How To Participate In Fei Protocol Genesis
Fei Protocol Genesis is the start of a new type of decentralized stablecoin. The purpose is to bootstrap FEI’s initial supply, the protocol’s reserves, and the initial governance distribution for TRIBE. This article is a guide for participating in Genesis. Please review how Fei Protocol works and its associated risks before participating.
Genesis Window:
- Start Of The Genesis Group: March 31, 2021 at 12:01 PM PT
- End Of The Genesis Group: April 3, 2021 at 12:01 PM PT
1. Prepare Your Wallet and ETH
In case you do not have a WalletConnect compatible wallet, set one up. If you have your ETH on an exchange or a hosted wallet, transfer it to your compatible wallet or connect your hardware wallet to WalletConnect via our app. Make sure you have your ETH ready for transfer in advance.
2. ETH Commitment
Once Genesis has opened go to https://app.fei.money and connect your wallet to the site.
As an example, on MetaMask, click the web browser plug-in and connect your mainnet wallet to our UI. After that, enter the amount of ETH you would like to transfer, generate and send the transaction.
Keep in mind that the committed ETH transactions are one-directional, you cannot change the amount after the transaction is confirmed. You can increase the amount of committed ETH with additional transactions, but can’t withdraw the committed ETH. Remember, every participant in Genesis gets the same FEI and TRIBE exchange rate if you join any time during the window.
3. Optional Pre-swap for TRIBE
After your ETH commitment transaction is confirmed you will have the option to pre-swap your FEI for TRIBE. The pre-swapping amount is chosen from your committed ETH to the protocol, before it is converted to FEI. If you are going to pre-swap, select the amount you prefer, then confirm the transaction.
Keep in mind pre-swapping is one-directional, you can’t change the pre-swap amount after the transaction is confirmed. You can increase the amount to be pre-swapped with additional transactions, but not lower it.
Read more about pre-swapping in the Fei Protocol Genesis Group Announcement.
4. Follow The Fei Protocol and Genesis Announcements
We recommend you to check our official channels (Discord, Telegram, and Twitter) to track the Genesis progress. The Genesis Group closes on April 3rd, 2021 at 12:01 PM PDT.
