VC Backed Billion-Dollar Stablecoin Project Fei Protocol Falls Below the USD Peg

VC Backed Billion-Dollar Stablecoin Project Fei Protocol Falls Below the USD Peg

The new decentralized finance (defi) stablecoin project called Fei had some issues this week after the 1:1 USD pegged token dropped well below its targeted $1 value. The Fei project was supposed to be similar to Maker DAO’s algorithmic DAI stablecoin and it was backed by major venture capital firms. Fei Protocol Market Price Drops to $0.73 and the Stablecoin Fei’s Bid Slides to $0.136 On social media and forums, crypto advocates have been discussing the defi project called Fei after it lost its peg with the U.S. dollar this week. Currently, a single fei (FEI) is exchanging....


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