tg-me.com/fegtoken/504
Last Update:
We are pleased to share the detailed transcription of our recent team meeting held on October 22, 2023
SD Protocol Fee Discussions (SD related):
- Desired system fee percentage?
- Proposed: 0.5% Total Fee
- Initial and future allocation plans for the collected fee?
- Staking: 0.1%
- Asset-Backing: 0.1%
- Growth Fund: 0.1%
- LP Injection: 0.2% (Until LP loan is repaid, re-allocation TBD)
Loan Repayment Strategies:
- New developments for expedited loan repayment?
- LP Injection Tax (FEG Trading): Buy Tax = 1%, Sell Tax = 2.5%
- SD Protocol Fee: 0.2% (Applied to every buy & sell across all SD projects)
- Presale Tax: To be decided (Will be directed entirely to LP loan until repaid, then reallocated)
- FTW Fee: To be decided (Fee to be distributed among all FEG Tokenomics Taxes, including LP loan)
- Aggregator Fee: To be decided (Fee to be distributed among all FEG Tokenomics Taxes, including LP loan)
Ecosystem Development:
- Update on the first iteration of SmartDeFi (locked liquidity) LP recovery contract?
- Status: Completed, final testing in progress.
- Progress on SmartDeFi Token Launchpad?
- Next Testing Phase: To commence next week, followed by a brief audit to ensure code remains fully audited.
- Subsequent Steps: Initiation of Presale Contract Development once the SmartDeFi Launchpad audit for subtle changes is underway.
- Prioritization: FTW & Aggregator will be prioritized post completion of the above tasks.
- Chain Expansion: Exploration of ecosystem tools chain expansion (excluding FEG Token) to commence post completion of listed tasks.
Dev Team Current Tasks:
- Comprehensive Directory: A directory of all SD tokens launched is in the works.
- Project Profiles: Individual detailed profiles for each SmartDeFi project are being created, with charting akin to what FEG offers.
- Token Information: Provision of specific information on each token such as LP, price, backing, and more is being organized.
- Wallet Connectivity: Development of a feature to view the value of each SD held via wallet connectivity is ongoing.
- SD Deploy Alerts: Work on a system to receive notifications from our API for new project launches is in progress.
- Real-time Deployments: Efforts to provide real-time updates as projects go live instantly are ongoing.
- Enhanced SmartDeFi Recovery UI: Although already functioning seamlessly, a few more refinements are to be added before launch.
Passive Income Structures:
- FEG Staking Rewards from Tokenomics Tax?
- Buy Tax: 1%, Sell Tax: 2%
- SD Protocol Fee towards FEG Staking?
- Set at 0.1% (For every buy & sell across all SD projects)
- Presale Tax, FTW Fee, and Aggregator Fee?
- Status: To be decided (TBD), with distribution structures in deliberation.
Increasing Burn Strategies (TBD):
- Potential measures discussed?
- Partial application of SD Protocol Fee and Presale Fee.
- Initiation of Buy & Burn following the launch of SD Staking Protocol by SD Projects.
- Future Discussions: Potential staking of a FEG Burn Wallet, with entire staking rewards to be burnt, pending adequate volumes and rewards.
Management of Additional “FEG” Wallets/Tokens:
- PASA Wallet: discussion on reallocation of roughly 57M tokens.
- FEG Faucet Wallet: discussion on reallocation of roughly 27M tokens.
- FEG Project ROX Tokens: Discussion on allocation of 100 ROX on each chain (Converting to FEG Token, subject to conversion time-frame), with options including VC & CEX funding, Burn Wallet, Charitable Donations, and Marketing Campaigns.
Migration Timeline:
- Current Status: No deadline set due to a substantial number of tokens pending migration; the bear market has rendered many crypto holders inactive.
- Future Updates: Community will be notified well in advance if any changes to this stance are made.
FEG TG Channels:
- Transition Plan: Over the next few weeks, the team will transition to utilizing FEGtoken.com Online Support, pausing FEG Support to provide enhanced 1-on-1 support online as team training progresses.