Ferrum Network (FRM) Staking 2.0 Recap

We’d like to start off by thanking all community members for the support and positive reception of our staking round 2.0 in the past few days, here at Ferrum Network we’re always focused on our community and ease of use is always at the forefront of our products.

Let’s recap what happened in the past few days:

Rhodium pool- Filled in the VERY FIRST HOUR from release, many community members were actively waiting to take advantage of our rhodium pool with 85% (And over) rewards.

Promethium pool- The reward of this pool was 65% (And more) which has proven to be attractive to our community members as it filled within the first two days of the release.

Palladium pool- This pool was available throughout the 7 days of our staking round and has filled completely on the last day with its 45% (And more) reward structure.

Titanium pool- This pool was also available throughout the 7 days of our staking round and was also filled within minutes from the end with its 25% (And more) rewards.

Total FRM staked in staking 2.0 round: 10,000,000 FRM

Thank you all for your continued support of Ferrum Network. We are really excited to be on this journey with you.

Very truly yours,
The Ferrum Network Team

Hello Altcoinstalk Community,

We have been hard at work behind the scenes to bring you FRM staking, UniFyre Wallet, Kudi Exchange upgrades, as well as laying the groundwork for our other major products. In this article we explain what we have been working on, and some updates and additions to our roadmap.

Intro

One great thing about having thousands of users using an early stage product is that you are able to gain critical insights into the app — what works, what doesn’t, and what should be improved.

With Kudi Exchange growing daily, our customers have voiced certain needs with respect to the point-of-sale system, general bug fixes, and improvements to the sign-up process.

Because Kudi users are already enjoying the product (as well as generating revenue) we needed to prioritize these upgrades, which in turn has slightly altered the roadmap.

However, to ensure that nothing is meaningfully delayed, we have decided to launch staking early as a web-application. In addition, the work we are doing with Kudi is actually going to benefit all stakeholders (more on that below).

Please check out the Ferrum Network web site for the updated roadmap, but here are the main changes.

Main Changes to Roadmap

Token Bridge (Q3 2019): we were not expecting to build a token bridge until we decided to issue BEP-2 FRM. We released the token bridge in Q3 2019 and actually just made some recent improvements to it.

Kudi Update 1.0.7 (Q3 2019): Instead of launching UniFyre in Q3, we released a necessary Kudi update based on critical user feedback in order to drive more downloads and generate more revenue.

Web-Based Staking (Q4 2019): we have decided to move up the time of staking and make it accessible for all. Web-based staking is in the testing and de-bugging stage and will be released soon.

Kudi Exchange Rebrand (Q4 2019): we have a lot more exciting developments in store for Kudi. Not only will we be adding ETH and FRM to the exchange, we will be including FRM utility that will involve user rewards, buybacks and burns. More details to follow.

UniFyre Wallet v0.1 (Q4 2019): even with the major improvements to Kudi, we still anticipate releasing UniFyre Wallet v0.1 in Q4. How is this possible? By design, all Ferrum Network products run on the same backend architecture. This allows not only to interconnect our products, but it also hastens the time it takes to launch a product.

Surprise Product? (not on roadmap): we are fortunate that many opportunities come our way, even in the bear market. One of these opportunities is extremely promising in terms of users, growth and FRM utility. Subject to what the regulators decide, we hope to announce this surprise product in the coming weeks.

Public Test-Net (Q1 2020): this is a new addition to the roadmap, but we will look to launch our public test-net in Q1 2020 in advance of the main-net launch.

Main-net (Q2 2020): early on we realized that to be successful longterm, Ferrum must have users and revenue. Therefore, instead of building main net first and hoping others would use it, we decided to launch useful products and acquire users first. But this does not mean we are de-prioritizing our main-net. In fact, by migrating our early users onto the main net, we can ensure FRM utility. Moreover, Ferrum’s main net will unlock additional features in our products that will make them even more unique and exciting.

General Comments

The rest of the roadmap remains unchanged. However, it is really important to emphasize that Ferrum Network is a start-up. As a start-up, literally hundreds of opportunities and challenges arise each month, each of which may impact our decisions on what to do prioritize next. While nothing will fundamentally change, things may be moved around or prioritized in a different way than is currently on the roadmap.
We don’t encourage anyone to be obsessively wedded to the roadmap, but rather ask you to look at the bigger picture. Every move is calculated to achieve two things: 1) ensure the project survives long term; 2) ensure the FRM token has use and utility.

As long as we view decisions through this lens, we will all be on the same page with the roadmap and everything else we do.
Finally, thank you all for your patience as we work through the process. We understand expectations are high and we are doing everything we can to bring you top-quality products in a timely fashion.

If you have any questions about the new roadmap, or anything else about Ferrum Network, you can find us on any of our social media channels.

Very truly yours,
The Ferrum Network Team