Coral

About Coral

Coral, operating under the name Coral Tribe, functions at the intersection of decentralized finance and environmentalism. The organization utilizes Web3 technologies to channel capital toward projects with a positive ecological impact, placing a strong emphasis on marine and coral reef restoration. The business was co-founded by Christian Chegne, whose background is in digital art and creative direction for fashion brands; Avery Schwartz, who brings a background in conservation; and Jimmy Lane, a social entrepreneur with experience in agricultural technology projects in Africa. Their combined expertise shaped the company's mission to merge technology with nature conservation.

The company's structure is built on two primary components: the Coral Tribe NFT collection and the ReFi Hub platform. The initial funding and community formation began with the launch of the "Crypto Coral Tribe," a collection of 6,565 Non-Fungible Tokens (NFTs) minted on the Solana blockchain in April 2022. Ownership of a Coral Tribe NFT grants membership in the community, providing access to benefits such as voting rights on project funding and a share of financial returns from a central Community Fund. This fund is primarily capitalized by allocating 50% of the royalties from secondary NFT sales. The community also offers its members a utility token, $AQUA, which is earned by staking their NFTs and can be used for receiving rewards from investments.

The second pillar, the ReFi Hub, is a marketplace for sustainable investments that functions as a crowd-lending platform. It connects investors with vetted, eco-friendly businesses seeking capital for projects in areas like renewable energy and biotechnology. This platform tokenizes real-world assets, such as lending agreements, allowing for fractional ownership and peer-to-business investment. Coral's revenue model is diversified. For businesses seeking funding on the ReFi Hub, a one-time structuring fee is charged upon the successful completion of their funding round. For investors, the platform takes a small percentage of the yield generated by their investments, aligning the company's earnings with the success of the funded projects.