Cointelegraph Consulting: The Post-Genesis State of the Fei Protocol
After the Fei Protocol failed to live up to expectations in early April, a lot of ink has been spilled on the doomed design of the FEI stablecoin and possible ways of recovery. Covalent’s latest findings in Cointelegraph Consulting’s bi-weekly newsletter add to the discussion by taking a closer look at how the Fei Protocol post-genesis drama unfolded, in numbers. Three weeks ago, the Fei Protocol raised 639,000 Ether (ETH) worth roughly $ 1.3 billion at the end of the genesis event. The data reveals that the event attracted 17,567 unique users, but turned out to be heavily dominated by whales. In fact, 241 addresses, each holding over $ 1 million, collectively contributed 63% of ETH’s total genesis value. Continue reading on Coin Telegraph
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