Consulting Cointelegraph: Post-formation state of the Fei Protocol
After the Fei Protocol failed to meet expectations in early April, more ink was poured into the dead design of the FEI co-stabilizer and possible ways for recovery. Covalent’s latest findings in Cointelegraph Consulting’s biweekly newsletter add to the discussion by taking a closer look at how the Fei Protocol’s post-inception TV series plays out, in numbers.
Three weeks ago, Fei Protocol raised 639,000 Ether (ETHwas worth about $ 1.3 billion by the end of the inaugural event. The data revealed that the event attracted 17,567 unique users, but it turned out to be heavily dominated by whales. Indeed, 241 addresses, each holding more than $ 1 million each, collectively contribute 63% of the total initial value of ETH.
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