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Gate.io The announcement on delaying the opening of FEG for 2 hours

2021-05-12 04:08:11 UTCLido:191474
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.

Deposit FEG at https://www.gate.io/myaccount/deposit/FEG
Trade FEG in USDT market via: https://www.gate.io/trade/FEG_USDT

Gate.io is an established exchange that holds integrity, transparency, and fairness to a very high standard. We charge zero listing fees and only choose quality and promising projects. Our exchange consists only of 100% real trading volume. Thanks to everyone who has joined us in our journey. We always intend to improve and innovate to reward our users for their continuous support.

Gate.io Team
May 12, 2021

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