What is FEG Token [OLD]?

FEG Token [OLD] (FEG) is a decentralized transaction network that operates on both Ethereum and Binance Smart Chain. It is powered by its native FEG token, a hyper-deflationary, community-driven governance token that imposes a 2% transaction tax. The FEG ecosystem strives to reshape and evolve the way decentralized finance operates, with features including a FEG Exchange for swapping, staking, and providing liquidity to tokens, as well as fWraps, which allow users to wrap other cryptocurrencies and receive compensation. FEG also introduces Smart DeFi, which seeks to make decentralized finance more efficient by eliminating the need for liquidity pools.

How does FEG Token [OLD] work?

FEG Token [OLD] operates through an ecosystem that includes a variety of decentralized finance elements. The FEG Exchange is an exchange on Ethereum and Binance Smart Chain, with a bridge that enables cross-chain swaps. The FEG token can be traded on both chains and features SmartSwap contracts, an internal liquidity system where trades are not subject to the 2% tax. The ecosystem also includes a staking program, FEGstake, that compensates stakers with 0.12% of the dollar value of all sell transactions on the exchange in the form of wrapped tokens. Additionally, FEG provides a lending protocol called SmartLend, which allows users to borrow against their crypto collateral.

What are the potential use cases for FEG Token [OLD]?

FEG Token [OLD] has potential use cases within the realm of decentralized finance. Its FEG Exchange allows users to swap, stake, and provide liquidity to tokens, while its fWraps feature enables users to wrap other cryptocurrencies and receive compensation. The SmartSwap feature offers traders the possibility to trade without the 2% tax, as long as it's within the internal balance of SmartSwap. Furthermore, the SmartDeFi feature allows users 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.

What is the history of FEG Token [OLD]?

FEG Token [OLD] was created by FEGrox, a pseudonymous lead developer who describes himself as a blockchain expert with years of experience in the decentralized finance (DeFi) infrastructure. FEG Token is both an ERC-20 token on Ethereum and a BEP-20 token on Binance Smart Chain. It has a supply of 100 quadrillion on each chain, with 50% on each chain immediately burned and 2% of every transaction taxed and distributed between all token addresses on that chain. FEG has no team tokens and was listed with no presale and 100% public liquidity.