Fei Protocol

The Fei system and software (the “Fei Protocol”) is an autonomous system of smart contracts on the Ethereum Blockchain that permits, among other things, the generation of Fei, transactions using smart contracts, and lending and borrowing of cryptocurrencies.

FEI uses a new kind of stablecoin mechanism called direct incentives. 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.