Fei Protocol struggles with a bug as holders are mostly unable to sell the token
Wednesday’s crypto market correction put a heavy burden on the FEI project, the latest attempt at creating an algorithmic stablecoin that would remain stable in the face of market turbulence. Due to the particular mechanics of the protocol, the FEI token became impossible to sell as its main liquidity pool quotes a negative price for […]
Fei Protocol genesis locks up $1 billion in ETH, but LPs could face losses
The launch of Ethereum-backed stablecoin called Fei has locked up almost a billion dollars’ worth of ETH during its genesis event. But the launch hasn’t gone entirely as planned for some of its liquidity providers. The protocol, which launched a genesis event on April 1, introduced a stablecoin that is partially backed by Ethereum and […]