Fei USD (FEI)

Last updated 26/09/2022

What is Fei USD (FEI)?

A native algorithmic stablecoin for DeFi is called Fei protocol. Fei's goal is to put forward a technological solution that finds a middle ground between rigid overcollateralized decentralized stablecoins and centrally controlled custodial stablecoins.

The objective of the Fei Protocol is to create the decentralized, $1-pegged stablecoin FEI. FEI stablecoin and TRIBE governance token are the two cryptocurrencies that power the Fei Protocol.

The Fei Protocol is a decentralized ERC-20 stablecoin initiative that was first introduced in December 2020. By employing protocol-owned equity to support the algorithmic incentives it had developed to manage a stablecoin peg, the team invented Protocol Controlled Value (PCV). There is no chance of a liquidation event or death spiral because PCV is not debt or seigniorage. The PCV's assets' dependability and volatility in relation to its outstanding liabilities in stablecoins constitute the risk. Decentralized assets make up the Fei Protocol PCV, which is presently in use to offer liquidity and generate yield. The "collateral ratio," which compares the supply of circulating FEI to PCV, is a crucial indicator for assessing the plausibility of the peg.

The peg in the original process had some problems, however the protocol rebounded in the months after introduction thanks to a number of governance changes.

Fei is a stablecoin, and like all stablecoins, it has an unlimited total supply. It will be produced or destroyed in response to demand.

Team

Sebastian Delgado, Brianna Montgomery, and Joey Santoro founded Fei Protocol.

Joey Santoro is the CEO of Fei Labs – his experience is in crypto and software engineering. He worked as a software developer at Okta Inc. before joining Fei, a startup that makes software to assist enterprises manage digital identities.

The business lead for the project is Brianna Montgomery. She was a business lead at ConsenSys, a blockchain company, where she built products on Ethereum, before joining the Fei team.

The third co-founder of Fei Protocol is Sebastian Delgado. His background includes working as a software developer for more than two years at Uber and even longer at a DeFi initiative called Dharma Labs.

Roadmap

Over the current stablecoin methods, which may be divided into three categories: fiat collateralized, crypto-collateralized, and non-collateralized, Fei's direct incentive approach offers a promising advance.

April 1, 2022 - Rari White-Hate Security Upgrade
April 26, 2022 - Lock 100% of PCV BAL in veBAL for 1 year and Direct Rewards to the FEI/wETH Pool
April 27, 2022 - VOLT being added to the Tribe
May 14, 2022 - Rari Hack Post-Mortem
May 15, 2022 - Fei Savings Rate for VOLT
May 22, 2022 - Reinforce the PCV
June 10, 2022 - End TRIBE Incentives
June 11, 2022 - Jai Departs
June 13, 2022 - End Departed Rari Founders Vesting of TRIBE
June 19, 2022 - Increase FEI Stable Backing to 90–100%
June 27, 2022 - Collateralization and Operations Update

Where to Store Fei USD (FEI)

Trust Wallet is a wallet that can hold a wide variety of cryptocurrencies such as Fei USD (FEI) making it highly desirable for users who wish to have a varied portfolio.

Similarly, a user-friendly option to keep your $FEI secure can include MetaMask, a leading browser wallet extension popular amongst DeFi platforms and highly praised by developers. Users can integrate with the network’s Liquidity Mining pools by connecting your MetaMask wallet.

Another option to store Fei USD tokens is Guarda wallet. Guarda Wallet is a multi-crypto wallet available as a Web Wallet, Desktop, Mobile and Chrome Extension.

Where to Buy and Sell Fei USD (FEI)

You can Buy & Sell Fei USD (FEI) by heading over to the Buy Coins page of our website. Fei USD (FEI) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Fei USD (FEI) has never been easier, simply place your order and provide your wallet address. Once your payment arrives Fei USD (FEI) will be sent directly to your wallet.

If you choose to Sell Fei USD (FEI) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on the ‘Sell Coins’ page.

Fei USD (FEI) Resources

Website: https://fei.money/

Block Explorer: https://etherscan.io/token/

Github: https://github.com/fei-protocol/fei-protocol-core

Twitter: https://twitter.com/feiprotocol

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.