The Ferrum Network Cross-Chain Token Bridge
Use the Ferrum Network Cross-Chain Token Bridge to swap assets across Ethereum, BSC, and MATIC
Summary For Quick Readers
Today we’re excited to announce the launch of the newest addition to our product portfolio: The Ferrum Network Cross-Chain Token Bridge.
Here is a quick summary of the topics covered in this article:
- The Problem With Token Bridges Available Today
- The Ferrum Solution: The Cross-Chain Bridge Crypto Deserves
- Multi-Chain Bridge
Swap tokens across chains without the need for an intermediary chain
i. ERC20 ← → MATIC
ii. ERC20 ← → BEP20
iii. BEP20 ← → MATIC - FRM ERC20 to FRM MATIC Bridge Launch
We’re starting off by launching the Ethereum to MATIC bridge for the FRM token itself. - White-Label Solution
A white-label solution for DeFi projects - Fully Managed Solution
Ferrum Network handles the deployment and maintenance of the bridge. - Enterprise Solutions
Self-hosted solutions are available for enterprise platforms providing more security and enhanced security controls. - Built-in Deflation — Set Your Own Fees
Organizations will have the ability to set their own fees for swaps across the bridge
Why We Decided To Launch The Ferrum Network Cross-Chain Token Bridge
At Ferrum Network, we obsess over our customers, community members, FRM holders, and their needs. Over the last few months, several new blockchains have started to gain popularity in crypto. The sudden increase in popularity is primarily spurred by the high gas fees that negatively impact the Ethereum network as it gets congested. This new shift opened up a gap and an opportunity for Ferrum. Our team noticed the lack of a secure, reliable, and fast solution to enable the swapping of assets across a multitude of popular chains.
The Problem With Token Bridges Available Today
- Restricted Access
Most projects listed on the major cross-chain bridges today are strictly larger-cap projects. As a result, the current solutions pose a significant barrier to entry for up-and-coming projects. Their community members cannot take advantage of the opportunities that cross-chain swapping brings to the table. - Hard To Use
The UX of some of the cross-chain bridge solutions leaves significant room for improvement. As a user, it sometimes feels like one needs to digest a white-paper to understand how to swap tokens across chains. - Third Party Involvement
The architecture of the current cross-chain bridge solutions in the market today is set up in a manner that introduces unnecessary third-party exposure to the process of swapping tokens. Furthermore, in many cases, the liquidity is managed and controlled by the bridge technology provider, requiring the projects and community members to put their trust in the bridge technology provider.
The fundamentals of crypto are based on trustless systems. Most of the current solutions require you to put your trust in a third party. We see this as a step backward in the evolution of crypto, so we decided to do something about it with the Ferrum Network Cross-Chain Token Bridge.
— Taha Abbasi| Ferrum Network
The Ferrum Solution: The Cross-Chain Bridge Crypto Deserves
Ferrum’s mission is to remove barriers to the mass adoption of crypto. Launching the Ferrum Network Cross-Chain Token Bridge is a significant step enabling crypto projects to increase their impact across several major crypto ecosystems.
- A Premium Cross-Chain Token Bridge Solution — Open To All
Unlike most major bridges on the market today, the Ferrum Network Cross-Chain Token Bridge is open to projects at any stage. In addition, the Ferrum Premium Token Bridge white-label deployment is customizable to fit the needs for a spectrum of business use cases, making it an ideal fit for newly launched projects and established enterprise organizations. - UX That Makes You Smile
Our goal in creating UX for our applications is to simplify the experience so that no guide or help video is needed to utilize the solutions we are building. We created a simple in-app step-by-step guided process that walks the user through the 5 Steps required to swap tokens on the Ferrum Network Cross-Chain Token Bridge. This is just the first iteration of our new UX approach. We will continue to build delightful experiences that make it an incredibly fun experience to interact with and use any of our applications. - A Trustless Solution For A Trustless Industry
With the Ferrum Network Cross-Chain Token Bridge projects don’t have to trust a third party to manage liquidity of their tokens on the bridge. They are in complete control of their liquidity. This is just the first iterations of our Cross-Chain Token Bridge, we will continue to add more decentralized security protocols to the bridge as the product evolves over time.
With the Ferrum Network Cross-Chain Token Bridge tokens are not controlled by the pos bridge contract. On some major pos bridges in the market today, the bridge has mint ability over tokens. With the Ferrum Network Cross-Chain Token Bridge projects will be in control of their own tokens and only put the liquidity they need in the bridge.
A Multi-Chain Bridge | MATIC← →BSC← →Ethereum← →MATIC
The Ferrum Network Cross-Chain Token Bridge is revolutionary product that will enable assets to be swapped between Ethereum, BSC, Polygon (MATIC) without any intermediary swap or chain. The Ferrum Network Cross-Chain Token Bridge is positioned to be the fastest and most secure Cross-Chain Token Bridge in the market.
The BSC ← →MATIC Problem
Currently, if you want to swap your BEP20 tokens for MATIC tokens, you have to go through a myriad of steps to get this task accomplished. On the Ferrum Network powered Cross-Chain Token Bridge, it’s as simple as clicking “Swap”.
FRM ERC20 to FRM MATIC Token Bridge Launch
Today we are launching the Ethereum ← →MATIC bridge for the FRM token. This version of the bridge will enable FRM ERC20 and FRM MATIC holders to swap their assets across chains and take advantage of cross-chain arbitrage opportunities, more staking pools, and soon farming opportunities on the Dfyn exchange on MATIC.
Checkout the bridge live here:
Link WilL Be Updated At 16:00 UTC on 30-June-2021
We wanted introduce another deflationary mechanism into the Ferrum Network ecosystem. To amplify this effort we have decided to burn 100% of the fees generated from our deployment of the Ferrum Network Cross-Chain Token Bridge until further notice.
— Ian M. Friend, Esq. | Co-Founder at Ferrum Network
The Ferrum Network Cross-Chain Token Bridge White-Label Solution
Ferrum’s white-label blockchain solutions are widely successful and well known in the industry by now. Ferrum’s white-label staking technology is already utilized by 90+ projects with over $30 million in TVL. We are adding the Cross-Chain Token Bridge to this immensely successful service offering. The white-label deployment of the Ferrum Network Cross-Chain Token bridge solution will enable projects to instantly make their tokens easily swappable across a multitude of chains.
Fully Managed Solution
The Ferrum Network Cross-Chain Token Bridge can be deployed as a fully-managed solution without adding to the project’s technical debt or impacting the priorities on their development backlog.
Enterprise Solutions
For enterprise or large-scale deployments, the Ferrum Network Cross-Chain Token Bridge can be deployed as a self-hosted solution as well.
Built-in Deflation — Set Your Own Fees
The white-label deployment of the bridge has a built-in deflationary mechanism that gives projects the ability to set per swap “Bridge Fees” in their native token. These fees can be burned, set as rewards for the community, or revenue for the project to fund growth and R&D.
What’s Next?
The launch of the FRM Ethereum ← → Polygon (MATIC) Cross-Chain Token bridge today is just the beginning. We will be adding more chains for our native FRM token. Additionally, the Ferrum Network Cross-Chain Token Bridge is available today for projects to enable swaps for their tokens across the following chains: Ethereum ← →Polygon (MATIC)←BSC← →Ethereum
