I don't think that the Elves had a feudal system. They probably had a bit of a class system, for example, the descendants of Finwë would have been deferred to a lot more than, let's say, a Marchwarden of Lothlorien. I think all those people who were descended from those three great Elf-Kings were considered the "nobles," and the ones who weren't really descended from them were considered more of the commoners. Also, it would make sense that the Eldar would have a higher status than the Avari, having come from Aman and all.
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But Melkor also was there, and he came to the house of Fëanor, and there he slew Finwë King of the Noldor before his doors, and spilled the first blood in the Blessed Realm; for Finwë alone had not fled from the horror of the Dark.
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