Fei is a decentralized stable coin that has recently been added to Aave protocol on Ethereum! Because of this, it’s now possible for a Fei prize pool to be easily created. This would add a new decentralized stable coin to the V3 prize pools already used!
Fei protocol has reached out because they are interested in helping bootstrap the initial pool launch by providing additional Tribe (their governance token) rewards directly into the prize. The proposed amount is $100,000 over 10 weeks distributed as $10,000 in each week’s prize. The main idea is that distributing this into the prize (instead of as an APR) will incentive more organic usage of the Fei token and less large holders who are simply farming.
On top of this, we can also add “ptFEI” to our Fuse pool to help grow usage over there. Fei is currently already a large user of the Fuse protocol.
After the initial 10 weeks expires than POOL governance can vote POOL incentives for the Fei prize pool to continue it’s growth and usage.
- Support launching a Fei Prize Pool
- Oppose launching a Fei Prize Pool