Fei Protocol is new kind of stablecoin which uses a mechanism called direct incentives.
- What is Fei Protocol?
FEI uses a new kind of stablecoin mechanism called direct incentives. It is more capital-efficient, has a fair distribution, and is fully decentralized. The protocol uses the value it controls to maintain liquid secondary markets.
The Fei Protocol mission is to be the stable coin of DeFi backed by some of the top minds in the space, including a16z, Nascent, Variant, Coinbase,
- How was Fei Protocol launched?
Launched on March 31, 2021, at 12:01 pm PT, anyone could secure Fei Protocol by committing ETH for FEI at app.fei.money. FEI and TRIBE were released at the end of Genesis on April 3, 2021, at 12:01 pm PT.
- Who is the Team behind Fei Protocol?
Fei Labs is the team that created FEI, a highly scalable, decentralized, and reserve-backed stablecoin that can meet DeFi’s needs without relying on centralized assets for collateral, that unlocks next-generation integration potential.
Joey Santoro – Founder
Sebastian Delgado – Co-Founder
Brianna Montgomery – Co-Founder