A Brief And Simplified Introduction Of FEG and The World’s First SmartDeFi Token, ROX, From A Trusted Community Member
- The FEGeth side started operating on January 31, 2021, and the FEGbsc side on February 12, 2021.
- With each transaction, whether buying, selling or transferring, 2% of the FEG in the transaction is taxed. Just over 1% of it goes to the wallet of burned tokens and just under 1% is distributed between the holders. Depending on the amount of FEG the person holds, the amount of reward or so-called reflection will vary. FEG began designing and developing its own dedicated, decentralized exchange, FEGex. The exchange was designed to support sections such as Staking, fWrapping, SmartSwap, Liquidity Pools and Bridge. At this time, the blue checkmarks of ETH and BSC sides, Telegram and Twitter and the security confirmation of Solidarity Finance was taken and took the uneven and difficult path to reach a Decentralized Exchange with more seriousness.
- After about 7 months (Today’s date: September 7, 219 days have passed since the launch on the ETH side and 207 days have passed since the launch on the BSC side). ETH holders so far staked 18.3% of their tokens and 30.2% are staked by BSC holders (total holders on ETH: 81K and BSC: 674K). Staking will pay rewards in 7 ways to stakers. Read the FEG Whitepaper to learn more.
- A section called AutoDeployer or FEGDeployer was added to the ecosystem, which allowed other developers to list their tokens and enjoy the benefits of being listed in an exchange where they can receive a portion of all sell fees on their token. At the same time, another section has been added to list SmartDeFi tokens, and developers can take advantage of this feature in the coming weeks.
- The ability to fWrap is still active and those who want, can use this feature in the exchange in front of them. Over time, we will see more lists of currencies to be fWrapped. Read the FEG Whitepaper to learn more.
- Liquidity pools start operating and support transactions related to pairs. Liquidity providers receive a portion of 0.2% of sell fees.
- In September, the FEG Ecosystem Development Team launched the world’s first SmartDeFi token called ROX Token. The token’s liquidity is locked on the token and internal coding and is 100% unruggable. ROX increases the burning rate of FEGtoken and has a baseline value which can only increase. In fact, ROX is mentioned as a protocol in the service of the ruling FEG.
- A section called SmartTools was added to the exchange, which now allows us to check the backing data of the first SmartDeFi token, ROX, and when market price drops below baseline value, you can use SmartTools to burn your SmartDeFi tokens and receive asset backing (BNB or ETH).
- The UI design, FEGcharts, updated FEGtrack, Bridge, fiat purchases on FEGex, and SmartDeFi FEGdeployer are among the most important ongoing projects. Not all things being worked on are here.
- FEG ecosystem development projects and plans are in accordance with the schedule, advanced and not limited to the above.
- Effective sources of token burning include buying, selling, transfer, stake, unstake, P2P transfers, Swap2Swap and SmartDeFi token transactions. As the number of SmartDeFi tokens increases, the burn rate will also increase. Recently, another important news item was published about token burning with 1% of buy and sales of tokens that are listed on FEGDeployer. And still we are waiting for a big surprise.
- It was recently announced that a new SmartLend project related to SmartDeFi tokens has been finalized and implemented. This is revolutionary technology allowing ALL investors in DeFi to lend and borrow money! Decentralized banking at its finest!
- At present, the number of tokens in circulation in the ETH side is equal to 41.53 Q and the BNB side is equal to 43.1 Q. Subtract the numbers from the total 50 Q to get the amount of tokens burned on each side.
- New FUNDAMENTALS are constantly being updated. Make a personal decision with yourself, to either constantly talk about pricing and charting, or understand the bright prospects of an upcoming project. The future of DeFi is in our hands, maintaining such a thing, in addition to competence, also requires patience. The decision is yours!
The Biggest Event In The World Of DeFi, ROX
The world’s first SmartDeFi token, ROX.
A serious protocol to intensify the burning of the FEG token, that is the governance of the great FEG ecosystem. The token that will carry the liquidity capability on its coding for the first time and will be called the safest asset in the world without need for any third party.
The token is the first in the crypto world to use backing assets and will contain an intrinsic value. A token that will have the ability to increase price and build smart rising floor. A token that will be mentioned as the Model Home in the world of SmartDeFi and Crypto.
All of the above will be a cornerstone of the power, potential and usefulness of the FEG ecosystem. Familiarity with the whole ecosystem will surely bring you more surprises.
FEG has just begun a path that will eventually lead to the completion of a distinct ecosystem in the DeFi industry, along with the introduction of many new features.
Studying the benefits of staking, FEGdeployer and its benefits, fWraps, liquidity pools, Bridge capability and Smart Tools, can introduce you to the fascination of the FEG ecosystem for hours
So welcome to the biggest event in the world of DeFi.
Thank you to MJ. Taheri, a trusted community member of FEG, for this fantastic write up. We at FEG encourage all of you looking for an in depth overview of FEG to read the FEG Whitepaper here:
Let’s Bring DeFi Together! Stay FEG strong!