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Author Topic: [ANN] Ferrum Network | BITMAX | Flexible DeFi Staking | FAS Pre-Sales 🔥  (Read 92633 times)

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At long last, we are pleased to release the details of our initial utility token offering! In this article, we detail the general information and structure, and provide our reasoning behind the structure.


Date of Token Sale: August 1, 2019, starting at 8 am EST







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To facilitate a smooth token sale, we wanted to provide you this quick guide on how to purchase your FRM tokens. If anything is not clear, we have a team of admins ready to help!




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It is with great pleasure to announce our exchange partner — BitMax! We could not be more thrilled to have one the best exchanges in the world as our primary listing partner.

FRM will be listing with BTC and USDT pairs on BitMax.io on August 5, 2019 at 10 am EDT.




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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.




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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.




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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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The Ferrum Network ICO Has Successfully been completed. Thank you to everyone who has been apart of our community over this past year, we truly do value you!


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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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:



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Ferrum Bounty calculations done!

[ Read Medium artcile ]

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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.



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Attention! Important information for bounty hunters: to get your tokens you need to register in Social Mining of Ferrum Network with the same ERC-20 Wallet which you used while bounty campaign before 12pm GMT of 31th of August! If not, tokens would not come!

More info — https://medium.com/ferrumnetwork/important-bounty-info-with-opportunity-to-earn-more-9f290f5f6168
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Re: [ANN] Ferrum Network | BITMAX | DAG Interperability Network | Fin-Tech Apps
« Reply #41 on: September 26, 2019, 08:43:49 AM »
Why am I leaving a Social Mining of Ferrum Network. The main idea of Social Mining is that the community evaluates the usefulness of the participants contribution. Well, while I've got downvotes for first tweet only once for weeks, I thought it was an accidential example, and lots of upvotes from different people mean, that everything is okey. As it turned out, it does not!

Today I found, that every my entry which could be downvoted by 3 days limit is downvoted. 450 downvotes mean that my activities are not even neutral to the project, they are damaging to the project. It upsets me to realize that my contribution is hurting the project, that's why I am leaving.

It was an interesting experience, thank you all!

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Hey I am sorry to hear you did not have a good time on the Ferrum Network Social Mining platform. Is there anything we can do to help? Unfortunately sometimes other participants seem to believe that downvoting others work will somehow help their own results. I promise you this is NOT how it works. We never encourage downvoting except in the case of the worst kind of content (rare - probably doesnt apply in your case). Anyway, I hope you remain a Ferrum Network supporter! Big November 2019 is coming...

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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

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    Fifth year Anniversary Fourth year Anniversary 10 Posts
Hey I am sorry to hear you did not have a good time on the Ferrum Network Social Mining platform. Is there anything we can do to help? Unfortunately sometimes other participants seem to believe that downvoting others work will somehow help their own results. I promise you this is NOT how it works. We never encourage downvoting except in the case of the worst kind of content (rare - probably doesnt apply in your case). Anyway, I hope you remain a Ferrum Network supporter! Big November 2019 is coming...

Yes, as you can see I still publish summaries about announcements in 3 different languages in this forum (for instance like here https://www.altcoinstalks.com/index.php?topic=122411.0), so I'm definitely among the supporters of the project. ;)

As for Social Mining. I've got a rich feedback from many people since the date of publication on that message. And it was about the same: several people who actively supported the project stopped their activity in Social Mining mostly because of unfair downvoting. As we can see, there is one abuser of the system who does all that, but his voice is stronger then others. To give as much upvotes as the amount of downvotes I've got from him in one day I have to give all my upvotes for a half of a month. Getting so many downvotes upsets people and they just leave. Instead of strengthening the community Social Mining disappoints. There should be a protection from abusers of the system, because it is really discouraging when just one person spoils all the system. ???
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