Fei Protocol genesis locks up $1 billion in ETH, but LPs could face losses

Fei Protocol genesis locks up $1 billion in ETH, but LPs could face losses

The protocol, which launched a genesis event on April 1, introduced a stablecoin that is partially backed by Ethereum and uses bonding curves coupled with direct incentives to maintain the correct peg. These direct incentives penalize price fluctuations moving away from the peg and reward trades that drive prices towards the peg.

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