries such as financial services, insurance, supply chain management, and gaming.
Tellor was founded in 2019 by Brenda Loya, Nicholas Fett, and Michael Zemrose, aiming to solve the oracle problem encountered in their previous project, Daxia. The project raised funds from notable investors like Binance Labs and developed a decentralised oracle system providing secure and reliable data feeds. The technology has evolved to utilise a PoW mining process with staking to secure the network. This evolution has expanded its integration with various blockchain platforms and partnerships with leading DeFi projects.