{"id":218812,"date":"2021-04-04T17:46:42","date_gmt":"2021-04-04T14:46:42","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/fei-labs-raises-639k-eth-in-genesis-event\/"},"modified":"2021-04-04T17:46:42","modified_gmt":"2021-04-04T14:46:42","slug":"fei-labs-raises-639k-eth-in-genesis-event","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/fei-labs-raises-639k-eth-in-genesis-event\/","title":{"rendered":"# Fei Labs raises 639K ETH in genesis event"},"content":{"rendered":"

“# Fei Labs raises 639K ETH in genesis event <\/strong>”
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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\u2019s growing app<\/a>etite for digital assets and decentralized finance.\u00a0<\/p>\n

A total of 639,000 ETH was committed to the so-called minting of the FEI stablecoin, the company announced<\/a> Saturday. At the time Genesis concluded, the ETH commitments were worth nearly $1.3 billion.\u00a0<\/p>\n

The funds will be used to bootstrap Fei\u2019s Protocol Controlled Value, or PCV, which is a category of total value locked. PCV represents<\/a> all assets that are not redeemable by users, including treasuries and insurance funds. <\/p>\n

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Fei Protocol Genesis has officially ended! Thank you to everyone who contributed to a successful Genesis period in bootstrapping the $FEI<\/a> stablecoin and $TRIBE<\/a> governance token <\/p>\n

Lets recap \u27a1\ufe0f<\/p>\n

\u2014 Fei Labs (@feiprotocol) April 3, 2021<\/a><\/p><\/blockquote>\n