What is Fei USD?
Fei is a decentralized, scalable and DeFi-native stablecoin protocol developed by Fei Labs Inc. The essence of the main idea of the project is to improve the principle of stable coins by introducing a number of innovations. The Fei protocol uses a stability mechanism called Protocol Controlled Value (PCV) as well as a host of other mechanisms to keep its native FEI stablecoin near the U.S. dollar exchange rate.
FEI is a stablecoin based on the ERC20 protocol. It is a decentralized stablecoin that uses multiple mechanisms at its core to make asset allocation more efficient and equitable. The goal of the Fei protocol is to form a highly liquid market where FEI/ETH can be traded at a level close to the ETH/USD pair.