FEG (Feed Every Gorilla)

📣 Announcement: Staking Protocol Restructuring for FEG!

Dear FEG Community, We Heard You!

We are thrilled to announce a major restructuring of our staking protocol, designed to create positive buying pressure for FEG and drastically reduce overall staking costs!

Key Changes:

1. Positive Buying Pressure: The new staking model will continuously purchase FEG rewards on the market using a custom fee converter, increasing demand and potentially driving up FEG’s value.

2. Simplified Staking Model: Exclusively for FEG, this model will focus on earning rewards solely in FEG tokens, making staking more straightforward and cost-effective when staking or claiming rewards.

3. Adjusted Reward Share: The fee for SmartDeFi project investors entering token staking pools will be reduced to 0.5% (down from 1%), benefiting both SmartDeFi token stakers and FEG stakers.

The FEG Staking Tokenomics Tax of Buy/Sell at 1.3% remains unchanged.

Transition Details:

- Upgrade Date: The staking protocol will be upgraded on Wednesday, June 19th. Staking will be paused on each chain for a few hours during the upgrade. This pause will not affect trading.
- Reward Withdrawal: Stakers wanting to keep their current rewards will need to withdraw their current rewards by Tuesday, June 18th. After this, any remaining rewards will be converted to FEG and sent to the staking contract and distributed over time to all stakers.

Thank you for your continued support. We are confident these changes will enhance the staking experience and benefit all FEG holders.

Best regards,

The FEG Team
💪🦍❤️

🐦 Support the Official X-Post!
https://x.com/FEGtoken/status/1802274036392886495?s=19

www.tg-me.com/us/FEG Feed Every Gorilla /com.fegtoken/577

11.1K viewsJun 16, 2024 at 09:38

📣 Announcement: Staking Protocol Restructuring for FEG!

Dear FEG Community, We Heard You!

We are thrilled to announce a major restructuring of our staking protocol, designed to create positive buying pressure for FEG and drastically reduce overall staking costs!

Key Changes:

1. Positive Buying Pressure: The new staking model will continuously purchase FEG rewards on the market using a custom fee converter, increasing demand and potentially driving up FEG’s value.

2. Simplified Staking Model: Exclusively for FEG, this model will focus on earning rewards solely in FEG tokens, making staking more straightforward and cost-effective when staking or claiming rewards.

3. Adjusted Reward Share: The fee for SmartDeFi project investors entering token staking pools will be reduced to 0.5% (down from 1%), benefiting both SmartDeFi token stakers and FEG stakers.

The FEG Staking Tokenomics Tax of Buy/Sell at 1.3% remains unchanged.

Transition Details:

- Upgrade Date: The staking protocol will be upgraded on Wednesday, June 19th. Staking will be paused on each chain for a few hours during the upgrade. This pause will not affect trading.
- Reward Withdrawal: Stakers wanting to keep their current rewards will need to withdraw their current rewards by Tuesday, June 18th. After this, any remaining rewards will be converted to FEG and sent to the staking contract and distributed over time to all stakers.

Thank you for your continued support. We are confident these changes will enhance the staking experience and benefit all FEG holders.

Best regards,

The FEG Team
💪🦍❤️

🐦 Support the Official X-Post!
https://x.com/FEGtoken/status/1802274036392886495?s=19

BY FEG (Feed Every Gorilla)