Fei USD
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FEI to USD converterFEI
USD0
FEIUSDNo chart data available
Market Cap
$0
No data available
Volume (24h)
$0
No data available
Price Performance
No data available
Market Cap
$0Volume(24h)
$0FDV
$0Circulating Supply
0Total Supply
0Max Supply
$0Infinity Supply
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Website
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Tags
DeFi
Stablecoin
About Fei USDFei USD (FEI) is an algorithmic stablecoin that attempted to maintain a $1 valuation without actual fiat (like USDT or USDC) or crypto (like DAI) collateralization, with price dependent on Uniswap's liquidity for the FEI/ETH pair where liquidity providers earn rewards for maintaining the stablecoin's liquidity. After its launch, Fei struggled to maintain its peg to the US dollar, with the coin trading below parity since its $1.2 billion launch accompanied by a bug that resulted in some users struggling to sell their coins, creating furor on social media and Discord. Fei Labs founder released a proposal to redeem existing circulating supply of FEI to DAI after the protocol controlled value model failed to find product market fit, with the team closing the project due to technical, financial and potential future regulatory risks. Fei never held the $1 peg well with penalties for slight deviations from peg being quite massive (approximately 25% when Fei was $0.95), leading to front-running as it collapsed below $0.70 at worst before being replaced with a Frax-like mechanism where users could sell Fei back to protocol for $1 of underlying collateral. Fei represents a failed experiment in algorithmic stablecoins, with the project essentially defunct and serve as a cautionary tale about complexity in protocol design — though some redemption mechanisms remain for remaining token holders.
Assets Details
Access Model
Redeemable
NoAttestations
NoCEX Listed
YesKYC to mint or redeem
NoTransferable
YesSelf Custody
No