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FUSE has been listed on the decentralized FEG Exchange (FEGex) which is the core element of the FEG Token ecosystem. The initially supported trading pool is FUSE-BNB. Fuse will conduct an attractive liquidity rewards program for the LPs on the pool starting Thursday 11th November at 4 pm UTC.
Fuse’s vision centers around making payments and decentralized finance (DeFi) available to ordinary people worldwide. Hence, the Fuse team is always on the lookout for DeFi projects to integrate with that share the same fundamental outlook.
The Fuse team believes that the integration with the FEG Token project will deliver the very powerful DeFi synergy that is sought.
A decentralized transaction network for making DeFi mainstream
FEG Token is a fast-growing community-governed multichain DeFi platform running on top of Ethereum and Binance Smart Chain (BSC). Its community is committed to redesigning the DeFi ecosystem for mainstream adoption.
FEG Exchange (FEGex) is a cross-chain AMM-based decentralized exchange (DEX) that adds an important twist provided by the fWrapping technology. Thanks to the Ethereum-BSC bridge, FEGex enables cross-chain swaps between tokens on the two chains.
The base tokens of the FEG ecosystem (namely, ETH and BNB for each of the two supported blockchains) always need to be fWrapped. Each transaction that occurs with the fWrapped asset or on any fWrapped base pair results in 1% of the transaction fees paid in these tokens are distributed amongst stakers and all the pools with those tokens on one side, resulting in positive price pressure for the tokens traded against them. The FEGex smart contracts are built to impede frontrunning, which is a major issue in the DeFi space.
FEG Token’s SmartDeFi functionality makes it possible to create tokens backed by fWrapped assets from the onset. Like FEG’s platform token FEG, these tokens are deflationary by design, and their pools’ liquidity is controlled by their smart contracts, eliminating the risk of rug pulls. FEG also provides users with other convenient tools such as the FEGtrack portfolio tracking app and the FEGcharts technical analysis feature.
FEG is the governance token of the FEG Token platform with a fixed total supply. FEG tokens are distributed to FEG holders each time users unwrap fWrapped assets and pay the resulting transaction tax. As the FEG burner wallet is technically a holder, it gets allocated an increasing percentage of FEG supply over time, making FEG a highly deflationary asset. FEG can also be staked, enabling the holders to receive a share of the total dollar value of the trades on FEGex on the relevant blockchain. FEG holders also benefit from a number of other passive income earning opportunities.
FUSE Listing on FEGex
At the first stage of the Fuse — FEG Token integration, Fuse Network’s native FUSE token has been listed on the FEG Exchange (FEGex) on Binance Smart Chain today at 4 pm UTC.
The initially supported trading pool is FUSE-BNB. Fuse has provided the initial liquidity necessary to jumpstart activity on the pool.
Liquidity Rewards Program
In order to ensure that there is enough liquidity in the FUSE-BNB pool to enable trading with low slippage, Fuse will run an attractive yield farming program to reward liquidity providers on the pool with FUSE tokens in addition to the incentives provided by the FEG protocol.
Blockchain: Binance Smart Chain
DEX: FEGex
Pool: FUSE-fBNB
Program Start: Thursday, November 11th, 2021 at 4pm UTC
Program duration: ongoing
APY: See Fuse Rewards when the program is live.
To participate in the program, LPs will need to complete the following steps.
- Obtain equal amounts of FUSE and fBNB on Binance Smart Chain.
*FUSE tokens on BSC can be purchased on FEGex or PancakeSwap.
*FUSE can also be bridged to BSC from the Fuse Network blockchain (if needed). The tutorial on how to bridge tokens from Fuse Network to BSC is available here.
2. Provide liquidity on the FUSE-fBNB pool. To see the pool on the FEGex interface, LPs will first need to import FUSE from the “All tokens” list using the “Exchange” interface.
3. Deposit the LP tokens on the Fuse Rewards platform.
Future Plans for Collaboration
Further down the line, Fuse and FEG will explore enabling the listing of the FEG token on the Fuse-native DEX FuseSwap, as well as extending the FEG Token protocol to Fuse Network, and other potential options for expanding the integration.
The Fuse team is thrilled by the collaboration with a leading DeFi ecosystem, and we are confident that it will represent a major step towards establishing Fuse as a leading blockchain platform for DeFi applications, including through bringing over the expertise of the FEG community.
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