CurrencyPriceFEI

Fei protocol supports the creation of decentralized, scalable and fair stable currency based on Ethereum. There is no upper limit on the supply of Fei stable coins, which can track demand and enter circulation through sales along the combination curve. The price function will reward early adopters who buy Fei at a low price at the beginning. Its task is to create a completely decentralized stable currency. This is the position that the development team hopes the future governance community will adhere to. Fei stable currency has an unlimited supply that tracks demand. It enters circulation through the joint curve sales. This curve is close to and fixed at the anchor price of US $1. When new Fei requirements appear, users can purchase them on the joint curve. The price function will begin to reward early adopters of Fei with low prices. The Fei protocol will support the creation of joint curves in any erc20 token, but only a single curve priced in eth will be included when going online. The task of the Fei agreement is to create a completely decentralized stable coin. Therefore, it is crucial that tokens issued by trusted third parties (such as usdc, usdt, wbtc) will not be used as collateral on the joint curve. This is the position that the development team hopes to share with the governance community after the release. Before fixing the price at $1, the ETH joint curve will have a target Fei supply for bootstrapping. This goal is called "scale". Reaching "scale" indicates the end of the bootstrap phase. According to the introduction, "scale" will be set to 250000000 Fei. After the "scale" stage is completed, the joint curve price will be fixed in the manageable buffer above the anchor price. This price creates a restriction in the whole ecosystem, that is, if the price in other places is higher, arbitrageurs can buy on the union curve and sell on the secondary market. It should be noted that users cannot sell Fei on the union curve. On the contrary, the protocol re