We are pleased to announce our next AMA on November 12th 2020 at 02:00 PM UTC Time: Satoshi Club x Ferrum Network
⚠️Click to see the hour
⚠️Total Reward pool: $500
⚠️Requirements:
👉 Join Satoshi Club Telegram group
👉 Join Ferrum Network Telegram group
We will have the following structure:
Part 1: 100$ /6 users – We’ll select 6 questions from the community. A user can post maximum 3 questions. 6 Questions will be selected from our website – please submit your questions in the comments section of this post.
Part 2: 100$/10 users – Open chat for 100 seconds. You can post Max 3 questions. Ferrum Network Team will select 10 questions and answer them.
Part 3: 300$ – A quiz about Ferrum Network
For more details:
Ferrum Network – @ferrum_network
Satoshi Club – @satoshi_club
Russian – @satoshi_club_ru
Spanish – @satoshi_club_spanish
What are the plans to educate and raise awareness and adoption among the community to make more people understand about the project easily?
DeFi is one of the hottest topics in the blockchain field. Can you share your opinion about DeFi with us?
Do you think DeFi will destroy the existing financial system?
What is your project Approach towards DeFi?
Who is your investor? How do you generate revenue to sustain the project? What are your goals to the end of 2020 and beyond?
You strategically decided not to build your own standalone blockchain infrastructure and network, but instead to leverage what’s already been built with other blockchains, connecting them to your high-speed transactional layer and making possible the P2P exchange of digital assets on any network (BTC, Ethereum, EOS, etc…). Can you please tell us more how the “lock address” mechanism works when sending/receiving tokens? How does the distribution of the private keys on the Ferrum Network nodes still manage to eliminate security and privacy concerns?
In Using your Token bridge to swap assets between BEP2 and ERC-20 you warn users that a potential penalty applies to the process what are the potential penalties here and what are the actions of the users that will trigger those penalties.. the bridge currently supports only the BEP2 and ERC-20 Chains what are your plans for expansion of supported chains
Somewhere in-between one of your articles I saw that You have an upcoming product a “P2P fiat/altcoin exchange platform” this will be a big step towards mass adoption can you explain how this Exchange platform will work, what types of coins are you planning to list and for the fiats you will be onboarding what countries or regions are you looking at.. will this exchange platform differ from the decentralized or centralized Exchange platforms already available
In parts of your Governance setup you said you will mint a small number of unique FRMx NFTs for your governance committee members… what will these NFT’s be for and what will your governance committee do with them
One of your main products is the UniFyre mobile wallet, which not only simplifies with few taps on the screen the process of storing and transferring tokens via the Ferrum Network, but also introduces the “Link & Pool Drop” technology. Can you please describe a bit more the workings of this feature? Also, what are other use cases you are also envisioning, beyond easing the process of airdropping cryptos to multiple people?
I heard that the Ferrum app Kudi exchange has received a positive response in Africa. When can users outside Africa try this product? What are Ferrum’s plans for this app in terms of global expansion?
One of the news that caught my attention the most in the past was the announcement regarding the future launch of the SubZero wallet, whose aspiration is to become the first digital asset cold storage application, competing on a whole new level against established names like Trezor and Ledger. How can this digital app transform our phones into a 100% offline cold storage wallet, which at the same time is integrated with exchanges and that is also secured by military technology? Will it also be available on iOS and desktops? And when can expect a potential release date?
One of the things that attracted me to join the Ferrum community is social mining. Can you explain more about this program? Is this some kind of affiliate program? What are the benefits and requirements for joining this program?
FERRUM NETWORK has a flexible staking mechanism for any ERC-20 token, what is this 12% early withdraw and 50% and more annualized? How this works and what’s the benefit?
On your roadmap for the third quarter of 2020, you have included the launch of the foundry incubator. Can you explain what this is and how it will work?
Ferrum has around 16 projects participating on the staking platform. What is needed to join Ferrum for staking and how do you manage all these partners?
– Ferrum Network promises to solve the problem of slow transactions and the lack of interoperability of other networks. Can you explain in more detail how you will achieve this?
– You say UniFyre will change wallet addresses to links. But won’t these links, by becoming dependent on a single server, in case of failure, mean the total collapse of the system and all transactions?
– Through UniFyre you solve the problem of difficult crypto currency addresses by changing them to simple links. Doesn’t this add an additional cost to the base transaction?
You are saying that exchanging Bitcoin to Ethereum peer to peer in milliseconds for near zero network fees is possible with Ferrum Network’s interoperability protocol. How will Ferrum get profit out of all the transactions madebin your platform?
The Unifyre DeFi Staking Platform is already running. How many tokens included on the staking program so far. Is there any requirements needed to be able to stake in your platform or any erc20 tokens will do?
Can you please explain a little about the upcoming FRM Estimated Annual Yield and the PhoenixDAO Estimated Annual Yield. What can we expect with these 2, and when will you plan to introduce it to consumers/users?
A question about Sub-Zero: Does it really work offline, I mean without wifi and mega navigation on the mobile? How do you achieve this?
One of the most expensive transactions is to exchange BTC for ETH. How much would this transaction cost within Ferum Network?
Honestly, which one is cheaper, Ethereum Network or Ferrum Network?
You have two versions of staking: Staking 1.0 and Staking 2.0. What is new in Staking 2.0, what new features have you added? Why do you keep Staking 1.0, cause usually old one is removed when new version launches? Isn’t that a known type of versioning?
How does being Directed Acyclic Graph-DAG based help Ferrum Network? What are the advantages that feature brings to Ferrum over traditional blockchains?
Ferrum Network connects chains thus users can move assets across chains which is a great facility. Therefore when I go to Token Bridge page on the web, I see this notification: “transaction fees and a potential penalty apply to this process”. I understand the “fee”, but what is a “potential penalty”? Why and when can it be applied?
If I am a whale, what would be the best way to generate money with your token through the stake holding or trading?
Can you tell us what the project is about in a few simple sentences? Please try to make it as simple as possible for us peasants. DeFi can be hard
How much is the percentage of interest earned daily in ?Ferrum Network, Does it change depending on the coin or the amount of it?
Where are the collateral or funds stored or used by the Ferrum Network, How secure is a user’s fund in the Ferrum Network,
Ferrum Network has already been in the Defi world for some time, that you believe that the system is lacking for it to have a better mass adoption and that Ferrum Network plans to innovate the Defi system to be a pioneer in what is to come?
Ferrum Network launched its Staking 3.0 a few hours ago with the increase of the APY to 80%, tell us why the APY increased and what and how is this Staking 3.0 different from the others?
Will we be able to connect our unyfire wallet to different DEXes and do transactions from it? Can I use Uniswap from Unyfire?
First Kudi works as an african fiat gateway app, will First Kudi be avaliable in asian or american countries with similar economical situations of developing countries?
Can I swap my BTC for the equivalent in Fe tokens? Where would I use it, would I earn any revenue for holding it?
I see that Ferrum has 2 wallets, what is the differencebetween the Unyfire and Sub-Zero wallet according to their use cases?
As stated in your website that holding FRM and FRMx in UniFyre Wallet amplifies monthly rewards. When holding both tokens together you will be able to receive up to an Annual Percentage Yield (APY) of 30% without having to lock up tokens. So with this scenario how can we earn APY if it is not locked up? How does APY being calculated by just holding? What is more profitable in Ferrum Network, holding or staking? What is the difference between staking and holding in terms of applying it in your network?
Can you briefly explain here in Satoshi Club what is the difference between Staking 1.0 from Staking 2.0 version of Ferrum Network? Why does your network publish 2 version of staking? Which is more profitable with the two version of staking?
In your FRM Token Bridge features, you have two swapping options the Swap Erc20-Bep2 and Bep2-Erc20. So do you plan to add more token version with this feature in the future? Is this applicable to bridge with exchange wallets or ERC20 or BEP20 wallet only?
To avoid diluting the pool, there should be maximum cap of Tokens to be owned by the owners.
What’s the owners Token in Ferrum network and how long will the tokens be locked?
Does FERRUM,s new Staking project DEFHOLD will really be for the long term holder or can be on a short-term also?
With the DEFI market is at the best right now,What does Ferrum think about the competition?as many new projects are also evolving
FRM is used as gas fees for swaps between ethereum and Binance chains? What tokens are used for gas for exchanges between other blockchain that aren’t the two above?
First Kudi states users can buy FRM directly with Nigerian currency. Is this limited to only Nigeria? And is it only FRM that can be bought with the First Kudi app?
As “the first cross chain DEX” what marketing strategy is in place to ensure Ferrum Network becomes widely well known in the crypto space?
ferum has manage sign a lot of staking partners, how do you manage to attract them and what synergy has they brought to ferum ?
ferum has a foundry incubator that has incubated into a lot of projects, how does ferum curate and evaluate all this project ?Which sector is currently the focus of the incubator in the next year ?
do you see the eth 2.0 as a threat to ferrum network as it will reduce the txn fee and increase the txn speed ? Currently you have the erc20 to bep2 bridge, what other bridge has been plan for?
the inifinity dex seems to be an exciting project, what assets will be listed on it ? will it be operating ala Uniswap AMM style ? What would be the advantage over the current DEX in the market ?
Any way Ferrum Network work with other blockchains? crosschain, atomic swaps, etc
I see that Ferrum has its own Exchange called kudi exchange. Tell us something about it like, will you add margin trading Or something like if you can explain
Currently How many countries does your payment solution currently reach?
Is there a bank or government in the country you want to link to using your technology? @ifriend05
After checking Ferrum Network website, I found there are 2 token FRM and FRMx. I’m a little bit confuse, do these 2 token have similar function? What function thats make them different?
Tell us about the tiered system for those wishing to participate in a private sale. I would like to know about all the requirements
Ferrum Staking 3.0 what is it? Usually these numbers in the name 2.0 or 3.0 indicate an improved version of some product. Tell us about what happened and what will happen with the advent of Ferrum Staking 3.0
Can you elaborate on the DEFI product that will be integrated with FRM? What are the next apps that we can expect on this front?
Ferrum Network has built a bridge between Ethereum network and Binance Chain as i see on your site. But thousands of users are using also BTC and coins based on BTC codebase. Do you plan to construct the same bridge with BTC? When?
Is UniFyre just a wallet or something more? What operations can be done inside the wallet? Take a short tour
I clicked “Getstarted” on the staking tab of your site and found that all plans are marked as “filled”. Does it mean that you don’t accept new users&investors? How can someone new join to any staking plan? Could you explain?
There are not so many of info about the Foundry, your incubator. Could you tell more detailed what conditions should a dag based project match in order to get incubated?
You have compared FRMx to the American Express black card for Ferrum holders: very rare, very valuable and very useful. Link this to the creation of a new dynamic reward system. Please tell us in more detail what is the uniqueness of this system.
For small FRM holders, you have announced a lottery in which 5 people will be randomly selected to receive 1 FRMx. How will the winners be determined and what are the conditions for participation in the lottery? Is this promotion permanent?
How long does a transaction take on your platform? And are you striving for the perfect timing?