Feg Token

What Is FEG Token (FEG)?

FEG Token is a decentralized transaction network on Ethereum and Binance Smart Chain. It is driven by its native FEG token, which is a hyper-deflationary, community-driven governance token with a 2% transaction tax.

FEG offers an entire ecosystem built with a focus on reshaping and evolving how decentralized finance works. It includes a FEG Exchange for swapping, staking and providing liquidity to tokens, as well as fWraps, which enable users to wrap another cryptocurrency like ADA, DOGE, or XRP and receive rewards. Moreover, it offers FEGtrack, a mobile and web app enabling users to track their FEG rewards. FEG also introduces Smart DeFi, which it calls “the latest innovation.” According to FEG, it makes decentralized finance more secure, efficient and provides better returns by removing the need for liquidity pools.

FEG stands for Feed Every Gorilla, and FEG has Pan African Sanctuary Alliance (PASA) as a charity partner. It matches the first $750 in donations by the community each month.

Who Are the Founders of FEG Token?

FEG was created by FEGrox, the project’s pseudonymous lead developer. FEGRox has a quite active Twitter account with over 40,000 followers and describes himself on his website as “a mysterious and highly trusted blockchain expert with countless years of experience, whose works are helping evolve the decentralized finance (DeFi) infrastructure.” He claims to work exclusively on FEG and dedicates “100% of [...] time and focus is on making FEG Token the face of DeFi!”

What Makes FEG Token Unique?

FEG provides a quite elaborate ecosystem with different decentralized finance items. Its FEG Exchange is an all-in-one exchange on Ethereum and Binance Smart Chain, with a bridge that makes cross-chain swaps possible. The FEG token can be traded on both chains. It also features SmartSwap contracts, an internal liquidity system where trades are not subject to the 2% tax. All sells on FEG Exchange are subject to a 0.08% fee that funds a cashback program.

FEGstake is the ecosystem’s staking program that rewards stakers with 0.12% of the dollar value of all sell transactions on the exchange in the form of wrapped tokens like fBNB and fETH. Stakers are not subject to impermanent loss and only pay the regular 2% transaction tax for staking and unstaking. Holders can also provide FEG as liquidity and receive rewards in fBNB or fETH. Liquidity providers receive 0.2% of all sells on the pair they provide liquidity for. Traders can also wrap other cryptocurrencies for a 1% tax and receive automatic rewards if someone provides liquidity for that pair.

The SmartSwap feature offers traders the possibility to trade without the 2% tax, as long as its within the internal balance of SmartSwap. Any wrapped tokens are subject to a 1% fee, but gas fees within SmartSwap have been reduced to up to 40%.

SmartDeFi offers users a possibility to build a UI for tokens they want to generate, with an underlying asset providing the backing for it. Users can then trade between the underlying asset and the wrapped tokens like fBNB or fETH. FEG also provides a lending protocol called SmartLend, allowing users to borrow against their crypto collateral.