Many platforms and exchanges have continued to pop up in this space, although some work still needs to be done. For every project with a good mission comes a series of scams looking to take honest investors' money. When news of these rug pulls and other project scams catch the media's eye, many are quick to sympathize with the investors who have just had their money drained. Even with due diligence, it can be hard for an investor to catch these scams in advance or for a novice investor to invest, to begin with.
Rising to address these concerns is Feed Every Gorilla (FEG), a community-driven platform. Within the FEG ecosystem is the FEG exchange (FEGex), a decentralized exchange (DEX) running on the Ethereum (ETH) blockchain and BINANCE Smart Chain (BSC), to solve the devastating issues around rug pulls and other project scams. By using a new technology called “SmartDeFi,” FEG aims to provide everyone with a fair opportunity to achieve financial freedom by earning passive income.
The chief marketing officer of FEG, Chris, shares, "with the suspected Satoshi Nakamoto -- FEGrox -- spearheading DeFi and a forward-thinking mindset, FEG will advance further into the cryptocurrency space by releasing increasingly innovative products alongside SmartDeFi while maintaining a strong sense of community and love for all projects in the cryptocurrency space."
Back-end basics
FEG was established in January 2021, amid some of the largest scams and institutional adoption of digital currencies. Therefore, one of the most plaguing challenges faced in creating the platform was instilling confidence and trust in the digital currency space and ensuring users that the FEG token could, in fact, "feed every gorilla." In this context, gorillas are every human, including you and me.
The team has since devoted their efforts to bringing DeFi together with SmartDeFi, which would eliminate rug pulls and pump and dump schemes. SmartDeFi makes this possible since its trading system is not hosted by a third party, is self-contained and requires no external functionality to operate.
Since all tokens hold their own liquidity, rug pulling is impossible to occur, according to the team, as any token listed on SmartDeFi would supposedly have guaranteed value with asset-backing ability. ROX Token has since become the first token to utilize the SmartDefi infrastructure, providing investors with the opportunity to buy and sell the token directly as a “model home.”
Furthermore, safety, accessibility, and opportunity for reward are passed down to project leaders who also have the opportunity to experience DeFi in its truest form by listing their own tokens on FEGex.
Leaders and investors can have confidence due to the team's lead developer, FEGrox. FEGrox is a trusted expert in blockchain technology with over ten years of experience under his belt. His works are directly helping to evolve DeFi infrastructure by bringing it forward in the best and most secure way possible while simultaneously helping to expand the FEG token.
Growing day by day
With increasing potential on the table, FEG Token's popularity has continued to grow in proportion, as evidenced in its 1,900% increase between March and June 2021.
In addition to being a part of a growing community, holding tokens provide users with several other benefits. The FEG token is a hyper-deflationary token with a maximum circulating supply of 100 quadrillions on the Ethereum and Binance Smart Chain. A 2% transaction tax is distributed to holders of the token in relation to their percentage of ownership, a relationship that is inversely proportional, constituting a supply and demand model and rewarding for those willing to hold for the long haul.
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