FEI was a USD-pegged stablecoin designed around protocol-controlled value and direct incentives rather than conventional fiat reserves. After governance unwind activity in 2022, the product became a post-mortem stablecoin with redemption mechanics centered on a FEI-DAI wrapper rather than active issuance growth.
| Symbol | FEI |
| Peg | USD |
| Backing | Algorithmic |
| Status | Active |
| Launched | 2021 |
| Networks | L1 EVM Ethereum |
| Use cases | DeFi collateral, Settlement |
| Chain | Supply |
|---|---|
| Ethereum | $4M |
| Chain | Address |
|---|---|
| Ethereum | 0x956f47f50a910163d8bf957cf5846d573e7f87ca |
FEI was a USD-pegged stablecoin designed around protocol-controlled value and direct incentives rather than conventional fiat reserves. After governance unwind activity in 2022, the product became a post-mortem stablecoin with redemption mechanics centered on a FEI-DAI wrapper rather than active issuance growth.
Protocol-controlled value originally accumulated through ETH bonding-curve sales and other protocol-owned assets; DAI liquidity in the post-shutdown SimpleFeiDaiPSM wrapper for 1:1 FEI and DAI minting or redemption if sufficiently funded.
Available on Ethereum.
FEI was a USD-pegged stablecoin designed around protocol-controlled value and direct incentives rather than conventional fiat reserves. After governance unwind activity in 2022, the product became a post-mortem stablecoin with redemption mechanics centered on a FEI-DAI wrapper rather than active issuance growth.
Protocol-controlled value originally accumulated through ETH bonding-curve sales and other protocol-owned assets; DAI liquidity in the post-shutdown SimpleFeiDaiPSM wrapper for 1:1 FEI and DAI minting or redemption if sufficiently funded
FEI is recorded on 1 network, Ethereum.
FEI has a market capitalization of $4M as of 11 October 2026.
The most recent recorded depeg for FEI occurred on 30 April 2022, when its price fell to $0.9.