Plans include updated FEGtrack, staking rewards, exchange-less buying and selling, and more.
What is FEG?
Feed Every Gorilla (FEG) announced a new roadmap July 11 detailing plans for the Decentralized Exchange (DEX) for the next nine months.
Good morning #FEGfamily and beyond!
— FEG (Feed Every Gorilla) (@FEGtoken) July 11, 2022
As you start your day with a ☕️ why not check out our new #roadmap too 👍❤️🦍
READ HERE: https://t.co/6VEYPt0Dqk#FEG #Future #DeFi #AVAX #FTM #BSC #ETH #Superman #4Chan #Polygon pic.twitter.com/WZlj3mclnT
Built to redesign the structure of Decentralized Finance (DeFi), the FEG Ecosystem comprises the FEG Exchange (FEGex) and SmartDeFi, according to its whitepaper. The FEG token is a hyper-deflationary governance token within the FEG ecosystem.
Outlook Through Q1 2023
Let’s take a look at some of the things you should expect from the project, according to its new roadmap:
Q3 2022
- Updated FEGtrack: FEGtrack is a tool within the FEG ecosystem that allows users to track their investments on the platform. With the new upgrades, users of the FEGtracker now have access to FEG balance and rewards, enhanced charting visuals, live transactions, and 24hr volume data.
- Redeem staking rewards: Before the end of September, FEG plans to update and audit its current smart contract to allow its users to redeem staking rewards.
- New token contract: FEG plans to develop a new unified SmartDefi 2.0 token (SD 2.0). The objective of the new token is to allow the project to focus on just one token instead of multiple tokens across multiple chains.
Q4 2022
- FWT Technology Launch: Known as “From the Wallet,” the FTW is a parallel asset waiver technology that will facilitate peer-to-peer buying and selling of crypto assets without an exchange.
- Launch of an Aggregator: FEG intends to launch a custom aggregator which will pull data from multiple DEXes to help users make better price decisions.
- Launch of the SD 2.0 token: Following the development of the SD 2.0 token in Q3, the token will be launched and be sent off for migration before the end of the year.
Q1 2023
In the coming year, FEG intends to release its FTW technology on Avalanche, Fantom and Polygon. It also wants to explore listing its FEG token on popular centralized exchanges.
What is Feed Every Gorilla:
FEG explains the main idea behind its token is to provide a decentralized transaction network that operates on the Ethereum and BNB Chains. A hyper-deflationary token, FEG has a maximum circulating supply of 100 quadrillions on both the chains above, including 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 is keen to stress that there is no burn limit, and with this being the case, users will enjoy a ‘never-ending cycle of passive income with positive price pressure.
Where to Find FEG:
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This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News
Prisma Finance Reportedly Hit by $9M Hack: What to Know
Prisma Finance paused its protocol operations for investigation and advised vault owners to disable delegate approval.
Reports have emerged indicating that DeFi platform Prisma Finance, fell victim to a hacking attack amounting to approximately $9 million. Cyvers, a web3 security platform, raised the alert after it detected suspicious transactions linked to the breach.
🚨UPDATE🚨Our system has detected multiple suspicious transactions with @PrismaFi and still ongoing!
— 🚨 Cyvers Alerts 🚨 (@CyversAlerts) March 28, 2024
Total loss so far is around $9M. Attacker has funded by @FixedFloat!
Our system has detected the malicious contract 2 min earlier than hack transactions!👇
Our system would… https://t.co/9myoV8DL22 pic.twitter.com/SxT5yYZy7U
Initial estimates suggest a loss of $9 million, with the attacker reportedly utilizing funds from the crypto exchange FixedFloat.
Backing up Cyvers' findings, blockchain security firm PeckShield has confirmed the attack, providing details on the assets targeted by the hacker. Among the stolen assets are Prisma mkUSD and wrapped stETH.
In response to the breach, Prisma Finance issued a statement on X acknowledging the potential exploit. The project reportedly halted its protocol operations to conduct a thorough investigation into the incident.
Additionally, Prisma Finance advised vault owners to disable delegate approval as a precautionary measure.
We are aware of a possible exploit on Prisma.
— Prisma Finance (@PrismaFi) March 28, 2024
Core engineering contributors will pause the protocol and investigate.
We'll share an update and a post-mortem.
From DeFi Future to Security Concerns
Prisma Finance was initially hailed as the future of decentralized finance (DeFi), offering solutions in the form of a new LSTFi protocol. It enabled users to mint a fully collateralized non-custodial and decentralized stablecoin, mkUSD, using Ethereum liquid staking tokens (LSTs) as collateral.
However, the recent exploit paints a stark contrast to the platform's previous reputation, raising concerns regarding cybersecurity in the DeFi space.
Rising Trends in Crypto Hacks
The hack on Prisma Finance adds to a concerning trend in the cryptocurrency space. According to a Feb. 29 report by blockchain security firm Immunefi, over $200 million worth of cryptocurrency was lost to hacks and rug pulls last February, across 32 individual incidents.
This represents a 15.4% increase compared to the same period in 2023. Ethereum remains the most targeted blockchain, with 12 attacks accounting for over 85% of the total value lost in February.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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