FEG Token

Previous SD Projects

Document Last Updated September 22nd, 2023
The previous SmartDeFi projects were affected by an exploit that, for some, resulted in a complete loss of LP funds. For most projects, FEG, with the assistance of PeckShield, was able to pause trading, locking the LP within the contract.

Reimbursement for SD projects with lost LP

For projects with completely lost LP, over time, the FEG project will accumulate funds to reimburse the investors of said projects: - We've already integrated new trading taxes that can be used for LP generation - FTW (P2P) Limit-Order platform will have the option of transaction or subscription fees - Projects launched on the new SmartDeFi Launchpad will send us a marginal trading fee - Once traffic on the Aggregator permits, we will look at monetization options
We will start gathering the needed funds after completing the urgent LP loan repayment.

Returning funds for SD projects with locked LP

The FEG Team has worked extensively on the exploit replication contract and building a program that pulls all of the data from the blockchain for each project, organizing said data manually for months.
We have completed the replication contract at this point; what is left is to build a front-run prevention method so that when the contracts are unlocked for trading, we minimize the risk of being front-run by exploiters, of which we have proof they're constantly looking for ways to get access to the funds.
FEGrox has made several successful recoveries during testing, currently, he is working on minimizing the fees that it will take in order to recover funds through the flash loan process of recovery.
We need to build the migration/distribution tool for each project which will be done as soon as the means for FEG Migration are complete and work on the Presale & Staking contracts is done.

There will be 2 options moving forward:

1. All investors get their shares back (Default)
Note - Once they get it back, they can reinvest in relaunched projects.
2. Send the liquidity to their new SD project
Note from DEVs - "We will create a migrator where they will have to send the number of tokens. We launch their project and inject liquidity. A contract will hold the LP for X amount of time or straight burn it away."