Ferrum Network AMA Recap Crypto Revolution Community

By Crypto Revolution | Crypto Revolution Telegram Group AMA Recaps | 18 Jan 2021

On 16th of January Ferrum Network conducted an AMA in Crypto Revolution Community. It was really special one and first VIP AMA in the group. Our guest was IAN FRIEND, Co-Founder of Ferrum Network. Let’s take a look at most interesting points from our conversation with IAN.

INTRODUCTION

Danny | Crypto Revolution: Welcome IAN. I’m so happy to have you back here. First time was back in June 2020.

Ian Friend | Ferrum Network: Glad to be here! We’ve come a long way since then!

Danny | Crypto Revolution: We were introducing actually UniFyre Wallet to people in that day. How many downloads currently UniFyre have since June last year?

Ian Friend |Ferrum Network: Well we have nearly 10,000 now. In June 2020 we had probably only about 1000.

Danny| Crypto Revolution: Really impressive. So before we kick to cover all this information for Ferrum Network which is quite a lot Could you please introduce yourself for the Community?

Ian Friend | Ferrum Network: Yes of course. My name is Ian Friend and I am the co founder of Ferrum. Prior to Ferrum I was practicing law in New York at some big law firms. I got into crypto as an investor in 2017 and discovered there could be a professional opportunity for lawyers. So I founded the blockchain practice team at the law firm I was working at, and a few months later met my co-founder Naiem at a networking event. A few months after that, Ferrum won a competition to pitch on the main stage of the biggest blockchain conference in the world. That was May 2018. We have been non stop working on Ferrum ever since.

Danny | Crypto Revolution: When you met Dominik Swierkot? People here know him more as Domscrypto from Twitter 😁

Ian Friend |Ferrum Network: Ah yes we met Dom about 6 months later. I was messaging influencers on Twitter about something (I forget what) and he responded and we got to talking. It turned out he had the perfect skill set to be our CMO. We hired him almost on the spot and he has been with us ever since as in indispensible member of the core Ferrum team. Has a really wide ranging skill set and a work ethic that is perfect for Ferrum

Danny| Crypto Revolution: Yeah. He is really hard working man as all of you from Ferrum Team. I see lately guys that you have Communities all over the World. Even Ferrum Network Videos in different languages started to popping up. How many local Communities you have at the moment

Ian Friend |Ferrum Network: Yes! Crypto is worldwide so Ferrum must also be worldwide. We always had international communities, but now we are really focused on growing them and working with influencers from all over the world.

Danny| Crypto Revolution: Great man. Let’s start with covering all the information for Ferrum now. Could you please first present Ferrum Network to Community in layman’s term ( in few sentences )?

Ian Friend | Ferrum Network: Ok sure so Ferrum Network has built a DeFi ecosystem with 4 working products, 20,000+ active users, 50+ staking clients, an incubator, and so much more.
heres a nice overview
https://www.youtube.com/watch?v=0K6un2MDoPQ&t=5s

Danny| Crypto Revolution: Thank you. Chat watch the Video. It’s really easy to understand what is Ferrum Network about.

TWITTER QUESTIONS

Q1 from @sacretlyardianz

Can you tell us what benefits UniFyre has for FRM Holders and how this affects the value of FRM?

Ian Friend |Ferrum Network: Sure so UniFyre Wallet is the Ferrum non custodial mobile wallet with advanced features like Link Drop technology and in-app staking. Holding your FRM there has many benefits like monthly rewards (ferrum.network/rewards) and access to pre-sales of our incubated projects like Bondly (did 17x) and Poolz (did 15x). The minimum to get access to pre-sales is 25,000 FRM. Because of these benefits, there are at least 60 million FRM being held on UniFyre Wallets and it means many people just buy and hold the token. So this has a positive impact on the value.

Danny | Crypto Revolution: So the minimum Amount to get Benefits is to hold 25 000 FRM? Boldly and Poolz are really doing great. I’ve been watching both!

Ian Friend |Ferrum Network: Yes, that is the minimum. But we keep revising it down as the price rises because we want to be fair to new investors.

Danny| Crypto Revolution: Yes. I was going to ask that cause many small Investors can’t have such an amount.

Ian Friend | Ferrum Network:

Adding New Steps Between the Pre-Sale Benefit Tiers

Dear Ferrum Community,

medium.com

Danny |Crypto Revolution: Thank you. Important article to go though for everyone. So people facing any problems using UniFyre Wallet or is all good. Any tutorials you can share for people downloading it now? 😀

Ian Friend | Ferrum Network:

How to Open a Unifyre Wallet Account & Back Up Your Keys

In this article, we’re looking at a step by step guide on opening your Unifyre Wallet and securing your keys in a…

medium.com

There should not be any problems but if there are, an admin is always there to help you!

Danny| Crypto Revolution: 60 million FRM is insane. I can bet this amount is growing all the time.

Ian Friend | Ferrum Network: That was as of the last snapshot. Another snapshot is tonight in order to see who qualifies for Operation Iron Mountain! I wonder how much FRM is being held there now.

Danny | Crypto Revolution: For sure will be way more. Since you are mentioning Operation Iron Mountain could you please share more information about it?

Ian Friend | Ferrum Network: Yes Operation Iron Mountain is a 3 part initiative: 1) FRM listing on a tier 1 exchange; 2) a VIP fund raise with access to our top FRM holders; 3) a VIP staking round for everyone who paritcipates in the raise
https://www.youtube.com/watch?v=THAs_XF0J_k

If you want to get involved, you simply need to hold 50,000 FRM in your unifyre wallet. Then you can participate in the VIP raise (and invest in FRM at a 5% discount) and the VIP staking round (APYs of 150%).

Q2 from @CalebKure

Do you have any plan for building Nfts into your eco system because that is the hottest topic on crypto space?

Ian Friend |Ferrum Network: Yes we do! We are talking to the #1 NFT strategist in crypto and he wants to come onboard to lead our NFT strategy. I can’t reveal much now but its going to be amazing. Top quality NFTs with real valuable utilities to complement our ecosystem! Cant wait to reveal more. We will start announcing more about it in February.

Danny | Crypto Revolution: That’s great. Btw are you still working with BONK. Seal is pretty talented 😁

Ian Friend |Ferrum Network: Yes we know BONK and Seal very well. Id love to collaborate with them more. Ill speak with him closer to the time we launch the NFTs.

Danny| Crypto Revolution: So we are all very excited for February and the NFTs 🙂

Q3 from @waybesuricata

When I looked at your roadmap, I saw that you had a Main Net Launch plan in the first quarter of 2021. Could you give us detailed information on this subject? What benefits will it have for users and your project?

Ian Friend |Ferrum Network: Yes to the main net will be coming in 2021. Its a very innovative main net that actually interoperates with other chains and allows you to send/exchange any crypto in milliseconds for near zero fees. It does this uses our unique wrapping technology and moving those wrapped tokens onto our DAG based network. Every transaction on the network will cost about 1c-5c in network fees, paid in FRM. A part of that is burned and another part returned to those running nodes.

Danny | Crypto Revolution: This sounds really good. We all tired from insane Gas Fees last few weeks. There is problem going on Bitmax Exchange (it was resolved by the time of the AMA) where people can’t withdraw their Ferrum. From where you advice people to buy Ferrum at the moment?

Ian Friend | Ferrum Network: Oh that is resolved as of yesterday (15.01.2021)! Withdrawals are open. But id advise buying your FRM and then moving it into your own wallet (preferably UniFyre) because keeping your money on an exchagne is very risky

Danny| Crypto Revolution: True. Agree on that

LINKEDIN QUESTION

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Ian Friend |Ferrum Network: Yes Ferrum has a huge staking as a service business with over 50 clients: ferrum.network/staking-statistics

When determining who we will work with, we like to work with good projects but at the end of the day its a paid service where we provide them staking technology. However, we are now very careful and dont work with anonymous teams any more. Its too risky for the Ferrum brand. So now we work with less projects, but better ones.

Danny| Crypto Revolution: So only doxxed teams?

Ian Friend | Ferrum Network: Well actually we have an exception. The team can be anonymous if they have technology out. If they have tech, it shows they are serious and probably will not rug pull.

Danny| Crypto Revolution: What is your best advice regarding this? How people can stay away from Rug Pulls. Most of them don’t have patience to wait! I’m pretty sure you have a lot of successful stories where Ferrum Network is involved. I personally have been into Ferrum since January 2020 and I know what you did for 1 year 😁

Ian Friend |Ferrum Network: My advice is that you should never try to get rich quick. It usually does not work and you will take unecssary risks and lose money. instead practice patience and value investing. Find solid projects and just hold them. With FRM you can hold FRM and then get access to 100% vetted projects like Bondly and Poolz. So its a win-win. Dont gamble on anonymous projects. Its not worth the risk when you can do a 15x like our investors did with Poolz and take much less risk.

Danny| Crypto Revolution: Well said IAN. Chat get involved in Long Term Projects like Ferrum. I’m sure January 2022 me and IAN will talk for the Progress Ferrum made in 2021 and I can bet will be a huge one!

FACEBOOK QUESTION

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Ian Friend | Ferrum Network: Great question! So FRMx is our governance/staking token. We did a fair launch of FRMx in October meaning no presale. It has a number of utilities like greater pre sale allocations and access to the governance committee. Investors in FRMx have done incredibly well. Its launched at $20 and is now over $5000. The primary way to get it (other than uniswap) is to stake FRM. In fact we will be doing a FRM staking round very soon! Along with Operation Iron Mountain
https://www.coingecko.com/en/coins/frmx-token

Danny| Crypto Revolution: And there will be Pools for Investors with less possibilities as I heard, right?

$20 to $5000 is kinda killing. 😀

Ian Friend |Ferrum Network: Yes correct! There will be a traditional staking pool where the minimum to participate is only 5000 FRM.

Danny | Crypto Revolution: Could you please share more information about Evolution Finance powered by Ferrum Network Technology ( it’s a Community Request Question) 😁

Ian Friend |Ferrum Network: Yes so Evolution Finance is a DeFi project that we are core partners in. We in fact built the technology behind it. Its a lending/borrowing platform with a number of unique aspects and a fair launch. Starting mcap is only $300,000. So I think it will do very well in the short and long term.

Danny| Crypto Revolution: I guess more information will come in the next few days how people can participate in.

Ian Friend |Ferrum Network:

Introduction to Evolution Finance: Part 2

Evolution Finance has created an innovative token design. While the token’s uniqueness may capture all early attention…

medium.com

An advanced liquidity lock system, deflationary token supply, and first-ever liquidity provider hard cap are powerful token measures.

Yet, the core of Evolution Finance is the creation of a robust lending business that targets a 10x greater market than any existing competitor, developed and grown with the support of industry leaders. The project’s remarkable depth is covered in the article below.

UPTRENND QUESTION

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Ian Friend |Ferrum Network: I think for anyone following us, youll see that we are constantly innovating and constantly building valuable technology and finding ways to add utility and give back to our community. Its these core values and approach that has lead to our success.
In terms of helping us grow, just join our community and participate! Get some FRM in your UniFyre Wallet and participate in the pre sales and get your monthly rewards!

QUIZ PART

Question: How much FRM is required to get into the lottery tier of pre sales? and how much FRM to get a guaranteed allocation?

Answer: 25,000 for the lottery tier and 50,000 for the gauranteed tier (see the new updated tier article on medium.ferrum.network)

Question: Approximately how many projects are using Ferrum Network for their staking?

Answer: Ferrum’s Staking-as-a-Service is now used by nearly 50 projects with $15 million TVL.

Question: What are the 3 components that together make up Operation Iron Mountain?

Best Answer: With Operation Iron Mountain, we are ready to climb into the top 100 of … Listing with Combined VIP Community-Based Raise and VIP Staking Round … In the run-up to the upcoming global exchange listing, Operation Iron … high-yield exclusive VIP staking pool with a duration of three months and a highly.

TELEGRAM QUESTIONS

Telegram User:

I tried to make a swap Trust Wallet with FRM but have a high spread in the price. FRM in Binance Dex it’s with low volume. Have plans to make it better? It”s little hard for me to use Ethereum because the gas is high.

Ian Friend |Ferrum Network: We are not going to focus much on Binance DEX beucase not a lot of users. But we are listing on a global tier 1 exchange very soon! So youll be able to trade there without paying high gas fees.

Telegram User:

What is the main usecase and utilities of ferrum token in ferrum network ?

Ian Friend |Ferrum Network: There are 7 utilties for the FRM token: ferrum.network/utilities . Each product has token utility built into it. The most exciting one now is probably access to pre sales. But there are 6 others.

Telegram User:

Many Project talks only about their Strenghts, Can You talk about the weak point that You project is Currently Dealing With?

Ian Friend |Ferrum Network: Yes one challenge we have is that we are incredibly busy. We have grown so much in the past 6 months that we need to hire more people soon. We will be interviewing devs soon if you know anyone interested!

CONCLUSION

Danny | Crypto Revolution: Thanks for your valuable time IAN.
So far longest AMA for 2021. 90 minutes 😁Hopefully we covered everything.
Anything to add for Community before I open the chat?

Ian Friend |Ferrum Network: I have nothing else to add other than I want to thank Danny for being an incredibly strong Ferrum supporter and I hope this entire community comes onboard to the Ferrum community! Please join us here and join this incredible journey with us! We are still just getting started with so much more in the pipeline!
https://t.me/ferrum_network

Danny | Crypto Revolution:

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