UniFyre Wallet: Community Benefits

Published in

FerrumNetwork

4 min readMar 26, 2020

Dear Ferrum Community,

We are proud to announce that we now have over 20,000 people signed up for the UniFyre Wallet waitlist, with more joining by the hour!

Many might be interested to learn more about UniFyre Wallet. In this article we describe important information regarding a key feature — Community Benefits.

UniFyre Wallet Basics

UniFyre Wallet is the first non-custodial wallet with the following unique features:

Link Drop technology (sending crypto to anyone using a link — no need for wallet address);
Multi-layered security to protect against hacks and mistakes;
The ability to buy/sell crypto with fiat (we will be rolling out support for dozens of fiat currencies)
And more

But perhaps the most exciting feature are the UniFyre Wallet community benefits. Now that we have thousands of people on the waitlist, it is perfect time to reveal some key details regarding our community reward structure.

Community Reward System

UniFyre is a community driven wallet. This means we will empower the community to earn rewards and make communal decisions about the app.

For instance, top FRM holders will have the right to nominate projects to list on UniFyre, and the community will be given the opportunity to vote on those listing proposals.

When a new project is listed, we will Link Drop their native tokens to FRM holders, host an AMA, and provide quizzes/educational materials on the project, and more. Each of those events is an opportunity to earn FRM!

3 Tiered Reward Structure

There will be 3 tiers of UniFyre FRM holders each with their own benefits.

Ironhands (Tier 1)

Requirements:

Hold 100,000–250,000 FRM in your UniFyre Wallet

Benefits:

Will receive Link Drops of all qualifying listed projects (e.g. native tokens will be Link Dropped to the email address registered with your app)
Right to vote on projects to be listed
1.5x rewards on all project AMAs
Right to receive rewards for all quizzes
Cash back on crypto purchases (amount will be announced at later date)

Gold Miners (Tier 2)

Requirements:

Hold 250,001–750,000 FRM in your UniFyre Wallet

Benefits

Will receive Link Drops of all qualifying listed projects, PLUS matching amount of FRM will be Link Dropped to Gold Miners at time of listing
Right to vote on projects to be listed
Bigger cash back on crypto purchases (cash back amount will be announced at later date)
Right to receive rewards for all quizzes, plus matching equivalent in FRM
2x rewards on all AMAs

Titanium Masters (Tier 3)

Requirements:

Hold 750,001+ FRM in your UniFyre Wallet

Benefits:

Right to Link Drops of qualifying listed projects, plus 2x in FRM tokens Link Dropped to Titanium Masters at time of listing
Right to nominate and vote on projects to be listed
Biggest cash back on crypto purchases (amount announced at later date)
Right to receive rewards for all quizzes, plus 2x amount in FRM
3x rewards on all AMAs
Invitation to a private group comprised of core Ferrum team and other Titanium Masters where decisions will be made about features to add to the wallet.

Additional Key Information

The community benefits system is not compulsory. You can opt out anytime by moving tokens off your wallet.

However, we have the ability to read how much FRM your UniFyre wallet is holding at any given time. The day of announcing a new listing, we will read wallets to determine who qualifies for the rewards.

In addition, we will be continuously reviewing the reward system for its effectiveness and popularity. Ferrum Network reserves the right to amend this structure and disqualify anyone who attempts to cheat or game the system.

Finally, there may be listed projects that do not agree to provide any tokens for our community members. In the rare instance this occurs, we will be rewarding all qualifying members in an equivalent amount of FRM.