Dear EG Community,
We’re thrilled to share some key updates and initiatives that showcase our commitment to continuous improvement and collaboration. Here’s what’s on the horizon:
1. Launching a New Staking Pool with Improved APY
We are excited to introduce a new staking pool with better Annual Percentage Yields (APY) for our holders very soon. This initiative aims to provide more competitive returns and incentivize long-term participation within the ecosystem. Please unstake your tokens from existing pools as soon as possible.
2. Adjustments to Buy and Sell Fees
- Buy Fees: We are removing buy fees entirely, reducing them from 5% to 0%. This change aims to encourage new entrants and increase trading activity. This change is now LIVE!
- Sell Fees: The current sell fee of 5% will stay as is. We plan to reduce to 3% as our next target, with the long-term goal of eliminating the sell fees entirely. This progressive reduction aligns with our vision to make EG more accessible and liquid for the community.
3. Monthly Supply Burns
We are introducing a structured burn mechanism, reducing 1% of the supply from EGMigrate every month. Over the next year, this will result in a 12% reduction in supply ($540K in total at current market price). Each monthly burn will be an event worth celebrating, reinforcing the deflationary nature of EG and engaging the community.
We are still evaluating the best course of action for the remaining EGMigrate supply. Updates will follow as we align on the most beneficial strategy.
4. Launching FEENIX and aiding It’s Success
EG Team has been helping projects launch on various chains including Base, ETH, Arbitrum and Solana.
We recently helped rescue a promising project on Solana and saved $17K in funds from being stolen. We are now aiding their relaunch. The project is called FEENIX which isn’t your typical meme coin. In a world full of rug pulls and scams which make up a large majority of Solana tokens unfortunately, FEENIX stands tall with its great branding and utilty which is a Telegram Bot for Cross-Chain Transfers with an amazing referral program.
Now that the FEENIX project launch is underway, our priority is to make it steady and sustainable post-launch. This includes:
- Collaborating with EG for Marketing: We’ll assist with initial launch marketing efforts, ensuring the project gains traction.
- Integrating EG Technology: FEENIX will integrate EG tech into its bot, strengthening cross-project collaboration.
Check out #FEENIX below. We hope this will be the start of a great partnership between two amazing utility projects on BSC and Solana.
🌍 Website: https://getfeenix.com
🐦 X: https://x.com/FeenixOnSolana
📄 Docs: https://docs.getfeenix.com
🗞 Medium: https://medium.com/@feenixonsol
Feenix on Solana
5. Innovative App to Buy Memes with Credit Cards
Meme tokens cannot be ignored anymore. They make the bulk of tokens that reached a 1 Billion marketcap this year and everyone is expecting a meme super cycle soon. The issue is that they are hard to get hold of for average users unless they hit central exchanges. At that point, the price is way too high. In collaboration with FEENIX, using our EGRamp technology, we have a visionary idea to develop an iOS/Android app that allows users to purchase memes using credit cards. This app will benefit both EG and FEENIX, with EG supporting the development. Such innovation will enhance utility and drive adoption.
6. FEENIX Airdrop to EG Holders
We are NOT getting any allocations pre-launch for FEENIX. After FEENIX is live, we will buy tokens at the market price and plan to distribute it to EG holders.
As FEENIX is on Solana, you will need a Solana Wallet address. Please look out for further announcements on how to create a Solana Wallet and claim your airdrop.
7. Collaborative Efforts with Long-Term Partners
We’re actively engaging with a couple of big (20 Million Mcap+) projects that have expressed interest in long-term collaborations. These partnerships will drive mutual growth and expand the reach of EG within the broader crypto space. Once something is finalised, we will release more details.
8. Revisiting Salesforce Opportunities
We will revisit our Salesforce strategy to explore whether there is renewed interest and identify how we can capitalize on these opportunities. The goal is to ensure we’re maximizing the potential of this avenue for growth and partnerships.
9. VoiceChats, X Spaces and More Social Content
- We’ll conduct VCs and produce YouTube videos showcasing how EG supports startups, small players and the FEENIX relaunch.
- Educational initiatives will bring more people into our ecosystem and promote collaboration with new and upcoming SOL-based projects.
10. Enhancing GG NFTs Rewards
We’re considering burning low-tier GG NFTs, reducing the total supply. This will increase rewards for existing NFT holders, making them more valuable and rewarding long-term participants.
Conclusion
These updates reflect our continued dedication to growth, collaboration, and value creation for the EG community. Together, we are building an ecosystem that thrives on innovation and inclusivity.
Thank you for your ongoing support and trust. Let’s continue to grow and achieve great things!
– The EG Team
Alex G
admin
