E-Paper

UAE

Life and Living

World

Opinion

Business

Sports

Entertainment

Dubai World Cup

lifestyle

Travel

Reviews

Brands

Supplements

KT Events

KT APPDOWNLOAD

Now, create your own crypto tokens in Dubai

SmartDeFi and FEG launch innovative platform in emirate

by

Somshankar Bandyopadhyay
  • Follow us on
  • google-news
  • whatsapp
  • telegram

Top Stories

UAE announces 2-month grace period for residence visa violators

UAE announces fee refund for tax service charges from August 1

Paid parking in Dubai: Residents face up to Dh4,000 extra yearly costs when new rates kick in
Ste Cha, marketing lead for FEG
Ste Cha, marketing lead for FEG

Published: Thu 19 Sep 2024, 9:16 PM

How would you like to create your own crypto tokens?

As crytpocurrencies increasingly become mainstream, Dubai’s progressive regulatory environment, especially with the establishment of the Virtual Assets Regulatory Authority (Vara), has spurred a number of crypto related businesses in the emirate. The latest to join the bandwagon is FEG (Feed Every Gorilla), a platform that empowers businesses and individuals to launch their own tokens, encouraging innovation across industries such as real estate, e-commerce, and gaming.


“The philosophy of Feed Every Gorilla (FEG) embodies inclusivity and financial empowerment. FEG’s mission is to create a decentralised financial system accessible to everyone, regardless of background. By lowering entry barriers, FEG promotes financial inclusion and enables people worldwide to access decentralised finance opportunities that traditional financial systems may not offer,” Ste Cha, marketing lead for FEG, said. “SmartDeFi plays a crucial role in advancing the cryptocurrency industry by simplifying token creation. More tokens lead to greater liquidity, broader public crypto adoption, and the growth of a decentralised economy,” he added.

FEG and SmartDeFi selected Dubai for their launch due to its global reputation as a blockchain hub, Cha said. “The city’s progressive regulatory environment, coupled with its ambition to lead in digital assets, aligns with FEG’s goals. Dubai offers access to investors, a growing tech ecosystem, and strategic geographic advantages. Initiatives such as the Dubai Blockchain Strategy provide a strong foundation for blockchain projects, ensuring that SmartDeFi can thrive in an environment dedicated to digital innovation,” he added.

Dubai’s embrace of blockchain technology and its establishment of free zones tailored to digital assets have positioned the city as a key player in the global crypto industry. “This forward-thinking environment fosters growth for new ventures and established projects like FEG, promoting both innovation and broader cryptocurrency adoption. As Dubai rises as a global crypto hub, it shapes FEG’s strategic choices. The city’s expanding blockchain community and tech-forward infrastructure provide fertile ground for SmartDeFi’s growth. With access to partnerships, networks, and a supportive regulatory framework, FEG positions itself to succeed in decentralised finance (DeFi),” Cha said.

A significant strength of SmartDeFi is its accessibility for users of all technical backgrounds. The platform reduces cryptocurrency complexity, allowing anyone to participate in token creation, trading, or investing. With twice-audited security and a streamlined user experience, SmartDeFi ensures that even those without tech expertise can confidently engage with decentralised finance, facilitating widespread adoption.

SmartDeFi also traditional barriers to crypto investing with its built-in asset-backing feature, that guarantees a minimum value for each token, offering greater protection against financial loss. The platform’s automated liquidity generation and all-in-one token creation tools make crypto investing more approachable for both new and experienced users, paving the way for mainstream adoption, Cha said.

Trust is essential in any financial system, and SmartDeFi seeks to address this with a transparent, secure design. “Each token created on the platform has an asset-backing option to ensure a minimum value, protecting users from total loss. With its twice-audited structure, SmartDeFi enhances trust by minimising vulnerabilities. Its decentralised nature also prevents centralised control, reducing risks of fraud or manipulation and instilling confidence in users,” Cha said.

Following its launch, SmartDeFi is expected to significantly impact the decentralised finance landscape. By simplifying token creation and trading, the platform will attract numerous new projects, increasing market liquidity and participation. “As entry barriers decrease, more businesses and individuals will engage with decentralised finance, propelling SmartDeFi to the forefront of the crypto space,” Cha said.

Somshankar Bandyopadhyay

More news from Business