Re: [ANN] [ICO] Ferrum Network | BITMAX | ICO Aug 1st, 2019 | Binance & Eth Chain
On July 26th, 2019, The Ferrum Network team conducted a live Q&A session in the official Ferrum Telegram group. We’ve compiled all the questions and have made some edits for our future Ferrum Network community members to read seamlessly.
Main Participants: Ian Friend COO of Ferrum Network, Dominik Swierkot CMO of Ferrum Network. Naiem Yeganeh — CEO of Ferrum Network could not attend due to an important business meeting.
Ferrum's sale is quite small, with the public cap being only $300k, with the total funding being $1.12m. We did our best to ensure fairness of the ICO by having different Tiers, where Tier 2 is a Whitelister FCFS round and Tier 3 is a open public gas war.
The sale is only for those who completed KYC during last week, KYC is now closed. Ferrum will be listed to Bitmax on August 5th, 2019
We get a lot of questions that come down to — why should I care about Ferrum? What is your unique value proposition? How are you different than the other projects out there? We would like to address those questions head on, identify the problems we see in the utility token market, and explain how we are solving those problems.
From our standpoint, the utility token market is plagued with three primary problems:
1) a lack of fundamentals/utility;
2) extreme overvaluation; and
3) a failure to tie the value of the token its utility.