Fei Protocol represents a direct incentive stablecoin which is undercollateralized and fully decentralized.

The goal of the Fei Protocol is to maintain a liquid market in which ETH/FEI trades closely to the ETH/USD price. FEI achieves this via a new stability mechanism known as direct incentives. Direct incentive stablecoins use dynamic mint rewards and burn penalties on DEX trade volume to maintain the peg. FEI uses Uniswap as its incentivized DEX at launch. Governance can add and update DEX integrations and other incentives as needed.

Click to see more

Coin’s Details

  • Market Capitalization

    $1.8 B

  • Volume 24H

    $94.7 M

  • Circulating supply

    2 035 655 523

  • Total supply

    2 041 433 483

  • First announced