FEG (Feed Every Gorilla)

📣 Staking Protocol Restructuring for FEG Begins Today!

Dear FEG Community,

Today is the 19th, and we are thrilled to announce that our major restructuring of the staking protocol is now going into effect.

FEGrox is preparing to pause the protocol and transition staking to the following plan 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 today, June 19th. Staking will be paused on each chain for a few hours during the upgrade. This pause will not affect trading.
- Reward Withdrawal: The option to withdraw rewards by June 18th has now passed. Any remaining rewards will be auto-converted to FEG and redistributed to the staking contract for 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
💪🦍❤️

www.tg-me.com/us/FEG Feed Every Gorilla /com.fegtoken/581

5.2K viewsJun 19, 2024 at 14:48

📣 Staking Protocol Restructuring for FEG Begins Today!

Dear FEG Community,

Today is the 19th, and we are thrilled to announce that our major restructuring of the staking protocol is now going into effect.

FEGrox is preparing to pause the protocol and transition staking to the following plan 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 today, June 19th. Staking will be paused on each chain for a few hours during the upgrade. This pause will not affect trading.
- Reward Withdrawal: The option to withdraw rewards by June 18th has now passed. Any remaining rewards will be auto-converted to FEG and redistributed to the staking contract for 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
💪🦍❤️

BY FEG (Feed Every Gorilla)