What is FEG Token?
FEG is a cross-chain protocol that facilitates blockchain transactions. The project is compatible with the two largest platforms for building dApps – Ethereum and Binance Smart Chain (BSC). To put it simply, FEG essentially is a financial service provider that allows you to send, receive or invest your crypto assets across various blockchain applications.
At the heart of FEG’s operations is the protocol's native token that goes by the same name – FEG. The FEG token is billed as hyper-deflationary, meaning its supply depletes faster to trigger more demand as its user base grows. Thus, driving up the FEG token price is the protocol's priority.
FEG is an acronym for Feed Every Gorilla, a reference to the project’s ties to a wildlife conservation charity organization, Pan African Sanctuary Alliance, which it funds.
You can see the current FEG price on the FEG Tokens price chart featured above.
The FEG ecosystem’s development is geared towards rethinking decentralized finance (DeFi). Primarily, the protocol facilitates a P2P crypto trading platform in which token holders are able to earn passive income as incentives. You can track your FEG rewards on the go via web or mobile through its dedicated dApp, FEGtrack.
Furthermore, there's a FEG Exchange, which is a feature-packed decentralized exchange (DEX). The DEX allows users to swap between BEP-20 and ERC-20 tokens, stake, farm, or even supply liquidity to pools across chains. What’s more? As a liquidity provider, you have endless liquidity pool options across BSC and Ethereum. FEG Exchange also integrates a non-custodial wallet that allows users to securely store their cryptocurrencies.
Besides that, FEG employs a unique FTW trading concept (short for from-the-wallet trading). FTW maximizes efficiency and minimizes gas fees. Apart from swapping regular tokens, FTW trading can also be used to buy, sell, or transfer NFTs.
It's also important to note that, apart from FEG tokens, the platform also has ROX tokens. They are used as governance tokens, which means that ROX holders have the right to vote on various decisions concerning the future development of the FEG crypto project. However, there's an upgrade scheduled for ROX, which will integrate it with FEG to keep its competitive edge in the crypto market. The unified token will feature increased functionality on FEG and interest-free lending.
Who Founded FEG Token?
FEG was created by FEGrox, a mysterious blockchain developer. Not much can be said about the project’s team. Despite this mystery, FEGrox often engages the FEG Token community on Twitter. From his tweets, FEGrox aims to make FEG the go-to token for DeFi. He is the protocol’s lead developer and works with other developers to refine the project.
What Can You Do With FEG Tokens?
In essence, the FEG coin is the protocol’s utility token that facilitates transactions across the protocol’s dApps. FEG holders can swap tokens on FEG Exchange, stake them on FEGstake, or provide liquidity to pools across BSC and Ethereum. For staking and liquidity provision, users receive rewards.
Given FEG’s hyper-deflationary model, the token is better suited to store value, unlike other deflationary tokens. FEG is continually burning tokens to trigger the natural laws of supply and demand into raising the FEG price. You can check the current FEG token price on the chart above.
FEG Tokenomics
FEG token has a maximum supply of 100 quadrillions. Half of the initially launched tokens were burned. Now, each transaction on FEG incurs a 2% fee, from which 1% is sent to a burn address, and the remaining 1% is distributed to FEG crypto holders. As of September 2022, FEG has burned at least 58% of its tokens, reflecting the token’s hyper-deflationary mechanism.
