Introducing DeFi Flash Sales: Risk-Free OTC at a Discount
Dear Ferrum Community,
We are thrilled to announce our newest initiative — DeFi Flash Sales: Risk Free-OTC at a Discount!
What is a DeFi Flash Sale? It’s a short term sale of project’s tokens (at a discount) using the UniFyre Wallet Swap Drop technology, which takes place in our Swap Drop OTC channel at a specified date and time. Essentially, for a limited time period (e.g. 2 hours) participants will be able to purchase tokens at a 20–40% discount in a risk-free Swap Drop OTC transaction in exchange for FRM.
Flash Sales will be offered on a one-time limited basis for all projects listed on UniFyre Wallet, and founders will have an opportunity to hold an AMA in our UniFyre Wallet channel prior to the Flash Sale, so participants can learn about these projects before deciding whether to participate.
And what about the FRM Holder Benefits for hold more than 100,000 FRM in their UniFyre Wallet? Not to worry — proceeds from the Flash Sales will be distributed to FRM holders on a monthly basis in a manner preserves the FRM holder benefit tiers.
In this article we describe the motivation behind our DeFi Flash Sales and how they work.
Strengthening the Relationships with our Listed Projects
Since its launch, the Ferrum Network’s UniFyre Wallet has been connecting communities and fostering partnerships. This is why we work closely with listed projects, hold community listing votes, and distribute listed project tokens to our FRM holders. Our overall goal is to bring those communities closer to Ferrum, and introduce our community to new and exciting projects.
But an important piece has been missing. Simply offering FRM holders a Link Drop of listed projects is not sufficient to truly drive interest or engagement. It’s basic psychology that if you give something for free, people are less likely to value it.
However, we believe that by selling tokens during a Flash Sale, even at a discount, participants will be much more likely to do research on a project, attend the AMA, and hold the token after they buy it.
In this way, Flash Sales are a far better tool for cross-marketing other projects and connecting all communities and bringing them into the Ferrum Network family of projects.
Showcasing Swap Drop Technology
Whenever a new technology is introduced, it takes time for people to get comfortable with it. We’ve seen this play out with Swap Drops — a revolutionary OTC solution that eliminates escrow and allows parties to swap tokens risk-free using a shareable link. Swap Drops means you can conduct risk-free OTC trades over telegram or any other medium! There is nothing else like it on the market and we believe it will completely change the way OTC is conducted.
But since it is new technology, we understand that people need time and incentives to become comfortable with it. And what better way than to sell tokens at a discount?!
Participants will be getting discounted tokens, experiencing a new technology, providing additional utility for FRM, and our 100,000+ FRM holders will still benefit from it…we consider this a win-win-win.
Offering Continued Benefits to FRM Holders
As many know, every project that listed on UniFyre Wallet pays a small fee in native tokens. But instead of keeping those tokens for ourselves, we distribute them to everyone who held 100,000+ FRM in their UniFyre Wallet. You can see all the tokens we listed and distributed so far on the UniFyre.io/listings page.
As amazing as this initiative has been in terms of benefitting our FRM holders and increasing FRM utility, recently there have been far too many projects wanting to list on UniFyre Wallet, and gas fees have been far too high to do a weekly distribution to 160+ holders.
In addition, simply sending tokens to FRM holders did not add a lot of value for the listed projects in terms of cross-marketing. So here is what we will do for our holders instead.
The proceeds we earn from the DeFi Flash Sales will be distributed to FRM holders on a monthly basis using the same ratio as before:
100,000–250,000: a distribution of FRM based on the amount of FRM earned over the month divided by the number of 100,000+ holders.
250,000–749,999: base amount + matching FRM bonus
750,000+: base amount + 2x in FRM
In sum, we believe that our DeFi Flash Sale program is far superior in terms of marketing and utility, while still preserving the benefits for our holders.
How a DeFi Flash Sale Works
- All Flash Sales and the AMAs held beforehand will happen on our Swap Drop OTC channel;
- Around 24 hours before the Flash Sale, we will announce the date, time, duration and discounts of the Flash Sale and AMA;
- Participants should have the latest version of UniFyre Wallet on their mobile device and FRM in their wallet in order to to purchase the discounted tokens;
- The Ferrum team will sell the discounted tokens in exchange for FRM using Swap Drop technology in the Swap Drop channel on a first come, first serve basis, for the duration of the Flash Sale or until all the tokens are sold;
- The proceeds of the Flash Sale will be moved to the Buy Back Wallet at the end of the sale;
- At the end of the month, the FRM earned from the Flash Sales will be Pool Dropped to the FRM holders via email.
We will announce the first DeFi Flash Sale project later today! So please stay tuned to the Ferrum Network Announcement Channel for more information.
Looking Ahead to Growing the DeFi Flash Sales
Our long term goal is to increase the listing fees and the size of the Flash Sales, which will increase the amount of FRM being utilized and the amount of FRM each holder will get at the end of the month. We are really excited about this initiative and hope to grow it into something huge. But we will need YOUR help promoting it and making it a success! So please tell your friends about the Flash Sales so everyone can benefit!
As always, thank you for your continued support of Ferrum Network, and stay tuned for the first Flash Sale project to be announced soon!
-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.
UniFyre Download Links
UniFyre iOS: https://apps.apple.com/us/app/unifyre-wallet/id1505450820?ls=1
UniFyre Android: https://play.google.com/store/apps/details?id=com.ferrum.unifyre
Follow Ferrum/UniFyre on Social Media
Ferrum Website: https://ferrum.network/
UniFyre Website: https://unifyre.io/
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Twitter: http://twitter.ferrum.network
UniFyre Twitter: https://twitter.com/UnifyreWallet
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Disclaimer
A project’s use of our staking technology and/or wallet listing and/or Flash Sale does not constitute an endorsement of that project or its token from an investment standpoint. All projects that use our staking and/or listing are clients, unless otherwise stated in this disclaimer. Cryptocurrencies, tokens, and other digital assets are high risk and highly speculative. They may lose their value. All Staking or Flash Sale participants are advised to do their own research before staking or purchasing any tokens.
