Many of our newest FEG holders will have many of the same questions, here is a list of common questions
Q. What is the tokenomics of FEG?
A. FEG is a deflationary token on both the Ethereum and Binance chain where there are 400 quadrillion tokens in circulation on each network. When a purchase or sale of this coin is made, 1 percent of the sale is distibuted proportionately to anyone holding the token. Also 1 percent of the token is “Burned” or sent to a dead wallet, essentially taking it out of circulation.
Q. Which chain is better? ETH/FEG or BSC/FEG?
A. The answer depends on how you want to invest in the token.
ETH/FEG: half of the 400 quadrillion coins were burnt during the inception of the project and a 12 day headstart.
Eth has many established project partnerships to farm and stake in conjunction with feg in the future, however the gas fees to exchange FEG with Ethereum can be considerably high, from $40 – $200 depending on the time of day.
BSC/FEG: the entire 400 quadrillion tokens were placed into circulation the moment it was announced.
The Binance network has expansive projects to partner with and a much faster and cheaper network. Exchange fees are only a few cents but it needs to be mentioned that many in the US will find it hard to obtain BNB without a vpn.
Q. My purchase wont go through on uniswap.
A. Change the slippage to 3%
Q. Whats the deal with the logo?
A. The idea to feed all gorillas and the Gorilla head comes from the community and how we see ourselves as apes helping each other in this brand new crypto space. Its also a gorilla with sunglasses, I mean how much cooler can a logo get?
Q. How do you get the rewards?
A. Once you have FEG in your wallet, the rewards generated by the community are AUTOMATICALLY sent to you in real time! Yes, if you close your wallet and open it again in a few minutes you’ll have more FEG!
Q. What is “burning” and what is the black hole all about?
A. When a transaction is made with FEG, 1% of this tranaction is sent to a dead wallet. This means that the wallet cannot be accessed and any FEG sent there is lost forever, or “sent to the black hole”. This leaves less and less of the token making what is in circulation much more valuable.
Q. Why so many tokens? 4 quadrillion seems a little much!
A. Because the token is deflationary, meaning less will exist over time, having many tokens allows for plenty of growth and development of the tokens economy before scarcity makes investors horde the token. This coin only works if investors are willing to use it, allowing the distribution to play out.
Q. Is this a scam?
A. No. At this point this coin has proven itself to not be a scam. The project was audited by an independent watchdog group called war on rugs at the inception of the coin, $250,000 was locked for a year toward liquidity. The development team has given away all rights to the token to the community. The development team themselves interact with the community regularly. Working beta versions of announced products are distributed to the community to test. The difficulty of getting this token has also brought the community together as we teach newcomers how to invest.