The fWrap Deployer gives added utility to tokens that otherwise would not be capable of such high APYs.
Smart DeFi and the fWrap
With just a week before the new Smart DeFi functionality drops on Feed Every Gorilla (FEG) Token’s ecosystem, we want to take a look at one of the top features being offered by FEG. The FEG Wrap (fWrap) feature allows users to begin earning rewards on tokens that otherwise would not allow that.
With the fWrap Deployer on the FEG Exchange (FEGex), users can wrap cryptocurrencies, and earn passive income extremely easily. Wrapping is available for tokens and coins like BTC, ADA, DOGE, XRP, LTC, USDT, and more.
FEG Designer Pluto went so far as to pitch the idea to Binance CEO in a Twitter thread on February 4. Pluto points out the massive potential an fWrap feature could return on an exchange like Binance.
“Add the #fwrap function to Binance. Allow people to easily earn a passive income from any non-reflective BEP20 token,” Pluto wrote. “For example, last time I checked fBNB had 30% APY.”
All tokens that list on FEG have the chance to be apart of the fWrap system, which encourages users to bring liquidity over to the FEG ecosystem to help bootstrap new farms and pools. The fWrap feature is frictionless but requires a 1% fee when wrapping and unwrapping. That 1% is redistributed to all holders of that specific fWrap and in turn, increases the passive income for the hodler.
Many of the largest tokens and coins across the entire crypto industry do not carry APYs over 10%. The likes of BTC, ETH, DAI, BNB, and more see higher APYs while wrapped on FEG but see really no increased risk. This is a chance to be getting APYs normally reserved for LP pairs in single staking opportunities. Good-bye impermeanent loss!
The FEG Smart DeFi system is set to fully debut on February 15. What are you waiting for? Wrap it up on FEG!
What is Feed Every Gorilla?
FEG explains the main idea behind its token is to provide a decentralized transaction network which operates on the Ethereum blockchain and the Binance Smart Chain. A hyper-deflationary token, FEG has a maximum circulating supply of 100 quadrillian on both the aforementioned chains, that also includes an inaccessible burn wallet. A 2% transaction tax is distributed among all holders based on the percentage of ownership, including the burn wallet which acts as a holder that collects tokens over a period in which transactions occur. The team are keen to stress that there is no burn limit, and with this being the case users will get to enjoy a ‘never-ending cycle of passive income with positive price pressure’
Where to Find FEG:
Source : bsc.news
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