FEG Token

FEG migration to SmartDeFi Token

Document last updated: Dec. 13th, 2022.
We were given an opportunity to elevate the entire project based on an improved version of SmartDeFi with quite a few new features, and we also reworked the tokenomics to add a tax for marketing in order to make the project known all across the world.
While FEGtoken undergoes upgrade to V2, you may still trade the current FEGtoken on any DEX or CEX which currently holds it. We recommend buying and selling FEG token on the following Decentralized exchanges:
You may choose to hold your tokens or actively trade (buy/sell) your FEG tokens.
If you are waiting for the migration, simply hold your tokens in your wallet and bring them to the migration tool when migration is ready. Not Financial Advice: Keep in mind that there is currently a 2% buy/sell tax and Post-Migration there will be a 4.5% buy tax and a 5.5% sell tax.
We will reduce the total amount of tokens to make FEG more attractive for investors and CEX's.
With a decrease of the total number of tokens, you will receive less tokens from the migration tool but they will still be the same percentage of ownership
If you owned 1% of of the FEG total supply before migration, you will own 1% of the total supply for the New token after migration.

Ratio of FEG v1 to v2 tokens

Your FEG value will remain the same after migration, so if all your FEG is worth 70$ exactly before the migration, then right after migration it will still be worth 70$. The total new supply after migration will be 100 billion tokens, as opposed to the 100 quadrillion that it is now. This means the new supply will have minus 6 zeroes compared to now, but the price per token will also have minus 6 zeroes, so you don't lose anything in terms of value. How many tokens will you have after migration? Quick math, remove 6 zeroes from the current supply: 1Q = 1B 100T = 100M 10T = 10M 1T = 1M 100B = 100k 10B = 10K 1B = 1k 100M = 100
No, V2 you do not need to unstake in order to migrate your tokens.
The FEG team is looking into a way to migrate V1 without having to unstake. Note: if no method is found, v1 stakers will have to unstake. Full migration details will be posted ahead of time when we know when is the start of migration.
The SmartDeFi 2.0 contracts are under development and will go through 3rd party audit. When this is complete we will push out the migration tool and re-launch as a Hybrid token for FEG & ROX.
For FEG Token & ROX Token holders will migrate manually using a custom built migration tool built by the FEG Team.
Please see the FAQ - ROX Allocation section for the ROX token vesting period details.
Swap your current FEGtokens for the new Hybrid token when the migration tool is live.
There will be no time limit for those needing to migrate over so do not fear missing the migration.
We are reworking and auditing a complex ecosystem, it takes a massive amount of work and time (e.g., development, testing, and auditing).
You will be able to migrate any time after the start of migration.
We will inform and work together with the CEX's currently holding FEG.
We will likely airdrop the Hybrid token to the CEX's in order to provide an easier experience working with our project.
The safest place for your tokens is in a wallet that you hold the keys to and have made sure those keys are safe.
DO NOT connect your wallet to sites that you are unfamiliar with.
DO NOT give out your seed phrases to anyone and do not take them out nor show them in the settings of your wallet if you are in a public place.
When we migrate to the new token, we will be maintaining the current ratio of circulating supply to burned supply.
The difference is we will need to keep roughly 10% of the burnt supply unlocked in order to integrate ROX Token holders into the new FEG token over the TBD vesting period.
The FEG Team will speak with the community about possibly using a small percentage of the supply for CEX listing or other necessary functions, nothing has been decided yet.