Fei Protocol's mission — to create a fully decentralized stablecoin. The project uses a new kind of stablecoin mechanism, called direct incentives.
Contents:
About Fei Protocol
Stablecoins are one of the main products of DeFi. Users want to access decentralized applications without worrying about instability. Fiat-backed stablecoins such as USDC and USDT are centrally controlled. This presents a regulatory risk and a point of failure for applications, wanting to be truly decentralized.
Fei Protocol was born as an attempt to solve all these problems. The idea for the project was inspired by the ancient stone currency - Rai, or Fei, from the Micronesian island of Yap. The developers hope that the FEI stablecoin will demonstrate the same stability, simplicity and ubiquity as its stone counterpart.
Some features:
| 1 | The FEI stablecoin has an unlimited supply that tracks demand. |
| 2 | The FEI is marketed through the linkage sale. This curve approaches the $ 1 anchor. |
| 3 | When new demand for the FEI arises, users can acquire it by buying on the linkage curve. |
The price feature will initially be low to reward early adopters for the FEI purchase. The launch will contain only one ETH-denominated curve. The ETH Binding Curve will have a target FEI Bootstrap Supply volume prior to the $ 1 price fix. Users cannot sell the FEI on the anchor curve. Instead, the protocol stores the incoming ETH as a protocol controlled value (PCV). The Fei Protocol uses PCV to create a liquid secondary market where users can sell FEI back to ETH.
What else should you know?
Developers blog on Medium. Articles and news are available there. There is no WhitePaper document yet. The platform website runs in English.
From social networks, the community leads:
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