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Fei Protocol Raised 639,000 ETH From "Genesis Launch", Valued At Nearly $1.27 Billion
Summary: Fei Labs, the team behind the decentralized stablecoin project Fei Protocol, announced that it has ended its "Genesis Launch" and launched a total of 639,000 ETH (approximately $1.27 billion at the current price), minted 1.3 billion FEI. The raised ETH will be used as collateral to mint FEI stablecoin, which uses "Protocol Controlled Value" to ...
Fei Labs, the team behind the decentralized stablecoin project Fei Protocol, announced that it has ended its "Genesis Launch" and launched a total of 639,000 ETH (approximately $1.27 billion at the current price), minted 1.3 billion FEI.
The raised ETH will be used as collateral to mint FEI stablecoin, which uses "Protocol Controlled Value" to balance buying and selling to maintain its $1 USD anchor exchange rate.
The announcement stated that a total of 17,000 unique addresses participated in the launch, and these addresses will receive a corresponding amount of FEI and TRIBE token airdrops.
By raising funds, Fei Labs also provided Uniswap with liquidity, making it the largest pool of funds in the decentralized exchange, with liquidity exceeding $2.6 billion.
By Mary Liu
Tags: ETH,Fei Labs,Fei Protocol,Stablecoin
Link: Fei Protocol Raised 639,000 ETH From "Genesis Launch", Valued At Nearly $1.27 Billion [Copy]
