Ferrum Network AMA — Hosted by UniFarm

Check out our very own, Ian Friend’s, AMA hosted by multi asset staking protocol, UniFarm.

Nick Odio

Published in

FerrumNetwork

11 min readJun 26, 2021

Ferrum Network <> UniFarm AMA

Srikanth: Welcome to UniFarm Community @ifriend05👋

Thank you for joining us today!

Ian: Hi everyone, thank you so much for having me!

Srikanth: Pleasure to have @ifriend05, Co-Founder and COO of Ferrum Network with us for an AMA here!

Ian: Just witnesssed an awesome AMA in the Ferrum channel with @ShashwatEternal answering some great questions…going to be hard to live up to that!

Srikanth: yeah your community is really fab with the questions 😍😍🥳

Ian: We are good to go now!

Srikanth: Can you please introduce yourself to the UniFarm Community @ifriend05?

Would love to hear more about your background and stuffs 🔥

Ian: Absolutely. So my name is Ian Friend and im the Co-Founder of Ferrum Network. Prior to founding Ferrum I was working as a lawyer in New York City where I co-founded the blockchain practice team of an 800 attorney global law firm. Shortly after I met my co-founder at a networking event and we decided to team up. A few months later, we won a competition to pitch Ferrum at Consensus 2018, the biggest blockchain conference in the world. From there, things really took off. Hard to believe that was over 3 years ago. But since then we have built Ferrum into one of the industry leading blockchain-as-a-service projects, providing staking, anti-bot, and soon token bridge technology to hundreds of partner projects. We also have a successful incubator where we incubated some big names in the space like Bondly, Netvrk, Poolz and more. We are now looking forward to launching the first multi chain token bridge for near-instant swaps between ETH, BSC, Matic with more chains coming. Been a long journey but we are still just getting started!

Srikanth: That’s really an inspiring journey from lawyer to a CO-Founder 😍😍

Ian: Thank you! I really believe that anyone can succeed in this space regardless of background. Just follow your dreams and keep working hard everyday. Great things can happen.

Srikanth: Yes exactly.. Crypto & Blockchain space is for everyone 🥳

Let us start with our moderator questions now. Are you ready?? @ifriend05

Ian: Yes i am!

Srikanth: 1.The crypto incubation space is plagued with unnecessary stress caused by flawed policies, so what makes Ferrum Cross Chain Incubation a stress free process ?

Ian: We agree there are many problems in the launchpad/incubation space, starting with the projects being launched by many of these launchpads. And while we do not have a perfect track record in terms of price performance on all our projects, we have only launched projects that have a working product, legitimate team, and passionate communities. Secondly, many launchpads/incubators are difficult to participate in because they are usually first come first serve and/or have very high token holding requirements. Our incubator is a stress free process with each investor being given 72 hours to participate in a pre sale. Also, our token holding requirements are reasonable (25,000 FRM/.02 FRMx) to get a GUARANTEED minimum $250 allocation (usually much higher). And our lottery tier 50% of the people win (often times 100%). We also construct token metrics that are ideally suited for pre-sale investors, with low initial market caps and reasonable vesting periods. Those are just a few of the reasons many of our incubated projects have done 60x-100x from our pre sale prices.

Srikanth: This is really a fair launch process and i am impressed to see the progress of the launched projects. Great Team 💪🏼💪🏼🥳.

Now moving on to next question

2. Ferrum Network has 2 tokens FRM & FRMx ,can you please share the utilities of both the tokens with our users?

Ian: Another thing is we provide long term support to these projects because our interests are aligned over the long term. For example, nearly all our incubated projects launch with fully implemented staking technology (courtesy of us). Also, we protect their launches from bot snipers with our anti bot technology. Then we help them with ongoing marketing and other support. So our investors can be confident knowing that we will support these projects over the long term.

Yes for FRM is our primary utlity token. It has at least 6 utilities at the moment, the primary ones being staking, monthly holder rewards and access to pre sales. Soon, it will be used as the gas of our forthcoming cross-chain token bridge. And later, it will be used as the gas of our cross-chain main net network. Each time FRM is used as gas, it is burned. Therefore our whole ecosystem is deflationary.

FRMx is our governance and rewards token. You hold it to access our governance committee and help shape major decisions. You also hold it in order to obtain monthly rewards (minimum to obtain such rewards is 50,000 FRM/1 FRMx, but the more you hold the more rewards you earn, all the way to 50% APY). Finally, you hold it to acces pre sales. 0.2FRMx/25,000 FRM is the minimum to get GUARANTEED access to all our private sales.

Srikanth: i am really excited for the Cross-Chain Bridge 🔥🔥

Ian: Its going to be an industry game changer. Keep in mind any team can use it in order to make their token a cross chain token. So its a whitelabel solution just like our staking tech. Theres huge demand for teams to go on BSC and Polygon right now. This bridge allows for that. Also its a whitelabel product so it exists on the project’s website. Meaning no need to trust a random third party website. The best part is that it uses the project’s native tokens as gas. So it creates instant utility for the project tokens, and allows that project to become multi chain in an instant. Game changer IMHO.

BTW you can all earn good money just for referring us projects to use our tech!

Srikanth: Now i would like to ask about the allocations during the sales…

3.Depending on the holding requirements for allocations, there is a chance that few users split their wallets to get higher allocations. How Ferrum Network is dealing with this?

Ian: In order to qualify for pre-sales you need to hold your Ferrum on our mobile non-custodial wallet called UniFyre Wallet. Although its a decentralized wallet, we can still track the movement of tokens and can see if people are attempting things like wallet splitting or if they sell their FRM/FRMx before the distribution of the project’s tokens (thats the rule — must hold until first distro). If people break the rules, we simply issue them a refund of their investment, and then provide a bigger allocation to anyone who added 10,000 additional FRM to their wallet within a specified time period. Therefore, we are able to reward our most loyal community members and solve the problem of people who dont play by the rules.

Srikanth: As you pointed out the UniFyre Wallet , would love to know more about it …

Our users also would be excited to know more about your UniFyre wallet.

4.Can you please share how UniFyre is going to be your gateway to Ferrum’s innovative product line for investing, transacting, exchanging and storing any digital asset ?

Ian: So UniFyre is one access point to the Ferrum Network ecosystem. For instance, it allows you to participate in pre sales, and has incredible technology like “Link Drops” — sending crypto anywhere using a link (ill show you now). But UniFyre is actually not the primary gateway to the Ferrum ecosystem. We are building a massive new product that will truly tie all our ecosystem together with access to presales, a leaderboard, staking of any asset, the token bridge, monthly reward system and so much more. That product is in development but will finally tie the entire Ferrum ecosystem together, which along with our cross chain main net, will propel Ferrum to the next level.

Srikanth: WOW … Really excited to see how the “ Link Drops” work 😍😍

Ian: ill send a link right now

Its the only wallet on the market that allows you to send crypto over Telegram, Twitter, What’s App, messenger or even email.

Its how we distribute monthly FRMx holder rewards to our hodlers. Via a link in an email. Theres no tech out there like that.

Srikanth: I didn’t know this 😢… That’s an awesome wallet 🔥🔥

Ian: People think that since we had great success with pre sales that we are just an incubator. This is far from the truth…we also have industry leading techology. This will be on display soon with the launch of our token bridge next week.

If anyone wants to find out WHEN the Ferrum cross chain token bridge will launch, you can watch this TikTok!

Srikanth: you are making me a big fan of your project 🥳🥳😍

Ian: Thank you! We are big fans of your project as well! Very happy to be a part of this cohort and we hope to be part of many more in the future!

Srikanth: Surely a great partnership with you guys and a long way to go 🤝🥳

Now moving on to the final question…

Just a reminder to all the Unifarmers

Get ready with your Community Questions .we will unmute the group after this question 😊

Ian: oh boy haha

Srikanth: Here we go 😄

5. Would love to know your next milestones , can you please share your roadmap with our community?

Ian: So the big one is obviously the cross-chain token bridge which is launching next week. But shortly after that we will be launching our revolutionary leaderboard which will allow us to reward our top community members in incredibly innovative ways…including through our upcoming “Iron Melt” initiative…which I will explain in a moment after I drop this hype video here…

https://www.youtube.com/watch?v=1oqbRjJdTzg

Srikanth: I cant stop myself from watching this video 😍

Ian: The Iron Melt is an upcoming initiative that combines FRM token burns, FRMx buybacks, and revenue sharing in our successful line of DeFi products via The Crucible Staking….which will have up to 100% APY and still allow access to our pre sales.

It basically ensures that our community will get to share in our success. Ferrum is a profitable business through all our products. Now our community will get to share in that success via increased APYs and major token buybacks which will then be distributed to stakers.

Srikanth: Allowing the users to get access to pre sales along with staking is attracting me now🥳😉

Ian: You can finally have your cake and eat it too!

But to qualify, you need to be among the top 100 (or potentially 200 holders). This is where the leaderboard comes into play. But probably wise to start accumulating now!

There will also be a lottery tier

And normal staking for the rest of our community

We also have 2 exciting pre sales coming up

Actually many more than 2, but I can only reveal 2 right now because the rest are in stealth mode

https://www.youtube.com/watch?v=3CdoKGqBkSQ

Srikanth: A great learning to take home from a great project like Ferrum Network today ❤️❤️

Ian: https://www.youtube.com/watch?v=asEiM8kDYyc

Manga and Revolve Games are projects that FRM holders will have exclusive access to their private rounds. These projects are both excellent. With top notch token metrics and very low initial marketcaps. Typically $150,000 — $300,000 initial mcaps. Tremendous upside and long term potential because they have legit products….but invest at your own risk and DYOR. Not financial advice.

Srikanth: Ill get my bags ready now 😍🙈

Ian: Alright!

Srikanth: Now we will be opening the chat for the community members to ask the questions.

Hope you are ready for this!

Ian: i hope so!

Srikanth: Unmuting now!!

Community: Do you have a Burning Token plan to increase Token value and attract Investors to invest?

Ian: Yes. Our token bridge uses FRM as gas, and that FRM gets burned. Even if we charge 3% in bridge fees, if the bridge is doing $100,000 a day in volume, that would be $3,000 in FRM burned each and every day. That really adds up over time and creates major deflationary pressure.

Community: Revenue is an important aspect for all projects to survive and maintain the project / company. What is the way to generate profit / revenue of token? What is the income model?

Ian: Ferrum has been a profitable business for over 1 year…we basically sell all our products to other projects for a fee. We have close to 100 projects that have used our staking technology for example. And our incubator is also a major source of income since we take a stake in those projects and many have done incredibly well….we are now going to be taking a portion of that revenue and buying back FRMx to give our to stakers as staking rewards. So everyone can share in our success.

Community: Which do you think is more important: ✅Community.✅ Investors.✅Token Price.If all of the above is important to you which should come first??

Ian: I believe that if you do right by your community and your investors, and you give them reasons to hold the token, then your token price will eventually sort itself out. At Ferrum, we give our community many reasons to hold the token, whether through staking, monthly hodler rewards, access to pre sales, buybacks and burning. We are also very engaged with the community. I know all our major investors personally. This has been the secret to our success over the past 3 years as thousands of projects have come and gone. We have persisted and succeeded. This was due to our devotion to our investors and community.

Community: How many types of Staking can be done in Ferrum ecosystem? What is the Minimum requirements to stake

FRM?

Ian: We have many different kinds of staking technology. In fact Ferrum was a pioneer in the world of smart contract based staking because we launched our first “DeFi” staking technology in November 2019…before “DeFi” was even a term! Since then we have launched 4 other kinds of staking technology like liquidity staking, NFT staking, VIP staking and multi token staking. Around 100 projects use our staking technology and at least $50 million TVL has gone through our staking pools in the past year.

Community: How important is the community to you? and how can we collaborate or help you for the development of the project?

Ian: Our community can help us in many ways by supporting us on social media, participating on our pre sales, and just being bullish on the project even when token price is down. But the real question is how we can give back to you! We are doing this now through our increased referral fees. If you refer us a project, you will make money. Its that simple!

Srikanth: Well the community round was really Amazing!

Got to know a lot about the Ferrrum Network and their upcoming milestones

Please Share your Socials with our Community @ifriend05

Ian: Yes will do!

Srikanth: Meanwhile let me promote $FRM staking on UniFarm🥳

Ferrum Website: https://ferrum.network/

Ian: Telegram: http://telegram.ferrum.network

Twitter: http://twitter.ferrum.network

UniFyre Twitter: https://twitter.com/UnifyreWallet

LinkedIn: http://linkedin.ferrum.network

YouTube: http://youtube.ferrum.network

Reddit: http://reddit.ferrum.network