1) In today's market it's increasingly difficult to select high quality cryptocurrencies.
Most fade away and as such we need to search for the best fundamentals.
A thread on $FRM and why you should take a look at this cryptocurrency.
Read on 🧵👇
@FerrumNetwork #frm
Most fade away and as such we need to search for the best fundamentals.
A thread on $FRM and why you should take a look at this cryptocurrency.
Read on 🧵👇
@FerrumNetwork #frm
2) There's a well known blockchain maximalist argument that says:
"Network X is destined to carry the whole blockchain space on its shoulders".
It's not uncommon to hear every blockchain being evaluated depending on its potential to be an Ethereum or Bitcoin “killer.”
"Network X is destined to carry the whole blockchain space on its shoulders".
It's not uncommon to hear every blockchain being evaluated depending on its potential to be an Ethereum or Bitcoin “killer.”
3) Some people (and mostly the smart ones imo) believe that interoperability should be the foundation of Web3.
A believe that the future is multi-chain and we will live in a world where not all blockchains compete with each other but co-exist AND complement each other.
A believe that the future is multi-chain and we will live in a world where not all blockchains compete with each other but co-exist AND complement each other.
4) ENTER FERRUM NETWORK
Ferrum looks to enable the same level of seamless compatibility between Substrate based chains and both EVM and non-EVM
compatible networks.
It's infrastructure aims to bring value, data, and functional interoperability to every chain in the industry.
Ferrum looks to enable the same level of seamless compatibility between Substrate based chains and both EVM and non-EVM
compatible networks.
It's infrastructure aims to bring value, data, and functional interoperability to every chain in the industry.
5) Ferrum isn't a newcomer in this industry.
While the foundation obviously started earlier, the token itself was released in 2019.
Like a good company that improves and adds new products to the market, Ferrum isn't today what it used to be back then.
While the foundation obviously started earlier, the token itself was released in 2019.
Like a good company that improves and adds new products to the market, Ferrum isn't today what it used to be back then.
6) It used to be widely known as offering "staking as a service" solutions for over 200 projects and providing advisory services.
Due to this they've always had REAL revenue and not fall victim to any market conditions.
They actually thrived and expanded.
Due to this they've always had REAL revenue and not fall victim to any market conditions.
They actually thrived and expanded.
7) Today they are focused on "interoperability 2.0".
This means the advent of multichain smart contracts and multichain dApps.
A future where projects can build dApps that not only exist across multiple ecosystems but leverage the specific value propositions of each one.
This means the advent of multichain smart contracts and multichain dApps.
A future where projects can build dApps that not only exist across multiple ecosystems but leverage the specific value propositions of each one.
8) An application that leverages the speed of Solana, the security of Ethereum, and the built-in governance of Polkadot.
Pretty awesome right.
All good on paper however but what did Ferrum actually already accomplish toward this goal?
Quite a lot actually.
Pretty awesome right.
All good on paper however but what did Ferrum actually already accomplish toward this goal?
Quite a lot actually.
9) Phase 1: The Ferrum cross-chain bridge.
A while ago, Ferrum launched the Ferrum Cross-chain Token Bridge in response to the over $2 billion hacks through interoperability protocols.
They reimagined how assets move across networks by eliminating the ‘lock and mint’ mechanis.
A while ago, Ferrum launched the Ferrum Cross-chain Token Bridge in response to the over $2 billion hacks through interoperability protocols.
They reimagined how assets move across networks by eliminating the ‘lock and mint’ mechanis.
10) This approach boasts nearly $200 million in bridged volume without ever having more than a few hundred thousand USD locked on the bridge at any given time.
This improves the security a lot and removes the incentivization for hacks to take place.
Safely bridging.
This improves the security a lot and removes the incentivization for hacks to take place.
Safely bridging.
11) Phase 2: multi-swap.
Ferrum is now in the process of upgrading the Ferrum Cross-chain Token Bridge to MultiSwap.
Users can swap any asset for any other asset on any blockchain in less than 2 minutes.
Ferrum is now in the process of upgrading the Ferrum Cross-chain Token Bridge to MultiSwap.
Users can swap any asset for any other asset on any blockchain in less than 2 minutes.
12) So far, v1 of the product is compatible with Ethereum, Polygon, BSC, Moonriver, and Avalanche.
They are in talks with many other EVM and non-EVM compatible networks as they aim for MultiSwap to be the most interoperable protocol on the market.
They are in talks with many other EVM and non-EVM compatible networks as they aim for MultiSwap to be the most interoperable protocol on the market.
13) Phase 3: Ferrum mainnet and multichain dApps.
The last phase is the creation of multichain dApps.
Blockchains initially aren't designed to work together.
The Ferrum mainnet is designed exactly to do that.
The last phase is the creation of multichain dApps.
Blockchains initially aren't designed to work together.
The Ferrum mainnet is designed exactly to do that.
14) Ferrum Network will enable a frictionless environment for developers to deploy multichain dApps and for users to engage in a fully interoperable Web 3.0
All in the most secure way possible.
All in the most secure way possible.
15) While all of this is close to being live with their upcoming mainnet Ferrum also has an existing list of products which they call the "Ferrum gateway".
An all-in-one DeFi hub that is evolving consistently.
One of them is the staking service they deployed in 2019.
An all-in-one DeFi hub that is evolving consistently.
One of them is the staking service they deployed in 2019.
16) Another one is their latest product called "crucible".
Crucible allows users to mint FRM and FRMx tokens for cFRM and cFRMx.
These assets are stakeable but also have transaction fees associated.
These fees are then distributed back to those staking cFRM and cFRMx.
Crucible allows users to mint FRM and FRMx tokens for cFRM and cFRMx.
These assets are stakeable but also have transaction fees associated.
These fees are then distributed back to those staking cFRM and cFRMx.
17) Unlike the case with unsustainable rewards models, these reward tokens are not sourced from the inflationary emissions schedules, treasury, marketing budget, or any other uncirculated token supply.
The video below is a way better explainer 👇
The video below is a way better explainer 👇
18) Token utility.
FRM is required for users to interact with the network.
It is also used as the fee token for MultiSwap and is deflationary in nature by way of Crucible.
By holding both FRM and FRMx, community members can gain access to presales.
FRM is required for users to interact with the network.
It is also used as the fee token for MultiSwap and is deflationary in nature by way of Crucible.
By holding both FRM and FRMx, community members can gain access to presales.
19) There's also FRMx which is the native cryptocurrency of the FerrumX Network and is the necessary gas token for users to interact with the network.
it's also deflationary in nature by way of Crucible and is also a Governance Token.
it's also deflationary in nature by way of Crucible and is also a Governance Token.
20) What's next?
The images below are taken from their roadmap what we can expect and when we can expect them.
The main focus looks to be their mainnet development.
The images below are taken from their roadmap what we can expect and when we can expect them.
The main focus looks to be their mainnet development.
21) TEAM
Naiem Yeganeh is the founder and CEO with an incredible resumee. He worked as a software engineer at both Amazon and Microsoft.
Ian Friend is the co-founder and COO with previous roles as strategic advisor at multiple companies.
Naiem Yeganeh is the founder and CEO with an incredible resumee. He worked as a software engineer at both Amazon and Microsoft.
Ian Friend is the co-founder and COO with previous roles as strategic advisor at multiple companies.
23) They are currently working on releasing a new whitepaper to reflect their new products and upgrade to "Ferrum network 2.0".
Here's where the updated tokenomics will also be posted to reflect their "deflationary nature".
As such I decided to wait to post the current supply.
Here's where the updated tokenomics will also be posted to reflect their "deflationary nature".
As such I decided to wait to post the current supply.
24) Conclusion:
Ferrum network got a lot of things going for it.
One of the things I like is they they have REAL revenue AND have been in the space since 2019 and still building and thriving.
This removes the risk of the team quitting with what they initially intended to do.
Ferrum network got a lot of things going for it.
One of the things I like is they they have REAL revenue AND have been in the space since 2019 and still building and thriving.
This removes the risk of the team quitting with what they initially intended to do.
25) They've already proved they are here to stay.
Another thing is that they released quite a bit already which means it's not just a pretty concept on paper.
They've got a lot of shoes to fill with their ambitions but I for one will be keeping them on my radar.
Nova out ❤️
Another thing is that they released quite a bit already which means it's not just a pretty concept on paper.
They've got a lot of shoes to fill with their ambitions but I for one will be keeping them on my radar.
Nova out ❤️
26) If you want to keep up to date to most of my content and interesting projects give me a follow @CryptoGirlNova.
I also research the communities top voted cryptocurrency every week so you can keep track of all the most exciting projects.
Your favorite writer Nova ✍️
I also research the communities top voted cryptocurrency every week so you can keep track of all the most exciting projects.
Your favorite writer Nova ✍️
27) If you had value from this and liked this thread, it would really bring a smile to my face if you could retweet the first post so this can help as many people as possible.
Everyone deserves free knowledge 📘
Love you all ❤️
First post 👇
Everyone deserves free knowledge 📘
Love you all ❤️
First post 👇
https://twitter.com/CryptoGirlNova/status/1580297713878732807?t=yczjkdivlv_ZarZHiR2jNw&s=19
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