Algorithmic Stablecoin Crashes 50% as Devs Scramble for a Fix

FEI is an algorithmic stablecoin that attempts to maintain a $ 1 valuation without real collateral (such as USDT or USDC) or cryptocurrency (such as DAI).

However, due to low demand, the dollar peg was unable to maintain its hold by running a basic algorithm that charges liquidity providers a fee to sell the FEI if the price is below the $ 1 target.

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• Algorithmic Stablecoin Crashes 50% as Devs Scramble for a Fix