New York/Lagos, September 16, 2019 — Dash, the top digital currency for payments and e-commerce, today announced a partnership with Ferrum Network, a high-speed interoperability network for real-world financial applications, to offer Dash payment options to Kudi Exchange customers and merchants, and to host Dash in the Ferrum Network product line.

Dash has a heavy presence in Nigeria, with hundreds of merchants offering it as a payment method. Similarly, Kudi Exchange, the “Coinbase plus Venmo” of Africa, has been aggressively on-boarding Nigerian merchants and customers to its hybrid cryptocurrency exchange and instant payments app.

New York, NY, September 10, 2019 — BitMax.io, the industry’s next-generation digital asset trading platform, and Ferrum Network, a high-speed interoperability network for real-world financial applications, have announced their first Ferrum Network Token (FRM) burning event.

Burning is a major component of the Ferrum Network ecosystem. Each transaction on the Ferrum Network requires a small amount of FRM be spent and burned as gas. To demonstrate Ferrum Network’s commitment to burning, Ferrum is proud to announce its first burning event with its partner BitMax.io.

There are many additional contract workers and outside resources that work for Ferrum, the team is doing well with all the human resources available to us. In terms of the core team, there are 2 new developers who are currently being hired, who will also be working on Ferrum.

In general, the team is very resourceful and watch all dollar amounts very closely, can work off the budget allocated for a few years. The most important part about the model is the FRM doing well aswell, which is a direct correlation on how well the team is delivering (see https://medium.com/ferrumnetwork/metrics-series-part-4-the-traction-based-reserve-model-d10461ad63e2).

We are thrilled to announce that Ferrum Network, in partnership with DAO Maker, has officially launched Social Mining! In this article, we explain what Social Mining is, how it works and how to sign-up and earn.

We have allocated 1% of total FRM tokens (ERC-20 only) to social mining for the next 12 month. Payouts be automatically sent to your designated ERC-20 FRM address every 2 weeks based on your holding plus your value-added contributions, which combined are expressed by “Influence” points.

Some events ongoing with Bitmax and Ferrum: https://bitmaxhelp.zendesk.com/hc/en-us/articles/360033924813--BitMax-io-Primary-Exclusive-Listing-of-Ferrum-Network-FRM-Upcoming-Auction-Airdrop-BitTreasure

Listing begins tomorrow August 5th at 2pm GMT!

We’d like to start off by congratulating those who participated in the public sale and also those who supported Ferrum Network for the past months and continue doing so, we’ve managed to have a smooth, successful and seamless sale on Primablock which resulted in positive feedback from the community.

The sale was conducted on 1st August 2019 at 8am EST, here is a recap of what happened:

$0.016, the total supply is 331M

The circulating supply on Day 1 will be <50M FRM, closer to 30-40M.

Some basic statistics:

1) Tier 2 sold out in 9 minutes - Max contribution #400usd
2) Tier 3 sold out in 2 minutes - Max contribution was lowered to 1k USD and was started 10 minutes early, due to concerns of scripts and bots during the gas-war and to give everyone the opportunity to participate due the overwhelming demand.
3) In total: 578 people participated and Ferrum's team raised $300K in less than 1 hour, reaching the hardcap.
4) Ferrum raised a total of 1.12million in private, pre and public rounds.

Some basic statistics:

1) Tier 2 sold out in 9 minutes - Max contribution 400usd
2) Tier 3 sold out in 2 minutes - Max contribution was lowered to 1k USD and was started 10 minutes early, due to concerns of scripts and bots during the gas-war and to give everyone the opportunity to participate due the overwhelming demand.
3) In total: 578 people participated and Ferrum's team raised $300K in less than 1 hour.



There will be a formal Medium article on the distributions and moving forward.

Bitmax listing will occur on August 5th, 2019!

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BitMax.io will list Ferrum Network (FRM) under the trading pairs of FRM/USDT and FRM/BTC.

- Deposit & Withdrawal to start at 10:00 p.m. EDT on August 3rd, 2019.
- Trading to start at 10:00 a.m. EDT on August 5th, 2019
- Both trading pairs are only eligible for Reverse-Mining and regular trading.

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We’d like to start off by congratulating those who participated in the public sale and also those who supported Ferrum Network for the past months and continue doing so, we’ve managed to have a smooth, successful and seamless sale on Primablock which resulted in positive feedback from the community.

The sale was conducted on 1st August 2019 at 8am EST, here is a recap of what happened:

Here are some Dates:

The whitelisting process ended on 6/28/2019.
The KYC application process closed 7/28/2019 at 5pm EST.

The Bounty campaign will close July 31st (tomorrow).

The ICO will be conducted on August 1st, 2019 at 12:00pm GMT.
FRM will be trading on Bitmax on August 5th, 2019.

Thank you for completing the KYC process! We are happy to report that a total of 1530 people submitted KYC. Of those, 1170 are on the whitelist. Now we would like to explain the sale process that will occur through our partner Prima Block, but first some general information.



General Information:

Time and Date: August 1st, 2019 at 12:00pm GMT (8:00am EST). The sale will be split into 3 tiers with timing and personal limits as follows.

1) Tier 1 (high value supporters): 8:00–8:15 AM. Personal Limit: $1,000
2) Tier 2 (whitelisters): 8:20 AM EST — 8:55 AM, first come, first serve among whitelisters. Personal limit: $400
3) Tier 3 (anyone who did KYC — Gas War Lite): 9:00 — close, FCFS among all KYC participants. Personal limit: $3,000

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These details will be revealed in the future, as we approach the launch of Infinity Dex. The main focus right now is the ICO of course, the launch of Unifyre then the mainnet of FRM.

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

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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.

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.

We are only issuing small number of BEP-2 tokens (enough to apply for Binance DEX) and keep the rest ERC-20, which is preferable for bounties and other marketing.

This is the system in which the team has come up with, to ensure a smooth transition to the exchanges. Everyone has some sort of lockup, it was strategic to become affilated and later list to Binance Dex, again in which you need to issue a certain amount of your tokens to BEP.

It isn't perfect, neither are we claiming it to be. But, the team did their best to balance and consider all avenues for the longer-term vision, which is what ultimately matters most to the team, the business and the network itself.

For the first 30 days after distribution, there will be a 50% fee for converting BEP-2 to ERC-20, decreasing by 1.5% per day until the fee is eliminated.

Please read carefully next time. The fee diminishes by 1.5% per day. so it would take around 33 days for a 0% fee.

Token Bridge

BEP-2 tokens will be convertible to ERC-20 through a token bridge. For the first 30 days after distribution, there will be a 50% fee for converting BEP-2 to ERC-20, decreasing by 1.5% per day until the fee is eliminated.

In addition, by applying to Binance DEX early at the time of TGE, we increase the likelihood of secondary listing around 30 days later. This means that no matter what, the BEP-2 tokens will be fully liquid with no fee approximately 30 days after TGE.

Reference article: https://medium.com/ferrumnetwork/announcing-the-ferrum-network-utility-token-offering-f3ab72fcee23

Just to be clear, the Ferrum mainnet will go live sometime Q1 2020 if not sooner, during that time the official token swap will occur. While there's a great migration with several projects occurring, there's little reason not to issue more than one token to take advantage of various of crypto chains. The drawback is managing two cryptos until the mainnet swap goes live, but this is mitigated by several positives.

Overall, this structure works for Ferrum Network and the micro-ICO cap that's about to be fulfilled. We aren't migrating post-ICO, this is before any distributions have occurred.