Accept Fei USD Payments

The Fei protocol represents a native DeFi algorithmic stablecoin, aiming to strike a balance between overly collateralized decentralized stablecoins and centralized custodial ones.

Operating on two key crypto assets—FEI stablecoin and TRIBE governance token—Fei Protocol endeavors to establish a more capital-efficient and entirely decentralized stablecoin. Leveraging its controlled value, the protocol maintains liquid secondary markets and generates yield.

Founded in December 2020, the project swiftly garnered substantial interest within the crypto community, securing a $19 million VC investment in early March 2021 from prominent names like Andreessen Horowitz (a16z), Coinbase Ventures, Nascent, and Framework Ventures.

Initially encountering peg-related issues, the protocol underwent a series of governance upgrades, gradually resolving these concerns post-launch.

Fei v2 marks a pivotal system upgrade slated for late 2021. It introduces 1:1 redeemability for FEI against protocol reserves, TRIBE buybacks and backstop, and algorithmic value management under the protocol's control.