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Fei USD
FEI

About Fei USD

The Fei Protocol aims to keep the ETH/FEI trading price close to the ETH/USD price by using direct incentives. This involves adjusting rewards for minting and penalties for burning based on DEX trading volume to stabilize the peg, initially using Uniswap. The protocol's governance can adjust DEX integrations and incentives as needed. FEI is created through a buy-only bonding curve using ETH, which is termed Protocol Controlled Value (PCV) – value completely owned and controlled by the protocol. The PCV is used as liquidity for the Uniswap ETH/FEI pair, creating a liquidity-collateralized model. The bonding curve price nears a fixed peg as supply increases, leading to arbitrage opportunities if the Uniswap price exceeds the peg. The protocol uses its PCV liquidity to support the Uniswap pri...

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