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      "author": "ferrumnetwork",
      "permlink": "ferrum-network-annual-report-2019",
      "title": "Ferrum Network Annual Report 2019",
      "body": "Dear Ferrum Community,\nIn this report, we recap the significant achievements from 2019 in the areas of technology, business development, and marketing/community. We also look forward to what is coming in 2020.\nBefore we begin, we want to thank you all for your amazing support throughout 2019. We can’t wait to show you what’s in store for 2020!\n\nTechnology\nFrom Ferrum’s early days, we knew it was critical to launch a useful, revenue generating product to demonstrate utility and staying power. Thus, First Kudi was conceived of in late 2018, and the beta version was launched in May 2019.\n\nFirst Kudi\nFirst Kudi is the only FinTech app in West Africa for instant fiat payments through phone numbers, access to investment in digital currencies, low cost merchant services, and bank accounts for the unbanked.\nBeta testing began in March 2019, and the beta version was launched in the Google Play store in May 2019\nBetween May and December, we updated the app four times based on early adopter feedback, including an update that provided bank accounts for all our users and integrated the Kudi bank card in partnership with Stanbic bank.\nThe First Kudi team was extremely busy on the ground in Nigeria — hosting numerous events, educating people about the benefits of the app, and who could forget the time Kudi was featured on the BBC!\nAt the end of 2019, we announced two major milestones: adding FRM and ETH and the addition of First Kudi to the Apple store.\n\nNow with the technology in place, First Kudi is ready to expand into Ghana, and reinitiate its aggressive marketing campaign to begin scaling.\n\nToken Bridge\nThe Ferrum Network Token Bridge was built from the ground up to enable fast, easy swaps of ERC-20 and BEP-2 FRM. Here’s a recap of its development.\nThe Token Bridge was launched in early August 2019 a few days after our listing on Bitmax.io.\nIt was built from the ground up using Ferrum Network technology for increased security and ease of use, as explained in this article.\nIt is powered by the FRM token and users are required to spend approximately 50 tokens per swap.\nTo date, our community has swapped millions of FRM tokens using our Token Bridge and has provided utility for the token.\n\nFlexible ERC-20 Staking\nGiven the popularity of staking and DeFi, we wanted to launch an early version of staking that works with any ERC-20 token. Here’s a short recap of FRM Staking 1.0.\nIn November 2019, we launched our staking version 1.0 with three tiers of staking pools, and rewards as high as 50% for the 18 month staking pool.\n\nThe total amount of FRM locked for staking is 8,412,666 (all pools) + 2,397,260 locked for rewards, equalling around 10% of \n\nFRM circulating supply.\nWe are now in the process of formulating staking 2.0 (“FRM Stake and Earn”) with assistance from the community. You can get involved here!\n\nBusiness Development\n2019 was also a big year for partnerships and business development. Below is a recap of our major partnerships and progress on the business front.\nFirst Kudi biz dev: signed up over 100 merchants for the point of sale system, and developed the Kash and Kudi rewards program (to be revealed soon).\n\nGemini co-marketing partnership: In January 2019, we announced that Kudi and Ferrum would be working with Gemini to become the first app in Africa to provide access to a U.S. Dollar backed stable coin.\n\nHydro partnership: In April 2019, we partnered with Hydro to integrate Hydro technology into Ferrum Network’s identity authorizations, risk-free transactions and cold storage management.\n\nFusion partnership: In April 2019, we partnered with Fusion to enable a faster, more reliable interoperability network by leveraging Fusion’s Distributed Control Rights Management System (DCRM) technology.\n\nBinance Chain Integration: In July, we announced that we would be issuing tokens on the Binance Chain. In August, we listed on Binance DEX. In September, we became the first members of the Binance Chain Alliance.\n\nDash partnership: In September, we announced our partnership with Dash to work together to expand our presence in Africa.\n\nPChain partnership: In November, we announced our partnership with Pchain to work together in Asia and create a Chinese version of the UniFyre Wallet.\nVite partnership: In December, we partnered with Vite to as a co-listing partnership. More news on the FRM listing on ViteX to follow.\n\nMarketing and Community\nCommunity is everything to Ferrum, which is why we have made concerted efforts to grow and support the community through Social Mining, AMA campaigns, and a constant social media presence. Here are some highlights:\nSocial Mining: a community-driven marketing platform that rewards FRM holders for creating valuable social media content. We have over 3000 users, about 10 million FRM tokens “staked” in social mining, and hundreds of participants receive approximately 260,000 FRM every month. Social mining will run into late 2020, so sign up today and start earning!\n\nGuerilla marketing: given the bearish market conditions, our strategy was based around grassroots campaigns and actively engaging the community through social media. In addition, we held nearly 30 AMAs in communities around the crypto space, including international communities, influencer communities, and even on Twitter and Facebook!\nTwitter/Telegram/Bitcointalk/Reddit/etc: at the beginning of 2019 our community was very small and Ferrum was basically unknown. But as a result of our community driven marketing efforts we have reached approximately 6,200 Twitter followers, over 13,000 Telegram members, and hundreds of contributors on Reddit and Bitcointalk. With your help, we can reach tens of thousands more in 2020!\n\nLooking Towards 2020\nWhile 2019 was a big year, we know we can make 2020 even bigger! Here’s a sneak peak of what’s upcoming in Q1:\nStaking 2.0 (“FRM Stake and Earn”): thanks to your invaluable feedback, we are excited to be launching the new and improved FRM Stake and Earn. Stay tuned for more announcements over the coming weeks.\nUniFyre Wallet: regrettably, we were unable to launch UniFyre in Q4 because the engineering on First Kudi (bank accounts, iOS version, FRM/ETH) took longer than expected. However, we opened private beta testing and have been getting valuable feedback on the early version of UniFyre. UniFyre will launch in Q1 2020.\n\nFerrum Fiat Gateways: our vision is to create an integrated ecosystem of fiat gateways, non-custodial wallet, DEX and cold storage that allow people around the world to take control of their money. We are happy to report that two additional fiat gateways are in progress, and we hope to announce at least one of them in Q1 2020.\n\nOf course a lot more is planned for 2020, and we will never stop our hands-on engagement, community driven approach, and bringing you valuable real-world financial products that define the Ferrum Network brand.\nFinally, we thank you all for your unwavering support throughout 2019. Together let’s make 2020 the biggest and best year \nyet!\nBest regards,\n\nThe Ferrum Network Team\n\nFerrum Network Links:\n\nWebsite: https://ferrum.network/\nTelegram: http://telegram.ferrum.network\nTwitter: http://twitter.ferrum.network\nLinkedIn: http://linkedin.ferrum.network\nYouTube: http://youtube.ferrum.network\nReddit: http://reddit.ferrum.network\nBitcoin Talk: http://bitcointalk.ferrum.network\nFacebook: http://facebook.ferrum.network\nGithub: https://github.com/ferrumnet/\nInstagram: http://instagram.ferrum.network",
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      "to": "ferrumnetwork",
      "amount": "0.002 STEEM",
      "memo": "Good morning @ferrumnetwork, Would you like to win 250$ for your BTC price prediction? My dear friend @ritxi is sharing info to interesting contest, which you may find worth your time. We're both not part of BlockFi (they are behind this contest) and we only share it with you since you've been posting about blockchain/crypto and I figured you may find this contest interesting. Yours, Piotr // LINK: https://steemit.com/contest/@ritxi/win-250-usd-for-you-btc-price-tip-or-by-blockfi"
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  "op": [
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    {
      "from": "dtube",
      "to": "ferrumnetwork",
      "amount": "0.001 STEEM",
      "memo": "DTube Coin Round #1 is live! Visit https://token.d.tube for more information"
    }
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  "op": [
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    {
      "from": "dtube",
      "to": "ferrumnetwork",
      "amount": "0.001 STEEM",
      "memo": "Final call to claim your DTube account! It takes only 5 minutes. Go now to https://d.tube"
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  "op": [
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    {
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      "to": "ferrumnetwork",
      "amount": "0.001 STEEM",
      "memo": "Dear @ferrumnetwork. I hope you don't mind this little memo. Every week I'm trying to help and promote content published by few selected authors and today I would like to share with you post published by my friend @honarparvar: \"WARNING: This might not be a trend!\". I'm curious if you believe in TA and what's your opinion on using indicators while trading crypto. Share your opinion, I read all valuable comments. Piotr // LINK: https://steemit.com/trading/@honarparvar/warning-this-might-not-be-a-trend"
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      "parent_permlink": "ferrum-network-weekly-update-august-22-2019",
      "author": "steemitboard",
      "permlink": "steemitboard-notify-ferrumnetwork-20190822t204832000z",
      "title": "",
      "body": "Congratulations @ferrumnetwork! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :\n\n<table><tr><td><img src=\"https://steemitimages.com/60x70/http://steemitboard.com/@ferrumnetwork/posts.png?201908222023\"></td><td>You published more than 30 posts. Your next target is to reach 40 posts.</td></tr>\n</table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@ferrumnetwork) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=ferrumnetwork)_</sub>\n<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>\n\n\nTo support your work, I also upvoted your post!\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "author": "ferrumnetwork",
      "permlink": "ferrum-network-weekly-update-august-22-2019",
      "title": "Ferrum Network Weekly Update — August 22, 2019",
      "body": "Hello Community,\nFor this week’s update, we focus tech and business developments, as well as all everything happening at Kudi, our fiat gateway + payments app in Africa.\n\nFerrum Network Business Update\nThis week we are excited to report the following business developments:\nSecured Binance DEX listing, which will happen on Monday, August 26, 2019 at 2:00 PM GMT\nSecured listing on 3rd exchange (name and date to be announced soon).\n\nHired a new market making team with excellent pedigree and a track record\nCompleted 1st Social Mining distribution, distributing nearly 64,000 FRM to 52 users. 2nd distribution coming next week. Sign up here and start earning today!\n\nEntered into a partnership with a technology partner to support our user acquisition efforts on Kudi and UniFyre Wallet (more to be revealed soon)\nAnd much more to be revealed in the comings weeks and months\nFerrum Network Tech Update\nThis week we are happy to report the following technical developments:\nBuilt a flexible smart contract for staking, which will be implemented within the UniFyre Wallet to enable the staking of FRM.\n\nMajor code refactoring of the Kudi and UniFyre code base in order to improve overall experience\nContinued development updates on the Kudi app, including a major update to add Ethereum\nThe Token Bridge has converted approximately 68,000 FRM tokens at an average fee of 27%, resulting in approximately 18,000 burned FRM.\n\nKudi Update\nThis past week was short due to public holiday, yet we were still extremely productive in growing the Kudi app for personal and business use. Here are the major updates.\nBogobiri Hotel and Kudi Exchange will be hosting and sponsoring 3 nights of the arts, fun, and music! Users that pay with the Kudi app will receive a discount.\n\n\nAbuja Blockchain Conference is now confirmed. Kudi Exchange and Ferrum Network will be heavily represented. The conference boast about 1000+ attendees. We are excited for the opportunity to add these people to our growing userbase.\nKudi Exchange will be participating in the Blockchain DEV1000 initiative with partnership from IBM and Vite Blockchain. This is an initiative to train 1000+ Blockchain Developers in Nigeria in the next 2 years. More details will be posted shortly.\nWe are working on a major update on the Kudi Exchange app including a significant fee reduction for our users.\nAnd much more to be revealed soon!\n\nComing Up Next\nNext week we will do the first video AMA to answer the community’s questions. Please stay tuned because tomorrow we will be requesting that the community submit at least 5 questions for us to answer.\nVery truly yours,\nThe Ferrum Network Team\n![Screenshot 2019-08-16 at 10.55.48.png](https://cdn.steemitimages.com/DQmTNPTHqeiB4BULZavKBpkmknNfwuPbiuQ4AmiGmMaeThg/Screenshot%202019-08-16%20at%2010.55.48.png)\nLinks:\nWebsite: https://ferrum.network/\nTelegram: http://telegram.ferrum.network\nSocial Mining: https://community.ferrum.network/\nTwitter: http://twitter.ferrum.network\nLinkedIn: http://linkedin.ferrum.network\nYouTube: http://youtube.ferrum.network\nReddit: http://reddit.ferrum.network\nBitcoin Talk: http://bitcointalk.ferrum.network\nFacebook: http://facebook.ferrum.network\nGithub: https://github.com/ferrumnet/\nInstagram: http://instagram.ferrum.network\nFerrumNetwork\nFerrum Network Medium Publications\nFollow\n60",
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      "author": "ferrumnetwork",
      "permlink": "ferrum-network-weekly-update-august-14-2019",
      "title": "Ferrum Network Weekly Update — August 14, 2019",
      "body": "Hello Ferrum Community,\nWe are initiating a weekly update series to provide a information on our progress, and let you know about upcoming developments.\nThe focus will be on the tech and business, as well as all everything happening at Kudi, our fiat gateway + payments app in Africa.\nFerrum Network Business Update\nThis week we are excited to report the following business developments:\nLaunched our Social Mining platform, with nearly 250 sign-ups in 2 days and tens of thousands of points awarded! Remember to hold a minimum of 5000 FRM to start earning…first payout coming soon. Sign up here today!\nSat down with a potential partner from a top 30 project interested in UniFyre Wallet and Kudi Exchange integration. More info to follow.\nContinued to lay the groundwork for a Ferrum Network fiat gateway/payments app in Europe and will be bringing on a European based FinTech expert to help implement this product (announcement soon).\nBegan discussions with potential partners to help launch a Ferrum Network fiat gateway/payments app in the Middle East\nRe-initiated discussions with a top stable coin issuer to discuss partnership and adding their stable coin to the UniFyre Wallet and Kudi App.\nFerrum Network Tech Update\nThis week we are happy to report the following technical developments:\nLaunched our own BEP-2 to ERC-20 Token Bridge, and released an article explaining the security considerations behind our design\nHired a developer — Wycliff Kasiyre — who brings a wealth of technical experience to product development\nBegan work on our staking system, which will be implemented within the UniFyre Wallet to enable the staking of FRM\nContinued development updates on the Kudi app, including a major update to add Ethereum\nThe Token Bridge has converted approximately 30,000 FRM tokens at an average fee of 40%, resulting in approximately 12,000 burned FRM.\nKudi Update\nHere are the updates for Kudi from the past few weeks in terms of team, sales/marketing and events.\nThe Team\nFirst off we have some new additions to the Kudi team.\nAchiekere Achu has worked in the banking industry for over 10 years, she will bring her sales and support experience to Kudi.\nEmmanuel Omuetha has had numerous years of experience with Jiji.ng, and Konga. He will also be bringing his sales experience to the team.\nPeter Arinze has previous experience with retail and corporate real estate sales. He will be leveraging those contacts to sell the Kudi Exchange POS systems.\nLast but not least is Adedeji, an event support specialist. His job is to support the local events in Lagos, Nigeria.\nSales and Marketing\nThe Kudi Team has been hard at work increasing awareness and growing its user base. The team has held 2 events at Federal College of Education Akoka, yielding approximately 300+ new users on the platform. We are planning more events to educate the people on the benefits of Kudi and blockchain technology.\n\nKudi Event at Federal College of Education Akoka\nIn addition, the Kudi team has been hard at work selling the app’s Point-of-Sale system to businesses in the Lagos Island area. We have successfully closed several companies to use the Kudi POS from a variety of business sectors.\n\nNew Kudi POS Customer\nWe have also created a beta page to view customers currently using the software. The page can be found here: https://kudi.exchange/kudi-merchant/. We will also be conducting business specific promotions and events to drive sales to our Point of Sale system.\nUpcoming Events\nPoint-of-Sale (POS) Ambassador Program. Details to be announced soon\nNew Atlantic Mall Trade Fair. September 6th, 7th, and 8th\nBogobiri Hotel Event (POS event). Date to be announced soon\nAbuja Blockchain Conference. October 5th, and 6th.\nIf you are interested in attending these events or helping out, please join the Kudi Telegram channel and ask for an admin!\nComing Up Next — Bi-Monthly Video AMAs\nWe will be starting a bi-monthly video AMA based on your questions! Every 2 weeks we will be fielding questions from the community and answering the 5 best questions via YouTube video. Please look out for the first one coming up in the next weeks.\nOtherwise, we look forward to starting beta testing of the UniFyre Wallet, engaging with more partners, and listing on more exchanges.\nPlease stay tuned for all updates!\nVery truly yours,\nThe Ferrum Network Team\nLinks:\nWebsite: https://ferrum.network/\nTelegram: http://telegram.ferrum.network\nTwitter: http://twitter.ferrum.network\nLinkedIn: http://linkedin.ferrum.network\nYouTube: http://youtube.ferrum.network\nReddit: http://reddit.ferrum.network\nBitcoin Talk: http://bitcointalk.ferrum.network\nFacebook: http://facebook.ferrum.network\nGithub: https://github.com/ferrumnet/\nInstagram: http://instagram.ferrum.network![Screenshot 2019-08-16 at 10.55.48.png](https://cdn.steemitimages.com/DQmTNPTHqeiB4BULZavKBpkmknNfwuPbiuQ4AmiGmMaeThg/Screenshot%202019-08-16%20at%2010.55.48.png)",
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      "permlink": "steemitboard-notify-ferrumnetwork-20190804t114735000z",
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      "body": "Congratulations @ferrumnetwork! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :\n\n<table><tr><td><img src=\"https://steemitimages.com/60x60/http://steemitboard.com/img/notifications/firstpayout.png\"></td><td>You got your First payout</td></tr>\n</table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@ferrumnetwork) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=ferrumnetwork)_</sub>\n<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>\n\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "author": "ferrumnetwork",
      "permlink": "ferrum-network-public-sale-recap-or-bitmax-listing",
      "title": "Ferrum Network Public Sale Recap | BitMax Listing",
      "body": "Dear Community,\nWe’d like to start off by congratulating those who participated in the public sale and also those who supported Ferrum Network for the past months and continue doing so, we’ve managed to have a smooth, successful and seamless sale on Primablock which resulted in positive feedback from the community.\n\nThe sale was conducted on 1st August 2019 at 8am EST, here is a recap of what happened:\nKey numbers:\n\n578 people participated in the sale (in all the tiers) and raised $300K\nThe entire public sale lasted just under an hour\nTier 3 gas war round lasted approximately 2 minutes\nThe interest in our sale was overwhelming and it meant that some people were not able to participate, but there will be plenty more opportunities to earn some FRM tokens through our upcoming Social mining platform, BitTreasure and much more! (Keep track of our announcements on our official Telegram channel)\nWith the sale completed let’s dive into some key information for those who participated:\nToken Distribution: 40% at TGE; 40% after 30 days from TGE; 20% after 60 days from TGE. Initial distributions will be conducted on August 4th, before trading goes live on BitMax.\n\nToken Bridge\nBEP-2 tokens will be convertible to ERC-20 through a token bridge. For the first 30 days after distribution, there will be a 50% fee for converting BEP-2 to ERC-20, decreasing by 1.5% per day until the fee is eliminated.\nIn addition, by applying to Binance DEX early at the time of TGE, we increase the likelihood of secondary listing around 30 days later. This means that no matter what, the BEP-2 tokens will be fully liquid with no fee approximately 30 days after TGE.\n\nPrimary Exchange Listing\nFRM will be listing with BTC and USDT pairs on BitMax.io on August 5, 2019 at 10 am EDT.\nIf you do not already have a BitMax.io account, we are asking all our supporters and community members to sign up here in advance of the listing.\nFerrum Network Bounty\n\nBounty ended on July 31st, 2019. Bounty Hunter’s disbursement payments are as follows (ERC-20 only):\nA) 33% on September 1st.\nB) 33% on October 1st.\nC) 34% on November 1st.\nFerrum Network will be continuing a similar Bounty program, in which it will be released next week. This platform is called Social Mining. You will have the opportunity to earn more FRM for various of tasks and stake your FRM to earn even more! Keep a close eye on the official announcements and join the official Telegram group for the official release.\nThe Ferrum Network Team truly does appreciate your involvement and commitment in supporting us along the way and being apart of our community!\n\nVery truly yours,\nThe Ferrum Network Team\n![Screenshot 2019-08-04 at 12.37.26.png](https://cdn.steemitimages.com/DQmRYrHVTyEQVBVKL3Ncu6b7vaLx3uX2vBdTNR4nsHjp3ge/Screenshot%202019-08-04%20at%2012.37.26.png)\nLinks:\nWebsite: https://ferrum.network/\nTelegram: http://telegram.ferrum.network\nTwitter: http://twitter.ferrum.network\nLinkedIn: http://linkedin.ferrum.network\nYouTube: http://youtube.ferrum.network\nReddit: http://reddit.ferrum.network\nBitcoin Talk: http://bitcointalk.ferrum.network\nFacebook: http://facebook.ferrum.network\nGithub: https://github.com/ferrumnet/\nInstagram: http://instagram.ferrum.network",
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  "trx_id": "4127446a9f85dc6ffdca5db0cb18c8c3092f32ac",
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      "author": "ferrumnetwork",
      "permlink": "ferrum-network-frm-purchase-guide",
      "title": "Ferrum Network FRM Purchase Guide",
      "body": "Dear Community,\n\nThank you for completing the KYC process! We are happy to report that a total of 1530 people submitted KYC. Of those, 1170 are on the whitelist.\nNow we would like to explain the sale process that will occur through our partner Prima Block, but first some general information.\n\nGeneral Information\n\nTime and Date: August 1st, 2019 at 12:00pm GMT (8:00am EST)\nThe sale will be split into 3 tiers with timing and personal limits as follows.\nTier 1 (high value supporters): 8:00–8:15 AM. Personal Limit: $1,000\nTier 2 (whitelisters): 8:20 AM EST — 8:55 AM, first come, first serve among whitelisters. Personal limit: $400\nTier 3 (anyone who did KYC — Gas War Lite): 9:00 — close, FCFS among all KYC participants. Personal limit: $3,000\n\nNote on limits: the $3000 limit in the final round applies to all participants. So if a Tier 2 contributor maxes our their contribution, they have a balance of $400. Once the gas war starts they can add $2,600, but not more because they cannot exceed the $3,000 limit.\nMinimum contribution: .15 ETH\n\nTiming of Participation\n\nThere will be one official pool that only we control. We will open up the pool to the tier 1, tier 2 and tier 3 according to the timing below. Every person who has performed KYC has been categorized based on whether they are a tier 1, tier 2, or tier 3.\n\nAt 8:00 AM we will open it up to the approximately 30 people in tier 1. Only people in that tier can contribute. It will be impossible for others to contribute.\nAt 8:20 AM we will open it up to the whitelisters. Non-whitelisters will not be able to contribute.\nAt 9:00 AM we open it up to everyone else who has done KYC.\n\nThe Steps\n\nHere are the steps to participate.\n\nStep 1: Go to Official Ferrum Network Sale Site\nGo to the official Ferrum Network Sale URL (to be released soon).\nIMPORTANT: there may be people attempting to create a fake URL. However, Prima Block is closely monitoring their system and immediately shutting down any fake “Ferrum” ICO pools. There will be a single, secure URL communicated by the team in the near future. Please report any suspicious activity.\n\nStep 2: Input ETH Address\nInput the Ethereum address you used in the KYC process (it will be identified in your KYC confirmation e-mail). You MUST contribute using this address otherwise you will not be able to participate. Once you have input your ETH address, press “submit”.\n\n![Screenshot 2019-07-30 at 18.39.55.png](https://cdn.steemitimages.com/DQmZqLS8WRCRa4R5EBWVDqk5rihR4YAFr2WcC2MVHLUCJn3/Screenshot%202019-07-30%20at%2018.39.55.png)\n\nStep 3: Agree to Prima Block’s Terms of Service\n\nYou must agree to Primablock’s terms of service (TOS)\n\n![Screenshot 2019-07-30 at 18.40.37.png](https://cdn.steemitimages.com/DQmXYYUX4tG4vLoLX4ffyd7Vt42tsKDW9NmVa3UwNzXZNYb/Screenshot%202019-07-30%20at%2018.40.37.png)\n\nStep 4: Familiarize Yourself with the Pool Page and Press “Contribute ETH”\n\nBefore the sale begins, please familiarize yourself with the official Ferrum Network ICO pool page. Review all aspects of the page: a) description of pool; b) your contribution amount; c) the contribute button; 4) the amount of ETH in the pool, etc.\nNote: Check the FRM smart contract address at the bottom right side of the page and make sure matches the official address that will be provided by the team. This will be another validation that you’re in the correct Ferrum Network ICO pool.\n\nWhen you are ready, press “contribute ETH” to go to next step..\n\n![Screenshot 2019-07-30 at 18.41.38.png](https://cdn.steemitimages.com/DQmYS1a8pNJKidxQRUMzwQqfXXXJLaUYWqPZGZLH8biTpE1/Screenshot%202019-07-30%20at%2018.41.38.png)\n\nStep 5: Agree to Ferrum’s Terms and Conditions\n\nAfter hitting “contribute ETH”, you will be directed to accept the terms and conditions.\n\n![Screenshot 2019-07-30 at 18.42.23.png](https://cdn.steemitimages.com/DQmb5EQ6qv6HZJNafF9n5k5ri9wVTdBnBfnXQsRTpwR86ce/Screenshot%202019-07-30%20at%2018.42.23.png)\n\nStep 6: Input Your Contribution in ETH\n\nInput the value of your contribution in ETH. A maximum contribution will be displayed based on the tier that you are in (see above).\n\nNOTE ON PRICE PEG: the ETH price peg will be determined 30 minutes before the sale using binance.com as the reference point and announced to the community.\n\n![Screenshot 2019-07-30 at 18.43.17.png](https://cdn.steemitimages.com/DQmdjGpXhm5XrBsqiLNZR1Cr8SBzR1qPvsrmdNL9ouWX6vn/Screenshot%202019-07-30%20at%2018.43.17.png)\n\nStep 7: Select Your Wallet and Confirm ETH Address\n\nNext, select which wallet you want to use, and confirm ETH address you used during the KYC process.\nFor the wallet, Metamask is highly recommended due to the speed and ease in participating in the sale. Anyway, click the appropriate wallet and proceed to confirmation page.\n\nNOTE RE: ETH ADDRESS: you must use the same ETH address you used during the KYC process.\n\n![Screenshot 2019-07-30 at 18.43.54.png](https://cdn.steemitimages.com/DQmboTkAJPDLihhJrTxS28sVkr1gp1VeXqZgMvKzNeQYKcq/Screenshot%202019-07-30%20at%2018.43.54.png)\n\n\nNOTE re: “Gas Limit:” You’ll see a field for gas limit. This is set by Prima Block, but is not that important for you because it is NOT the amount you will spend to increase the speed at which your transaction is processed (that is “gas fee” — see step 8). \n\nFor a full discussion on “gas limit” vs “gas price/fee” check out this article and this article.\n\nStep 8: The Confirmation and Contribution\nIn this tutorial, we used Metamask as the wallet, so the Metamask confirmation screen appeared on the left corner of your screen.\n\n![Screenshot 2019-07-30 at 18.44.35.png](https://cdn.steemitimages.com/DQmbeaFbin8A3LnahyV2pni4fX4CKkrmffeRvA25Vez1t5z/Screenshot%202019-07-30%20at%2018.44.35.png)\n\nHere you will see the amount you will contribute, plus your gas fee.\n\nIMPORTANT NOTICE RE: GAS FEE: you can increase the gas fee to increase the speed in which your transaction will be accepted. 50 “Gwei” is usually sufficient for a fast transaction, even during times of a gas war.\nTo increase gas fee press “edit” — this will take you to a page where you can increase the gas fee.\nGas fee is separate from the pool contribution, but you will need enough ETH in your wallet to pay for their contribution, plus enough ETH to pay for the gas costs. For more information, please see “Gas War” section of this guide.\nAfter selecting your gas fee, you will see your total contribution amount: amount of ETH you will contribute, plus your gas fee.\n\nPress “Confirm” to contribute to the pool.\n\nStep 9: Back to Pool to See if Contribution Was Successful\nAfter confirming your transaction, you’ll want to check if it was successful. So click “Back To Pool” and return to the pool screen and your balance will update on the Prima Block page. Another way to is to check the status of the transaction on Etherscan. If the transaction succeeded then it’s part of the pool!\n\nStep 10: Wait for Next Tier to Open (if you want to contribute more)\nFor Tier 1 and Tier 2 members, you can also participate in Tier 3 — the gas war lite.\n\n![Screenshot 2019-07-30 at 18.45.23.png](https://cdn.steemitimages.com/DQmdinszcMyENsCa31pFb7ZWM1r59HEfjQNVXLmyDUa8HiN/Screenshot%202019-07-30%20at%2018.45.23.png)\n\nTHE GAS WAR GUIDE\nTier 3 is a Gas War round and will begin at 9:00 AM EST. Everyone who did KYC and received a confirmation email can participate in this round.\n\nSteps for Gas War\n\nThis example is using Metamask. If you’re using another wallet make sure you’re familiar with adjustments to the GAS FEE (GWEI) — this will determine how much weight your contribution will carry during the gas war.\n\nThis guide will begin from STEP 8 in the basic overview guide.\n\n8.1 In Metamask, to adjust your GAS FEE (to increase transaction speeds), hit “Edit”\n\n![Screenshot 2019-07-30 at 18.46.08.png](https://cdn.steemitimages.com/DQmWh8tx7fzNBTjDni58Gsr6VXJ1H6krCYP3CLtut7yUxB9/Screenshot%202019-07-30%20at%2018.46.08.png)\n\n8.2. You will see “Basic” and “Advanced”. Select “Advanced to edit the GAS PRICE.\n\n![Screenshot 2019-07-30 at 18.46.13.png](https://cdn.steemitimages.com/DQmScZLk6XHMBZMWWdPeT4LQEzxzYLhzMdurcz2FTPQukbX/Screenshot%202019-07-30%20at%2018.46.13.png)\n\n8.3 Adjust your GAS FEE to any specified amount. The higher the gas fee, the faster your transaction. There is no limit to gas fees.\n\n8.4 After you adjust the GAS PRICE, hit “Save”. This will return you to the screen where you can then send your transaction.\n\n![Screenshot 2019-07-30 at 18.46.59.png](https://cdn.steemitimages.com/DQmdyNPfuXXBeAo1qnB3iBgYgW3MeJrSkagB83VPn9mKTbY/Screenshot%202019-07-30%20at%2018.46.59.png)\n\nLast Step\nYou’ve successfully completed in the Ferrum Network Sale! You can monitor the sale’s progress and distributions on the main Ferrum Network pool page at anytime.\n\nWhat’s Next\nAn article on how the distribution will work will be released within the next few days.\nOur CMs will be working around the clock to answer your questions. If you feel we missed anything in this guide, please let us know.\n\nThank you and good luck!\nVery truly yours,\nThe Ferrum Network Team\n\nLinks:\nWebsite: https://ferrum.network/\nTelegram: http://telegram.ferrum.network\nTwitter: http://twitter.ferrum.network\nLinkedIn: http://linkedin.ferrum.network\nYouTube: http://youtube.ferrum.network\nReddit: http://reddit.ferrum.network\nBitcoin Talk: http://bitcointalk.ferrum.network\nFacebook: http://facebook.ferrum.network\nGithub: https://github.com/ferrumnet/\nInstagram: http://instagram.ferrum.network",
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      "body": "On July 26th, 2019, The Ferrum Network team conducted a live Q&A session in the official Ferrum Telegram group. We’ve compiled all the questions and have made some edits for our future Ferrum Network community members to read seamlessly. Some of the questions, answers, responses, and sequence of questions may have been edited or modified for clarity and readability. Questions were answered from several community members.\nWe want to thank our entire Ferrum community for watching or participating!\n\nMain Participants: Ian Friend COO of Ferrum Network, Dominik Swierkot CMO of Ferrum Network. Naiem Yeganeh — CEO of Ferrum Network could not attend due to an important business meeting.\n- Introduction -\nDominik Swierkot — Our COO Ian Friend is ready to take your questions; the community Q&A starts now!\nWe encourage you to come up with deep questions and ones which will also help other community members understand what Ferrum Network is all about.\nUnfortunately, our CEO Name Yeganeh is on a business trip; But Ian is here and ready to take as many questions as possible.\n\nIan Friend — Yes let’s keep it high level and not too much about logistics of the ICO.\n\n\n— Q&A Begins -\nWhy did the team choose 1.12m as the hard cap? And more precisely, why is the ICO segregated with 300k towards the public sale and 800k for the private round?\n\nIan Friend — We looked at the market and saw that crypto projects that raised too much usually had negative performance on the exchanges. We then looked at our own approach, which is to be extremely frugal. We did not need more than 1.12mil to do everything we set out to do and a low hard cap felt like a successful strategy over the coming months and year. \n\n\nHow does one participate in the Primablock ICO after being KYC approved?\n\nDominik — Exact instructions will be communicated to the community on Monday (7/29/2019), stay tuned!\n\n\nI noticed this week that there were critical questions about keeping lots of FRM in reserve and potentially diluting the market with these FRM tokens. Is there already a clear rate with regards to the burn of tokens? Meaning: how many FRM will be brought to the market out of the reserve for every burned token?\n\nIan — Excellent question. So, the Traction Based Reserve Model is designed in such a way that it will not increase supply. This is because the number of tokens released corresponds to the amount burned that month (keep in mind, the FRM is locked for a year to begin with). The exact ratio of burned to unlock has not been determined yet, because we don’t know how much we will be burning and we don’t know our capital needs this far out. It will be less than 1–1 though.\nAren’t you afraid you do not have enough capital, to spend on an efficient marketing campaign, post-ICO?\nIan — Ferrum Network is a lean organization; we actually can do a lot on very-little capital. Everyone who has found out about Ferrum thus far, was due to proper planning and our all-star team. We’ve only spent like 10k USD on marketing (maybe even less) up until this point. However, we did allocate a sizeable amount of funds to marketing in Asia which we will do with the help of our exchange partner, BitMax.\nAfter releasing the last planned product Infiniti Dex, are there any plans on creating any other product?\nIan — We always have ideas for more products and also improving the existing one. The products after Infinity DEX will probably be more fiat gateways around the world, which we view as critical for blockchain adoption and our success.\nWhich blockchain network will Infinity Dex be utilized on? (Ferrum, ETH, NEO or BNB). Will the DEX be able to have the trading pairs against, for example: BNB/ETH and NEO?\n\nIan — Infinity DEX will run Ferrum network’s main chain, which is an interoperability network. So, it will launch with a number of different pairs. More details about Infinity DEX will be communicated in the near future.\nWhich countries are you planning to launch Kudi exchange to before 2020?\nIan — Kudi Exchange will expand into Ghana in the next few months. We are also looking at Kenya, and a host of other African countries. The timing of when we expand to these other countries is still being worked out. In Africa, it will all be Kudi. \n\nWe are looking at launching a similar product in Europe, Specifically a fiat gateway with payments app for Euros. We haven’t decided on a name.\nAny plans for South Africa?\nIan — South Africa is a bit trickier because our main competitor Luno has a tight grip on that market. That being said, we will look to expand there once the Kudi brand has grown.\nAny plans on creating two fiat gateway exchanges like Kudi for Balkans countries like: Albania, Bulgaria, Macedonia, Kosovo, Croatia, Montenegro and Serbia; and for Eastern Europe: Belarus, Russia, Moldova, Romania and etc.?\nIan — My understanding is that we can secure a fiat exchange license in Estonia which would then apply throughout EU countries. Some of those are not in the EU so I don’t want to speculate on how we would approach that at this time. In general, we want to get a license and launch in every country where there is a good market opportunity for growth. If people have connections in particular countries, we would love to speak with you.\n\nWe want to finish the main net after UniFyre so I doubt we will launch a fiat gateway product until mid-2020. Fiat gateways are a big priority for us so trust me, we will not be sleeping on it.\nCan you address the issue of Gas limit during Tier 3 of the Sale?\nIan — There will be no gas limit, this is due to the smart contract we are using and because we think it’s more exciting this way. All decisions with respect to the ICO have tradeoffs.\nHello, on what platform will the sale be held?\nDominik — It will happen on Primablock, exact instructions will be communicated on Monday.\nHow are things going with the Asian campaign? I see Africa is doing quite good. Will we see more Asian related marketing at the launch of UniFyre?\n\nIan — Asian campaign started yesterday. BitMax has done a great job. 100,000 people in China saw the post about the Ferrum BitMax partnership! \n\nBitMax has a massive campaign planned. I am talking about huge numbers, like using 100 influencers! Things are just bigger in China.\nExplain staking on Ferrum and how can one benefit from it and how to start.\nIan — Staking will be done quite simply using your UniFyre Wallet. You will select the number of tokens you wish to stake and for how long, and get a corresponding reward at pre-determined intervals (to be decided). When we start the staking, how much will be rewarded and those details are still being worked out.\nSo, no minimum token amount to begin staking?\nIan — There might be a minimum, I don’t know we haven’t really even discussed it internally in any major detail if I am being completely honest.\nWhen mainnet is released, will you still keep a fraction of tokens in BEP-2/ERC-20 or will all tokens be migrated to the Ferrum Network mainnet?\nIan — That’s a good question, I think we will need to make a decision at that time. If things are going well on Binance Dex then it would not make sense to pull them all off of there (I would think). But the majority (most if not all ERCs) will become main net tokens.\nHow long will social mining rewards program run?\nIan — Social mining is basically an advanced, community driven form of bounties. Basically, for all your value-added things you do for Ferrum (articles, videos, tweets, dev work, design work, etc.) you will be rewarded in FRM. But instead of the project acting like a dictator and deeming what was valuable, the community are the ones who decide.\n\nSocial mining will run for as long as it is beneficial for the project and our community. I’m personally really excited about social mining. For anyone who has not checked out the article, I suggest you read it. It’s going to be revolutionary IMO. Keep a lookout for an announcement about that this weekend.\nWhy would you keep ERC20/BEP2 tokens at mainnet?\nCommunity Answer — BEP2 would help with Binance listing and earning Binance community to join Ferrum community and learn about Ferrum.\nERC-20 is basic for most of projects, abandoning Ethereum the platform where you started your projects does feel painful and harmful to the Ethereum ecosystem.\nIn terms of revenue, what is the point of you making profit? I read that Kudi Exchange generates little profits currently. In the long run, at what point does the business becomes self-sustainable?\nIan — Yeah Kudi does earn some revenue even though it launched about 2 months ago. Once we get to 20k users we will be at a more sustainable level. We are getting there but these things take time. We just started our Kudi marketing campaign of going business to business to signup merchants. I’ll have a full Kudi update for in about 30 days.\n(Revised Community Question) Will you make any changes to the Tier 2 (whitelisters) to allow for more participants?\nIan — We won’t be making more changes to the ICO structure. It’s really too late in the game for that. We did our best to be fair and yet keep it interesting (no one wants a $60 allocation) decision had major tradeoffs.\nDominik — Tier 2 will not be reduced any further, it holds a good balance for many.\nCan anyone build on-top or on Ferrum Network’s mainnet? (Open-Source Question).\nIan — Yes, Ferrum Network will be open source. We decided to build our own products on top of it so there will be immediately utility instead of taking the “field of dreams” approach. But yes, anyone can build on top of the mainnet.\nCan you explain the current focus of the Ferurm network team, in a broad-sense and in a business sense? \n\nIan — We will be releasing an article soon about why we took the approach of focusing on products and users first, then migrating them onto the Ferrum Network but basically it comes down to the fact that value in tokens is driven by 2 things. Hype and utility. Hype only lasts so long. So to get utility we knew we had to build useful products, aquire users to those products, then migrate them to the network where each transaction uses FRM as gas\nCan I use your technology, to create a gateway similar to Kudi Exchange, in a different region?\nIan — That is a bit trickier. A fiat gateway requires a license, conducting KYC on all your customers, and a host of other issues that only come when you are dealing in fiat. You add the utility to the fact that every time a(n) FRM is spent, it is burned, and you have a decentralized ecosystem with real value. This is our goal.\nI thought that Ferrum was about integrating blockchains into the Ferrum Network? This is the opposite. Spreading FRM over different kinds of blockchains in the case with BEP-2 and ERC-20 tokens?\nIan — Ferrum Network itself can connect with any blockchain. Having our token on 3 different chains, while a bit cumbersome, is not exactly related to our network’s cross-chain functionality. Although the goal is one day just having FRM in our own network and having all the networks connected to Ferrum and all crypto transactions running on Ferrum rather than their native chains.\n\nBut, I can’t make any promises or predictions about where the token will be in a year from now. We don’t operate that way. We look at the facts and circumstances at the given moment in time and make the best decision. Making promises for something that happens in 1 year is a good way to piss a lot of people off.\nWill the Ferrum Network GitHub be open-sourced? \n\nIan — Yeah out GitHub is open source but I don’t think a lot of code is on there. Our plan is to build a dev community and start putting more on GitHub. We need to get that going again but have been busy with other things.\nWe will start putting more stuff on GitHub soon.\nT.k. Hamed (Ferrum Advisor) — The current dev community: https://t.me/Ferrumdeveloper it’s relatively small and has been pushed aside at the current time due to the ICO, but once the sale is completed, there will be a bigger focus on building this communication outlet up and getting users involved in the development of Ferrum.\nRegarding Prima doing ICO; Would they\n1) Take care of distribution and the vesting?\n2) Would they provide any dashboard or similar to view token release date, % of tokens in circulation and future release dates?\nIan — We will be releasing an article re: Prima Block’s involvement in the sale on Monday, and many details in general.\n\n\nCan you discuss Tier-2 of the ICO? The cap is $180k. The Personal cap is $400, so probably there will be only 450 people will get the allocation. What if we have let say around 1000 people want to contribute? Definitely it is not enough. Will it be FCFS among the whitelisters?\nIan — Yes FCFS among whitelisters. There is still less than 1k people who did KYC, so don’t worry so much about having 5000 people all coming at once.\nEven Wanchain (WAN), Icon, Polkadot (DOT) and many others are competing in Interoperability space! How is Ferrum different from other projects in interoperability?\nIan — Ferrum is taking a different approach than these projects. Our interoperability solution involves decentralized proxy tokens, not atomic swaps, which are slow and costly. The Ferrum Network test net is already connected to more networks than most of those other projects. BTC, ETH, XRP, BNB chains all will be connected when main net comes out. Maybe even a few more.\nAny future plan for expansion of Ferrum Network? Like first establish the market in Asia and then others continents? Any hope for USA?\nIan — For one, the UniFyre Wallet will be available worldwide. It’s a non-custodial wallet meaning you hold your keys so there are not the same regulatory headaches. For fiat gateways we want to launch one in the US but it’s a longer-term plan because it costs a lot of money and takes a lot of time.\nTier 2 Whitelisters will take part in the sale, via primablock, with FCFS?\n\nIan — Yes, but you will only be competing against other whitelisters.\nWhat are the other crypto’s are you planning to integrate in Ferrum other than ETH, BTC and BTMX?\nIan — BNB, XRP, maybe EOS. But honestly, we want to\nA) Focus on crypto’s with real utility and demand.\nB) Get the community involved. This means that for ones outside of top 10–20, we will be doing community voting to see which tokens should be added to UniFyre Wallet.\nAnother interesting question I have received about KYC, why there was side face picture, and three finger pictures along with regular holding id with paper?\nIan — We had a lot of fake accounts trying to join. We needed to add some more steps to eliminate the problem and it seems to have worked. I’m guessing when it is all said and done 1500 people from the whitelist will have done KYC. Give or take.\nWas KYC reviewed by your own team or any outside KYC provider?\nIan — Both. We are required by law to review applications ourselves, but we have a program that assists.\nIs KYC data destroyed as soon as approved or stored somewhere?\n\nIan — I am speaking with our outside counsel re: this issue. We are not interested in keeping anyone’s KYC for longer than legally required but some jurisdictions may have some time limits in case regulators want to review things.\nHave you considered legality from the point-of-view of the SEC, specifically for the future? You operate from the land where SEC people takes metro every day.\n\nIan — We consider the SEC in almost every decision we make. But we have a comprehensive legal strategy that I think reduces the risks of any issues with them. There’s a reason why not a single US person will be approved for the sale. There’s also a reason BitMax excludes US persons (from certain account levels I think). Anyway, we are being very careful.\nCan you share some details about the Bitmax deal?\nIan — I can’t talk about details of the listing but I will say BitMax has been an absolute pleasure to work with, and they are complete professionals in all their dealings. Also, very nice people. A shout-out to @BitMax_Admin1\nAny big announcements coming in soon?\nIan — I think we all need a breather after this week and the ICO. But yeah there will be big announcements especially involving the UniFyre Wallet which is being beta tested soon.\nRegarding uses of Ferrum tokens; Are they used throughout Ferrum eco-system? For example, In Kudi Exchange and next future product?\nIan — Yes once main net is launched all products will run on Ferrum Network. Therefore, all transactions on Kudi, UniFyre, the DEX and Sub-Zero Wallet will require FRM tokens as gas (which are burned when they are spent)\nWhen burn, will it reduce the circulation or will be recycled and used elsewhere?\nIan — No burn means gone forever, so it will reduce the circ. Supply\nBy the way, how would you make Ferrum DEX to compete with other DEX. There are too many these days, and exchanges are fighting for the volume.\nIan — Well most DEX’s are not cross chain or very fast. Even Binance DEX doesn’t have bitcoin right. So, our DEX will support all assets, and execute transactions in milliseconds. It will also be connected to a whole ecosystem where you can buy, transact, exchange and store your crypto.\nIan, when moon?\nIan — (Laughs a lot) We don’t speculate on price but let’s just keep up the hard work and good things will happen.\nDom — The community Q&A comes to a close, thank you to the community for being involved, we truly do appreciate you all. \n\nIan — Thank you all, it was a pleasure speaking with you! Our trusted admin team is here to assist from here on out. One more thing — stay tuned here because we are about to publish a video interview, I did the other day where you can learn so much more about Ferrum.\nLinks:\nWebsite: https://ferrum.network/\nTelegram: http://telegram.ferrum.network\nTwitter: http://twitter.ferrum.network\nLinkedIn: http://linkedin.ferrum.network\nYouTube: http://youtube.ferrum.network\nReddit: http://reddit.ferrum.network\nBitcoin Talk: http://bitcointalk.ferrum.network\nFacebook: http://facebook.ferrum.network\nGithub: https://github.com/ferrumnet/\nInstagram: http://instagram.ferrum.network![Screenshot 2019-07-27 at 23.05.02.png](https://cdn.steemitimages.com/DQmRi8aoozLZ9pZ2XRnastDuPY29H8eC51eab6KgozELN61/Screenshot%202019-07-27%20at%2023.05.02.png)",
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      "title": "Announcing the Ferrum Network Utility Token Offering!",
      "body": "Dear Community,\n\nAt long last, we are pleased to release the details of our initial utility token offering! In this article, we detail the general information and structure, and provide our reasoning behind the structure.\n\nGeneral Information\n\nDate of Token Sale: August 1, 2019, starting at 8 am EST.\nTotal Limit: $300,000\nKYC: Full KYC (KYC process will be described in detail in a separate article)\nToken Type: 50% ERC-20 and 50% BEP-2, with token bridge in place\nUnlocking Schedule: 40% at TGE; 40% 30 days after TGE; 20% 60 days after TGE\nSale Partner: Prima Block, one of the most trusted names in token sales (no account required)\nStructure: 3 Tiers —Tier I(High-Value Supporters); Tier II (Whitelisters); Tier III (Gas War Lite)\n\nStructure Details\n\na. Tier I: Highest Value Supporters\nPersonal Limit: $1,000\nTotal Tier Amount: $32,000\nQualifications/Restrictions: reserved for the highest value supporters who added significant and demonstrable value in the past and will assist into the future. In addition, high-value supporters will help beta test the UniFyre Wallet. All Tier I purchasers must complete KYC and be pre-approved. Tier I participants cannot participate in Tier II, but are eligible for Tier III.\nTiming/Structure: 8:00 AM EST — 8:15 AM EST. Any unsold portion will be allocated to Tier III.\nb. Tier II: Whitelisters\nPersonal Limit: $400\nTotal Tier Amount: $180,000\nQualifications/Restrictions: must have submitted whitelist application within the prescribed time period and been approved. All Tier II participants must undergo KYC and be pre-approved. Tier II cannot participate in Tier I, but are eligible for Tier III\nTiming/Structure: 8:15 AM EST — 8:45 AM, first come, first serve among whitelisters. Any unsold portion will be allocated to Tier III.\nc. Tier III: Gas War Lite\nPersonal Limit: $10,000\nTotal Tier Amount: Approximately $90,000 plus anything remaining from previous rounds.\nQualifications/Restrictions: Must undergo KYC and be pre-approved to participate. Anyone who passed KYC can participate in Tier III.\nTiming/Structure: 8:45 AM EST — until sold out. First come, first serve, gas war lite.\n\nReasoning Behind The Structure\n\nAt this point many are probably wondering, why the tiers, vesting schedule, BEP-2 tokens, and gas war, among many other questions. We would like to take the time to address those questions here.\n\nThe 3 Tier Structure\nIn essence, we wanted to balance the interests of the various parties and give everyone an opportunity to participate. This meant balancing the interests of the high-value supporters, the whitelisters, and supporters of Ferrum who are not in the whitelist.\n\nWe believe that offering a reasonable allocation to everyone in those tiers on a first come, first serve basis is the fairest way to structure our ICO. By allocating $180,000 to the whitelist round, we are showing our commitment to our early supporters, while still giving others the opportunity to participate in the Gas War Lite. We are also giving special recognition to the highest value supporters who helped get us here and will continue to add value in the future.\nRemember: for those who cannot participate, we have a primary exchange listing lined up for just a few days following the ICO…\n\nThe 40–40–20 Vesting Schedule\nAt Ferrum, we seek to be fair and transparent in all areas. Therefore, when it came to the vesting schedule, we felt it was important that everyone be equal.\n\nThe only differences between the rounds is the seed investor’s first unlock happens 30 days after TGE, and the earlier one purchased the token, the larger bonus one received to reflect the time value of money and early interest in the project.\nWe stand by the fairness of the vesting and bonus structure because our earlier purchasers had to wait a significant period of time before their tokens became liquid, whereas public sale tokens will be liquid within one week from TGE. The early purchasers made a risky decision to participate before any real traction, and they should be rewarded for it.\n\nInfo on All Rounds\n\nSeed Round:\nAmount Raised: $120,000 (40% Bonus)\nToken Price: $0.0114 (with bonus factored in)\nToken Distribution: 40% unlocked after 30 days from TGE; 40% after 60 days from TGE; 20% after 90 days from TGE\nPrivate Sale I:\nAmount Raised: $500,000 (15% Bonus)\nToken Price: $0.0139 (with bonus factored in)\nToken Distribution: 40% at TGE; 40% after 30 days from TGE; 20% after 60 days from TGE\nPrivate Sale II:\nAmount: $200,000 (0% Bonus)\nToken Price: $0.016\nToken Distribution: 40% at TGE; 40% after 30 days from TGE; 20% after 60 days from TGE\nPublic Sale:\nPublic Sale: $300,000 (0% bonus)\nToken Price: $0.016\nToken Distribution: 40% at TGE; 40% after 30 days from TGE; 20% after 60 days from TGE\nBEP-2 Tokens\n\nNext, why did we decide to issue 50% of the public sale tokens on Binance Chain? As noted in our Binance Chain article, this allows us to achieve three critical goals: 1) we can apply for Binance DEX at TGE and to achieve listing approximately 30 days post primary listing; 2) we can integrate BNB and other BEP-2 tokens into our network and products; 3) we lay the ground work for a Binance CEX listing.\n\nBy issuing a small portion of BEP-2 tokens with the ability to convert to ERC-20 through a token bridge, we are able to secure the above benefits, plus the marketing boost associated with Binance. Considering the medium and long term benefits, we believe this decision to be in the best interests of all stakeholders.\n\nToken Bridge\n\nBEP-2 tokens will be convertible to ERC-20 through a token bridge. For the first 30 days after distribution, there will be a 50% fee for converting BEP-2 to ERC-20, decreasing by 1.5% per day until the fee is eliminated.\nIn addition, by applying to Binance DEX early at the time of TGE, we increase the likelihood of secondary listing around 30 days later. This means that no matter what, the BEP-2 tokens will be fully liquid with no fee approximately 30 days after TGE.\n\nGas War Lite\n\nAs mentioned above, balancing the interests of various stakeholders was paramount. While whitelisters are very important to us, we also know that many of our best supporters joined recently and did not get a chance to sign up for the whitelist. The Gas War Lite was a way to give everyone the opportunity to invest, assuming they are willing to pay the gas fee.\nWhy Gas War “Lite” and not an old school gas war? An uncapped gas war might be very exciting, but would unnecessarily increase the risk that a few whales would buy up the whole allocation. A $10,000 personal limit felt like the right balance between a fun gas war, and reducing the risk of just a few participants buying the entire allocation.\n\nConclusion\n\nIn sum, we have done our best to balance the interests of all stakeholders, and we hope you see the value in our approach. We are anticipating many questions, so please do not hesitate to ask us anything in our Telegram group.\nAlso, we will be holding a Community Q&A on July 26th, 2019 at 11am EST in our Telegram group to answer all your questions.\n\nWhat’s Next — BIGGER News Incoming\nFinally, even more BIG news to follow soon…stay tuned!\n\n![Screenshot 2019-07-23 at 19.06.09.png](https://cdn.steemitimages.com/DQmQsKeD7ijDwCyV4tYmVB45PYzBSRfnk9aCzBCeDKX5JjP/Screenshot%202019-07-23%20at%2019.06.09.png)Very truly yours,\nThe Ferrum Network Team\n\nLinks:\nWebsite: https://ferrum.network/\nTelegram: http://telegram.ferrum.network\nTwitter: http://twitter.ferrum.network\nLinkedIn: http://linkedin.ferrum.network\nYouTube: http://youtube.ferrum.network\nReddit: http://reddit.ferrum.network\nBitcoin Talk: http://bitcointalk.ferrum.network\nFacebook: http://facebook.ferrum.network\nGithub: https://github.com/ferrumnet/\nInstagram: http://instagram.ferrum.network",
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      "author": "ferrumnetwork",
      "permlink": "ferrum-network-and-dao-maker-announce-social-mining-partnership",
      "title": "Ferrum Network and DAO Maker Announce Social Mining Partnership",
      "body": "Dear Community,\nHere we are. ICO is imminent, Kudi Exchange is live, and UniFyre Wallet v0.1 is close to launch. It’s been quite a year, and we could not have done it without your support.\nTo show our gratitude, we have partnered with DAO Maker — creators of the renowned “Social Mining” system—to increase token utility, maximize community efforts, and reward all who add value to the Ferrum Network ecosystem.\nIntro to Social Mining\nPut simply, Social Mining is a sustainable, community-driven rewards system designed to reward those who add value to Ferrum Network. But it is not an airdrop or bounty. It is an advanced rewards system designed to accurately reflect the value each person contributes to the ecosystem and reward them accordingly.\nTop projects such as LTO and Elrond have already demonstrated the power and effectiveness of Social Mining. We are honored to be working with the DAO Maker team to bring Social Mining to Ferrum Network.\n\nDashboard for the Social Mining Platform\nIn this article we provide an overview of Social Mining, why we love it, and how YOU can benefit from it.\nThe Free-Rider Problem and the Old, Stale Approaches\nIn economic theory, the Free-Rider Problem describes a situation where one person’s efforts benefits the entire system, thus reducing the likelihood that other market participants will put in their own efforts.\nIn other words, when someone else’s work benefits others, the other participants have no interest in contributing themselves. Think about it. Would you put in as much effort at work if you knew you would be paid based on the efforts of your colleagues?\nThis problem also exists in token ecosystems where a passive token holder benefits from the efforts of marketers, influencers, the team, developers, and active community members, and has little incentive to put in his own efforts.\nMany projects use bounties or airdrops to reward what they believe to be value-added actions, such as “liking” a post on social media or referring people to a Telegram channel. The problem is that one-time rewards don’t properly incentivize valuable behavior. Airdrops become spam and can attract the wrong type of supports. Moreover, the manual work encouraged by airdrops and bounties are not scalable and are too often abused by bots. Finally, one-time rewards are not sustainable, as most of those tokens are immediately sold as the “hunter” moves into the next project.\nBut what if there was a community-driven approach to create an organic community of long-term holders and contributors…?\nSocial Mining and How it Solves the Free-Rider Problem\nBy leveraging token rewards, a project can incentivize everyone to add value to the ecosystem and be rewarded in the process. Here’s how it works.\nFerrum Network will allocate FRM tokens to reward and stimulate community efforts. But the project does not dictate how these tokens are distributed in the form of one-time rewards, the community itself decides how those tokens will be distributed based on the value of other’s contributions, and does so on a continuous basis.\nPutting Power in the Hands of the FRM Holders and Social Miners\nParticipants in this system (participation is as easy as linking your social media accounts to the Social Mining platform), are given immediate power. Not only are they rewarded for creating value-added content, they now have the power to reward others for their contributions. The voting power of each member is based on their individual contributions. The more you contribute, the more voting power you have and the more rewards you receive.\nIn other words, Social Mining creates an system where the participating community members reward other participants based on the value they provide to Ferrum Network. Community driven and decentralized, the way ICOs are supposed to be.\nDid a community member make an amazing YouTube video about Ferrum, or did a Tweet get a lot of exposure? Social Mining allows participants to up-vote the best content to incentivize higher-quality work. Up-voting the best content is not only good for FRM holders, but it also increases your own validation rewards and monthly payout.\nDAO Maker’s Social Mining ensures that supply dilution only takes place when token holders add positive value to the ecosystem. Moreover, because Social Mining encourages holding FRM by offering greater voting power and monthly rewards to hodlers, it mitigates the impact of any supply rate growth.\n“Social Mining turns the typical community of passive investors into a decentralized engine of systematic value addition, commanded by the community itself.” — Hatu, CMO of DAO Maker\nAdding Economic Value + Social Value = Monthly FRM Rewards\nThe system is relatively simple: the most value you add and the more FRM you hold, the more FRM rewards you earn each month.\n“Value” can be defined in many ways, from creating and sharing content, using and referring our products, social media activity, to more complex tasks such as contributing to our GitHub or translating an article.\nIn determining the monthly reward, the system calculates a variety of critical economic and social factors such as:\nTime users hold their initially invested tokens.\nTime users hold their earned engagement tokens.\nThe total amount of tokens held by registered users.\nCurrent user community level.\nMonthly earned points based on value-added contributions\nThroughout the month you will accrue Reputation Points, which in addition to the amount of FRM you are holding, will determine your monthly payout of FRM.\n“The result of such a system is that higher level members will be more knowledgeable, more loyal, but will also be holding a higher amount of tokens. Higher ranked users will earn more benefits and responsibility, but also have a higher stake. They are disincentivized to cause problems, but incentivized to make use of user influence and reputation to help the project, hence growing token value.” — Chris, CEO of DAO Maker\nHow to Get Involved\nIn the coming days, we will provide the Ferrum Network Social Mining sign-up link, so you can link you social media accounts, start adding value and begin earning rewards!\nWhat’s Next\nWe will announce the detailed breakdown of the reward system, which are designed to incentivize value-added behavior. Expect to see generous rewards based around using our products and growing our ecosystem…\nWe will follow up shortly with the number of points each action offers, how to “level up” and earn more FRM, and much much more.\nAnd don’t forget to stay tuned for the ICO announcement date and info on how YOU can participate!\nThank you for your continued support of Ferrum Network.\nVery truly yours,\nThe Ferrum Network Team\nLinks:\nWebsite: https://ferrum.network/\nTelegram: http://telegram.ferrum.network\nTwitter: http://twitter.ferrum.network\nLinkedIn: http://linkedin.ferrum.network\nYouTube: http://youtube.ferrum.network\nReddit: http://reddit.ferrum.network\nBitcoin Talk: http://bitcointalk.ferrum.network\nFacebook: http://facebook.ferrum.network\nGithub: https://github.com/ferrumnet/\nInstagram: http://instagram.ferrum.network![Screenshot 2019-07-17 at 19.41.19.png](https://cdn.steemitimages.com/DQmeRUR8sqxMbKVS21fxGhsSNFud17abepWCRZpcYj9FBTC/Screenshot%202019-07-17%20at%2019.41.19.png)",
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      "author": "ferrumnetwork",
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  "timestamp": "2019-07-12T15:27:57",
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      "author": "ferrumnetwork",
      "permlink": "metrics-series-part-4-the-traction-based-reserve-model",
      "title": "Metrics Series Part 4— The Traction Based Reserve Model",
      "body": "Dear Ferrum Network Community,\nIn our last Metrics Series article, we explained how we will make our low hard cap work for us and previewed an innovative structure designed to align the interests of the project and the community…\nIt is now time to release the first details of this structure and explain the theory behind it….we’re calling it The Traction Based Reserve Model.\nThe Basics\nPut simply, the Traction Based Reserve Model means decreasing the amount of tokens sold during the token offering, and locking percentage of unsold tokens in the Traction Based Reserve. But rather than simply releasing those tokens whenever we feel like it, the releases are conditioned on the network gaining utility and traction…\nYou could also call it, betting on ourselves.\nThe Theory Behind The Traction Based Reserve Model\nIts been shown time and again that it is harmful for a project to raise more than it needs. A higher hard cap almost always increases sell pressure and hurts the project and investors in the long-term.\nOn the other hand, an ultra low cap also comes with risks, since it could make it more difficult to hit roadmap targets in the face of unexpected costs.\nSome projects “solve” the problem by selling an outrageously low percentage of tokens. But this is also unreasonable because it results in unacceptably high supply rate growth down the line.\nWe wanted to strike a balance — allocate a reasonable amount of tokens for the utility token sale, while reserving a similarly reasonable amount for future development.\nBut here is the element that brings it all together: instead of simply unlocking all those tokens at a later date, the Model ensures we will continue to work hard and deliver on our promises. Why? Because the unlocks are conditioned on the network gaining traction…\nThe Structure Details: Conditional Unlocks\nIn this new structure, 17% of all tokens will be locked in the Traction Based Reserve for one year. Then, the Reserve slowly and predictably unlocks based on transparent and pre-set conditions.\nThese conditions take the interests of the token holders and the project into consideration, while also employing proper risk-management strategies. For reference on how this works within the larger structure, 23% of tokens will be sold in a utility token offering, and 17% are locked in The Traction Based Reserve.\nThe Theory Behind Traction Based Unlocks\nAs stated above, The Traction Based Reserve will stay locked for one year then slowly released upon achieving pre-defined traction-based milestones. At this point you must be wondering what are these “traction based milestones”? This section describes those details, but first, some background on nature of the network.\nFerrum Network is unique in that we built useful products (such as Kudi Exchange and UniFyre Wallet) and acquired users before launching the main net. Once the main net launches, those products will run on top of our network, which is powered by our native utility token — FRM. A small amount of FRM is spent and burned for each transaction.\nTherefore, based on our existing users, on day 1 of main net launch, the FRM token will have immediate utility and be spent/burned daily. Utility will only continue to grow as we release the Infinity DEX and Sub-Zero Wallet…\nHow does this tie into The Traction Based Reserve Model? We thought about different milestones that could result in unlocking tokens from The Reserve. Should it be number users? Hitting roadmap targets? Number of daily network transactions? A combination of the above?\nAll would be reasonable, but none would accurately capture the true value of the network and the FRM token and tie it to our efforts in a fair way…\nLinking Traction Based Unlocks to the Value of the Network\nTherefore, the traction-based unlocks will be directly tied to the value of the network. But what does this mean exactly?\nThis is how it will work: as tokens are burned through daily transactions and economic burning, a similar amount will become unlocked from The Traction Based Reserve. The amount of tokens burned and subsequently released will be calculated on a monthly basis and revealed in a transparent way.\nWhile the exact ratio of burned to unlocked FRM will be determined once we have more data on daily transactions, it will look something like this: if we burn 10,000 FRM in a month, then 5,000 FRM will be released from The Reserve at the end of that month.\nBy tying the releases to the amount burned, not only are we focused on the most important metric (i.e. the value of the network), we are ensuring that supply rate growth remains low because the amount released will be similar to the amount burned.\nRisk Management Strategies\nAt this point you are probably wondering, what happens if the network has a low number of transactions/token burns, especially in the first months of main net launch, and a large unexpected expense arises?\nWhile a fully traction-based unlock is theoretically possible, it would expose Ferrum Network to too many external risk factors. Fully relying on future unknowns is problematic for the financial planning of a project.\nTherefore, to manage unexpected risks, a minimum amount of FRM will be released from The Traction Based Reserve each month. The exact amount of monthly risk-management FRM will be announced closer to the date of the first unlock, but it will be a reasonable number considering project’s financial situation at the time, and will not result in detrimental supply rate growth. And of course once the traction-based unlocks exceeds the value of the risk-management unlocks, then the latter will not be necessary.\nThe combination of traction-based unlocks, plus a sensible risk-management strategy, represents the best of both worlds. The former motivates us to strive for the adoption of the network, acquire users, and make Ferrum Network a huge success. While the latter ensures a degree of financial security and means we will not go bankrupt covering an unexpected cost.\nHow the Reserve Model Supports the Overall Structure\nFinally, The Traction Based Reserve Model not only supports our values, but also strengthens the overall proposition. For us, it’s important that every single piece of our structure forms a synergetic relationship with our overall strategy. The Model demonstrates proper commitment to long term growth, but also allows us to do even more:\nIt allows us to drastically reduce the hard cap and initial circulating supply, optimizing for current market conditions;\nOffers more room for future unpredictable spending and a constant cashflow, but primarily on the condition that we deliver on what we promised;\nThe Traction Based Reserve Model puts more skin in the game for us: how much the Reserve will end up being worth is directly correlated with the success of Ferrum Network.\nConclusion\nIn sum, we believe that the Traction Based Reserve Model is an optimal structure for aligning the interests of the project and the community, while also incentivizing us to bring value to the network and the FRM token.\nAfter all, if you don’t bet on yourself, why should anyone else?\nBut we are not done! In our upcoming article on economic burning, we will explain how the applications that run on top of Ferrum Network will contribute to the overall health of the ecosystem. Stay tuned!\nVery Truly Yours,\nThe Ferrum Network Team\nLinks:\nWebsite: https://ferrum.network/\nTelegram: http://telegram.ferrum.network\nTwitter: http://twitter.ferrum.network\nLinkedIn: http://linkedin.ferrum.network\nYouTube: http://youtube.ferrum.network\nReddit: http://reddit.ferrum.network\nBitcoin Talk: http://bitcointalk.ferrum.network\nFacebook: http://facebook.ferrum.network\nGithub: https://github.com/ferrumnet/\nInstagram: http://instagram.ferrum.network![Screenshot 2019-07-12 at 17.27.40.png](https://cdn.steemitimages.com/DQmQdMSSP4CRsomuD5RpZohBe19nDKLjWdoDjakCFw5cxrR/Screenshot%202019-07-12%20at%2017.27.40.png)",
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      "permlink": "metrics-series-part-3-our-low-cap-explained",
      "title": "Metrics Series Part 3: Our Low Cap Explained",
      "body": "Hello Community,\n\nWe have been getting some questions about our low raise and how it will impact our roadmap goals. We did not expect to hear this many questions about our hardcap of $1.12 million. Maybe it’s because some cryptocurrency investors are used to astronomical raises. Or maybe it’s because some lost sight for long-term strategies and assume everything must be paid for with ICO funds.\n\nFrom the project’s perspective, we remain as confident as ever that our token sale structure is a great fit for the current market conditions: A low cap with a low float, not based on artificially suppressing the supply, but by making this the cornerstone of our entire structure.\n\nIn this article, we explain why Ferrum Network will thrive with the “low” hardcap, and how all the individual pieces of our token sale strategy come together to support our vision.\n\nThe Best Are Built in the Bear Market\n\nThey say the best projects are built in a bear market. For us, we had to learn to survive on a small seed round by managing a burn rate of approximately $10,000 per month.\n\nWe already achieved a lot with a little: Kudi Exchange is live with customers and growing daily, UniFyre Wallet is in development with v0.1 to be released soon, we grew the community with proven guerilla marketing tactics, and even got decent influencer coverage. We also signed various partnerships with top crypto projects like Gemini, Fusion, Hydro just to name a few.\n\nPlan for the Future\n\nAfter the token sale we will not only have more funding available, but we will also have access to future financing through the The Reserve Model, an innovative structure that allows us to raise less, but still have access to funds down the road as we gain traction and hit our goals (more on The Reserve Model will be released soon…)\n\nAfter our raise we plan to hire more developers, which will obviously increase our burn rate. The burn rate is projected to be around $20,000-$25,000 per month after the token sale with a bigger team. This is still a relatively low amount for tech, but means we can develop the products and network for years with only the amount raised in the utility token offering, even with deducting the costs for an initial exchange listing and general operational costs .\n\nAfter one year The Reserve will start to unlock and will give us additional resources for the continuous development of Ferrum Network. On top of that, we have allocated some tokens for marketing purposes and for ecosystem development that can also support these endeavors.\n\nMoreover, there’s always the option to conduct an equity raise in the future based on the revenue generated by Kudi Exchange. This revenue also means we will have a proper cash flow to continue our development.\n\nHopefully you now see that based on our track record, Ferrum Network does not need outrageous funding to be successful. In our last Metrics Series Article Utility Tokens Arent Dead, The Old Structures Are we wrote how even reaching a bigger exchange will be possible with our financial planning…\n\nThe Conclusion\n\nOur funding is enough to realize the vision of Ferrum Network and its applications, while also having enough money to pay for necessary operational costs and scale properly.\n\nWe can only repeat what we said earlier. Take a look at what we achieved with the seed funding and then imagine what’s possible with 8 times that amount.\n\nVery truly yours,\n\nThe Ferrum Network Team\n\nLinks:\n\nWebsite: https://ferrum.network/\n\nTelegram: http://telegram.ferrum.network\n\nTwitter: http://twitter.ferrum.network\n\nLinkedIn: http://linkedin.ferrum.network\n\nYouTube: http://youtube.ferrum.network\n\nReddit: http://reddit.ferrum.network\n\nBitcoin Talk: http://bitcointalk.ferrum.network\n\nFacebook: http://facebook.ferrum.network\n\nGithub: https://github.com/ferrumnet/\n\nInstagram: http://instagram.ferrum.network![Screenshot 2019-07-04 at 17.50.42.png](https://cdn.steemitimages.com/DQmSCNKTpjbCrxb3TLUV5M7Dm2VYzdAhaNfn7Pq4MTb9u6s/Screenshot%202019-07-04%20at%2017.50.42.png)",
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      "author": "ferrumnetwork",
      "permlink": "june-2019-traction-update",
      "title": "June 2019 Traction Update",
      "body": "Dear Ferrum Network Community,\n\nThings really started to heat up in the month of June! For those who missed the big ICO announcement, and other major news, here’s a brief rundown of monthly our traction.\n\nThe Traction\n\nWe are happy to report the following traction for the past month:\n\nLaunched our new website with UniFyre Wallet waitlist\nAnnounced we are conducting an ICO not an IEO based on fairness to the community\nClosed the whitelist after massive support came flooding in\nSuccessfully completed the private sale in less than 10 days with huge demand\nStarted our Asia Marketing Campaign, by hiring a full-time Chinese CM and opening Chinese Telegram and We Chat channels\nContinued to grow Kudi Exchange, which was featured on the BBC (watch BBC piece here), acquiring users daily based on our marketing /commercial, and started to earn revenue!\nComing up in July:\n\nJuly will be a huge month for Ferrum Network. Please stay tuned for the ICO date and structuring announcement, whitelist emails going out soon, exchange announcement, and the start of UniFyre beta testing…among many others!\n\nVery truly yours,\n\nThe Ferrum Network Team\n\nLinks:\n\nWebsite: https://ferrum.network/\n\nTelegram: http://telegram.ferrum.network\n\nTwitter: http://twitter.ferrum.network\n\nLinkedIn: http://linkedin.ferrum.network\n\nYouTube: http://youtube.ferrum.network\n\nReddit: http://reddit.ferrum.network\n\nBitcoin Talk: http://bitcointalk.ferrum.network\n\nFacebook: http://facebook.ferrum.network\n\nGithub: https://github.com/ferrumnet/\n\nInstagram: http://instagram.ferrum.network![Screenshot 2019-07-02 at 15.41.15.png](https://cdn.steemitimages.com/DQmPrUM161CEHiHSMcPXR6NEMDmhFXoD3Dn4kJ6Jke4ZQ4A/Screenshot%202019-07-02%20at%2015.41.15.png)",
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      "title": "FRM Private Sale is Complete!",
      "body": "Dear Community,\n\nTo kick off Token Week, we wanted to make a brief announcement that Ferrum Network private utility token sale has successfully closed!\n\nWe are happy to report that our strategy was a great success: attract high quality investors, limit the amount per investor and quickly close the round.\n\nIn short, the round closed in less than 10 days with much greater demand than we could satisfy, while those who did get in have demonstrated their long term support of the project. We could not be happier with the results.\n\nThe Strategy\n\nFirst, we secured direct contribution from many high caliber investors who have demonstrated their ability to add value to the ecosystem by way of influence, support and connections.\n\nSecond, we made sure that no individual purchased an outsized share of tokens, and that no VCs (who usually only care about profits) purchased any tokens.\n\nThird, we did our best to ensure that the purchasers are true supporters of the project and believe in the long term prospects. Some of them had been with us since the very early days, while others were already users of our first product Kudi Exchange. All of them expressed interest in receiving their tokens directly to their UniFyre Wallet (coming soon)!\n\nThank You\n\nWe want to thank everyone who showed their support and belief in the project, and everyone else who assisted us with the utility token sale. You know who you are.\n\nWhat’s Next\n\nThroughout the week we will be releasing more and more information on the metrics, the public sale, and the other innovations we have come up with that support our long term goals.\n\nThank you everyone who has helped us get this far. More great things to come!\n\nVery truly yours,\n\nThe Ferrum Network Team\n\nLinks:\n\nTelegram: http://telegram.ferrum.network\n\nTwitter: http://twitter.ferrum.network\n\nLinkedIn: http://linkedin.ferrum.network\n\nYouTube: http://youtube.ferrum.network\n\nReddit: http://reddit.ferrum.network\n\nBitcoin Talk: http://bitcointalk.ferrum.network\n\nFacebook: http://facebook.ferrum.network\n\nGithub: https://github.com/ferrumnet/\n\nInstagram: http://instagram.ferrum.network![Screenshot 2019-06-24 at 22.03.24.png](https://cdn.steemitimages.com/DQmUtUGi7Y2rah3ozpsZNDWTt2jKxpsGmzLeosCkZMFKYLd/Screenshot%202019-06-24%20at%2022.03.24.png)",
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      "title": "Kudi and Ferrum on the BBC!",
      "body": "Hello Community,\n\nWe are thrilled to announce that throughout this week Kudi Exchange and Ferrum Network will be featured on the BBC World News programme “In Busines Africa”.\n\nStarting tonight you can tune into BBC World News to learn how Kudi Exchange and Ferrum Network are bringing world-class financial applications to emerging markets starting in Nigeria.\n\nHow to Watch\n\nThroughout this week, make you check out the programme In Busines Africa, part of BBC World News, to see our very own Germaine Ifudu and his historic BBC interview with reporter Ashionye Ogene! Here are the showtimes throughout the week:\n\n\nWe hope everyone has the chance to watch it, but if not, we will be recording it and sharing it with the community.\n\nThank you all for your continued support of Ferrum Network and Kudi Exchange!\n\nVery Truly Yours\n\nThe Ferrum Network and Kudi Exchange Teams\n\nLinks:\n\nKudi Exchange App: https://playstore.kudi.exchange\n\nKudi Exchange Site: https://kudi.exchange/\n\nKudi Exchange Telegram: https://t.me/joinchat/H6T8PVgvkBhlDCuU73rDOw\n\nKudi Exchange YouTube: youtube.kudi.exchange\n\nKudi Exchange Twitter: https://twitter.com/kudiexchange\n\nFerrum Telegram: http://telegram.ferrum.network\n\nTwitter: http://twitter.ferrum.network\n\nLinkedIn: http://linkedin.ferrum.network\n\nYouTube: http://youtube.ferrum.network\n\nReddit: http://reddit.ferrum.network\n\nBitcoin Talk: http://bitcointalk.ferrum.network\n\nFacebook: http://facebook.ferrum.network\n\nGithub: https://github.com/ferrumnet/\n\nInstagram: http://instagram.ferrum.network![Screenshot 2019-06-24 at 18.05.14.png](https://cdn.steemitimages.com/DQmQYqJcj8cSzzLo2T18BjKVqYRuQ62PRCiTawxnWwamCLB/Screenshot%202019-06-24%20at%2018.05.14.png)![Screenshot 2019-06-24 at 18.05.14.png](https://cdn.steemitimages.com/DQmQYqJcj8cSzzLo2T18BjKVqYRuQ62PRCiTawxnWwamCLB/Screenshot%202019-06-24%20at%2018.05.14.png)![Screenshot 2019-06-24 at 18.05.14.png](https://cdn.steemitimages.com/DQmQYqJcj8cSzzLo2T18BjKVqYRuQ62PRCiTawxnWwamCLB/Screenshot%202019-06-24%20at%2018.05.14.png)",
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      "title": "Ferrum Network is Entering Asia!",
      "body": "@@ -3430,24 +3430,187 @@\n instagram.ferrum.network\n+!%5BScreenshot 2019-06-24 at 18.03.07.png%5D(https://cdn.steemitimages.com/DQmQAZPCLZSv2fxDbvt5tz4h6AZPENt1cg83Jwegfoy998L/Screenshot%25202019-06-24%2520at%252018.03.07.png)\n",
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      "author": "ferrumnetwork",
      "permlink": "ferrum-network-is-entering-asia",
      "title": "Ferrum Network is Entering Asia!",
      "body": "Hello Ferrum Network Community,\n\nIt is well-established that the Asian markets, China and Korea in particular, represent a tremendous opportunity to blockchain projects. However, many Western projects fail to make the cross-over largely due to an inability or unwillingness to devote the necessary resources or forge the necessary partnerships to make it happen.\n\nBut Ferrum Network is not like other projects. Armed with a six-figure marketing budget and the support from a trusted and experienced regional marketing partner, we are thrilled to announce the start of our campaign to enter China and Korea!\n\nThe Marketing Campaign\n\nHere is a tiny sample of the marketing activities we will be engaged in the coming months and beyond:\n\nFeatured articles and press releases published in top-tier Chinese blockchain media such as Bihu, Jinse and Zerohello, like this article\nNews Flashes will be released on leading Chinese media sites such as Jinse and Beesnews\nOnline press conference attended by crypto reporters and distributed by Chinese media\nChinese influencer campaign leveraging dozens of the leading Chinese influencers including those from Weibo\nA client acquisition event conducted on 8BTC.com and other similar channels.\nChinese Telegram and We Chat channels with dedicated support from expert community managers\n\nFerrum We Chat Group\nKorean Community engagement through our Kakao group and Korean Telegram group\nChinese Versions of UniFyre Wallet and Other Products\n\nA marketing campaign is only as effective as its call to action. This campaign is not just about driving clicks, adding members to Telegram or even increasing trading volume on the exchange.\n\nThis campaign is really about user acquisition on our forthcoming UniFyre Wallet, and subsequent product line — Sub-Zero Wallet and Infinity DEX.\n\nFerrum Network’s value comes from users and daily transactions. Everything we do is geared toward increasing those metrics. This marketing campaign is no different.\n\nTherefore, expect to see Chinese language version of our products. Who knows, maybe we will add your native language next…\n\nWhy We Are Bullish\n\nWhile the exact size of the Chinese crypto market is difficult to ascertain, the data indicates it has the 5th highest bitcoin trading in the world, and contains 8% of the world’s millionaires. Korea is also well known for its crypto community. It would be foolish to neglect the tremendous opportunity presented by these markets.\n\nThe good news is that we already have a strong presence in the Western part of the world, and Africa. We are now ready for the challenge and opportunities that await us in Asia.\n\nWhat’s Next\n\nSoon you will see the creation of various social media channels to support these efforts, as well as an announcement about our new hires.\n\nFrom there you will see a ramping up of marketing activities, all leading up to our public sale and beyond! Please stay tuned for more announcements on those upcoming events!\n\nThank you all for your continued support of Ferrum Network!\n\nVery truly yours,\n\nThe Ferrum Network Team\n\nLinks:\n\nTelegram: http://telegram.ferrum.network\n\nTwitter: http://twitter.ferrum.network\n\nLinkedIn: http://linkedin.ferrum.network\n\nYouTube: http://youtube.ferrum.network\n\nReddit: http://reddit.ferrum.network\n\nBitcoin Talk: http://bitcointalk.ferrum.network\n\nFacebook: http://facebook.ferrum.network\n\nGithub: https://github.com/ferrumnet/\n\nInstagram: http://instagram.ferrum.network",
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  "timestamp": "2019-06-04T22:46:36",
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      "permlink": "metrics-series-part-2-utility-tokens-aren-t-dead-the-old-structures-are",
      "title": "Metrics Series Part 2: Utility Tokens Aren’t Dead — The Old Structures Are",
      "body": "Introduction: ICO or IEO?\n\nIn the last few weeks we saw a shift in sentiment from “ICOs are dead” to “Only IEOs work nowadays!”.\n\nCurrently, only a small amount of projects dare to execute an old school ICO. We now see older projects that started raising money privately a while ago now making a reappearance with the help of IEOs, even if it means unilaterally changing lock-up and bonus terms on earlier investors.\n\nSo…. IEOs are profitable, right? In our last article, we explained that many of these IEO projects are unilaterally violating SAFT terms with prior investors and artificially reducing the circulating supply to a minimum in order to fit the IEO model. Add some shenanigans that happen behind the scenes on the exchange itself and you have a perfect recipe for a profitable token sale.\n\nConsidering the current market conditions, these drastic changes are often a necessity for these projects if they don’t want their token to immediately dump. They also appeal to investors interested in quick flips, but its questionable whether the IEO returns will be sustainable in the medium to long term, not to mention that they are nearly impossible for the average person to participate in.\n\nRaising Too Much: How the Past Haunts These Projects\n\nIf you think about profitable investments during a bear market, the primary category are those projects with solid fundamentals combined with a low valuation. That’s exactly what all these projects on IEO platforms are creating by artificially reducing the circulating supply to a minimum.\n\nTake a look at some recent higher quality IEO projects, such as MultiVac, TOP Network, Blockcloud, among others. All had previously raised around $15m with a fully diluted market cap much higher than this. The quality of these projects is solid, however, investors probably would not be interested unless the circulating supply was drastically reduced. This is what IEOs artificially do for a short period of time.\n\nIEOs allow you to grab (or attempt to grab) a token with a low float of around 2% of all tokens. Suddenly, the fully diluted market cap doesn’t matter because it can make you solid money in the short term. As a result, an artificially low supply creates an attractive investment in the short term.\n\nFor the older projects that already started raising money several months back, this might be one of the best options in this market. But the fact that they raised so many millions in the past leads to inflexibility, and often necessitates changing terms on prior investors — not a great situation for those stakeholders or the project itself, which is opening itself up to legal and/or reputation risk.\n\nOur Solution: A Low Raise + Innovative Metrics\n\nWe like to talk about how we want to optimize for the short and the long term. You will hear this a lot because it’s the basis of our overall strategy.\n\nBut actions speak louder than words. So in order to stay fully flexible, we only raised a very small seed round. Because of our extremely low burn rate, this money allowed us to build and launch a fiat gateway in West Africa (Kudi Exchange), and make significant progress on our non-custodial wallet — UniFyre Wallet.\n\nA low raise also provides the benefit of flexibility. Due to the low raise at the start of Ferrum, we can easily adjust to the current market conditions. Because of this, it is our opinion that small cap ICOs will be very successful in the months to come.\n\nBut what is the best way to raise a very small amount yet not sacrifice on the long term viability of the project? A good solution is to simply sell a lower percentage of tokens during the sale and increase your company holdings. With a proper token distribution structure and actual progress, a project will be able to survive for several years, even if it raises less than $2m.\n\nFactor in a low cash burn rate, smart capital management, and innovative metrics , a project should be able to survive for years on a low raise. Also keep in mind that all the locked company tokens can appreciate in value as well.\n\nHow to Thrive on a Low Raise: Deliver on Promises and Provide Value\n\nThe biggest concerns for investors when they hear about a low raise is whether a project can secure a good exchange and maintain proper liquidity.\n\nFirst of all, please keep in mind that with a capital structure that keeps some additional tokens in reserve, the project itself has a significant interest in a successful exchange listing and successful post-listing execution, so the incentives of all stakeholders are aligned.\n\nSecondly, if a project only raises a relatively small amount, investors should not reasonably expect a top tier exchange right at TGE. It’s to be expected that the project would not spend an outsize percentage of their capital on a listing alone.\n\nWhat a lot of cryptocurrency investors seem to forget is that a listing on a top tier exchange can also be earned over time. If a project make solid progress, deliver on its promises, provide value to stakeholders, and attract significant interest, then the exchange will also have an interest in listing your token because it will lead to new exchange customers and more trading volume.\n\nIn sum, by thinking long term and doing things the right way, a small cap project can still get into a major exchange. In the near-term, there are a plethora of high-quality tier-two exchanges where low cap projects can thrive.\n\nConclusion: Create the Gem\n\nIt is our belief that low token sales with a very low hard cap and solid fundamentals will shine in this market. Of course this strategy presents its share of challenges, and some may say that choosing this route makes it harder for a project to succeed. We disagree. We believe that a lower raise presents a better opportunity for all involved — whether its our community members, investors, or the project itself.\n\nMoreover, being aware of these challenges means that we will find a solution before they become a problem. We don’t want to give up on transparency, honesty and our promises. And we never will.\n\nIn sum, we at Ferrum Network currently are in the process of creating the gem investors are looking for. You won’t be disappointed.\n\nVery truly yours,\n\nThe Ferrum Network Team\n\nLinks:\n\nTelegram: http://telegram.ferrum.network\n\nTwitter: http://twitter.ferrum.network\n\nLinkedIn: http://linkedin.ferrum.network\n\nYouTube: http://youtube.ferrum.network\n\nReddit: http://reddit.ferrum.network\n\nBitcoin Talk: http://bitcointalk.ferrum.network\n\nFacebook: http://facebook.ferrum.network\n\nGithub: https://github.com/ferrumnet/\n\nInstagram: http://instagram.ferrum.network",
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  "trx_id": "3f3277a5481776aa36e7f0eff2247e8fe90938be",
  "block": 33279850,
  "trx_in_block": 23,
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  "timestamp": "2019-05-27T17:07:33",
  "op": [
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      "parent_permlink": "crypto",
      "author": "ferrumnetwork",
      "permlink": "ferrum-network-one-pager-document",
      "title": "Ferrum Network One Pager Document",
      "body": "→ Our 'One Pager' document has been created to shine light on key features of Ferrum Network, our products and basic token metrics (More details will be communicated soon)\n\n🔗 http://onepager.ferrum.network/\n\n![OnePager (v.1.2).jpg](https://cdn.steemitimages.com/DQmbP8Rk24k6FLKG6MhSQ18rjq3vUbMwbpu9xT5tydSaSrC/OnePager%20(v.1.2).jpg)",
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{
  "trx_id": "42232bf2eda04e0a20d9bbb5a80bdd794473c46a",
  "block": 33190577,
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  "timestamp": "2019-05-24T14:40:00",
  "op": [
    "transfer",
    {
      "from": "hiroyamagishi",
      "to": "ferrumnetwork",
      "amount": "0.001 STEEM",
      "memo": "\nWe will support people who will watch our video topic explained by Brother Eli. We have dedicated 24,000 Steem Power to vote for all of your comment. Comment the summary of what we understand on the topic of the day.\nWe invite you to also join our Discord chat.\nhttps://discord.gg/vzHFNd6\n"
    }
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{
  "trx_id": "fad0c4cd40bdd874cf21685381e030a4d6985e10",
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  "timestamp": "2019-05-24T14:39:54",
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    {
      "parent_author": "",
      "parent_permlink": "crypto",
      "author": "ferrumnetwork",
      "permlink": "announcing-the-public-launch-of-kudi-exchange-powered-by-ferrum-network",
      "title": "Announcing the Public Launch of Kudi Exchange — Powered by Ferrum Network",
      "body": "Hello Community Members,\n\nWe are thrilled to announce the official public launch of Kudi Exchange, the “Coinbase + Venmo” of Africa, now available for download in the Google Play store!\n\nKudi Exchange was built from the ground up to be a fast, simple and secure means of buying and selling digital assets, and sending money instantaneously for zero transaction fees. It is all powered by Ferrum Network’s powerful blockchain technology.\n\nWe believe that blockchain technology is only as useful as the problems it solves. So before highlighting Kudi’s primary features, it’s important to understand why we built it.\n\nProblem One: Physical Cash and Bank Apps Are Limited in Terms of Speeds, Costs, and Security\n\nMany emerging markets, including Nigeria, operate largely a cash based economy. The majority of daily transactions are conducted with physical currency, which has inherent limitations in terms of security, portability, and speeds (ever tried to do monthly payroll with a cash-only business?).\n\nAlthough in recent years there have been a proliferation of bank apps to facilitate cashless transactions, many of these apps are unreliable and expensive, levying fees for every transaction no matter how small. Moreover, these bank solutions are often slower than advertised, sometimes taking up to 24 hours to transfer money between accounts.\n\nAnother pain point identified by our early customers were their frequent trips to the bank, which can sometimes be an all-day affair and standing in lines for hours.\n\nTherefore, we saw a need to create an app with instant and free local currency transactions, so people can send money directly to anyone’s SMS or What’s App number, and avoid trips to the bank.\n\nProblem Two: U.S. Dollars are in High Demand but Difficult and Costly to Obtain\n\nFor better or worse, the U.S. Dollar is considered a safe haven asset in many countries around the world. Until the day comes when bitcoin is the global reserve currency, U.S. Dollar will continue to be in demand in emerging markets around the world.\n\nAlthough demand is high, access is a different story. Obtaining U.S. Dollars requires a trip to a local currency exchange, and purchasing at an unfavorable exchange rate. Then there’s the matter of what to do with the physical dollars, store them under the mattress? Of course converting them back to local currency is also a pain.\n\nFortunately, crypto has presented a perfect solution to this problem in the form of stable coins. But not all stable coins are created equal, as some may not be backed by sufficient reserves, while other face legal troubles.\n\nThis is why Ferrum Network and Kudi Exchange have partnered with the most trustworthy issuer of U.S. Dollar stable coins — Gemini — and offer them to our customers right in the app.\n\nProblem Three: Many Fiat-to-Crypto Exchanges Are Costly, with Limited Functionality\n\nBitcoin and other cryptocurrencies are demonstrably popular in emerging markets including Nigeria, and for good reason due to the unstable nature of the local currency.\n\nHowever, fiat-to-crypto exchanges in many of these markets are expensive, and offer only a limited number of digital assets.\n\nMoreover, most exchanges offer a single function: buying bitcoin and Ethereum with fiat. None provide the ability to transfer fiat to other users.\n\nThe Kudi Solution: A Low Cost Digital Currency Exchange with Access to U.S. Dollar Stability Plus Instant Money Transfers\n\nKudi Exchange is West Africa’s own low-cost digital currency exchange where users can buy and sell digital currencies like Bitcoin, and send local currencies like the Naira to friends and family instantly for zero transaction fees.\n\nKudi is the first exchange in Nigeria offering a U.S. Dollar backed stable coin through its work with world-renowned cryptocurrency company Gemini, thereby providing low-cost and easy access to digital U.S. Dollars as a hedge against local currency fluctuation.\n\nPowered by Ferrum Network’s groundbreaking blockchain technology, customers can send local currency and digital currency to anyone’s phone or What’s App number instantly for zero transaction fees in a safe and secure manner.\n\nKudi Business — Free Point of Sale and Payroll System For All!\n\nAnother problem for our customers is a lack of infrastructure for businesses. For example, point of sale systems are relatively rare in many emerging markets due to their high costs and because they are issued by the banks themselves. Moreover, doing payroll in a cash business can take days.\n\nTherefore, we built features into the app we are calling Kudi Business, with revolutionary functions like a free point of sale system and payroll system that can bring any business to the next level.\n\nWith Kudi Business, customers can buy products directly with their Kudi app, and the Naira will appear directly in the merchant’s Kudi account in seconds without ever going through a bank.\n\nFor companies with payroll needs, they can instantly send their employees their weekly or monthly earnings with the push of a button, and Kudi’s sophisticated technology helps keep track of everything.\n\nBe the First to Download and Have a Chance to Win Big!\n\nWe have a built-in referral system that allows you to refer your friends and family by sending them as little as 1 Niara right to their What’s App or phone number! Lucky winners of this referral system will win up to 1 million Niara! The money will be sent right to your Kudi app.\n\nFor those who want to be the first users of this powerful new app, you can download it here!\n\nWhat’s Next\n\nWe will be announcing winners for the Kudi Exchange referral program every two weeks! Also, look out for a bounty program for our early users!\n\nThank you all for your continued support of Ferrum Network and Kudi Exchange. For more information, please refer to the links below.\n\nVery Truly Yours,\n\nThe Ferrum Network Team\n\nLinks:\n\nKudi Exchange App: https://playstore.kudi.exchange\n\nKudi Exchange Site: https://kudi.exchange/\n\nKudi Exchange Telegram: https://t.me/joinchat/H6T8PVgvkBhlDCuU73rDOw\n\nFerrum Telegram: http://telegram.ferrum.network\n\nTwitter: http://twitter.ferrum.network\n\nLinkedIn: http://linkedin.ferrum.network\n\nYouTube: http://youtube.ferrum.network\n\nReddit: http://reddit.ferrum.network\n\nBitcoin Talk: http://bitcointalk.ferrum.network\n\nFacebook: http://facebook.ferrum.network\n\nGithub: https://github.com/ferrumnet/\n\nInstagram: http://instagram.ferrum.network![Screenshot 2019-05-24 at 16.35.51.png](https://cdn.steemitimages.com/DQmYoivH7KoiiPqAMJRGkHipWFH6eGmuxav7T496hTLe83i/Screenshot%202019-05-24%20at%2016.35.51.png)",
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  "trx_id": "5889a7cfef7e252ded19accf8d616252e427743b",
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  "timestamp": "2019-05-16T14:18:57",
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      "parent_author": "",
      "parent_permlink": "crypto",
      "author": "ferrumnetwork",
      "permlink": "kudi-exchange-pre-launch-powered-by-ferrum-network",
      "title": "Kudi Exchange Pre-Launch— Powered by Ferrum Network",
      "body": "Hello Community Members,\n\nWe are thrilled to announce that Kudi Exchange, the “Coinbase + Venmo” of Africa has successfully completed beta testing and will be launching publicly very soon! To celebrate this feat, we are inviting YOU to sign-up early in advance of the official launch.\n\nKudi Exchange was built from the ground up to be a fast, simple and secure means of exchanging digital assets, and for sending money instantaneously for zero transaction fees, all powered by Ferrum Network’s powerful blockchain technology.\n\nLow Cost Digital Currency Exchange, Exclusive Access to U.S. Dollar Stability, and Instant Money Transfers for Zero Transaction Fees\n\nFirst, Kudi allows you to buy and sell digital assets like bitcoin cheaper and faster than ever before.\n\nSecond, it is also the only exchange in all of West Africa where users can purchase a U.S. Dollar backed stable coin directly with local currencies like the Nigerian Naira.\n\nFinally, Kudi lets you send real money to other people using their What’s App or SMS numbers. The best part? The money is sent instantly, and there are zero transaction fees!\n\nKudi Business — Turn Your App Into a Point of Sale and Payroll System\n\nWe have also built features directly into the app for business owners large and small. We are calling it “Kudi Business” and it turns your phone into a powerful point of sale (POS) system and payroll system!\n\nThe days of using an expensive POS system are gone. Kudi Business is affordable for every business owner. It is intuitive and user-friendly, so anyone can use it. And it has security features so you can entrust your employees with it.\n\nKudi Demos\n\nTo see Kudi Exchange in action and start to get an idea for the app’s features please check out these demos.\n\nBe the First to Sign Up and Have a Chance to Win Big!\n\nWe have a built-in referral system that allows you to refer your friends and family by sending them as little as 1 Niara right to their What’s App or phone number! Lucky winners of this referral system will win up to 10 million Niara!\n\nFor those who want to be the first users of this powerful new app, please sign up here!\n\nPublic Launch Next Week\n\nRemember, we will be launching the app publicly next week, so sign up today for early access!\n\nThank you all for your continued support of Ferrum Network and Kudi Exchange. For more information, please refer to the links below.\n\nVery Truly Yours,\n\nThe Ferrum Network Team\n\nLinks:\n\nKudi Exchange Site: https://kudi.exchange/\n\nKudi Exchange Telegram: https://t.me/joinchat/H6T8PVgvkBhlDCuU73rDOw\n\nFerrum Telegram: http://telegram.ferrum.network\n\nTwitter: http://twitter.ferrum.network\n\nLinkedIn: http://linkedin.ferrum.network\n\nYouTube: http://youtube.ferrum.network\n\nReddit: http://reddit.ferrum.network\n\nBitcoin Talk: http://bitcointalk.ferrum.network\n\nFacebook: http://facebook.ferrum.network\n\nGithub: https://github.com/ferrumnet/\n\nInstagram: http://instagram.ferrum.network![Screenshot 2019-05-16 at 16.15.17.png](https://cdn.steemitimages.com/DQmTbdQu5XXgcmBtCJMmVzuvN5ZNqoH6vgYtQyJZ8ayxWmP/Screenshot%202019-05-16%20at%2016.15.17.png)",
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{
  "trx_id": "fa70a607c62d832db908e7c00c90194490fd94fa",
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  "timestamp": "2019-05-12T20:52:33",
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    {
      "parent_author": "",
      "parent_permlink": "crypto",
      "author": "ferrumnetwork",
      "permlink": "ferrum-network-telegram-ama-may-2019",
      "title": "Ferrum Network Telegram AMA May 2019",
      "body": "On May 11, 2019, The Ferrum Network team conducted a live Q&A session in Telegram, hosted by AIG Investors International. We’ve compiled all the question and edited it for our future Ferrum Network community members to read. Some of the questions, answers, responses and sequence of questions may have been edited or modified for clarity and readability. Questions were answered from several community members. We want to thank everyone who participated in asking questions or watched with interest!\n \nMain Participants: Naiem Yeganeh — CEO of Ferrum Network; Ian Friend COO of Ferrum Network; Germaine Ifudu — Ferrum Advisor and Co-Founder of Kudi Exchange; Mike Co-Founder of AIG International; and Crypto Holland Founder Angels Investor Group Entrepreneur.\n\nThe Questions and Answers:\n\nWe have a Live Telegram AMA with the Founding team of Ferrum Network. Naiem, can you give us a brief introduction of yourself, some background on how you got involved in crypto and how you guys started the Ferrum project?\n \n Ian Friend (COO Ferrum Network) — Hey guys, excited to be here!\n \n Naiem Yeganeh (CEO Ferrum Network) — Hi everybody. I am Naiem Yeganeh CEO of Ferrum Network. I first learned about Bitcoin in 2009 while I was doing a PhD in UQ Australia researching distributed database systems. Since I moved to U.S. I’ve worked for: Microsoft, Amazon, and Bloomberg. I started coding the Ferrum Network in 2017 and we started the company in early 2018.\n \n Ian — In terms of how Ferrum Network got started, Naiem and I met in early 2018, while he was working at Bloomberg. By the time we met the Ferrum Network test net was already operable and connected to the BTC and ETH blockchains and could achieve instant peer-to-peer exchanges of those assets over the network. We then won a competition at Consensus 2018 and were one of 5 projects to pitch to investors on the main stage. After that we got some initial buzz and attracted our seed investors. Since then it’s been heads down building out the first of our products that run on the Ferrum Network — Kudi Exchange.\n \n That’s a fantastic accomplishment, and so early in the project.\n \n Ian — Yeah, we were blessed to have that opportunity. It’s now Consensus 2019 and we are excited to come back to the conference better and stronger than ever.\n\nCould you give us a brief overview of what problems Ferrum is aiming to solve?\n\nIan — Ferrum Network was designed to solve the problems of lack of interoperability between the networks, and the slow speeds of blockchains in general, and also the lack of interoperability with fiat. Ferrum Network is designed to connect to any blockchain and works natively with fiat.\n\nHow did you choose or come by the current active Ferrum Network team? How many members in total? \n \n Ian — The team is comprised of experienced professionals across the spectrum from big tech, blockchain, law, finance and the world of ICOs. We chose them based on their experience and the value they bring, so for instance we recently brought on two experts in tokenomics, we also have a team of Fin. Tech pros on the ground in Nigeria for the Kudi Exchange product.\n\nWho are your biggest competitors?\n\nIan — In terms of competitors, each product has its own set of competitors, as does the network itself. For the product that is live with users now (Kudi Exchange) the biggest competitors are Luno, NiaraEx and other similar exchanges in West Africa.\n \n We have differentiated ourselves because we are not only a faster and cheaper digital currency exchange, it is the only in West Africa with access to US Dollar backed stable coin, and the ability to send fiat currency instantly peer-to-peer.\n\nWhat have you done now to set yourselves up for success 5 years from now?\n\nNaiem — Ferrum Network’s focus is on core business metrics to make sure we are going to have a sustainable Fin. Tech business. The main focuses are on growth and our core differentiating technology.\n \nFor more info on the Kudi: https://kudi.exchange\n\nProduct demos: https://www.youtube.com/channel/UCBLGJET0P902_vywOy3PzwA\n\nYou guys are building among other things an Interoperability Network, can you explain a bit how this works and what the advantages are compare to the existing networks?\n \n Ian — Our interoperability network is unique in that we have a patented technology for value transfers across networks using decentralized proxy tokens and value pegs to the underlying asset. Naiem can explain the technology further, but it’s a unique technology based on his years of experience in distributed-database systems.\n\nWhat made you decide to start with the Kudi Exchange and why Africa?\n \n Ian — Africa is the perfect use case and place for our product. Nigeria in particular where Kudi is based, has a population of 200m, 7th hugest BTC volumes in the world, 1st highest google searchers for the word “bitcoin” and even bad exchanges can do $5–10mil volumes per month.\n \n \n And you already had a seed round/private sale if I understood it right?\n\nIan — Yes, we had a seed round back in November, raising $120k. The private sale round is opening up at the end of May or early June.\n\nI know I might be a bit ahead, but any plans on expansion to other regions? If so, how will you make your selection?\n\nIan — Yes, we are already in talks with people in Ghana and Kenya to expand Kudi there. In fact, the app is nearly ready to accept the Ghana dollar and Kenya Shilling. The other reason we did not focus on a more saturated market is because competition is very steep in those places and its very expensive to get licenses there. We had the connections in Nigeria and the market did not have large incumbent players.\n \n However, that being said, our next product UniFyre Wallet will be a worldwide product launched everywhere in Q3\n\nThat makes a lot of sense Ian. Thanks. Think a strong argument is also the weak value of the local currency that drives bitcoin in these countries.\n \n Ian — Yes, which is why we partnered with Gemini to be the only exchange with GUSD available.\n\nIs there already a schedule for the private sale? 120k doesn’t sound like a lot of funding. Do you think this initial investment in your company will be enough to keep you on track for the ICO/IEO?\n\nIan — 120k is not a lot, but we are a very lean start up and have a low cash burn rate. We focused only on the product and business development and guerilla marketing. Once we raise more, we will do a greater marketing campaign.\n\nYou guys are building among other things an Interoperability Network, can you explain a bit how the other platforms work and what the advantages compared to the existing networks/cryptos?\n\nNaiem — This is a question that is hard to answer with the limited time in this Q&A but, overall, we use a method we call decentralized proxy tokens. We have also partnered with Fusion to improve the security of the decentralized proxy solution based on some recent academic publications.\n\nThe big picture is that users will run light weight Ferrum companion nodes alongside other nodes such as Bitcoin, Ethereum and etc.\n\nOne unique feature is that we can interop with any network that uses elliptic curve cryptography (DAG).\n\nAre there a lot of current elliptic curve cryptography networks?\n\nNaiem — Pretty much any Crypto worth the ironic exception of IOTA which our DAG blockchain is based on.\n\nWhat makes the Unifyre wallet different from existing cold wallets and how do you secure this wallet?\n\nIan — UniFyre Wallet is actually a hot wallet but it is unique in that it runs on the Ferrum Network so it cross-chain, extremely fast and super cheap to exchanges/transact any digital asset. Every transaction in the Ferrum Network happens in milliseconds because it is a DAG. It also costs about 1 cent in FRM tokens for that transaction as a gas fee. Therefore, to send 100k worth of BTC you don’t have to pay the bitcoin miner fee. Just 1 cent in FRM network fees.\n \n We have a solution cold-wallets as well. It’s called Sub-Zero Wallet and it’s the most secure and accessible cold storage app on the market. It works with any offline android phone and can interact with our hot wallet and our exchanges. \n \n Sub-Zero Wallet will be released in Q3 as an app. It’s not a hardware wallet per se. But this means it is much cheaper and accessible worldwide. It was designed with emerging markets in mind but will be marketed to the greater portion of crypto enthusiasts, investors and traders.\n\nWhat tokens can u store on the Unifyre wallet?\n\nGermaine Ifudu (TLG Ventures) — The technology can work with any network or coin, but we will be selective on which we enable at launch.\n\nIan — Right now, Ferrum Network is connected to the Bitcoin blockchain, Ethereum blockchain and Ripple network. So, it supports ERC-20 tokens, BTC, and XRP. Next, we’re looking to connect to Binance’s chain, EOS, and some other major chains to support more assets.\n\nCan u tell us something about the listing process on the Exchange?\n\nIan — So for Kudi Exchange, we are being extremely and only listing assets that make sense in that market. For UniFyre, we will list more tokens, but only through a highly vetted process.\n\nDoes it have disadvantages to have ‘shit’ tokens on Ferrum?\n\nIan — No just reputational harm if they are scams. The truth is we want all respected and worthwhile tokens to be tradeable in Ferrum, even the up and coming ones!\n\nHow will you get enough liquidity on the DEX? This seems like a big challenge for a starting crypto with many ideas/platforms already being worked on.\n\nIan — In terms of the DEX that is a longer-term product that we will focus on when the market conditions are ready for a DEX. Ours is very unique in that is a true cross-chain high speed DEX that can compete with the best CEXs but never holds your assets.\n\nHow can we compare your cold storage solution (Sub-Zero Wallet) with the current Ledger device? How is Sub-Zero different and what makes it more secure than Ledger?\n\nNaiem — From the market point of view there is no hardware cost because it’s based on any Android wallet and available around the world. Where-as Ledger is a luxury hardware wallet, there’s a monetary investment that an investor or generic crypto enthusiasts have to acquire a Ledger or Nano.\n\nFrom security point of view:\n\n1. I want my cold wallet to have NO physical or air connection to the internet not even through a USB.\n\n2. We utilize several layers of security, the on device trusted computing unit (through Rivetz), Android encryption and Sub-Zero encryption.\n\n3. We will have 3 out of 3, and 3 out of 5 recovery phrases to drastically reduce the risks of having a single recovery card.\n\nA very important subject is the FRM token, which are spent and burned for every transaction on the network. Can you tell a bit more about the token and how it’s used in the network?\n\nIan — The FRM token is the gas of the network. It’s like Ethereum gas. It is required to be spent and burned for each transaction. For example, when someone on the UniFyre wallet sends BTC to their friend, that will cost 1 cent in network fees. But since there are no miners, it’s not Proof-of-work (POW), rather it’s called proof of burn which require the FRM token be burned to confirm the transaction.\n \n We earn revenue from small fees we charge to use the products. For instance, Kudi Exchange charges about 1.5% every time you deposit or withdraw money to and from your bank account to your Kudi app.\n \n We also have very unique token metrics that allow us to raise a fraction of what other projects raise and yet still hit our roadmap goals. It’s called The Reserve Model.\n\nToken metrics are not published yet, right?\n \n Ian — We think you will love the metrics. They align the incentives of the project and the investors and place more risk on the project and not the investors. We think they represent the future of crypto project fundraising. The available details can be found in our One-pager.\n\nIs it possible to currently run a node on your network?\n \n Naiem — Yes eventually. We are working to release the test net publicly as soon as possible. You can register for the testnet here: https://ferrum.network/testnet.html.\n \n \n Is the Reserve Model already described in the whitepaper? Or will it be elucidated with the token metrics?\n \n Ian — It is not in this version of the whitepaper but will be in future versions. We will be publishing a medium article about it in the next few weeks. But essentially what it does is keep a percentage of tokens locked in the company reserve, and they only get released when we hit certain traction-based milestones and slowly over the passage of time. For example, if we get 100k users on Kudi, a small amount will become available, and so forth. This way our initial circulating supply is very low and the raise is also very low. But we are incentivized to be successful.\n\nAre there any rewards for staking in the future?\n \n Ian — Yes, we are devising very exciting staking model which will be quite beneficial especially in the early months after TGE. We have another article on that coming out later.\n\nWould there be some type of reward or bounty-based system to incentives people to trade on the Kudi Exchange once it’s live?\n \n Ian — Yes we are actually working on a bounty program now to reward people in FRM for referring people and using the app. We will also have a built-in referral reward system into the app which will reward people in actual Naira (Nigerian currency).\n \n BTW, the Kudi Exchange app is going live publicly the week of the 20th!\n\nWhen will this article be ready regarding the staking?\n\nIan — Staking will be finalized a little closer to the public sale. There’s a lot of moving parts and we want to make sure we get it exactly right rather than prematurely rush out a non-optimal structure.\n\nThank you Ferrum team and all participants for your time and effort here. We are looking forward to see the project develop the coming months and hopefully all goals will be achieved the coming year(s).\n\nIan — Thank you, please head over to the main Ferrum chat where we are always happy to answer anyone’s questions!\n\nNaiem — Thank you all!\n\nLinks:\n\nTelegram: http://telegram.ferrum.network\n\nKudi Exchange: https://kudi.exchange/\n\nUnifyre Wallet: https://unifyre.io/\n\nTwitter: http://twitter.ferrum.network\n\nLinkedIn: http://linkedin.ferrum.network\n\nYouTube: http://youtube.ferrum.network\n\nReddit: http://reddit.ferrum.network\n\nBitcoin Talk: http://bitcointalk.ferrum.network\n\nFacebook: http://facebook.ferrum.network\n\nGithub: https://github.com/ferrumnet/\n\nInstagram: http://instagram.ferrum.network",
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      "body": "@@ -486,8 +486,171 @@\n Network.\n+!%5BScreenshot 2019-05-08 at 22.06.08.png%5D(https://cdn.steemitimages.com/DQmS9rQwfPFf5HASN59T3LBCBjDy44nxmpKqPpCtrXU4mt1/Screenshot%25202019-05-08%2520at%252022.06.08.png)\n",
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      "title": "Ferrum Network Airdrop",
      "body": "Dear Community, thank you to those who participated in our airdrop campaign.\n\nDue to unexpectedly high demand, our first batch of tokens has been almost completely accounted for in less than 5 hours. Because of this, we have reconfigured the airdrop and added more tokens to it. Those who participated earlier will still get their full allotment. \n\nGoing forward, please be advised that these are the new terms: https://link.medium.com/laKf9ONUwW\n\nThank you for your support of Ferrum Network.",
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      "title": "Our COO Ian Friend was interviewed by Crypto Koala",
      "body": "Check out the video to find out more about Ferrum Network and also Ian himself.\n\nhttps://www.youtube.com/watch?v=RNlEtZzHZ5A&feature=youtu.be",
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      "author": "ferrumnetwork",
      "permlink": "april-2019-traction-update",
      "title": "April 2019 Traction Update",
      "body": "Dear Ferrum Network Community,\n\nHope everyone had a great month of April! Just a note, we will now be doing monthly traction updates to adequately provide you a critical mass of significant pieces of information each month.\n\nIt’s been exceptionally busy behind the scenes, as we finished developing critical components of Kudi Exchange, brought on new advisors, launched a new Bounty Campaign, partnered with some major projects, and celebrated the release of our Crypto Differ review!\n\nThe Traction\n\nWe are happy to report the following traction for the past month:\n\nContinued technical development of the Kudi app (live in Beta), including a new feature we are called Kudi Business — specialized features within the app designed specifically for merchants.\nKudi Business is now ready to launch. We will start pilot program with four initial merchants in Lagos in the next coming weeks.\nKudi Business works as a substitute of POS (point of sale) systems but is free, instant, and has no physical component.\nKudi Business allows anyone with the Kudi app to start receiving payments on their Kudi app and produce automated receipts.\nWith these business features, Kudi can now serve the massive seasonal and informal economy in Nigeria by removing major barriers from accepting payments and bringing professionalism to those businesses.\nIn addition, we brought on a new technical advisor, Jing Cheng, with substantial background at Google and deep expertise with crypto exchanges.\nWe partnered with Hydro to utilize Hydro’s Snowflake protocol by integrating it into the Unifyre Wallet and later in our Sub Zero Wallet.\nWe partnered with Fusion to enable a faster, more reliable interoperability network by leveraging Fusion’s Distributed Control Rights Management System (DCRM).\nWe received an 8/10 score from Crypto Differ/Midgard Research (without taking into account the new metrics).\nStarted our newest Bounty Campaign now running for the next 3 months\nComing up Next:\n\nAnnouncing the new metrics, hard launch of Kudi Exchange with sponsorship of Nigeria’s largest blockchain conference, and the continuation of our influencer campaign.\n\nOf course this is all gearing up towards a private sale, public round and exchange listing!\n\nThank you for your continued support, and please stay tuned each month for a new traction update.\n\nVery truly yours,\n\nThe Ferrum Network Team\n\nLinks:\n\nTelegram: http://telegram.ferrum.network\n\nTwitter: http://twitter.ferrum.network\n\nLinkedIn: http://linkedin.ferrum.network\n\nYouTube: http://youtube.ferrum.network\n\nReddit: http://reddit.ferrum.network\n\nBitcoin Talk: http://bitcointalk.ferrum.network\n\nFacebook: http://facebook.ferrum.network\n\nGithub: https://github.com/ferrumnet/\n\nInstagram: http://instagram.ferrum.network![Screenshot 2019-05-02 at 23.02.19.png](https://cdn.steemitimages.com/DQmWjqPWRBjh6i8pUe7nZdAQpAnLn3RWJvfiXD6kDEWDj8E/Screenshot%202019-05-02%20at%2023.02.19.png)",
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      "permlink": "welcome-senior-google-engineer-jing-cheng-to-our-advisory-board",
      "title": "Welcome Senior Google Engineer Jing Cheng to our Advisory Board!",
      "body": "Dear Ferrum Network Community,\n\nWe are thrilled to announce the newest addition of our team — Jing Cheng — Senior Technical Advisor!\n\nBackground and Experience: A Perfect Fit\n\nNot only is Jing passionate about the world of blockchain, he has an impressive professional background having worked as a Senior Software Engineer (full stack) at Google for the past 4 years.\n\nBut his experience with cryptocurrencies, and exchanges in particular, is equally as impressive. Jing built and ran a global hedging/arbitrage company deploying various high frequency trading systems/strategies across 20 cryptocurrency exchanges. Moreover, he designed and developed real time reporting and analytics system tracking results of transactions and trades, and developed business relations and setup operations on four continents. Truly impressive stuff.\n\nJing will bring his considerable technical knowledge and experience to Ferrum Network’s interoperability protocol and our product line, including the Kudi Exchange and UniFyre Wallet.\n\nAs we scale up Kudi Exchange and launch the UniFyre Wallet, we are confident that Jing’s expert advice and insight will add tremendous value to the product and the company. We are honored and privileged to have him on the team.\n\nWhat’s Next\n\nIn terms of team members, you’ll be seeing some additional team members come onboard from outside the world of crypto.\n\nWe will also be releasing more information on our much anticipated redesigned token metrics.\n\nAll this activity is leading up to the opening of our private sale! So stay tuned for more.\n\nAnd please check out our updated Bounty Campaign to learn how to get rewarded just for adding value to Ferrum Network ecosystem!\n\nUntil next time,\n\nThe Ferrum Network Team\n\nLinks:\n\nTelegram: http://telegram.ferrum.network\n\nTwitter: http://twitter.ferrum.network\n\nLinkedIn: http://linkedin.ferrum.network\n\nYouTube: http://youtube.ferrum.network\n\nReddit: http://reddit.ferrum.network\n\nBitcoin Talk: http://bitcointalk.ferrum.network\n\nFacebook: http://facebook.ferrum.network\n\nGithub: https://github.com/ferrumnet/\n\nInstagram: http://instagram.ferrum.network![Screenshot 2019-05-01 at 20.28.11.png](https://cdn.steemitimages.com/DQmfZRPBKRYyU2i8FuyR3pqajn6ff8RS3AivS2He5dBE6Ei/Screenshot%202019-05-01%20at%2020.28.11.png)",
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      "title": "New Token Metrics Part 1 — Overview of the Current Market",
      "body": "Dear Ferrum Network Community,\nAs many of you know, we have been hard at work redesigning our token metrics. Over the \ncoming weeks, we will be releasing a series of articles explaining the new metrics: why we \nchanged them, and how they are designed to benefit you — our faithful community \nmembers.\nIn the first of the series, we give you our take on a shift in market trends, identify the \nproblems that arise from this new trend in metrics, and provide a first glance at how we \nare avoiding these pitfalls by designing metrics that support the interests of all \nstakeholders and our long-term vision.\nIf this article ever becomes too technical, do not worry, we are always here to answer your\nquestions on Telegram, so please don’t hesitate to reach out!\nA Shift Toward an IEO-like Structure, and its Pros and Cons\nDuring the last few days, we have seen investor sentiment becoming more positive \ntogether with a surge in the crypto market with bitcoin leading the way. At the same time, \nthe interest in ‘initial coin offerings’ (ICOs), rose as well.\nOne of the biggest reasons for this shift in sentiment is the revival of ‘initial exchange \nofferings’ (IEOs) initiated by Binance, and the associated returns for investors. With the \nIEO structure becoming more popular, we also saw a shift in what investors consider to be\na good token sale structure.\nIf you want to conduct an IEO you need to optimize for it. In practice, this often means \nreducing the circulating supply after the token sale to a relatively low amount (often <5% \ntotal supply) and then release the remainder of the tokens over a longer period of time.\nWe are seeing three essential problems arising from such a structure:\n1.\nIn order to profit from this development, projects that are currently raising funds \ndecided to suddenly change the terms for their massive private sale and lock private \ninvestors’ tokens for a long period of time, even if the new terms are totally different \nfrom the initial terms;\n2.\nThese projects change their structure in a way that cripple the mid-to- long-term \nappreciation of their token, and only focus on the short term. IEO investors started \n“flipping” their coins again and only try to make an instant profit. When the tokens of \nprevious investors unlock, they are almost always worth significantly less; and\n3.\nIn order to optimize for the short term, projects tend to release all important news, \nbeneficial structures like staking, and partnership announcements before the IEO. This\noften results in them not having any fire power left for the post-TGE period.\nThe reason why many projects make these changes is quite simple: they raised too much \nmoney in the past and provided instant liquidity to previous investors. This makes it highly \nuninteresting for current investors who are looking to invest in low valuation projects and \ntoken supply. Everyone is becoming more realistic during the bear market.\nIdentifying and Avoiding the Pitfalls\nFunny enough, with the new hype around IEOs, investors are supporting higher valuation \nprojects again, and it has become easier for projects to raise more capital. On its face, it \nmight make sense to stick to our $6m hard cap and keep our initial sales structure, right? \nEven after completing our seed, private and public round, we would launch with an initial \nmarket cap low enough to allow for proper appreciation.\nIn theory, yes. But using an antiquated sales model and hoping for the best is not an \nadequate plan.\nIn our opinion, the current prevailing structures pursued by projects do not sufficiently \nbenefit the stakeholders. Raising too much, having an unsustainable valuation, thinking \nshort term, and making self-interested decisions is a quick way to extinction.\nWe want to take a different approach, a better approach. So we designed metrics that are \nmeant to fit this current market, and are fully optimized for both the short and long term, \nbut do not sacrifice one for the other.\nWhat’s Coming Next for Our New Metrics\nWithin the next weeks and in a series of articles we will announce our new token sale and \ndistribution structure.\nThe new design will not only be optimized for both the short and long term vision of \nFerrum Network, but also be integrated into an overall strategy to avoid the pitfalls \nmentioned above, and fit nicely into the demands of the market. Each and every step of \nthe token sale structure will be supported by corresponding actions and releases by \nFerrum Network.\nLet us give you a first glance into what is coming:\nThe hard cap will be significantly reduced, and with that a reduced market \ncapitalization after the token sale;\nProper lock-ups for company tokens will be introduced in order to show our full long-\nterm commitment, and provide a positive effect on the available supply;\nThe terms for sales rounds are adjusted for better short term alignment, while also \nimproving those terms;\nAnd much more to come!\nExcited? Be sure to join our Telegram community to not miss the next update and the \nrelease of your new structure!\nIf you want to learn more about Ferrum then be sure to check out our new Bounty \nProgram and learn more about the project while also earning some tokens!\nVery Truly Yours,\nThe Ferrum Network Team\nLinks:\nTelegram: http://telegram.ferrum.network\nTwitter: http://twitter.ferrum.network\nLinkedIn: http://linkedin.ferrum.network\nYouTube: http://youtube.ferrum.network\nReddit: http://reddit.ferrum.network\nBitcoin Talk: http://bitcointalk.ferrum.network\nFacebook: http://facebook.ferrum.network\nGithub: https://github.com/ferrumnet/\nInstagram: http://instagram.ferrum.network![Screenshot 2019-04-26 at 20.44.50.png](https://cdn.steemitimages.com/DQmR2UbMNnWTT4f5BdTTap4tVen3RcruwY4Qxiq4xYE5Qi2/Screenshot%202019-04-26%20at%2020.44.50.png)",
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  "timestamp": "2019-04-25T23:22:51",
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      "parent_author": "ferrumnetwork",
      "parent_permlink": "ferrum-partners-with-hydro",
      "author": "cheetah",
      "permlink": "cheetah-re-ferrumnetworkferrum-partners-with-hydro",
      "title": "",
      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://www.unlock-bc.com/news/2019-04-24/hydro-protocol-and-ferrum-network-partner-for-network-identity",
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  "timestamp": "2019-04-25T23:22:48",
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{
  "trx_id": "675826c8d4e7d9e8cc9b6d8252fe44ab1c6273cf",
  "block": 32366325,
  "trx_in_block": 4,
  "op_in_trx": 0,
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  "timestamp": "2019-04-25T23:22:39",
  "op": [
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      "parent_author": "",
      "parent_permlink": "ferrumnetwork",
      "author": "ferrumnetwork",
      "permlink": "ferrum-partners-with-hydro",
      "title": "Ferrum Partners with Hydro!",
      "body": "Dear Ferrum Network Community,\n\nWe are thrilled to announce that Hydro is now a proud partner of Ferrum Network! Hydro is an open source blockchain project comprising of multiple smart contracts (protocols) building innovative blockchain solutions for identity, security and payments. As such, it’s a perfect fit for what we are building at Ferrum.\n\nFerrum Network will utilize Hydro’s Snowflake protocol by integrating it into the Unifyre Wallet and later in our Sub Zero Wallet. In other words, this partnership will integrate Hydro technology into Ferrum Network’s identity authorizations, risk-free transactions and cold storage management.\n\nAs always, we are committed to bringing you the best products and integrations. Our partnership with Hydro brings us one step closer to empowering millions of users around the world with blockchain-based financial applications. Discover more at and ferrum.network and projecthydro.org\n\nVery truly yours\n\nThe Ferrum Network Team\n\nP.S.\n\nIf you like this, check out our newest Bounty Campaign to earn tokens for adding value to the Ferrum Network ecosystem!\n\nImportant Links:\n\nTelegram: http://telegram.ferrum.network\n\nTwitter: http://twitter.ferrum.network\n\nLinkedIn: http://linkedin.ferrum.network\n\nYouTube: http://youtube.ferrum.network\n\nReddit: http://reddit.ferrum.network\n\nBitcoin Talk: http://bitcointalk.ferrum.network\n\nFacebook: http://facebook.ferrum.network\n\nGithub: https://github.com/ferrumnet/\n\nInstagram: http://instagram.ferrum.network![Screenshot 2019-04-26 at 01.15.23.png](https://cdn.steemitimages.com/DQmanrvKci6WqH21fomK8wWA5f8gGxzCmZaNdoE7okR4E7U/Screenshot%202019-04-26%20at%2001.15.23.png)",
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  "timestamp": "2019-04-25T23:13:33",
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      "parent_author": "",
      "parent_permlink": "ferrumnetwork",
      "author": "ferrumnetwork",
      "permlink": "crypto-beadles-x-ferrum-network-interview",
      "title": "Crypto Beadles X Ferrum Network Interview!",
      "body": "Hello Ferrum Network Community,\n\nOn Friday April 5, 2019, Naiem and I had a blast being interviewed by one of the most respected and trusted influencers in crypto — Crypto Beadles!\n\nWe want to thank Robert personally for not only putting together a great interview, but for being a great overall guy who has been pushing the space forward in a positive direction since the early days. Keep it up!\n\nThe Interview\n\nYou can check out the You Tube interview to hear our wide ranging discussion of our high-speed interoperability network that connects to any blockchain, and the products running on top of our network — the Infinity DEX (high-speed cross chain DEX), UniFyre Wallet (non-custodial wallet for risk-free OTC trading), Sub-Zero Wallet (ultra cold storage on an offline Android phone) and the Kudi Exchange (Africa’s 1st fiat gateway + fiat payments app with native support for U.S. Dollar stable coin).\n\nWe hope that after watching the interview you will have a greater understanding of what why we decided to tackle the problems of interoperability and scalability, and how our products are already solving real-world financial problems for thousands of people.\n\nHow to Earn $100 in ETH\n\nAlso go to the video on Crypto Beadles You Tube channel and follow the steps for a chance to win $100 ETH from the Crypto Beadles himself!\n\nHow to Earn $10 in FRM Tokens\n\nCheck out the Get Schooled Bounty Part 2 for information on how to earn $10 in tokens just for learning about Ferrum Network and inviting your friends to the community.\n\nThanks for watching!\n\nVery truly yours,\n\nThe Ferrum Network Team![Screenshot 2019-04-22 at 13.45.14.png](https://cdn.steemitimages.com/DQmYpDeSFZJrBHqcbJkdh82ssrZVmazcUrhvPNjwhhd5k2a/Screenshot%202019-04-22%20at%2013.45.14.png)",
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{
  "trx_id": "f3b0fc8f440d34da11f92ca148a68e50a1927611",
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  "timestamp": "2019-04-25T11:39:54",
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      "parent_permlink": "ferrumnetwork",
      "author": "ferrumnetwork",
      "permlink": "ferrum-network-x-latitude-blockchain-services",
      "title": "Ferrum Network X Latitude Blockchain Services",
      "body": "Hello Ferrum Network Community,\n\nWe are pleased to announce that Latitude Blockchain Services — a premier blockchain accelerator, marketing and advisory firm — has joined the Ferrum Network family!\n\nHeaded up by Bradley Townsend and brothers Corey and Rick Billington, Latitude has become a clear leader in the industry, having worked with top projects including Celer, Fetch AI and Celsius. It is an honor and privilege to be in such esteemed company.\n\nStarting today, you’ll be seeing our dear friend Bradley Townsend adding his singular brand of community management skills to the Ferrum Network Telegram chat. Moreover, Latitude will be leveraging their vast network and working hard behind the scenes as we move closer to our public sale, launching more of our products, our mainnet and far beyond.\n\nSo please give Bradley and his team at Latitude a warm welcome!\n\nAnd as always, thank you for your continued support of Ferrum Network.\n\nVery truly yours,\n\nThe Ferrum Network Team![Screenshot 2019-04-24 at 18.19.26.png](https://cdn.steemitimages.com/DQmcZHBefPu4yL2xgawzT3bmmR5j4BNKGJxjqAMu5PhWRiG/Screenshot%202019-04-24%20at%2018.19.26.png)",
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      "parent_author": "",
      "parent_permlink": "ferrumnetwork",
      "author": "ferrumnetwork",
      "permlink": "ferrum-network-teams-up-with-vectorblocks",
      "title": "Ferrum Network Teams Up with Vectorblocks!",
      "body": "Hello Ferrum Network Community,\n\nWe are proud to announce that Vectorblocks has joined the Ferrum Network advisory team! Led by some of the smartest and hard-working guys in the industry, Vectorblocks is a global strategic advisory with a focus on long term vision, custom-made strategies, and trust-based relationships.\n\nIn this article, we quickly explain the basis for our decision to join forces, and give you a sneak peak at what we’ve been doing together behind the scenes.\n\nMatching Values\n\nA long term approach, transparency and honest business practices are the cornerstones of Ferrum Network. Similarly, Vectorblocks understands that long term thinking is crucial to a company’s success. We are fortunate to have filled out our advisory team with guys who share our values, and believe in building something for the future.\n\nImmediately Adding Value: Innovative Token Metrics\n\nSince coming on board, Vectorblocks have been working around the clock developing innovative token metrics that support the long term goals of the company, and which fit perfectly in the current market. Without revealing too many details, the metrics are designed to support long-term price appreciation, incentivize and reward early investment, and facilitate global adoption of our token and products.\n\nCustom Strategies for Long Term Growth\n\nWhether its developing unique marketing strategies, IEO/ICO planning, exchange listings, or helping with product/market fit, Vectorblocks will be supporting Ferrum Network across the board. We know that as Ferrum Network continues to grow in all areas, Vectorblocks will be there to provide valuable advice and support along the way.\n\nUp Next\n\nYou’ll continue to see announcements and updates as we ramp things up, including the release of our new metrics and private sale information…\n\nUntil then, please enjoy our new “Get Schooled” bounty program and please give Willem and Robin a shout out in the Telegram group!\n\nVery Truly Yours,\n\nThe Ferrum Network Team![Screenshot 2019-04-24 at 18.22.24.png](https://cdn.steemitimages.com/DQmfHNznNCHUUej32ejiaHaw78jLrXs8fc62gxjskExfxvC/Screenshot%202019-04-24%20at%2018.22.24.png)",
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  "trx_id": "cd9e8679b13037459a0028c7cf9c9920951d1e5b",
  "block": 32350923,
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  "timestamp": "2019-04-25T10:32:15",
  "op": [
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      "parent_permlink": "ferrumnetwork",
      "author": "ferrumnetwork",
      "permlink": "march-29-2019-weekly-traction-update",
      "title": "March 29, 2019 Weekly Traction Update",
      "body": "Dear Ferrum Network Community,\n\nHope everyone had a great week! It’s been really busy behind the scenes for us this past week as we brought on new advisors, launched a new bounty campaign and celebrated the release of our first project review.\n\nThe Traction\n\nWe are happy to report the following traction for the past week:\n\nContinued technical development of the Kudi app (live in Beta)\nAdded support for Gemini Dollar, including the buy/sell/send functions\nPerfecting code in prep for public launch — targeting 2nd week of April\nDecentralised Chain YouTube review released\nLaunched the “Get Schooled” bounty program\nSecured booth and speakers at Nigeria’s largest blockchain conference in May\nBrought on Vectorblocks as strategic advisors\nFinalizing new and improved token metrics\nInvestment committee review stage for a major fund in Zug “Crypto Valley” Switzerland\nComing up Next:\n\nNew token metrics, hard launch of Kudi Exchange, and start of the influencer/marketing campaign!\n\nThank you for your continued support, and please stay tuned each week for a new traction update.\n\nBest regards,\n\nThe Ferrum Network Team![Screenshot 2019-04-24 at 18.20.29.png](https://cdn.steemitimages.com/DQmSLrrW96jf6LQbnjv1Po5ELpo5UEWzzhaZPcGiid7TaVm/Screenshot%202019-04-24%20at%2018.20.29.png)",
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{
  "trx_id": "9b8920ea87acd647264c52f243b1a01cb200f1d3",
  "block": 32350585,
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  "timestamp": "2019-04-25T10:15:21",
  "op": [
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      "parent_author": "",
      "parent_permlink": "ferrumnetwork",
      "author": "ferrumnetwork",
      "permlink": "kudi-exchange-coinbase-venmo-for-emerging-markets-live-in-beta",
      "title": "Kudi.Exchange — “Coinbase + Venmo” for Emerging Markets — Live in Beta!",
      "body": "Hello Ferrum Network Community,\n\n\nWe are pleased to announce that Ferrum Network’s first product — Kudi.Exchange — is now live in beta testing with over 400 users in the pilot and 2500 more signed up! This is big news for Ferrum Network because we built and launched a world-class exchange and payments product on a seed budget.\n\nBut it is even bigger news for the people of West Africa who for the time first time can purchase a U.S. Dollar backed stable coin with fiat and send fiat currency peer-to-peer instantly with no third-party intermediaries. We are proud to introduce Kudi.Exchange — A Digital Currency Exchange + Peer-to-Peer Payments App with U.S. Dollar Stability.\n\nIt’s a Fiat Gateway, But Runs on the Ferrum Network\n\nWhat is Kudi.Exchange? It is a fiat-to-crypto exchange + mobile payments app based in Nigeria that runs on top of our network. With Kudi, users can buy digital assets directly with fiat. It is the fastest, lowest cost and most advanced digital currency exchange in Nigeria.\n\nWhy Nigeria? Nigeria is a massive crypto market. It has the 7th highest BTC volumes in the world, 1st in Africa, highest Google searches in Africa for “bitcoin”, a population of 200 million with 50% under the age of 35, and an existing financial system that is ripe for disruption.\n\nCompeting exchanges that offer far less regularly achieve $5 million USD in monthly volumes. With such a large market with low incumbent competition, we look forward to offering this product to millions of customers.\n\nFaster Speeds, Lower Costs\n\nHow do we achieve millisecond transactions at lower cost than our competitors? Simple — the backend of Kudi.Exchange is running on the Ferrum Network — a high-speed interoperability designed for low cost financial applications. This means users can buy/sell/send digital assets faster and for less network fees than other exchanges.\n\nThe Only Exchange In West Africa to Offer U.S. Dollar Stable Coin\n\nWhat else makes Kudi.Exchange special? It is the first and only exchange in West Africa to offer a U.S. Dollar backed stable coin through our co-marketing partnership with Gemini: http://www.bit-cointalk.com/2019/01/11/ferrum-network-gemini-bring-gemini-dollar-west-africa/\n\nLike many emerging markets, the demand for U.S. Dollars in Nigeria is high, but physical dollars are difficult and costly to obtain. Now for the first time, Nigerians can access digital U.S. Dollars through an app. They can rest assured those assets are backed by a fully-regulated trust company, Gemini.\n\nOur market tests indicate that demand for a U.S. Dollar stable coin is incredibly high, and we are proud to offer our customers easy access to this critical safe haven asset.\n\nIt’s Also An Instant Peer-to-Peer Payments App\n\nPerhaps the most exciting aspect of Kudi has nothing to do with cryptocurrencies. Remember — the market for people who deal only in fiat is far larger than those interested in digital currencies.\n\nTherefore, Kudi also functions as a peer-to-peer mobile payments app for instant fiat money transactions. Our customers can now send Niara to each other instantly with no banking intermediaries at a fraction of the cost of a traditional bank app.\n\nHow is this possible? The Kudi.Exchange mobile wallet also doubles as a payments app. Users simply deposit their Niara into the app, enter the address of the recipient, and “send”. Customers can also send money to non-customers through their phone number or What’s App number, and the recipient will be prompted to download the app to receive the money. Since this all runs on Ferrum Network tech, the Niara is transferred in milliseconds, and it never goes through a third-party.\n\nNormal banking apps in Nigeria can take up to 24 hours to send money, and charge fees on everything from minuscule transactions to using cellular data! With Kudi, users can now send Niara instantly peer-to-peer at a fraction of the cost. We are now talking to merchants who are interested in using this app to replace costly point-of-sale system, and who want to incorporate a fast, cheap, mobile payment solution.\n\nMore Transactions = More Burned Tokens\n\nWhat does all of this mean for token holders? Well for now the exchange is running on a limited private mainnet. But when the full mainnet goes live in a few months, users will be spending FRM tokens for every transaction. Remember: every transaction that runs on the Ferrum Network burns FRM tokens.\n\nWith thousands of Nigerians sending Niara to each other, and buying/selling digital currencies, this will have an immediate positive impact on the Ferrum Network ecosystem.\n\nIn other words, Ferrum Network will be the first project with users, daily transactions and network utility on day 1 of main net launch.\n\nDesigned to be Replicated in other Markets\n\nFinally, the best part is that this solution is not limited to one country. The technology is designed to replicated. We can easily import this solution to other emerging markets, and partner with existing exchanges who want to incorporate a U.S. Dollar stable coin and instant peer-to-peer fiat payments. And since it all runs on the Ferrum Network, the more we expand, the more it benefits the ecosystem.\n\nThank You to Everyone Involved\n\nWe want to thank TLG Ventures for being the driving force behind Kudi.Exchange. We also want to thanks all of our pilot users who are making sure the product is as great as it can be — you know who you are. Finally, we want to thank the Ferrum Network community for sticking with us since the early days. We could not have done this without you.\n\nComing Up Next\n\nSince Kudi is still in the pilot, we will be sending weekly traction updates on our progress. You’ll also get updates on specific aspects of Kudi, including our user acquisition strategy, and expansion into other countries and other services (e.g. merchant point of sale).\n\nOf course all of this is leading up to a token sale (details to be released soon) so YOU can get involved in Ferrum Network!\n\nVery truly yours,\n\nThe Ferrum Network Team![Screenshot 2019-04-22 at 13.41.48.png](https://cdn.steemitimages.com/DQmRUGBV9aGBCk4pA1dMTEYMjbdUQ4JCyo3Ue5M2KskEVX3/Screenshot%202019-04-22%20at%2013.41.48.png)",
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