A highly scalable, fully decentralized stablecoin
Fei Protocol is a decentralized finance (DeFi) protocol that issues FEI, a highly scalable and fully decentralized algorithmic stablecoin pegged to USD. Unlike collateralized stablecoins, Fei Protocol uses a Protocol Controlled Value (PCV) mechanism — where the protocol itself controls the liquidity — to maintain its peg and ensure stability at scale. The protocol is governed by the Tribe DAO and its TRIBE governance token, enabling community-driven decisions on treasury management, protocol upgrades, and capital allocation.
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