Fei Protocol

Team Cites Technical Challenges And Future Regulations As Risks

Fei Protocol is fighting to make a comeback. Back in April, the project’s stablecoin, meant to maintain a $1 peg, dropped as low as $0.92 after raising 639,000 ETH, worth $1.3B, in its highly anticipated launch. The Andreessen Horowitz-backed project is still swinging however, and has just launched a v2 with a few key changes.…

Fei Protocol was one of the most anticipated project launches this year –– an algorithmic stablecoin backed by heavyweights like Andreessen Horowitz and Coinbase Ventures–– and it raised funds accordingly, attracting an eye-popping $1.3B in ether over the weekend. But it’s all spiraled down from there. The high of the sale was immediately tainted by…