FEI Turns Unstable as Genesis Event Ends Raising 639k ETH
CoinEdition
Published Apr 05, 2021 06:45AM ET
Updated Apr 05, 2021 07:00AM ET
FEI Turns Unstable as Genesis Event Ends Raising 639k ETH
- FEI Labs has raised 639K Ethereum from over 17,000 contributors.
- Stable FEI turns unstable as the Genesis event ends.
- FEI users face unintended consequences and penalties.
FEI Labs has raised 639K Ethereum (approx. $1.3 billion) from over 17,000 contributors during the Genesis event to bootstrap FEI decentralized stablecoin. Specifically, the firm launched the event on March 31, 2021, and ended on April 3, 2021. However, as the Genesis event ended, the token experienced a market decline on its value.
Fei Protocol Genesis has officially ended! Thank you to everyone who contributed to a successful Genesis period in bootstrapping the $FEI stablecoin and $TRIBE governance token
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Written By: CoinEdition
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