Coin Healthcheck: Feed Every Gorilla Token (FEG)
Feed Every Gorilla Token (FEG) is a deflationary governance token of the FEG ecosystem, which incorporates decentralized trade and several other passive revenue incentives.
FEG token is supposed to reshape the working mannequin of decentralized transaction networks.
The token went stay on and Binance Smart Chain networks in early 2021.
State of Project
Aims to supply a decentralized transaction community, which operates on the Ethereum blockchain and the Binance Smart Chain (BSC).
Deflationary token with 100 quadrillions (100,000 trillion) max provide. Burns tokens with every transaction.
Incentivizes holding by distributing a 1% transaction payment amongst holders.
Provides the decision-making rights for decentralized trade FEGex.
Can be used for swapping, staking, creating wrapped tokens, or locking FEGs within the liquidity swimming pools (Uniswap/PackeSwap/FEGex).
Website & Whitepaper:
Provides service description, whitepaper, tokenomics and rewards documentation, audit evaluation, contacts.
Whitepaper supplies an outline of providers however provides no details about the underlying expertise, options or strategies which have been used to develop them.
Beta model of FEGex, a bridge that makes cross-chain swaps attainable between the 2 blockchains.
Direct swapping, staking, wrapping, inside liquidity locking options can be found.
SmartDeFi expertise applied. Makes DeFi rug-proof, reduces fuel charges, higher rewards via frictionless yield.
Further improvement and UI redesign plans for FEGex cross-chain bridge.
Implementation timelines not specified.
Declaration of an upcoming enlargement to , FTM and Polygon blockchains.
100% of liquidity generated via public listings (UniSwap, PancakeSwap, FEGex).
Contradiction on FEG presale data (whitepaper says none presale occurred, official blogpost says 700 BNB price presale achieved on Binance Smart Chain).
Has 19 admins and virtually 30 social media moderators.
The roles of admins usually are not specified.
The complete group cover their identities.
They are all reachable through social media accounts, created quickly after the FEG token launch. The full group checklist is right here.
FEG is the official accomplice of the Pan African Sanctuary Alliance (PASA), an alliance of African wildlife safety facilities throughout 13 international locations.
Token has no enterprise capital buyers.
Huge follower bases on Twitter (NYSE:) (311K), Instagram (141K) and Telegram (131K), Reddit and Discord include decrease numbers (over 13K every).
No official LinkedIn account.
Active communication, posts on achievements, listings, give-aways.
“To the moon” kind communities.
Outside communities customers declare the shortage of strong discussions and blocking for crucial opinion.
Max provide: 100 quadrillion tokens
Circulating provide: 41 quadrillion
Market cap: $358 million
Trading quantity: Typically beneath $10M/24h. Over $200M at worth ATH.
UniSwap, PankaceSwap and different DEXes on each blockchains. Check up the total checklist.
Upcoming itemizing on BitMart CEX. Online analysis warns, an trade is presumably a rip-off, that freezes funds with out explanations and replies from help.
57% of FEG provide on the Ethereum community. 54% on BSC (numbers supplied by official audit).
90K wallets on Ethereum. Almost 74% of them are wallets holding over $3M FEG every.
Over 800K wallets on BSC. Nearly 30 wallets maintain greater than $1M price of FEGs.
Available through Trust Wallet, MetaMask, Binance Chain Wallet wallets.
FEG reached ATH 3 months after launch. Lost over 50% in 10 days since. The token is 80% down from the all-time excessive on the time of writing.
Information right as of 15/11/21
Please see All Time Price Movement right here
The thought of offering a bridge for ERC-20 and BEP-20 token swaps just isn’t new or distinctive. There are a number of initiatives within the crypto area engaged on that.
The challenge has a number of transparency points. Its future improvement plan seems to be summary and has no particular timelines at any time when upgrades will likely be applied. The group behind the challenge is nameless and has extra entrepreneurs than engineers and builders.
Whitepaper provides sufficient data on providers, however nothing in regards to the underlying expertise and improvement. Looks extra like a advertising paper than an precise whitepaper. In the meantime, the challenge actually has massive and lively communities.
Listing on a centralized trade is nearest plans. However, it could be not the respected one and presumably concerned in earlier scams.
With this in thoughts, we stay cautious about treating Feed Every Gorilla Token (FEG) as a sustainable funding.
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