- Fei Labs raised 639,000 ETH.
- The money serves as collateral for its dollar-pegged stablecoin, FEI.
- A lot of investors are now stuck.
The Genesis launch of Fei Labss stablecoin protocol on Saturday raised 639,000 ETH, or $1.3 billion at the time of writing. The launch has been described by some analysts as the biggest launch in DeFi history. But the token design makes it far easier to plug funds into the protocol’s ecosystem than withdraw them.
Biggest launch in Defi history? @feiprotocol…