FEG AMA recap

Date : 5 june 2021 at 3 pm UTC

Hosted by : Mukul Sharma

Speaker : ste cha & RTRcrypto

Mukul Sharma | Crypto Royals:
Good evening everyone, I am pleasured to have FEG team to join our AMA today.

Hello @ste_cha and @RTRcrypto So nice to have you with us for AMA Session today.

RTRcrypto 🇺🇲:
Hello everyone! Great to be here

Ste Cha:
Hi guys its a pleasure to be here and to talk to the Crypto Royal’s

•Introduction Question

Mukul Sharma | Crypto Royals:
Q1) Can you please introduce yourself as well as FEG ?

Ste Cha:
Well hello Royals, I am Ste Cha from FEG admin and the marketing lead !! I invested in week 2 back in Feb 2021 of this amazing and groundbreaking Defi project. For me and a growing many people around the world FEG is becoming a household name with a huge community and products that will literally blow your mind but that's for a later question, FEGrox has built this to succeed from the ground up with the very latest in tech for the investor's pleasure. DONE

RTRcrypto 🇺🇲:
I am RTRcrypto, FEG Admin and Voice Chat Manager, I host AMA's and oversee our global admin group connecting the main chat to all language chats for $FEG.

I play a role in many areas of the project as do the rest of the admins.

I will now post an explanation post about FEG tokenomics and FegEx our exchange

FEG token basic tokenomics:

Deflationary token with a 2% tax any time someone buys/sells/transfer.

58% of the 2% goes to the burn address on the ETH side (58Q in the burn address and 42Q in circulating supply) and 42% of the 2% is distributed to the community

56.2% of the 2% goes to the burn address on the BSC side (56.2Q in the burn address and 43.8Q in circulating supply) 43.8% of the 2% goes to the community distribution.

As the burn addresses get bigger they will take a larger percentage of the 2% tax (hyperdeflationary) putting positive price pressure on the FEG token as the circulating supply is decreased and demand rises

FegEx Explained:

FegEx is a multi-chain decentralized exchange that runs on the ETH and Binance Smart Chains.

The development of the bridge allowing the swapping of FEG ERC/BEP back and forth and more is under development and will be out shortly following the version 2 update at the end of June.

Reward Systems

Staking:

For every sell transaction there is a 0.12% transaction fee that will be distributed to the staking pool (based on the chain ERC or BEP) and then distributed to the community based on their percentage of ownership of said pool (based on the total number of tokens staked. This 0.12% fee is not only from FEG token sales, but from sales for EVERY TOKEN that ever lists on FegEx as well as EVERY TOKEN that ever launches on the SmartDeFi platform (see more at fegrox.com about SmartDeFi).

FEGtoken holders who stake will receive their portion of the community distribution from the 2% tax; however, the FEGtokens are auto-converted into fETH or fBNB based on the USD value at time of reward & the chain that you are staked on.

Staking rewards in fETH & fBNB do not earn the frictionless 1% distribution from the fWrap rewards system until said rewards are claimed

No impermanent loss with staking (2% tax when moving tokens into staking and out of staking, just like any other movement of FEG tokens)

Liquidity Pools:

1 and 2 sided LP's (you can add to LP with only FEG tokens or add FEG tokens paired with fETH or fBNB)

Impermanent loss applies

All future tokens will get 0.2% sell fees that pay liquidity providers of their pool

Any pair that lists on FegEx can choose to bypass staking and give 0.35% of sell fees to their Liquidity Pool

fWrapping:

Base pairing means any new tokens that list on FegEx will have the option of adding liquidity/pairing between these newly listed token choices. (see #22 on the FAQ, fegtoken.com -> FAQ in the menu bar)

With the additional pairing to these tokens, it will allow anyone who owns the paired tokens to bring them to FegEx and fWrap them to earn their portion of the frictionless 1%.

*These rewards are in the same token that is fWrapped*

E.g., If you fWrap fDOGE your rewards will be in fDOGE

The frictionless 1% comes from the wrapping/unwrapping of tokens on the exchange (these rewards are completely independent from the staking rewards).

Trading between $FEG and one of these fWraps will be possible ONLY if someone adds liquidity to set up the pair.

Auto-listing will enable any token to list on FegEx, add liquidity, and create trading pairs.

DO NOT fWRAP Deflationary tokens (tokens that give you frictionless rewards to your wallet like FEG)

SmartSwap:

NO 2% TRANSACTION BURN WHEN SWING TRADING INSIDE SMARTSWAP!!!

All sells, internal and standard swaps incur sell fees

These fees will push the 0.12% staking rewards to the staking pools!

You can only trade within the pool you are smart swapping inside of
If you deposit FEG into the FEG/ETH pool, then you can trade FEG/ETH back and forth as you please within that pool and never incur transaction fees (2% burn) and save up to 50% gas fees.

There is a 2% Tax on FEGtokens if you put them into and out of SmartSwap

You can still standard swap while holding assets inside of SmartSwap, there is a regular balance and an "Internal Balance" inside of SmartSwap

•Twitter Questions

Mukul Sharma | Crypto Royals:
First question from twitter

What will differentiate us from pancakeswap and uniswap? to be able to dethrone them

From @lecommandant_

RTRcrypto 🇺🇲:
I don't think the point is to dethrone anyone, it is our goal to simply improve trading, increase safety in the DeFi space and to really allow the users of FegEx to earn passive income in several ways mentioned in my post...

Our exchange is not a clone of uni or Pancake swap, completely hand written code by our team allowing us to expand greatly on its functionality

We are multi-chain running on ETH and BSC

Bridge coming soon to swap back and forth between the chains

We are working on implementing a fiat to FEG payment system on FegEx as well

These discussions are under way and the legalities being researched

Mukul Sharma | Crypto Royals:
Second question from twitter

Currently, projects are continuously attacked by hackers. That is the nightmare of many projects. So, what is your strategy to anticipate hacking possibilities on your platform? What plan do you have in order not to let FEG get hacked and cost investors?

From @holdtodie22

RTRcrypto 🇺🇲:
We are partnered with a white hat hacking security organization that has run multiple penetration tests on all of our sites

We have been migrating our sites to new servers to combat DDOS attacks and much more secure

We have a whitelist system to guard against flash loan attacks. You can check out the solidity finance audit of FEG for more information on our security too

Aryan Soni | Crypto Royals:
Third question from twitter

What is your background and how did you come to the idea to create your project? How many partners are there in your project? And the benefits that these partners bring to you and vice versa?

From @kalavat3

RTRcrypto 🇺🇲:
Our lead Developer FEGrox has been in crypto for over 10 years now, he as you can see with our utility is an amazing blockchain coder.

Our DEV team was initially made up of 4 very seasoned developers and about 6 weeks in FEGrox added 4 more developers to our team

Many of the admins have years in crypto and have multiple real life relationships with many prominent figures in the crypto space

Aryan Soni | Crypto Royals:
Fourth question from twitter

Imagine that so many crypto people/community actually eager to know more about #FEGtoken project. But their English is not so good. Regarding on this issue, what is FEGTOKEN plan to engage this people/community?

From @watsons001

RTRcrypto 🇺🇲:
If you go into the main telegram @FEGchat and type /languages you will see our bot present you with an extensive list of language chats dedicated to FEG.

As I mentioned before I run a global admin chat so that I can answer questions from each group and give out up to date information shared by said admins.

We also host many AMA sessions in the other language chats with the use of a translator

We also have a list of 21 languages currently being added to our FEGtrack application

Aryan Soni | Crypto Royals:
Fifth question from twitter

What do you think about the full potential of NFTs and digital arts, many project just have it as a token of symbolic value. How important is the NFT in #FEG. What is their role in platforms and games?

From @ayesha__hs43

RTRcrypto 🇺🇲:
We have a very close relationship with FOMOlabs

We are actually in discussion with them about the NFT DROP for FEG.

There are a few ideas for implementing the NFTs for certain functions but I won't spoil the drop with that just yet

Aryan Soni | Crypto Royals:
Sixth Questions from twitter

Could you explain to us in simple terms what is the purpose of FEG ? What is the strongest advantage that you think will make this team lead the market? How will you attract investors and build the trust and win the hearts of millions of people in your project?

From @machinexzx

RTRcrypto 🇺🇲:
As I mentioned before our exchange is built to provide multiple paths to passive income with tremendous return

Currently fWrap rewards have been 200% APY for fBNB and 120% for fETH

Our staking rewards system as mentioned will be funded by every token ever listed on FegEx and every token that launches on the new SmartDeFi platform

Our project is the truest form of community owned in that our exchange benefits all users

The strongest advantage we have would be a combination of our amazing community, DEV team, Admin Team, MOD team, charity relationship with PASA found at PASA.org

And the continued vision and ability to grow and expand with the ever changing market

• live Questions

1).Edward:
In recent years, technologies around the layer 2 #blockchain, solutions have developed dramatically. How does #FEG Token fit into the boom of layer 2 networks? What makes it unique and different from all other platforms of this type?
@RTRcrypto
@ste_cha

RTRcrypto 🇺🇲:
Our DEV TEAM is well aware of updates and is currently updating and will continue to update all smart contracts to perform optimally on each block chain utilized on FegEx

2).Jade:
⭕The FEG token won't have a pre-sale, but will have public sale? If don't how will you spread your token between the community members?

RTRcrypto 🇺🇲:
There was no presale and no team given tokens it was a fair launch

Ste Cha:
Everyone is equal at FEG token ❤️🦍

3).Bilha:
⚡Ambassadors play an important role in achieving the goals of each project. Do you have a Global Ambassador Program? If Yes, how can I Participate and become an ambassador?

Ste Cha:
We are a non political inclusive community for everyone all around the world 🌎 as we want to literally “FEED EVERY GORILLA”

All you have to do is invest and become one of the FEGarmy 🦍🦍

4).ALEX:
Your foundation idea is very new, so it takes a lot of formula and takes a long time to develop. This must have a tricky point for you? Do you agree that the strength of the community will lead your project to grow globally?

RTRcrypto 🇺🇲:
We are already global and will continue to expand with the amazing communities around the world

5).Crypto world🌎🌍:

FEGToken is a great project..but Does the FEG TOKEN has any COIN BURN SYSTEM???

Ste Cha:
We burn 🔥 tokens on every buy and sell as explained in the post ! 1% approx goes to the burn address

Thank you