Updated Pre-Sale Tiers for Greater Access and FRM Utility

Published in

FerrumNetwork

5 min readDec 9, 2020

Dear Ferrum Community,

After the extremely successful launch of our first incubation project — Bondly Finance, which is currently trading many multiples higher than what Ferrum community members paid in the exclusive private sale — and in advance of the next carefully selected and highly promising incubation project — we are thrilled to introduce our updated pre-sale tier structure for greater access and greater FRM utility!

There are three primary additions to the updated tier structure: 1) an expanded 25,000 FRM Lottery tier with 25% allocation size; 2) a guaranteed 50,000 FRM tier with 45% allocation size; and 3) an expanded holding requirement to ensure only long term Ferrum supporters are getting involved. Let’s explore all these new changes below.

The New 25,000 Lottery Tier

We have heard the community and you have spoken loud and clear. The smaller holders want greater access, and we are happy to accommodate.

Therefore, we will choose 20 lottery winners who hold 25,000 FRM in their UniFyre Wallet at time of the snapshot. All winners will be offered an allocation at 25% of the size of the amount a 100,000 FRM holder will get.

We think this is the fairest way to provide our smaller holders with the opportunity to participate in pre-sales.

The 50,000 FRM Tier

We have introduced a 50,000 FRM tier, which is a guaranteed tier, but will receive 45% of the allocation size as someone holding 100,000. Also, this tier will not qualify for the benefits of holding FRMx.

The Expanded Holding Requirements

To ensure that those participating in pre-sales are long term supporters, the participants must hold their FRM from the time of the first snapshot, until the time of the first distribution of tokens (3 months maximum).

There will be two snapshots. One before the pre-sale, and one before the distribution. We will then compare the snapshots to ensure that the participants still hold an equal or greater amount of FRM in their wallet. If they do not hold FRM, they will not receive their tokens, and will be issued a refund. This will ensure that only true supporters are participating in pre-sales.

Other Information on the Tier Structure

There are now 5 tiers: 50,000, 100,000, 250,000, 500,000 and 750,000
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.

FRMx Bonus

To qualify for the FRMx bonus allotment, you need to hold a minimum of 10 FRMx in your UniFyre wallet and 100,000 FRM minimum..

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:

Bronze — 50,000, allocation 45% of Silver
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 which apply to those holding 100,000 or more FRM.

Bonus for holding 10 FRMx: Will increase any tier’s allocation by 1X,
Bonus for holding 20 FRMx: Will increase any tier’s allocation by 2X,

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.

Benefits to All Ferrum Stakeholders

We strongly believe that the lower tier is also in the interest of all FRM stakeholders, big and small, because the new tier will attract additional investors and further increase the demand and utility for FRM.

What’s Next

We will be announcing the next incubation project and pre-sale opportunity. We are incredibly excited for this one, as it really checks all the boxes in terms of team, product, vision, token economics, partnership and more!

Thank You

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.