Fei protocol is an algorithmic stablecoin for DeFi. The aim of Fei is to propose a technological solution in a sweet spot between rigid overcollateralized traditional stablecoin and unpredictable but centralised existing algorithmic stablecoins.
Fei Protocol runs on two crypto assets: FEI stablecoin and TRIBE governance token.
FEI is based on a novel kind of stablecoin mechanism called direct incentives. It aimed to be more capital efficient, feature a fair distribution and to be fully decentralized. The protocol uses the value it controls to maintain liquid secondary markets.
