Introducing the New Tiered System for Pre-Sales

Published in

FerrumNetwork

4 min readNov 9, 2020

Dear Ferrum Community,

With Ferrum Staking 3.0 right around the corner, the Ferrum Team and your Governance Committee would like to introduce to you the adjusted Foundry Tier System for Pre-Sales.

Introduction

The Ferrum ecosystem presents you with several choices on where to ‘park’ your FRM tokens, each with their own benefits. Being able to take part in exclusive private sales — whether through the Foundry itself or through pre-sales we get allocations for — is one of the many ways to earn with FRM.

The new Tiered System will be used to determine who is eligible for future private sales and what the maximum possible individual investment looks like based on FRM and FRMx holdings.

Adjustments to the Old Tier Structure

There are three major adjustments to the old tier structure:

In addition to the previous tiers at 100k FRM, 250k FRM and 750k FRM a 4th tier at the 500k FRM level is introduced.
As suggested by many community members, the new system rewards higher tiers with significantly larger allocations than was the case in the first Foundry private sale.
By holding a required amount of FRMx, you will be able to increase your allocation.

FRM Holder Requirements and FRMx Bonus

In order to qualify for private sales, you must hold a minimum of 100k FRM tokens in your UniFyre wallet. To qualify for the FRMx bonus allotment, you need to hold a minimum of 10 FRMx in your UniFyre wallet.

When calculating the allocation per tier, we must consider the amount of allocation that The Foundry receives as well as the number of investors from each tier. Therefore, prior to the start of a new private sale, the Ferrum team will ask those who are eligible to pledge their interest. We use these two factors to determine a base allocation value of ‘X’.

The four tiers showing FRM requirements for each, including allotment per tier are as follows:

Silver — 100K FRM, allocation @ 1X
Gold — 250K FRM, allocation @ 2X
Platinum — 500K FRM, allocation @ 3X
Diamond — 750K FRM, allocation @ 4X

In addition, there are two FRMx bonus levels, plus a lottery allotment

Bonus for holding 10 FRMx: Will increase any tier’s allocation by 1X, (includes lottery)
Bonus for holding 20 FRMx: Will increase any tier’s allocation by 2X, (includes lottery)
Lottery for 50K FRM holders: 5 winners will receive a 1X allocation

Examples of Allocations

Here are some examples of how your allocation is calculated:

Let the base allocation X be $1000 USD

If you hold 100K FRM & 0 FRMx, your allocation for the sale would be $1000 (1X)
If you hold 100K FRM & 10 FRMx, your allocation for the sale would be $2000 (2X)
If you hold 250K FRM & 20 FRMx, your allocation for the sale would be $4000 (4X)
If you hold 750K FRM & 0 FRMx, your allocation for the sale would be $4000 (4X)
If you hold 750K FRM & 20 FRMx, your allocation for the sale would be $6000 (6X)

The allocation that FRM/FRMx holders are given indicates the maximum that can be invested in the private sale. If the allocation does not fill, the Ferrum team may, at their discretion, offer the remaining allocation as they see fit.

System Applies to All Pre-Sale Opportunities

In some instances, pre-sales will be offered through the Foundry incubator. In other cases, access to pre-sales will be offered by way of partnership with another project. For example, an early stage project may partner with Ferrum and provide us an allocation. Please bear in mind that this new tiered system will apply no matter the source of the allocation.

What’s Next

In the next few hours we will announce the date/time of the next snapshot. So please get ready to move your FRM to UniFyre to qualify for the upcoming monthly rewards, and don’ t forget to use the Rewards Calculator to see how much FRM/FRMX you need to earn 30% APY.

Soon after, we will announce the date/time the Staking 3.0 pools open up, so please stay tuned to the announcement channel for that information!

Thank You

The Foundry is off to a great start with its first incubation project ‘Bondly Finance’, and much more exciting pre-sale opportunities in the works. Once again, we hope this information will assist you when choosing a path for your FRM, whether it be staking, or holding in your wallet for lucrative private sale investments and monthly rewards, or perhaps, a little of both. Good luck!

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.