Fei USD
FEI Rank #1955Price chart
What is Fei USD?
Overview
FEI is a reserve-backed stablecoin created to serve decentralized finance without depending on centralized assets for collateral. The token operates on Ethereum and aims to provide capital-efficient stability through a novel mechanism called protocol controlled value. It is used as a medium of exchange and store of value within DeFi ecosystems.
How it works
FEI deploys protocol controlled value to maintain liquid secondary markets and ensure stability. The protocol manages the assets it holds to support the stablecoin's function. Fei v2 introduced 1:1 redeemability and algorithmic management of protocol reserves.
Peg and backing
The token maintains a $1 USD peg through its protocol controlled value mechanism, which differs from traditional over-collateralized designs. FEI v2 added TRIBE buybacks and a reserve backstop to support the peg. The stablecoin is backed by assets held within the protocol rather than external collateral.
Supply
Total supply is approximately 3.98 million FEI with no stated maximum supply cap. The circulating supply changes over time based on protocol operations and redemption activity.
Where to trade FEI
Exchanges that list this asset
Live spot quotes from connected exchanges
FEI funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.