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Fei Protocol is the platform behind the FEI stablecoin, which was developed for the decentralised finance (DeFi) sector. Built on the Ethereum blockchain, the project aims to bridge the gap between stablecoins that use overcollateralisation and those that apply algorithmic methods. According to the Fei Protocol documentation, the platform wishes to achieve this while remaining decentralised and capital efficient.
The FEI stablecoin is designed to maintain a 1:1 peg with the US dollar. The Fei Protocol manages this stability by offering direct incentives to maintain the peg. The protocol applies a penalty when users sell below $1 and pays a reward when users buy FEI below $1. It has a number of prominent backers such as Coinbase Ventures, MAScent Ventures, Framework Ventures and Buckley Ventures.
Fei USD (FEI) is the 105th largest cryptocurrency in the world by market cap, valued at $539,865,346. The current price of Fei USD is $1.42284, which is -0.074% lower than yesterday. Prices have ranged between $1.42852 and $1.4154347 over the past 24 hours. All prices are listed in Australian dollars (unless otherwise noted) and accurate as of May 19, 2022 06:05 UTC.
| Coin symbol | FEI |
|---|---|
| Coin Marketcap | AUD$539,865,346 |
| Total FEI supply | 539,095,408 |
| Circulating FEI | 538,740,488 |
| Current price | AUD$1.42284 |
| All time high | AUD$2.2436 |
| All time high date | May 19, 2021 |
| Notable team members | Joey Santoro, Brianna Montgomery, Sebastian Delgado |
| Industry | Decentralised finance |
| Token uses | Stablecoin |
| Network | Ethereum |
Historical prices compared with the price of $1.42284.
| 1 hour | -0.06% |
|---|---|
| 24 hours | -0.07% |
| 7 days | 0.96% |
| 14 days | 0.38% |
| 30 days | 0.17% |
|---|---|
| 60 days | 0.29% |
| 200 days | -0.24% |
| 1 year | 3.79% |
Disclaimer: Cryptocurrencies, including Fei USD, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of FEI is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Fei USD or any other cryptocurrency discussed.
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