ITSA lists FEI Stablecoin in Tokenbase

  1. Tokenized Currencies (e.g., Tether)
  2. Off-Chain Collateralized Stablecoins (e.g., Digix Gold)
  3. On-Chain Collateralized Stablecoins (e.g., Dai)
  4. Algorithmic Stablecoins (e.g., FRAX)
Figure 1: Fei’s Protocol Controlled Value (PCV) (Source: https://app.fei.money/analytics)
  • Protocol Controlled Value (PCV)
  • 1:1 redeemability of FEI
  • Algorithmically controlled risk, liquidity, and yield via Balancer pools
  • Buybacks and backstop mechanisms for the PCV through its TRIBE governance token
  • Protocol DAO governance through its TRIBE token

Governance

The Fei DAO aims to become fully decentralized. The TRIBE token holders are responsible for all critical decisions, from voting on bonding curve parameters to adjusting the PCV allocations. As mentioned before, TRIBE tokens are the backstop of the protocol becoming undercollateralized. Therefore holders are regularly rewarded through buybacks. Fei DAO is exploring the option of Optimistic Approvals where a committee gets appointed which makes decisions on the protocol upgrades. There is a time lock during which the DAO token holders can veto the committee. This way, people would only be required to participate in the DAO if they disagreed with the decisions, significantly reducing the time spent on DAO voting from each member.

Liquidity as a Service (LaaS)

Fei Protocol is looking to branch into different service offerings by utilizing its PCV holdings. One such service is the Liquidity as a service (LaaS) which is primarily aimed at other DAOs. A big challenge when launching a DAO is to provide liquidity for the DAOs native token. This is where the Fei Protocol comes into play. Projects can deposit their native token into a liquidity pool (LP), and Fei would match their deposit with an equivalent amount of FEI tokens. The token pair then gets deployed as liquidity on decentralized exchanges. LaaS doubles the liquidity of the DAOs token.

The classification of FEI according to the ITC:

Figure 2: The FEI Tokenbase entry (Source: https://itin.itsa.global/6KTQS77B3)

The International Token Standardization Association (ITSA) e.V.

The International Token Standardization Association (ITSA) e.V. is a not-for-profit association of German law that aims at promoting the development and implementation of comprehensive market standards for the identification, classification, and analysis of DLT- and blockchain-based cryptographic tokens. As an independent industry membership body, ITSA unites over 100 international associated founding members from various interest groups. In order to increase transparency and safety on global token markets, ITSA currently develops and implements the International Token Identification Number (ITIN) as a market standard for the identification of cryptographic tokens, the International Token Classification (ITC) as a standard framework for the classification of cryptographic tokens according to their inherent characteristics. ITSA then adds the identified and classified token to the world’s largest register for tokens in our Tokenbase.

  • The International Token Identification Number (ITIN) is a 9-digit alphanumeric technical identifier for both fungible and non-fungible DLT-based tokens. Thanks to its underlying Uniform Token Locator (UTL), ITIN presents a unique and fork-resilient identification of tokens. The ITIN also allows for the connecting and matching of other media and data to the token, such as legal contracts or price data, and increases safety and operational transparency when handling these tokens.
  • The International Token Classification (ITC) is a multi-dimensional, expandable framework for the classification of tokens. Current dimensions include technological, economic, legal, and regulatory dimensions with multiple sub-dimensions. By mid-2021, there will be at least two new dimensions added, including a tax dimension. So far, our classification framework has been applied to 99% of the token market according to the market capitalization of classified tokens.
  • ITSA’s Tokenbase currently holds data on over 4000 tokens. Tokenbase is a holistic database for the analysis of tokens and combines our identification and classification data with market and blockchain data from external providers. Third-party data of several partners is already integrated, and API access is also in development.

Remarks

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International Token Standardization Association

International Token Standardization Association

The International Token Standardization Association (ITSA) is a not for profit organization working on holistic market standards for the global token economy.