FEG Token


SmartDeFi tokens are 100% asset-backed!
Every SmartDeFi token is fully backed by its base asset, guaranteeing a baseline value that is secured from suffering loss.
The base asset of a token is the asset it is traded against, such as BNB or ETH. A set percentage of every buy and sell is given to the asset-backing pool which is secured inside the SmartDeFi token's smart contract. This results in a perpetual increase of the SmartDeFi token's baseline value - even when tokens are sold, thus forming a guaranteed minimum value per token that cannot decrease.
The asset-backing can be recovered instantly by burning SmartDeFi tokens for their share of asset-backing. When SmartDeFi RFI-based tokens burn for their backed asset, it creates a “black hole” that burns more and more tokens automatically and effortlessly over time. Burned tokens forward their backing from now on to the remaining tokens, increasing the backing per token faster. This guarantees that every SmartDeFi token will always have value, regardless of the market price!
SmartDeFi also helps to eliminate pump-and-dump schemes as a transparent baseline value means that buyers know what the risk ratios are even before trading.

How To Burn For Backing Asset


Step 1: Pick the token on which you want to use the SmartTools

Step 2: Choose the "Backing" tab

Once you have selected the token you want, you will be presented with two options called "Backing" and "SmartLending," both are VERY different so DOUBLE CHECK in which menu you are in. The option called "backing" allows you burn/destroy your SmartDeFi token in exchange for the fBNB/fETH that backs each token.
Burning for backing is NOT reversible, your token will be gone and unrecoverable!
So once you're decided on how much of your token(s) to burn, simply type the number in the "balance" field and click the "Burn for backing" button.
You will now receive a warning from the system notifying you that you're about to burn your tokens in exchange for their backing amount, click "confirm" to continue and then also confirm the transaction dialog which will appear from your wallet regarding the gas fees. Example: You have a token whose market price is 10BNB per token and it has a backing value of 2BNB. If you decide to burn one of the said tokens for the backing amount, you would receive 2BNB. 1 such token, you will receive the backing amount for that token, which in this case is 2BNB and NOT the 10BNB which would be the market price.