Apr 05 2021

Fei Protocol Launches Its StableCoin Project, Locking Up $1 Billion ETH

published by San Lee
in blog Bitcoinist.com
original entryFei Protocol Launches Its StableCoin Project, Locking Up $1 Billion ETH

altcoins blockchain cryptocurrency defi ethereum fei news

Earlier this Saturday, FEI Protocol held its Genesis event, successfully raising over 639,000 Ether -- approximately $1.3 billion -- in commitment for its stablecoin. The Ethereum raised for the project will be used as collateral to mint its stablecoins, which uses bonding curves to maintain a peg of $1. FEI’s protocol mechanism also allows for direct incentives, which is “more capital efficient, has...