Ferro Protocol is Launching on VVS Launchpad (IGO)

Even during the most turbulent times, our Chief Mining Officer found a diamond in the rough. We are excited to announce that Ferro Protocol (FER) will be our next Initial Gem Offering (IGO) to be launched on the VVS Launchpad!

We believe Ferro will be a new rising star StableSwap AMM protocol on Cronos. What better than low slippage trading and farm rewards on stable coins during uncertain market conditions.

We also looked at our past IGO and took key learning lessons to improve launchpad mechanics. Key changes are:

1. The investment token will be VVS to add more utility and demand for our beloved token.
2. Vesting Schedule is now supported to allow project teams to control the initial circulating amount of tokens better and decrease selling pressure.
3. Offering mode will only include ‘Gem Fair’ / aka Basic Offering to limit the opportunity to our VVS community.

Please read the article attentively as this mode introduces many mechanics improvements to better host a project launch with the current market conditions!

• What is Ferro Protocol?
• Token Economics & Utility
• IGO Offering Details
• Participating In the IGO
• Project Details

What is Ferro Protocol?

Built on the Cronos blockchain, Ferro Protocol is a StableSwap AMM protocol that brings a more efficient way for users to exchange and farm tokens by creating more efficient pools consisting of highly correlated assets, as well as allowing better composability between protocols in the Cronos ecosystem. Compared to other DEXes, some of the advantages of Ferro Protocol are:

• Lower fees — Due to gas usage & traffic efficiency of the token swap/exchange mechanism versus normal DEX
• Lower slippages — Highly correlated assets reduce price divergence within tokens of the same pool
• Limited to no impermanent loss — Highly correlated assets reduce overall market exposures of the pools
• More utilization of pools — Highly correlated assets allow for more utilization, providing opportunities to benefit by deploying pools into other DeFi protocols.

Ferro Protocol offers two main features:

1. Ferro Swap

Users can exchange one token with another as long as both tokens are available in any of the pools within the protocol. You can also customize your token exchange by specifying allowable Slippage in %.

2. Liquidity Pools

Apart from swapping, users can become liquidity providers and earn incentives by staking their LP tokens into the liquidity farm. You will be rewarded with our native tokens $FER together with the opportunity to lock your tokens with different maturity options to boost your returns.

The typical liquidity pools in Ferro Protocol will also carry a mechanism to incentivize/disincentivize users to LP a particular token through Deposit Bonus and Withdrawal Penalty, in order to balance the proportion of tokens in the pool.

To learn more about Ferro Protocol, click here.

Token Economics & Utility

There are 2 types of tokens to fuel the overall Ferro ecosystem, each with different utilities, namely $FER and $xFER.

$FER token is the main reward/incentive token in the protocol, while $xFER token is the yield-bearing token. Users can opt to stake $FER to $xFER at the prevailing exchange rate at any time. (The exchange rate between xFER:FER will only go up as platform fees are added in the staking pool)

• You can only get $xFER by staking $FER
• xFER will entitle holders to revenue sharing from the protocol swap fees
• locking xFER into vaults will allow users to earn even more $FER!

When users provide liquidity to Ferro Protocol, they will receive the corresponding Liquidity Provider (LP) Token as proof of their participation. These LP tokens can then be staked to receive the following emission reward:

• 60% of the reward in the form of $FER token, available to be harvested immediately
• 40% of the reward will be directly converted into $xFER at the prevailing exchange rate and will be automatically directed into the 30-day locking vault. Users can choose to upgrade their vault setting as well for higher rewards.

There is no restriction on the $FER token that is harvested (i.e. the 60% portion). Users can choose to convert it into $xFER, sell it directly, or use it to provide liquidity back into the protocol. Holders of $xFER token can opt to lock their $xFER token with different maturity options. By locking their $xFER, users can mine extra $FER tokens. In later phases, locked $xFER will give users access to boosts on their LP yields.

$FER has a fixed total supply of 5,000,000,000 (5 Billion) and will be distributed as follows:

IGO Offering Details

Start Date: 12pm UTC on Wednesday, June 8th, 2022

Duration: 24 hours

LP Seeding: 12pm UTC on Thursday, June 9th, 2022

Amount to Be Raised: $250,000 USD

Fully Diluted Valuation (or equivalent): $50,000,000 USD

Units: 25,000,000 $FER at $0.01 USD per token

IGO Method: ‘Gem Fair’ . The offering will be conducted using the Overflow Method.

Vesting: 10% Immediate, 90% Monthly Vesting at 10%

Investment token: $VVS

Max commitment: $500 USD worth of VVS

Max overflow: 5x

Basic Offering: ‘Gem Fair’ ($250,000 to raise)

In the Gem Fair, each person can contribute a MAXIMUM of $500 USD equivalent of VVS tokens.

To enter the Gem Fair, each user has to stake in xVVS Vaults, with varying amounts based on the different vault lockup period. Note: the staked amount cannot be split across multiple Vaults.

In essence, with a longer lockup period in the Vaults, the amount of xVVS staked required to enter the Gem Fair will be lowered.

The Gem Fair eligibility snapshot will be taken randomly between June 7th — 8th, 2022. Make sure to complete the staking requirement by June 6th 11:59 PM UTC — 2022

The number of tokens available in this format will account for 100% of the total offering.

In order to ensure participants have meaningful IGO allocation in the event of oversubscription, the Max Overflow mechanism will be implemented in the Basic Offering. The Basic pool will stop accepting further deposit commitment once the overflow reaches 5x / 500% of the amount to raise.

Do note that the final allocation you receive will still be subject to the total amount raised in this method. However, you will not be battling any whales.

What Is the “Overflow” Method?

In essence, the more a user commits, the more allocation they may receive based on their percent commitment over the total committed amount. Any unspent amount is returned to users.

Participating In the IGO

Eligibility:

1. Stake xVVS in Vaults for before the Ferro Protocol IGO. (Required for the basic offering ‘Gem Fair’)
2. Get VVS tokens which will be needed to purchase the $FER token.

Before the IGO:

1. Get some VVS tokens and stake them for xVVS.
2. Ensure you have xVVS staked in a Vault prior to the IGO. xVVS has to be staked before the snapshot is taken in order to be eligible, refer to the above snapshot time and amount required (Required for the basic offering ‘Gem Fair’).
3. Arm yourself with VVS tokens, this will be your currency to purchase $FER.

During the IGO:

1. Commit VVS tokens: commit your purchase intention by staking VVS tokens in the IGO smart contract.

After the IGO:

1. 10% of your FER tokens will be immediately claimable once IGO is completed.
2. The remaining 90% of tokens will vest monthly over 9 months (User will be able to claim 10% per month)
3. Your allocation of FER tokens is calculated based on the overflow.
4. Any unused VVS tokens will be returned to you automatically upon claiming your FER tokens.

FER Farm/Mines Post IGO:

1. FER-VVS Crystal Farm will start ~60 minutes after the IGO.
2. Stake xVVS earn FER Glitter Mine will start emissions ~60 minutes after the IGO.

Project Details

Project: Ferro Protocol (FER)

Website: https://ferroprotocol.com/

Contract Address: to be updated

Audit: Completed by BlockSec

Twitter: https://twitter.com/FerroProtocol

Medium: https://ferroprotocol.medium.com/

Discord: https://discord.com/invite/NstFnJuK

Telegram: https://t.me/ferroprotocol

Disclaimer — All projects are subject to both high market risk and volatility. We ask that you do your own research and full due diligence before investing your funds in any project. VVS Finance will not be held responsible for any investment losses.

Additionally, persons located in or residents of the following list or any other jurisdiction in which it is prohibited from using any of the services offered on the VVS Finance website, including IGO, (the ”Prohibited Jurisdictions”) are not permitted to make use of these services.

You may find the full list of “Prohibited Jurisdictions” and Usage Disclaimer here.