Fei Labs

Fei Labs was the company that created and launched the Fei Protocol in March 2021. The protocol's goal was to create a more capital-efficient and truly decentralized stablecoin, FEI, which maintained its peg to the US dollar through a system of direct incentives and Protocol Controlled Value (PCV). Following a major exploit on a partner platform (Rari Capital's Fuse) in April 2022, Fei Labs and the Fei Protocol merged with the Rari governance token (RGT) to form the Tribe DAO. Due to insurmountable challenges from the hack's debt and internal disagreements, the Tribe DAO community voted in August 2022 to wind down operations, halt all new development, and allow TRIBE token holders to redeem their pro-rata share of the remaining treasury assets. Fei Labs ceased to operate as an active entity following this dissolution.