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Fei Labs raises 639K ETH in genesis event The funds, which are equivalent to roughly $1.3 billion, will be used to bootstrap the Fei decentralized stablecoin. 22926 Total views News Fei Labs concluded a successful genesis launch of its Fei stablecoin on Saturday, raising nearly $1.3 billion in Ethereum (ETH) from over 17,000 contributors, highlighting once again the market’s growing appetite for digital assets and decentralized finance.  A total of 639,000 ETH was committed to the so-called minting of the FEI stablecoin, the company announced Saturday. At the time Genesis concluded, the ETH commitments were worth nearly $1.3 billion.  The funds will be used to bootstrap Fei’s Protocol Controlled Value, or PCV, which is a category of total value locked. PCV represents all assets that are not redeemable by users, including treasuries and insurance funds.

Jon wuGenesis groupFei labsProtocol controlled valueProtocol genesisFei protocol genesisFei protocolஜான் வுஜநெஸிஸ் குழுஃபெ ஆய்வகங்கள்ப்ரோடொகால் கட்டுப்படுத்தப்படுகிறது மதிப்புப்ரோடொகால் ஜநெஸிஸ்ஃபெ ப்ரோடொகால் ஜநெஸிஸ்ஃபெ ப்ரோடொகால்