Ferrum Network Monthly Recap — August 2020

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FerrumNetwork

4 min readAug 30, 2020

Dear Ferrum Community,

We wanted to take this opportunity to recap an incredibly busy and productive August 2020 where we onboarded over 10 projects to our DeFi Staking technology, launched Swap Drop technology and conducted three Flash Sales.

But theres also been a lot happening behind the scenes…We are on the precipice of launching a new initiative that will provide tremendous value to FRM holders and our community as a whole. Check out the end of this article to get a preview of this exciting new initiative. But first, the recap!

Staking Staking and More Staking

What a month it has been for our DeFi Staking Platform! Despite the fact the wallet version has not even been released, we signed up over 10 staking projects, including:

DeFiPie
Vision Network
Tixl
PeerEx
AGA
Uptrennd
Askobar Network
Bartertrade
Crypto Cricket Club
PAMP Network
Porkchop

With many more in the pipeline yet to be announced!

As a result of the fees paid by projects, we have bought back and are holding 731,580.5 FRM, presently valued at approximately $50,000 USD.

Image of Buyback Wallet as of August 30th, 2020

The Launch of Swap Drops and DeFi Flash Sales

Amidst all the staking excitement, we also launched a huge feature in the UniFyre Wallet we are calling Swap Drops: Risk Free OTC Transactions Using a Shareable Link.

Swap Drops allows parties to conduct a risk-free OTC transaction over any medium, Telegram, We Chat, What’s App, even email! There is nothing like it on the market and we believe this technology is poised to disrupt the traditional OTC market by removing middlemen and high fees.

To promote this amazing new technology, we also launched a new initiative called DeFi Flash Sales: Risk Free OTC Sales at a Discount. We take the token listing fees paid by projects to list on UniFyre Wallet and we sell them at a discount in exchange for FRM using Swap Drop technology in our Swap Drop OTC channel.

The FRM we earn from Flash Sales get distributed to our 100,000+ FRM holder tiers at the end of each month. The first distribution will be going out tomorrow night (August 31st 2020) — so please make sure to move FRM into your UniFyre Wallet in order to qualify (we will make an announcement about the time of the snapshot)! We also have more Flash Sales coming soon so stayed tuned for your chance to buy some discounted tokens!

And while we are happy with the Flash Sales and what they mean for FRM holders, we know we can do more to drive value to our holders….

Preview of the Next Big Initiative for FRM Holders

The crypto market moves incredibly fast. If you stagnate or become a slave to your roadmap you can miss out on massive opportunities. That’s why at Ferrum we are constantly exploring new initiatives and strategies to add value to our community, our FRM holders and the crypto community as a whole.

Recently, a huge partnership opportunity arose that we believe will take Ferrum to an entirely new level. It will allow us to grow our ecosystem of projects, expand our tech offerings, and add tremendous value to our FRM holders, who will directly benefit from the opportunities offered by this partnership.

We have been working feverishly behind the scenes in order to launch this new initiative, and we cannot wait to reveal it to you in the coming days!

Thank You

We want to thank everyone for their support throughout this amazing month, and give a special thank you to all the teams who will be working with us on the staking, we truly appreciate your support!

Let’s keep it rolling with a huge September!

-The Ferrum Network Team

About Ferrum Network

Ferrum Network is bringing DeFi to the masses with an ecosystem user-friendly DeFi products for swapping, staking, earning, buying and selling cryptocurrencies. Ferrum’s non-custodial UniFyre Wallet has revolutionized the way people send crypto with innovative Link Drop technology, and it will soon transform the OTC market with Swap Drop technology for risk-free OTC transactions embedded in a shareable link. Ferrum works with a wide range of projects to supercharge their success with technology such as the high-yield DeFi Staking Platform and a Token Bridge for swapping tokens between chains. Look for Ferrum to launch more transformative DeFi products throughout 2020 and beyond.