Have a Blessed New Year to everyone!!!
A brand new year is another year for Ferrum Network for another milestone to come for the team and for the community itself.
Before we go forward this 2020, I have search some milestone from last year 2019 that truly say that Ferrum Network is one of the best and most useful project from last year and now to come.
Products and Services
- First Kudi is the only FinTech app in West Africa for instant fiat payments through phone numbers, access to investment in digital currencies, low cost merchant services, and bank accounts for the unbanked.
- Beta testing began in March 2019, and the beta version was launched in the Google Play store in May 2019
- Between May and December, we updated the app four times based on early adopter feedback, including an update that provided bank accounts for all our users and integrated the Kudi bank card in partnership with Stanbic bank.
- The First Kudi team was extremely busy on the ground in Nigeria — hosting numerous events, educating people about the benefits of the app, and who could forget the time Kudi was featured on the BBC!
- At the end of 2019, we announced two major milestones: adding FRM and ETH and the addition of First Kudi to the Apple store.
- Now with the technology in place, First Kudi is ready to expand into Ghana, and reinitiate its aggressive marketing campaign to begin scaling.
Flexible ERC-20 Staking
Given the popularity of staking and DeFi, we wanted to launch an early version of staking that works with any ERC-20 token. Here’s a short recap of FRM Staking 1.0.
- In November 2019, we launched our staking version 1.0 with three tiers of staking pools, and rewards as high as 50% for the 18 month staking pool.
- The total amount of FRM locked for staking is 8,412,666 (all pools) + 2,397,260 locked for rewards, equalling around 10% of FRM circulating supply.
- We are now in the process of formulating staking 2.0 (“FRM Stake and Earn”) with assistance from the community. You can get involved here!
The Ferrum Network Token Bridgewas built from the ground up to enable fast, easy swaps of ERC-20 and BEP-2 FRM. Here’s a recap of its development.
- The Token Bridge was launched in early August 2019 a few days after our listing on Bitmax.io.
- It was built from the ground up using Ferrum Network technology for increased security and ease of use, as explained in this article.
- It is powered by the FRM token and users are required to spend approximately 50 tokens per swap.
- To date, our community has swapped millions of FRM tokens using our Token Bridge and has provided utility for the token.
Marketing and Community
Community is everything to Ferrum, which is why we have made concerted efforts to grow and support the community through Social Mining, AMA campaigns, and a constant social media presence. Here are some highlights:
- Social Mining: a community-driven marketing platform that rewards FRM holders for creating valuable social media content. We have over 3000 users, about 10 million FRM tokens “staked” in social mining, and hundreds of participants receive approximately 260,000 FRM every month. Social mining will run into late 2020, so Sign up Now and start earning!
Looking Towards 2020
Here are some of the upcoming initiatives Ferrum Network for 2020.
- Staking 2.0 (“FRM Stake and Earn”): thanks to your invaluable feedback, we are excited to be launching the new and improved FRM Stake and Earn. Stay tuned for more announcements over the coming weeks.
- UniFyre Wallet: regrettably, we were unable to launch UniFyre in Q4 because the engineering on First Kudi (bank accounts, iOS version, FRM/ETH) took longer than expected. However, we opened private beta testing and have been getting valuable feedback on the early version of UniFyre. UniFyre will launch in Q1 2020.
- Ferrum Fiat Gateways: our vision is to create an integrated ecosystem of fiat gateways, non-custodial wallet, DEX and cold storage that allow people around the world to take control of their money. We are happy to report that two additional fiat gateways are in progress, and we hope to announce at least one of them in Q12020 and definitely more to come in 2020.
If you want to participate and join the community. Sign Up Here.