Market data as of ,
the same daily snapshot the tracker publishes. Peg drift is the
largest single-day distance from par over the last 30 days, for USD-pegged tokens only.
Last verified 2026-07-11. 2 of the 9
fields shown are recorded but not yet verified
and are marked below;
3 further tracked fields
are not recorded.
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.
01
Instrument facts
9 of 12 tracked fields recorded
Symbol
FEI
Peg
USD
Backing
Algorithmic
Status
Active
Launched
2021
Networks
L1 EVM Ethereum
Specifications
Backing 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 fundedRedemption The Tribe DAO shutdown-contract documentation describes SimpleFeiDaiPSM as an immutable wrapper designed to allow 1:1 minting and redemption between FEI and DAI, provided the contract is seeded with sufficient DAI.unverified
Use cases
DeFi collateral, Settlement
Depeg history
Date 2022-04-30 · Low price 0.9 · Cause Launch-period liquidity and incentive-design stress after the Fei genesis eventunverified
02
Supply by chain
1 chains · $4M total
Chain
Supply
Ethereum
$4M
Chains holding at least $1M of this token, from the daily cross-chain compilation.
The total may differ from the market capitalization above, which is a separate
measurement.
03
Contract addresses
1 chain
Chain
Address
Ethereum
0x956f47f50a910163d8bf957cf5846d573e7f87ca
Addresses as recorded for this token. Verify against the
issuer's own published address before sending funds.
## Overview
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.
## Key Features
- Protocol-controlled value model
- Direct incentives intended to defend the peg
- TRIBE governance
- Post-shutdown FEI-DAI wrapper rather than active stablecoin growth
- Wound-down protocol with no verified ongoing development
## Reserve Backing
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.
## Supported Networks
Available on Ethereum.