Introducing Ferrum Network Staking 3.0

Ian M. Friend, Esq.
FerrumNetwork
5 min readNov 2, 2020

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Dear Ferrum Community,

We are pleased to announce the rewards structure for the upcoming FRM/FRMx staking round — Staking 3.0!

In this article, we describe the core concepts, as well as reveal the reward structure for each staking pool.

Throughout the week, we will be announcing more information about Staking 3.0, including a concept overview, staking guide and the countdown till staking opens. In the coming days, we will announce when the pools will open for contributions. Enjoy!

Staking Overview

Ferrum Network staking can be thought of a like a high-yield decentralized savings account. In other words, the longer you stake, the higher the rewards. That may seem simple, but FRM/FRMx Multi Token Staking is unique in many ways.

First, it is pool based — it is a group activity with multiple contributors for each staking contract.

Second, it is flexible — you have the option to withdraw early, stake until full maturity, or withdraw somewhere in between. However, leaving early comes at a cost: those who leave early will forfeit some of their rewards, which will then be equally distributed among those who staked until the end.

Third, it is limited — there is only a limited time period in which to contribute to the staking pools (7 days or until the pool is full), the pools themselves are limited in size. Moreover, staking is first come, first serve. But for those concerned about getting in, we are already planning something in case that occurs….

Finally, it is strategic; if you stake until full maturity, and others in your pool withdraw early, you will receive a portion of their rewards that are unclaimed. This means patience is rewarded.

These concepts are similar to our traditional staking technology, however, this staking round utilizes our new Multi-Token Staking system — meaning you will stake one token to earn rewards in another token…

Staking FRM to Earn FRMx

We are truly thrilled to use Staking 3.0 to showcase our new Multi-Token Staking technology, where you can stake token but earn rewards in a different token.

In this staking round, you will stake FRM to earn FRMx, our sustainable governance token.

In future rounds we will offer different iterations of this technology, for instance staking FRM to earn other project’s tokens, or staking FRMx to earn FRM, and countless other configurations!

Intro to the Staking Structures

The Governance Committee has put together an excellent staking structure that is both rewarding and sustainable, with four (4) different pools representing different time lengths and APYs. With this varied structure, there is truly something for everyone! Note that stakers may stake in more than one of these pools.

In terms individual caps (i.e. amounts one can stake), the minimum amount one can stake in any of the pools is 5000 FRM. There is no individual cap, but the pool sizes are limited.

Why is this low staking minimum important? It means that essentially anyone can participate in Staking 3.0!

The Structures

Moon

  • APY at Full Maturity: 20%
  • Full Maturity: 90 days
  • Early withdrawal: 50 days
  • Early Withdrawal Rewards: 0%
  • Contribution Period: 7 days
  • Minimum amount staked: 5000 FRM
  • Pool Size: 3 million FRM

Mars

  • APY at Full Maturity: 40%
  • Full Maturity: 180 days
  • Early withdrawal: 100 days
  • Early Withdrawal Rewards: 15%
  • Contribution Period: 7 days
  • Minimum amount staked: 5000 FRM
  • Pool Size: 5 million FRM

Jupiter

  • APY at Full Maturity: 60%
  • Full Maturity: 270 days
  • Early withdrawal: 150 days
  • Early Withdrawal Rewards: 25%
  • Contribution Period: 7 days
  • Minimum amount staked: 5000 FRM
  • Pool Size: 3 million FRM

Saturn

  • APY at Full Maturity: 80%
  • Full Maturity: 360 days
  • Early withdrawal: 200 days
  • Early Withdrawal Rewards: 35%
  • Contribution Period: 7 days
  • Minimum amount staked: 5000 FRM
  • Pool Size: 2 Million FRM

What’s Next

Next we will release an article explaining the core concepts in more detail, as well as a tutorial explaining how to stake from either UniFyre Wallet and/or through our web-based staking portals.

Finally, we will announce the date/time the staking opens and begin the countdown!

Thank You

We want to thank the Governance Committee and the entire Ferrum Network community for helping us put this together and inspiring us each and every day! This is for you!

Very Truly Yours,

-The Ferrum Network Team

About Ferrum Network

Ferrum Network is building a DeFi ecosystem that interoperates across chains and removes barriers to mass adoption with user-friendly products for swapping, staking, and transferring cryptocurrencies. Its cross-chain DAG will enable the transfer of any digital asset in milliseconds for near-zero network fees, unlocking tremendous value for the entire industry. Ferrum’s non-custodial UniFyre Wallet has already revolutionized the way people send crypto with its “Link Drop” technology, and is transforming the OTC market with risk-free OTC swaps embedded in a shareable link. Ferrum’s Staking-as-a-Service is now used by dozens of projects, and our Token Bridge is the fastest, and most secure means of moving assets between Ethereum and Binance Chain. Look for Ferrum to launch more transformative DeFi technology 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/

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

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Ian M. Friend, Esq.
FerrumNetwork

Co-Founder, COO and General Counsel at Ferrum Network — a fast interconnectivity network for decentralized cross-chain financial applications