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Fei Protocol

TRIBE

  • Stablecoin Protocol
  • DeFi
Established Year
2020
Headquarter
United States
Operating Status
Active
Ecosystem
Ethereum
Fei Protocol is a decentralized stablecoin protocol that aims to improve upon the concept of stablecoins. It implements various innovations, such as Protocol Controlled Value (PCV) as a stability mechanism and numerous other mechanisms to keep the Uniswap liquidity pool and its native stablecoin FEI close to the exchange rate of the US dollar. Additionally, it introduces a native governance token called TRIBE.

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What Is Tribe (TRIBE)?

[Tribe](https://www.coinlive.com/coin/tribe) is the governance token for the [FEI](https://www.coinlive.com/coin/fei-protocol) [algorithmic stablecoin](https://coinmarketcap.com/alexandria/glossary/algorithmic-stablecoin). Fei aims to provide a new decentralized solution to the stablecoin market. Existing stablecoins are either fiat-collateralized and, therefore, centralized or crypto-collateralized, making them capital-inefficient. Other algorithmic stablecoins suffer from no liquidity backing the peg, making them inherently unstable or centralize rewards to seigniorage stakeholders. FEI proposes a model similar in design to fractional reserve central banking, where the protocol issues FEI for a subsidized price against [ETH](https://www.coinlive.com/coin/ethereum) at its genesis event and subsequently uses the incurred Ether as a treasury to maintain the peg. TRIBE is the governance token of the DAO controlling the governance of FEI and can be used in governance proposals or swapped for FEI in a [UniSwapV2](https://coinmarketcap.com/exchanges/uniswap-v2/) [liquidity pool](https://coinmarketcap.com/alexandria/glossary/liquidity-pool).