Jan 20, 2020
From Past to Present with Ferrum Network Vol. II — Staking 2.0: FRM Stake & Earn
In September, I shared my article with you: “From Past to Present with Ferrum Network…” As those who read my articles will know, Ferrum Network has come a long way in a short time. I’m not just talking about advancing in price, but the price of FRM has risen very clearly. The rise in these market conditions was, in my opinion, entirely an indication of trust in the Ferrum Network project.
To summarize again, Ferrum Network, which completed its ICO in a few hours in August 2019, announced the listing agreement with Bitmax.io before token distribution. The Binance DEX listing agreement was announced immediately after the decision to issue FRM token in Binance Chain. After that, listing agreements with IDEX and Eterbase were announced. In this market, where liquidity is very important, Ferrum worked to do their best.
On the other hand, product developments continued to sustain the Ferrum Network ecosystem. In the beginning, as part of Kudi Rebranding, First Kudi updates came and achieved great successes in Africa. By signing the agreements and persuading the merchants in the region, a very healthy crypto-system was established in Nigeria. Using the early adopter advantage of Dash, Binance, and Vite came to that region after Ferrum, Ferrum signed agreements with these big projects. Also, long work in Unifyre is almost over. The Ferrum family will soon launch its second main greatest product after Kudi.
In addition to these, mechanisms that work very well in terms of technology, such as token bridge and staking, were put into operation. The first stage staking event attracted great attention from the Ferrum community and all staking pools were filled in a short time. Ferrum team, who wrote their smart contracts for staking transactions, once again did a great job. Everyone was able to join the staking pools without any problems.
After the first staking, which was admired and found to be very successful by the community, the demand for opening new pools was coming from the community again. And the team announced that they started a study for staking 2.0, showing the value the community gave.
Ferrum Network offers both a test and rewards to its community with Staking. While testing the commitment of the community to the project in this process, it does not neglect to reward this test generously with great rewards. Those who read the article I quoted above know, but let’s summarize briefly;
o Rhodium: 2 years staking. 85% rewards. 1.5M pool
- Early withdrawal (1 year: 365 days) 35% rewards.
o Promethium: 1 year 9 months. 65% rewards. 3M pool
- Early withdrawal (10.5 months: 315 days) 27% rewards.
o Palladium: 1 year 3 months. 45% rewards. 3.5M pool.
- Early withdrawal (7.5 months: 225 days) 15%
o Titanium: 9 months. 25% 2M pool
- Early withdrawal (4.5 months: 135 days) 6%
As you can see, Ferrum Network promises a full 85% return to those who promise to keep their FRM tokens locked for 2 years. And considering the needs of everyone, it also offers the community the chance to withdraw early, those who want can make their money withdrawal early in half of the period (giving up some of the return). Of course, as in the first staking, the amount of FRM not paid for early withdrawals in this process will be added to the pools of those who keep their word until the end. In other words, a FRM holder participating in Staking2.0 pools will get at least 85% return. Meanwhile, as Ferrum Network COO Ian Friend explained previously, the reason why pools are longer than the previous one is that the feedback from the community is in this direction.
My personal opinion for Staking has always been that it can be evaluated for future projects. And I think Ferrum Network is shining brightly for the future. Especially when we look at Ferrum’s roadmap, we can see that it is a little over a year for plans and products to come to life. In this case, 1.5 or 2-year staking pools will be ideal for a fully started Ferrum Network.
Note that staking pools will open in a very short time. Stay tuned for Staking 2.0: FRM Stake & Earn.
Ferrum Network Links:
Website: http://bit.ly/FerrumNetworkWebsite
Telegram: http://bit.ly/FerrumNetworkTelegram
Twitter: http://bit.ly/FerrumNetworkTwitter
LinkedIn: http://linkedin.ferrum.network
YouTube: http://youtube.ferrum.network
Reddit: http://reddit.ferrum.network
Bitcoin Talk: http://bitcointalk.ferrum.network
Facebook: http://facebook.ferrum.network
Github: https://github.com/ferrumnet/
Instagram: http://instagram.ferrum.network
