FEG is merging its ecosystem tokens in preparation for the rollout of its new SmartDeFi ecosystem.
FEGtoken will soon be merging with ROX token in preparation for the Q4 2022 rollout of FEG’s latest iteration of its SmartDeFi ecosystem.
ROX token, used initially to launch asset-backed tokens, and the FEG token, the main token for the FEG ecosystem, will be merged to simplify the ecosystem while adjusting tokenomics, according to FEG’s website.
“The commonality of the entire ecosystem is that it will revolve around the new (FEG) token and provide a number of passive income streams while staking,” explained RTRcrypto, Global Project Manager of FEG, in a BSC News interview.
The new expanded ecosystem is currently in late-stage development according to FEG team members. Recently, the Beta version of the DEX and other components of the ecosystem were taken offline for additional development and third-party auditing.
Components of FEG’s SmartDeFi ecosystem include:
FEG Token: the governance token for the project for the ecosystem, which can be staked by holders to collectively earn 2% of network transactions. FEG tokens are and will continue to be on both the Ethereum and Binance Smart Chain (BSC) blockchains.
FEG will also be reducing the total amount of tokens to “make FEG more attractive for investors and CEX’s” as noted on FEG’s website. When tokens are migrated, users will receive the same percentage of circulating tokens they have now.
FEGex Decentralized Exchange (DEX): Located at Fegex.com, the FTW DEX will allow users to trade directly between wallets without giving up control of their assets.
Custom Aggregator: The custom aggregator will run alongside the DEX and connect to multiple external DEXs to fetch the best price for a given trading pair.
“Note that the aggregator will have fees of the DEX that the purchase or sale is routed through, yet there is no fee that comes to our ecosystem from it,” remarked RTRCrypto.
SmartDefi (SD) Launchpad: A tool for creating new tokens on the BSC or Ethereum blockchains. This will include an asset backing function where, when an SD token is created, a separate token can be chosen as its backing asset (e.g. BNB).
FEGTrack: A mobile app created for FEG holders to monitor their BSC staking assets and values.
Grafene Wallet: the Grafene wallet incorporates two-factor authentication (2FA) directly on the blockchain, making it much harder for attackers to steal funds even if they have a wallet’s private key.
After internal testing is completed for the various SmartDefi products and services, third-party auditors will review all smart contracts for the new ecosystem, RTRCrypto told BSC News.
FEG token holders will find the migration tool at fegtoken.com when it’s ready, while ROX token holders will have the new tokens airdropped to them.