The future of DeFi starts with eliminating conspiracies like rug pulls and pump and dumps

It’s not breaking news that decentralized finance (DeFi) is growing and has a rapidly expanding ecosystem to match. As the number of blockchain-based financial products continues to expand, replicating the ability of traditional institutions, the only thing standing in the way of the technology is mainstream adoption. Part of the reason for the difference in usage and adoption is that people have only now begun to understand the cryptocurrency space. All in all, mass adoption is not a question of if, but a question of when.

In this space, many platforms and exchanges are emerging, although there is still some work to be done. Every project with a good mission is accompanied by a series of scams designed to defraud honest investors of their money. When news of these rug pulls and other project scams caught the media's attention, many were quick to sympathize with investors who had just been drained of their money. Even with due diligence, it can be difficult for investors to spot these scams ahead of time or, for a novice investor, to invest in the first place.

To solve these problems, Feed Every Gorilla (FEG), a community-driven platform, was born. In FEG's ecosystem, FEG Exchange (FEGex) is a decentralized exchange (DEX) running on the Ethereum (ETH) blockchain and Binance Smart Chain (BSC) to resolve issues around rug pull and Destructive issues with other project scams. By using a new technology called "SmartDeFi", FEG aims to give everyone a fair chance to achieve financial freedom by earning passive income.

FEG's chief marketing officer Chris shared: "Like FEGrox, who is suspected of Satoshi Nakamoto, he is a pioneer of DeFi with forward-looking thinking. FEG will further enter the cryptocurrency field and release more and more innovative products together with SmartDeFi." , while maintaining a strong sense of community and love for all projects in the cryptocurrency space.”

basic situation

FEG was formed in January 2021 at a time when some of the largest scams and institutional adoption of digital currencies occurred. As such, one of the toughest challenges in creating the platform was instilling confidence and trust in the digital currency space and ensuring that users can actually “feed every gorilla” with FEG tokens. In this case, the gorilla could be everyone, including you and me.

The team has since worked on combining DeFi with SmartDeFi, which will eliminate rug pulls and pump and dump schemes. SmartDeFi makes this possible because its trading system is not hosted by a third party, it is self-contained and does not require external functions to operate.

According to the team, since all tokens hold their own liquidity, rug pulls are impossible, as any token listed on SmartDeFi should have asset-backed collateral value. The ROX token has since become the first token to utilize the SmartDefi infrastructure, offering investors the opportunity to buy and sell the token directly.

Additionally, security, accessibility, and opportunities to earn rewards will be passed on to project leaders, who will also have the opportunity to experience DeFi in its truest form by listing their tokens on FEGex.

Leaders and investors are confident thanks to the team's lead developer FEGrox. FEGrox is a trusted blockchain technology expert with over 10 years of experience. His work directly helps the development of DeFi infrastructure, advancing it in the best and safest way, while helping to expand the development of FEG token.

growing day by day

With growing potential, the popularity of the FEG token continues to grow, as evidenced by a 1900% increase between March and June 2021.

Besides being part of a growing community, holding tokens provides users with several other benefits. The FEG token is a hyper-deflationary token with a maximum circulating supply of 100 trillion on Ethereum and Binance Smart Chain. The 2% transaction fee is allocated to token holders according to their proportion of ownership, this relationship is inversely proportional, constitutes a supply and demand pattern, and rewards those who are willing to hold for a long time.