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Today I want to share why I am so excited about the @feiprotocol
I believe Ethereum levels up every time we discover a new mechanism
@Joey__Santoro has been working on something called Protocol Controlled Value
I want to dive into this and why I think it is so important
I believe Ethereum levels up every time we discover a new mechanism
@Joey__Santoro has been working on something called Protocol Controlled Value
I want to dive into this and why I think it is so important
With other protocols, users deposit their assets in a contract and then manage their exposure to the volatility of the assets
These protocols custody the collateral in their smart contracts, but the user is the one in control
Protocol Controlled Value (PCV) is totally different
These protocols custody the collateral in their smart contracts, but the user is the one in control
Protocol Controlled Value (PCV) is totally different
The @feiprotocol is issuing a stablecoin on a bonding curve in return for Ether
It uses the capital it raises autonomously to manage and maintain the peg
Individuals can buy and sell the stablecoin, $FEI, to get their collateral back
This is a much simpler way of doing things
It uses the capital it raises autonomously to manage and maintain the peg
Individuals can buy and sell the stablecoin, $FEI, to get their collateral back
This is a much simpler way of doing things
The other aspect to the protocol that excites me is the way the system maintains the peg with automated mechanisms instead of human-controlled interest rates
When $FEI trades above or below the peg, there are different sets of direct incentives to get it back towards $1.00
When $FEI trades above or below the peg, there are different sets of direct incentives to get it back towards $1.00
I have had the pleasure of seeing lots of different founders get started in the DeFi space
I really admire @Joey__Santoro’s focus
If you are keen to learn more about the project, the team just published a post explaining the protocol in more detail: https://medium.com/fei-protocol/introducing-fei-protocol-2db79bd7a82b
I really admire @Joey__Santoro’s focus
If you are keen to learn more about the project, the team just published a post explaining the protocol in more detail: https://medium.com/fei-protocol/introducing-fei-protocol-2db79bd7a82b
You might be asking the question: “Why do we need another stablecoin and how is $FEI different?“
Stablecoins are the underpinning of the entire DeFi ecosystem
If we want truly *decentralized finance*, we need fully decentralized stablecoins that cannot be censored
Compare
Stablecoins are the underpinning of the entire DeFi ecosystem
If we want truly *decentralized finance*, we need fully decentralized stablecoins that cannot be censored
Compare
You next question might be: ”How can I get involved?”
The protocol is currently under audit but the aim is to launch the public Genesis Group in Q1
The system will be governed by $TRIBE, which will be available to all
You can join the Fei Discord here: https://discord.gg/NckhXYQtQr
The protocol is currently under audit but the aim is to launch the public Genesis Group in Q1
The system will be governed by $TRIBE, which will be available to all
You can join the Fei Discord here: https://discord.gg/NckhXYQtQr
It has been super fun to work on the v0.1 of this project on everything from branding to dapp design
Working with @sdalcega on the first website has been a lot of fun
We will now be working on the dapps for the Genesis Group and protocol management
http://fei.money
Working with @sdalcega on the first website has been a lot of fun
We will now be working on the dapps for the Genesis Group and protocol management
http://fei.money
The memes are already incredible 
I want to highlight one thing about the $TRIBE genesis group
The community is getting 5x the amount the investors get and they have instant liquidity
Investors vest over 4 years
The seed investment is being used to fund the audit and launch
I want to highlight one thing about the $TRIBE genesis group
The community is getting 5x the amount the investors get and they have instant liquidity
Investors vest over 4 years
The seed investment is being used to fund the audit and launch
I am now getting mercilessly roasted in the @feiprotocol discord for shilling this wonderful project 
Seriously though, I try to find the most interesting things I can on Ethereum and help out as much as possible
Not here for any of that pump and dumpamental stuff
Seriously though, I try to find the most interesting things I can on Ethereum and help out as much as possible
Not here for any of that pump and dumpamental stuff
What I find so interesting about this project is the way it is recombining other popular Ethereum mechanisms into a new approach
We have @ashwinrz to thank for getting Joey interested in crypto and collaborating with him on the designs
These projects are always a team effort
https://twitter.com/ashwinrz/status/1348744189878538240
We have @ashwinrz to thank for getting Joey interested in crypto and collaborating with him on the designs
These projects are always a team effort
https://twitter.com/ashwinrz/status/1348744189878538240
I want to make one thing clear:
$FEI is *not* another algorithmic ponzi rollercoaster that cannot hold a peg
It is a thoughtfully designed new system which aims to be under-collateralised and hold the peg through mechanisms instead of governance
It is liquidity-backed https://twitter.com/degenspartan/status/1348859729401974785
$FEI is *not* another algorithmic ponzi rollercoaster that cannot hold a peg
It is a thoughtfully designed new system which aims to be under-collateralised and hold the peg through mechanisms instead of governance
It is liquidity-backed https://twitter.com/degenspartan/status/1348859729401974785
