Understanding FEG Token
By Laxmikant Khanvilkar
FEG Token is a rechristened version of the existing DeFi project “Feed Every Gorilla” (FEG) launched in 2021. Before returning in its new avatar, the earlier project created FEGex (exchange), suffered from an exploit. As a result, it was in complete loss of Limited Partner (LP) funds. As a response to that exploit, the FEG team pledged to assist the affected projects.
The new version is more of a “second shot” for the FEG team. As such, in March 2023, this project was not only rebranded but the FEG token also migrated to a new smart contract.
The migration affected its tokenomics and, hence, we might treat it as a new project. However, the project’s socials and the team behind it are the same.
Recent on-chain data brings out immense potentials of FEG token – a hyper-deflationary DeFi project – as it promises to bring liquidity in the system.
Investors looking to cash-in on the growing optimism are exploring the ways to enter FEG crypto ecosystem and trying to buy the same from the long term perspective before the start of uptrend.
The FEG Token project’s new website states that its goal is to build an ecosystem and passive income around a governance token.
The project invites users to trade crypto assets using the FTW non-custodial, peer-to-peer (P2P), limit-order platform.
By trading crypto assets with FTW, FEG Token claims that users will be able to earn passive income with their asset-backed governance token.
FTW or “From The Wallet” is a limit order trading platform that the FEG Token team plans to launch in the third quarter of 2023.
Furthermore, the project uses its new website to indicate the evolution of the FEG ecosystem. The latter is eventually supposed to include the following:
- FEG SmartDeFi (new token is already live, staking not yet)
- SmartDeFi (not yet live)
- FTW (not yet live)
- Aggregator (not yet live)
- Grafene wallet (not yet live)
- Deployer (not yet live)
The new FEG crypto token is created with an idea of one unified token with increased utility.
The FEG team wants to ensure this token is utilized for asset-backing and interest-free lending. So, a core functionality of FEG SmartDeFi is the staking feature of the FEG token.
According to the FEG team, the new token has improved tokenomics that align with the new project’s needs.
Looking at the above roadmap, one can expect FEG staking to be released in the second quarter of 2023.
According to “fegtoken.com,” SmartDeFi will be a fully audited launchpad allowing anyone to create a cryptocurrency.
There are several ways to buy FEG. After all, the token is live on Ethereum and BNB Chain.
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