Fei Protocol
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Protocol TVL
About Fei Protocol
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.
Description sourced from DeFiLlama's protocol metadata; teams submit their own copy when listing.
Fei Protocol tokenomics and on-chain capital
Fei Protocol's governance or utility token carries a market capitalisation of $14.5M based on circulating supply at the latest DeFiLlama snapshot. The market is pricing the token ($14.5M) above the protocol's on-chain TVL ($7.4) — a mcap/TVL multiple of 1954021.43× implies investors are paying for expected future fee flows rather than current deposits alone.
Market cap and supply figures are sourced from DeFiLlama's price feed (which reconciles CoinGecko, CoinMarketCap, and on-chain DEX prices). Treasury and staking values reflect on-chain balances controlled by the protocol at last sync.
Security & Audits
Oracles supply external price data to on-chain contracts. Oracle compromise is a common attack vector — diversified providers reduce single-point-of-failure risk.
Fei Protocol Timeline
Major events flagged by the DeFiLlama community — protocol launches, exploits, governance changes, and incentive programs.
- Apr 30, 2022Exploit $80M FEI
Protocol Profile
Fei Protocol is a Algo-Stables issuance protocol — it mints stable units against collateral (crypto, RWA, or off-chain reserves) and uses redemption or rebalancing mechanisms to hold the peg. It is deployed on Ethereum. The codebase has been independently audited (1 report on file). DeFiLlama tracks 1 historical event for this protocol since 2022.
TVL Distribution by Chain
Supported Chains
Protocol Footprint
Fei Protocol is a single-chain protocol, deployed exclusively on Ethereum — this concentrates execution risk but simplifies the trust model. Price feeds come from a single oracle provider (Chainlink); an outage or manipulation of that feed would propagate into every market the protocol prices. Only one audit report is currently listed; users should weigh that against the protocol's TVL before depositing significant amounts. Its token market cap ($14.5M) currently exceeds total value locked ($7.4) — a mcap/TVL ratio of 1954021.43 suggests the market is pricing in more growth than current deposits support.
Official Resources & Links
Verified external resources for Fei Protocol — use these to read the source code, follow governance discussions, or cross-check on-chain data against the original team's channels.
Other Algo-Stables protocols on Mantapex
Fei Protocol is one of 7 Algo-Stables protocols Mantapex tracks in this category. Direct peers ranked by total value locked include Frax, Mento V2, Generic.Money, and 3 more. These peer protocols collectively secure $86.8M in deposits, giving you a frame of reference for whether Fei Protocol's own TVL is at the top, middle, or tail of the category.
Treasury
Recent Fei Protocol news
Latest reporting from major crypto news outlets covering Fei Protocol.
- UToday
Top Decentralized Stablecoin Fei (FEI) Might Be Shut Down Soon
Fei (FEI), one of largest decentralized stablecoins, might cease its operations: Fei Labs founder releases compensation proposal
- Bitcoin
Defi Development Corporation Adds $9.9M in Solana to Treasury, Taps Binance VP as CFO
The publicly traded firm formerly known as Janover, DeFi Development Corporation (Nasdaq: JNVR), has announced the appointment of Fei “John” Han as Chief Financial Officer and Dan…
- CryptoSlate
Stablecoins: How safe and stable are they?
The first thing most people do when entering crypto using a DEX is to exchange their fiat currency for stablecoins, which can later be exchanged for other tokens. The post…
Related protocols
Other DeFi protocols connected to Fei Protocol by category, deployment chain, or shared codebase lineage — useful for comparing TVL, fee models, or audit posture across direct peers.
Other Algo-Stables protocols
Top protocols on Ethereum
Fork lineage & related versions
Risk Warning
DeFi protocols carry inherent risks including smart contract vulnerabilities, liquidity risks, and potential loss of funds. Always do your own research before investing.
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