Summary
FEI is a partially reserve-based algorithmic and scalable stablecoin. FEI has launched a new DeFi primitive in the form of protocol governed liquidity to create a new form of stablecoin asset. FEI is looking to create a new stablecoin that seeks to stabilize itself not via IOU-based debt commitments, rather through a monetary peg-based policy on the basis of protocol controlled reserves. FEI currently has $736 million in protocol controlled value. As a collateral asset, C.R.E.A.M could be one of the first lending protocols where much of the $595 million circulating FEI supply can be supplied or borrowed against it, and the opportunity to use the protocol-controlled value (736 million dollars) as liquidity.
Options for the proposal:
For: List FEI as a collateral asset on C.R.E.A.M.
FEI Token address: 0x956F47F50A910163D8BF957Cf5846D573E7f87CA
Against: Do nothing
Benefits to CREAM:
FEI holders have a need to lend/borrow, and the Fei DAO has the ability to provide liquidity to these pools using the Protocol Controlled Value of currently $736 million(~260k ETH). Fei plans to use PCV funds to enable the FEI DAO to set and manage interest rates in a lending market, and C.R.E.A.M could be the first to take advantage of this opportunity.
By adding FEI as a collateral asset, C.R.E.A.M will increase TVL and generate more usage.
The Fei team has committed to publicly marketing and promoting the CREAM suite of products (27k+ followers).
DeFi Integrations:
Uni V2: FEI-ETH and FEI-TRIBE have been the largest liquidity pairs on Uni V2 since its launch, with a 7-day volume of $581 million and $73 million.
Uni V3: FEI/USDC pools currently have $305 million 7 day volume
FEI circulating supply: $593 million
Chainlink: The FEI/ETH price feeds are live on mainnet: Ethereum Price Feeds | Chainlink Documentation
Primary resources for Fei can be found on this website:
Website
