Public Sale Info: IEO or ICO…

Dear Community,

Every day we are asked the question whether we will conduct an initial exchange offering (IEO), ICO, IDO or whatever else exists out there…

It’s finally time to give you the answer you deserve: Ferrum will conduct an initial utility token offering (ICO) with a quick exchange listing afterwards. Ferrum will NOT conduct an IEO.

Reasons We Decided Against IEO

There are a number of reasons we opted against an IEO, but they fundamentally come down to two things we often talk about — the community, and our long term vision.

A Lack of Community Focus

We have always preached our core values of focusing on our long-term supporters. We believe in our community and understand that you are one of the most important factors in our success. The problem is that IEOs are not community focused…

Main Issues with IEOs

Here are the issues we have identified with IEOs:

Flexibility of projects — Lost!

Transparency — Lost!

Honesty — Lost!

Focus on community — Lost!

The IEO Process: Most Benefits Go to the Exchange

How legit is the IEO process in general? How fair is it? How many people used scripts to get access? How much was sold before the sale was supposed to be open? What are the chances for our community to participate? And why should a participant hold an exchange token for a long time, when all they want is to participate in the sale of a project they support? Also, what about the private sale purchasers who often have terms unilaterally changed on them to fit the exchange’s preferences?

Benefits of IEO: Quick, Guaranteed Listing

The main advantage of an IEO is that know that an exchange listing is secured and the token will quickly listed. However, the sole focus on quick listing and “hype” tends to result in exclusively focusing on the monetary aspects of a project: What are the metrics? Which exchange? How high can it pump?

The issue with attracting these sort of investors is that they typically don’t care about the long term fundamentals and health of the project. They will pump your token, dump it and move onto the next project. It’s not a sustainable approach.

Our Approach

Ultimately, focusing on our community and taking “riskier” route of conducting the sale ourselves while simultaneously securing a good exchange listing was the right decision for us. You do not always have to follow what everyone else is doing. Sometimes the alternatives can be much more effective.

More Info on Rounds

In the interest of transparency, below is the information on all rounds so you understand how we will reach the $1.12 million hard cap.

Seed Round:

Amount Raised: $120,000 (40% Bonus)

Token Price: $0.0114 (with bonus factored in)

Token Distribution: Unlocks 40/40/20: 40% unlocked after 30 days from TGE; 40% after 60 days from TGE; 20% after 90 days from TGE

Private Sale I:

Amount Raised: $500,000 (15% Bonus)

Token Price: $0.0139 (with bonus factored in)

Token Distribution: 40% at TGE; 40% after 30 days from TGE; 20% after 60 days from TGE

Private Sale II:

Amount: $200,000 (0% Bonus)

Token Price: $0.016

Token Distribution: 40% at TGE; 40% after 30 days from TGE; 20% after 60 days from TGE

Public Sale:

Public Sale: $300,000 (0% bonus)

Token Price: $0.016

Token Distribution: TBA

Conclusion

In our next article we will outline more details of the sale itself, and the first information about how it will be structured. You shouldn’t miss it!

Very truly yours,

The Ferrum Network Team

Links:

Website: https://ferrum.network/

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