AnnoncesGate.io The announcement on delaying the opening of FEG for 2 hours
Gate.io The announcement on delaying the opening of FEG for 2 hours
2021-05-12 04:08:11 UTC
205471 Lire
According to the current technical analysis, the current blockchain network is seriously blocked, some FEG recharge transactions have been delayed by 30-60 minutes, in order to pre-recharge users to recharge the account as soon as opening and to ensure smooth liquidity, we will delay the opening trading time of FEG for 2 hours and the new opening trading time is on May 12, 2021 06:00 (UTC).
FEG is a deflationary token with a max circulating supply of 100 Quadrillion. On each transaction, a tax of 1% will be distributed to the holders and a further 1% will be burnt, hence incentivizing holders to hodl and decreasing the supply overtime. As the supply decreases, the scarcity of the token increases. This inversely-proportional relationship constitutes a supply and demand model. Furthermore, there is no limit as to how many tokens can be burnt. Without a burning limit you know what happens next. Each on-chain transfer (recharge and withdrawal) blockchain will charge a 2% fee, which is not collected by the platform. At the same time to covers the transfer cost collected by the user's recharge (the platform needs to initiate a transaction to hot wallet after the user recharges), An additional 2% handling fee is required when withdrawing cash, so please be sure to understand the rules.
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