Proposal: Add $FEI as a collateral asset

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

6 Likes

AKA “$736 million” of eth treasury.

5 Likes

Hey all! Im a member of the fei community, and would love to see this happen :). As Dio pointed out, this would be beneficial for all parties involved, cream usage increases, and fei gains more use!

5 Likes

Hey there,

Another member of the FEI community here. The community is really looking forward to finding avenues to put their FEI to use. Would be very happy to see this happen. Hope the CREAM community will accept and join forces with this liquidity monster :slight_smile:

4 Likes

Another Fei community member checking in, would love to see this happen! I think there are very clear benefits for both projects here, but let us know CREAM community if you would like to see some changes :muscle:

In fact I welcome everyone reading this to head over to our Discord, if you have any questions, or message us on there directly. You can find me under meertitan#5901 :smile:

3 Likes

The voting will start soon
https://vote.cream.finance/#/cream-finance.eth/proposal/QmULxzLjL1czpxooqb5T5LCk26zZABHgjZbfmXAtNLrzcD

2 Likes