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In FEG Token, what is the fWrap function?

The fWrap Deployer adds value to tokens that would not otherwise be capable of such high APYs.

The fWrap and Smart DeFi

With only a week until the new Smart DeFi capability launches on the Feed Every Gorilla (FEG) Token ecosystem, we’d like to take a look at one of FEG’s most popular features. The FEG Wrap (fWrap) feature enables users to start earning rewards on tokens that would otherwise be ineligible.

Users can wrap cryptocurrencies and generate passive revenue using the fWrap Deployer on the FEG Exchange (FEGex). Wrapping is available for BTC, ADA, DOGE, XRP, LTC, USDT, and other tokens and coins.

On February 4, FEG Designer Pluto went so far as to offer the idea to Binance CEO on Twitter. Pluto emphasises the enormous potential that a fWrap function may have on a platform like Binance.

“Add Binance’s #fwrap function.” Allow people to simply make a passive income from any BEP20 token that isn’t reflective,” Pluto stated. “For example, fBNB had a 30% APY the last time I checked.”

The fWrap system, which encourages users to provide liquidity to the FEG ecosystem to assist bootstrap new farms and pools, is open to all tokens that list on FEG. Although the fWrap feature is frictionless, it does come with a 1% cost when wrapping and unwrapping. This 1% is reallocated to all holders of that exact fWrap, hence increasing the hodler’s passive income.

Many of the largest tokens and coins in the crypto sector do not have APYs over 10%. BTC, ETH, DAI, BNB, and other cryptocurrencies show higher APYs when wrapped in FEG, but there is no extra risk. This is an opportunity to earn APYs that are usually allocated for LP pairings in single staking chances. Goodbye, inconsequential loss!

On February 15, the FEG Smart DeFi system will be unveiled in its entirety. So, what exactly are you waiting for? FEG brings it to a close!

What is the purpose of Feed Every Gorilla?

The fundamental idea behind FEG’s token, according to the company, is to establish a decentralised transaction network based on the Ethereum blockchain and the Binance Smart Chain. FEG is a hyper-deflationary token with a maximum circulating supply of 100 quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadrillion quadr A 2% transaction tax is dispersed to all holders according on their ownership percentage, including the burn wallet, which functions as a holder that gathers tokens over a period of time during which transactions occur. The team is quick to point out that there is no burn limit, and that users will be able to enjoy a ‘never-ending cycle of passive income with positive pricing pressure’ as a result.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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