Medium Term Roadmap

Hey everyone,

We are excited to share an update on the most important community and core team objectives over the coming months.

These objectives fall into three broad categories:

  1. Protocol Upgrade
  2. Core lending integrations
  3. Other initiatives

We are going to be diving deeper on everything below in specific posts as they become relevant.

Protocol Upgrade

As mentioned in a recent announcement, OpenZeppelin is currently auditing an enhanced version of the protocol that contains many useful upgrades and increases security. Here is the audit timeline:

  • week of June 7 - audit start
  • week of July 5 - audit end
  • late July - Feedback addressed and reviewed
  • early August - Deployment

The contents of the audit include:

  • Ability to create new bonding curves, reserve stabilizers, and Uniswap PCV deposits with any ERC-20
  • Support for Chainlink oracles
  • An improved reweight algorithm which operates on both sides of peg and minimizes protocol PCV spending
  • TRIBE emergency backstop

We are going to want to discuss and snapshot these optional changes which depart from original protocol functionality:

Core Lending Integrations

A major use case for stablecoins is matching demand for leverage with demand for yield in lending markets. We regard these 4 partnerships as the top priority for Fei Protocol, and hope to integrate and bootstrap markets in each in the coming months:

With community input, we should set criteria for the minting of FEI or the transfer of PCV directly into a partner protocol to provide liquidity. Minting FEI would help bootstrap the market and provide yield for the protocol. Leverage traders can use deep FEI-ETH liquidity to leverage ETH with any FEI supplied in these markets.

Other Ongoing Initiatives

Continuing to clarify PCV management strategy and make tactical deployments:

  • stETH purchase for yield generation
  • Revisiting DAI/stablecoin opportunities with additional clarity on deployment strategy

Enhancing TRIBE liquidity incentives strategy. This would allow distributing the current TRIBE rewards to incentivize multiple dex and lending pools rather than just FEI-TRIBE.

Hiring for the core team. Check out our open positions here: https://angel.co/company/fei-labs

We are also actively pursuing exchange listings for FEI and TRIBE to help widen access throughout the ecosystem.


There are many exciting opportunities to build in the coming months! We are looking forward to more community discussions on related topics and further ways to increase the adoption of FEI as a decentralized and scalable stablecoin throughout DeFi🌲

11 Likes

Exchange listing is paramount. It should be top priority…

2 Likes

great roadmap!

Could you kindly elaborate what does the emergency backstop for TRIBE mean?
is it like a FED backstop for the commercial debt market?

1 Like

If the price of ETH falls sharply, how can Fei maintain stability near $1

This would be similar to how MKR is minted and sold for DAI that is burned when MakerDAO becomes insolvent. In our case with parameters determined by governance the TRIBE token would be minted and sold for FEI to burn at $1 or some other price. We hope to have more discussions around this later on after we get a few of the integrations and other items on the roadmap out of the way.

The answer to this would be the mechanism described above, if FEI price begins to break peg we can use TRIBE as a backstop to support the protocol. Under normal circumstances we would be able to defend the peg with reweights and the bonding curve.

Thank you for great update.
I didn’t know about this roadmap so I thought FIP-6 fail and wasted a lot of time. (like FIP-1).

Sorry for bad words. I mean. It good for community to know that we have progress.