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Re-designing DeFi’s structure with FEG token

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DeFi’s mainstream adoption is long overdue, and while there has been an influx of platforms and exchanges propping up in the space, there is still a lot that needs to be done. FEG token’s vision is to re-design the way the DeFi system works, they aim to provide a decentralized transaction network that would operate on Ethereum blockchain and Binance Smart Chain.

FEG or Feed Every Gorilla is a community-driven platform that was launched to reshape and evolve DeFi while also building a robust ecosystem that supports its advancements.

The FEG token

The FEG token is hyper-deflationary in nature meaning that the token is designed in a way that a certain percentage of the tokens are burnt with each transaction, thereby maintaining its value and incentivizing its holders.

It operates both on Ethereum and Binance Smart Chain. The total supply of the FEG token is 100 Quadrillion. Every transaction would have a 1% tax which would be further distributed to the holders and another 1% would be burnt in order to maintain the hyper-deflationary nature of the token.

The token is fully decentralized and was audited by Solidity Finance, which gives assurance to all its users that it doesn’t have any denial-of-service (DDoS) attack routes.

What is FEGex?

FEGex is the cross-chain centralized/decentralized exchange that allows users to stake, swap, and add liquidity to pools.

It is an all-in-one exchange that offers functionalities such as FEGswap, SmartSwap, FEGstake, Liquidity pool, and Bridge (between ERC-20 and BEP20).

fWrap

The fWrap option on FEGex allows users to wrap tokens such as ADA, DOGE, XRP, LTC and USDT, FEG, and much more. Wrapping coins would help users earn a passive income, while a 1% fee is applied while wrapping and unwrapping cryptocurrencies.

1% of all transactions (buy, sell or transfer) would immediately and automatically go to holders of that fWrap. This makes fWrap a beneficial way of earning an APY (annual percentage yield).

FEGtrack

FEG token holders can keep a track of their tokens using the FEGtrack app which can be downloaded on Android and iOS. FEGtrack uses data from the public wallet addresses which let users track their FEG balance in real-time.

FEGtrack also has a web app that can be used on desktops. Live burning and circulation of tokens can also be tracked on the app.

ROX: A SmartDeFi token

SmartDeFi is an innovative template that allows swap sites to integrate a token trade completely while making use of the token’s liquidity pool. This would make it almost impossible to rug and make the usage of exchanges redundant.

The ROX token is the world’s first SmartDeFi token with a total supply of 1000 ROX on both the Ethereum and Binance Smart Chain. A 2% share of all transactions (buy, sell and transfer) would be distributed to holders.

FEG and PASA

The Pan African Sanctuary Alliance (PASA) is a charitable partner of the FEG token community. PASA has been fighting against illegal hunting while also researching wildlife and educating people about the same. It has a network consisting of 23 members across 13 African countries.

The FEG token community’s 100% donations along with $750 (USD) is matched 1:1 by the FEG team every month.

The platform has also created a perpetual charity crypto wallet that is powered by frictionless yield and allows PASA to receive uninterruptible donations continuously.

Final Word

The FEG token aims to change the way the DeFi space currently functions with its well-rounded platform. The hyper-deflationary nature of the token can prove to be rewarding for token holders in the long term while the fWrap option guarantees a steady flow of rewards.

SmartDeFi and the ROX token provide an innovative and rewarding service to the FEG ecosystem. While the FEGtrack makes keep a track of tokens easy.

The DeFi space is taking strides towards becoming mainstream and the FEG token community is aiming to become a pioneer in the area.

For more information on FEG token, please check out their official website.

Disclaimer: This is a paid post and should not be treated as news/advice.

With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.