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 hands for $0.76 per unit but the price sunk lower than current exchange rates. Coingecko data shows a single FEI dropped to a market price low of $0.73 per token on April 7, 2021.
1 FEI = $0.136, @rleshner is down 80% from his bullish buying price. I think one takeaway is big names mean nothing. pic.twitter.com/xGiwKqUUON
— banteg (@bantg) April 7, 2021
However, the Fei protocol’s bid hit $0.136 and crypto
Źródło: https://news.bitcoin.com/billion-dollar-stablecoin-project-fei-protocol-falls-below-usd-peg/
