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FEI uses a new kind of stablecoin mechanism called protocol controlled value (PCV). It is more capital-efficient, has a fair distribution, and is fully decentralized. The protocol uses the value it controls to maintain liquid secondary markets.

Fei Labs is the team that created FEI, a highly scalable, decentralized, and reserve-backed stablecoin that can meet DeFi’s needs without relying on centralized assets for collateral, that unlocks next-generation integration potential. Our mission is to be the stable coin of DeFi backed by some of the top minds in the space, including a16z, Nascent, Variant, Coinbase,

Fei v2 launches in late 2021, bringing 1:1 redeemability, TRIBE buybacks/backstop, and algorithmic PCV management: 

Fei USD

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FEI	USD
0.1	0.09979058942
1	0.99790589425
2	2.00
5	4.99
10	9.98
20	19.96
50	49.90
100	99.79
1000	997.91

USD	FEI
0.1	0.10020985002
1	1.00
2	2.00
5	5.01
10	10.02
20	20.04
50	50.10
100	100.21
1000	1,002.10

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