Ferrum Network (FRM) Iron Mountain Staking Overview

Dear Community, we are thrilled to announce that Iron Mountain staking will open on Tuesday February 2, 2021 at 6pm UTC. But before staking opens, we wanted to provide critical information on the structure, rewards, and requirements of Iron Mountain Staking. Enjoy!

There will be three staking pools: Everest, Fuji, and Kilimanjaro, each with different terms. Everest staking is a VIP staking pool reserved for those who contributed larger amounts in Operation Iron Mountain. Fuji is a VIP staking pool reserved for those who contributed lower amounts into Operation Iron Mountain. Kilimanjaro is a pool that is available to the general public.

The team will email Iron Mountain participants to inform them of whether they can stake in Mt. Everest or Mt. Fuji. For VIP stakers, you must stake using the same wallet you contributed from.

Requirements for Staking

Here are the requirements to be aware of.

Metamask or Unifyre Wallet: FRM Staking requires the ERC-20 wallet extension Metamask, which will automatically link to our staking contracts. This is the wallet you will contribute from if you opt to use the web-based site of iron mountain staking and where rewards will be distributed upon withdrawal. If you choose to use Unifyre wallet to stake you can do so directly on the app (Remember: you need some ETH in your wallet to cover gas fees)

For assistance on setting up a Metamask, please contact a Ferrum team member or the Metamask team directly.

The Staking Pools:

There will be three staking pools: Everest, Fuji, and Kilimanjaro, each with different terms.

Everest Staking Terms

• Full Rewards: 150% annualized
• Full maturity: 90 days
• Early withdrawal starts: 30 days
• Early withdrawal reward starts at 40%
• Pool size: 500 thousand FRM
• The time period to contribute: 3 days
• The maximum amount staked: 12000 FRM

Fuji Staking Terms

• Full Rewards: 150% annualized
• Full maturity: 90days
• Early withdrawal starts: 30 days
• Early withdrawal reward starts at 40%
• Pool size: 400 thousand FRM
• The time period to contribute: 3 days
• The maximum amount staked: 3000 FRM

Kilimanjaro Staking Terms

• Full Rewards: 40% annualized
• Full maturity: 120 days
• Early withdrawal starts: 60 days
• Early withdrawal reward start at 5%
• Pool size: 6million FRM
• The time period to contribute: 14 days
• The minimum amount staked: 500 FRM

Short web-based staking tutorial

What’s Next

Next, we will release FRM Staking website with a countdown until the staking pools open.

Then we will open up the staking pools for the contribution!

We look forward to officially launching staking in the coming days!

Very truly yours,

The Ferrum Network Team

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