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 fBNB or fETH. 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 tokens burn for their backed asset, it creates a β€œblack hole” that burns more and more tokens automatically and effortlessly over time. Burned tokens forward their backing 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.
Since all SmartDeFi tokens are based on fWrap technology, their market price even rises when there is zero (0) volume. The fWrap rewards on backing asset go to the market liquidity pool.

How To Burn For Backing Asset


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

Step 2. Choose Tab "Backing",

Once you have selected the token you want, you will be presented with two options called "Backing" and "SmartLending", both are VERY different so be extra careful what you do next and in which menu you do it, or you might just be crying later. The option called "backing" basically 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, destroyed, finished, exterminated!
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: Say you have a token whose trade value is 10BNB per token and it has a backing value of 2BNB. If you decide, for whatever reason, to burn 1 such token, you will receive the backing amount for that token, which in this case is 2BNB. Ok, so this is very important, you will always receive only the backing amount for burning a token, NOT the trading value (which in this example is 10BNB), keep that mind.