Ferrum Network (FRM) Cross Chain - ICO Review, Rating and Details of Ferrum Network ICO (Token Sale) - Rating: Gamble

Ferrum Network is a high-speed interoperability network built for real-world financial applications. It is comprised of two interconnected elements: (1) a DAG-based interoperability network that can connect to nearly any blockchain enabling peer-to-peer transactions of any digital asset in milliseconds, and (2) the vertically integrated financial applications running on the network that allow users to buy, sell, transact, exchange and store any digital asset without taking custody of those assets.

Problems & Solutions

We live in a multi-token world, with thousands of digital assets residing across hundreds of separate blockchains. Bitcoin, Ethereum, Ripple, IOTA and EOS are all examples of major digital currencies with their own unique use cases. The ecosystem benefits from a wide variety of networks, tokens, and projects, all aiming to build a fairer, more inclusive world. However, a fundamental challenge remains – how to enable communication, transaction and exchange across hundreds of separate and distinct networks? In other words, how can we enable the myriad blockchains to interoperate.

The challenge posed by interoperability goes beyond academic theory – it is a fundamental issue that pervades the entire crypto ecosystem and directly impacts all crypto users. It is a primary reason why we have not meaningfully achieved Satoshi Nakamoto’s vision of a “purely peer-to-peer version of electronic cash that allow online payments to be sent directly from one party to another without going through a financial institution”.i It is one reason the vast majorities of currencies are exchanged through traditional, trust-based centralized exchanges.

The current solutions to the challenge of interoperability, such as atomic swaps and decentralized ERC-20 networksii are laudable, yet greatly limited in terms of speed, scalability and functionality. To date, a decentralized network enabling the fast, inexpensive and functional exchange of any digital asset across any blockchain has not been successfully implemented. Instead, powerful centralized exchanges have been erected, wielding outsized influence over the ecosystem, introducing third-party risk, and undermining Nakomoto’s original vision. At the same time, many existing offerings of decentralized exchanges are not satisfactory due to a combination of limited token offerings, poor user experience, and slow transaction times.

Enter Ferrum Network, enabling the fast and inexpensive peer- to-peer exchange of any digital asset, regardless of originating blockchain. Ferrum is a decentralized platform where users can manage, transact and exchange their digital assets without passing the custody of their assets to a third-party. Built on a directed-acyclic graph (DAG) network, Ferrum has inherent advantages over traditional blockchains in terms of speed, cost and scalabilityiv. By utilizing Ferrum’s groundbreaking technology to securely import and export value across chains, users can deposit any asset into Ferrum Network creating a proxy token that can be transacted and exchanged using the UniFyre Wallet or other forthcoming exchange products. To get started with Ferrum Network products, users can purchase their digital assets directly with fiat money using their fiat gateways, beginning with their West African based fiat gateway, Kudi Exchange.

Features & Highlights

  • Cross-Chain Interoperability - a next generation protocol designed to connect with every blockchain

  • High-Speeds and Low Costs - peer-to-peer transactions that confirm in milliseconds for around 1 cent in network fees

  • Integrated Line of Financial Products - buy, exchange, transact, and store any digital asset using advanced financial applications that run on the network

  • Launching with Users and Network Utility - real products, real users, proven business practices.

Token Allocation

"Public Sale","Private Sale","Seed Sale","Team","Advisors","Marketing","Reserve","Ecosystem","Incentivization Pool" {"name": "Public Sale","value": 6},{"name": "Private Sale","value": 15},{"name": "Seed Sale","value": 3},{"name": "Team","value": 10},{"name": "Advisors","value": 8},{"name": "Marketing","value": 15},{"name": "Reserve","value": 16},{"name": "Ecosystem","value": 22},{"name": "Incentivization Pool","value": 5}

Token Utility & Use Cases

Ferrum Network runs on its native token, the Ferrum Token, or FRM, as the gas of the network. As a true utility token, the FRM is necessary to prevent malicious actors from spamming the network and to present proof to the network in order to run transactions. It is also used to increase transaction speeds, activate the Sub-Zero Wallet, reduce fees on the Infinity DEX, import and export value to and from the Network, among other functions. Finally, Kudi Exchange will cost FRM to use, but Kudi has agreed to pay this cost for users up to a per-user limit for a promotional period.

Roadmap & Updates

  • Q1 2018
    • Testnet Prototype Developed
  • Q2 2018
    • Finalist at Consensus 2018 Pitch Competition
  • Q3 2018
    • UniFyre Wallet beta release w/OTC trading support
  • Q4 2018
    • MVP complete w/BTC, XRP and ERC-20 support
  • Q1 2019
    • Kudi Exchange release
  • Q2 2019
    • Kudi Business features release
  • Q3 2019
    • Public test-net launch
    • Public sale
    • UniFyre Wallet release
  • Q4 2019
    • Interoperability network main-net launch
  • Q2 2020
    • Sub-Zero Wallet release
  • Q3 2020
    • Infinity DEX w/advanced features release
    • Expand fiat gateways into new markets
  • Q4 2020
    • Payments platform and more

Partnership Overview

  • TLG Ventures - TLG Ventures is a venture capital firm founded by three crypto entrepeneurs, from backgrounds as diverse as medicine, business and IT, who have been investing in blockchain startups for several years. The collective experience of these founders has proven to be an invaluable asset to the projects and start-ups that the firm has invested in. In order to ensure that projects backed by TLG are those with a higher chance of success, we are very selective about the companies we invest in. TLG applies a proprietary method to evaluating these projects in order to ensure that they meet our strict standards before they secure our backing.

  • Token Research Group - They are a group of blockchain enthusiasts, passionate about bringing transparency to the industry. Their analysis assists a wide range of investors, from those entering the crypto space to more established investors. Their specialist research and deep experience in the crypto market provides the fundamental due diligence on Blockchain projects, which is essential for making informed financial decisions.

  • Hydro - Hydro is an open-source blockchain project, with a global community dedicated to solving the unbanked problem.Hydro’s vision is to be the life of a new global decentralized economy, allowing for secure and interoperable decentralized applications across P2P payments, B2B payments, Point of Sale, Remittance, Lending, Credit, Savings, and Tokenization. This new ecosystem is built on top of our revolutionary ERC-1484 identity standard. With your help, Hydro can reach its goal of getting over 1 Billion unbanked people access to the financial system.

  • Gemini - They are a licensed digital asset exchange and custodian built for both individuals and institutions. They are a New York trust company regulated by the New York State Department of Financial Services (NYSDFS). Gemini is a fiduciary and subject to the capital reserve requirements, cybersecurity requirements, and banking compliance standards set forth by the NYSDFS and the New York Banking Law.

  • Fusion Foundation - Fusion Foundation is a non-profit organization building the next generation infrastructure for decentralized global finance. By empowering companies and developers with the open source technology they need to build innovative financial applications, Fusion facilitates a world of increased financial efficiency, accessibility and transparency.

  • Vectorblocks - They are a global blockchain strategic advisory firm. They innovate with custom made business strategies, all designed to help their clients achieve their full potential and establish trusted, long-term relationships with their communities.

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