🦍Dear FEG Family, 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.