Ferrum Network Public Sale Recap

Published in

FerrumNetwork

3 min readAug 3, 2019

Dear Community,

We’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.

The sale was conducted on 1st August 2019 at 8am EST, here is a recap of what happened:

Key numbers:

578 people participated in the sale (in all the tiers) and raised $300K
The entire public sale lasted just under an hour
Tier 3 gas war round lasted approximately 2 minutes

The 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)

With the sale completed let’s dive into some key information for those who participated:

Token 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.

Token Bridge

BEP-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.

In 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.

Primary Exchange Listing

FRM will be listing with BTC and USDT pairs on BitMax.io on August 5, 2019 at 10 am EDT.

If 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.

Ferrum Network Bounty

Bounty ended on July 31st, 2019. Bounty Hunter’s disbursement payments are as follows (ERC-20 only):

A) 33% on September 1st.

B) 33% on October 1st.

C) 34% on November 1st.

Ferrum 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.

The Ferrum Network Team truly does appreciate your involvement and commitment in supporting us along the way and being apart of our community!

Very truly yours,

The Ferrum Network Team

Links:

Website: https://ferrum.network/

Telegram: http://telegram.ferrum.network

Twitter: http://twitter.ferrum.network

LinkedIn: http://linkedin.ferrum.network

YouTube: http://youtube.ferrum.network

Reddit: http://reddit.ferrum.network

Bitcoin Talk: http://bitcointalk.ferrum.network

Facebook: http://facebook.ferrum.network