Fei USD (FEI)
| Market Cap | $424,596,078 |
|---|---|
| Trading Volume | $1,407,318 |
| Volume / Market Cap | 0.003314 |
| Total Supply | 426,116,733 FEI |
| Max Supply | – |
Fei USD is currently trading at $1.00, after a price change of -0.04% in the last 24 hours.
Ranked as cryptocurrency #76 by capitalization today, FEI market cap is valued at $424,596,078. FEI trading volume reached $1,407,318 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on FEI coin price prediction page.
What is Fei USD?
Fei USD is an ERC-standardized pegged stablecoin that is native to the Fei protocol. Fei protocol aims to sustain a liquid market where ETH/FEI trades are backed by ETH/USD value. The platform uses a stability-enhancing mechanism called direct incentives. Direct incentives are rewards and penalties that keep Fei price to the peg. Fei protocol uses both the direct incentive model and a protocol controlled liquidity to address the issues around the guarantee of liquidity and the collateral support.
There are 424,996,177.79 circulating FEI tokens from an uncapped supply of 426,166,733. Minter and Burner contracts manage the token issuance. The protocol is a dual token ecosystem comprising FEI stablecoin and the governance token TRIBE. TRIBE is used in voting the network upgrade proposals.
The Fei Improvement Proposals are the processes in which a community of TRIBE holders can propose changes in Fei protocol. A user must have more than 2.4 million delegated TRIBE to submit on-chain proposals. Fei Protocol staking enables users to deposit multiple tokens and earn TRIBE. Each staking pool has specific staking rewards.
Joey Santoro, Brianna Montgomery, and Sebastian Delgado are the founders of the Fei protocol. The project was launched in 2021.