Ferrum Network

FRMx Token

Dear Ferrum Fam,Some time ago, we outlined a plan to reduce emissions of FRMx. At the same time, we have also been adamant about wanting to encourage Crucible staking while incentivizing folks to do so.In this article, we will dive into a few changes we are making to the FRM and FRMx utilities that we believe will benefit the overall health of Ferrum’s token economy.<h2 id="header-0">Rebranding to Ferrum Monthly Airdrops</h2>As part of the changes that you are about to read more about, we have decided to change the name of Monthly Holder Rewards to Ferrum Monthly Airdrops.To be frank, the main motivation behind the name change pertains to the SEO-friendly nature of the new name coupled with the fact that Airdrops are all the rage these days. Monthly Holder Rewards have always been airdrops so we might as well capitalize on the catchier naming convention!New Staking RequirementsUp until now, FRM and FRMx holders have been able to access both Ferrum Advisory Services presales and Monthly Holder Rewards by either simply holding cFRM and cFRMx OR staking cFRM and cFRMx. Starting from the next snapshot for November 2022 onwards users will be required to stake their cFRM and cFRMx holdings in order to qualify for both Ferrum Monthly Airdrops AND FAS presales.<h2 id="header-1">Why the Sudden Change?</h2>It has long been the goal at Ferrum to reduce the emissions of FRMx. We introduced a phased approach a few months back that started with the advent of Crucible. Along with the reduction of FRMx of emissions, another goal at Ferrum in recent months has been to bolster the value propositions of staking in Crucible.Reducing EmissionsWhile the new requirements to stake cFRM and cFRMx in order to access presales and Ferrum Monthly Airdrops doesn’t directly reduce FRMx emissions, it does make the currency more deflationary. Due to the reflection mechanisms imposed by Crucible, every time a user unstakes from Crucible, a small fee is charged. While 90% of this fee goes back to those who remain staked, 10% is burned, effectively reducing both the circulating and total supplies.Bolstering the Value Add for Crucible StakersNot only do the new requirements mean that more FRMx will be burned, it also means that those staking in Crucible will benefit. As some folks opt-in to staking to receive the benefits and others opt-out due to commitment issues (for lack of a better phrase), this will do the following:<ul><li>Reduce the number of folks participating in presales resulting in larger allocations.</li><li>Increase the number of users staking in Crucible, thus increasing immediate rewards for those already staked and increasing potential future rewards for those who remain while weaker hands decide to unstake.</li><li>Reduce the circulating and total supply of FRM and FRMx</li></ul>The main motivation for this change was to reward those who actually decide to stake. While we still have many plans to increase Crucible rewards, we also realize that Crucible APRs aren’t as high as many had hoped. In order to offset the fees that folks are required to pay to stake and unstake cFRM and cFRMx, we hope that Ferrum Monthly Airdrops and the prospect of presale participation will far exceed the investment by way of fees. Its always important to bear in mind that all fees generated are either redistributed to stakers or burned, thus improving the overall token economy.<h2 id="header-2">In Conclusion</h2>This change should help reduce emissions, make FRM and FRMx more deflationary, increase the number of Crucible users, benefit current Crucible users and more. We feel that this is a proper step forward for both the Ferrum token economy and Crucible.Stay tuned!Very truly yours,The Ferrum Network TeamAbout Ferrum NetworkFerrum is ushering in the era of blockchain interoperability 2.0. Powered by a multichain messaging engine known as Quantum Portal, Ferrum Network’s mainnet will bring value, data, and functional interoperability to every chain in the industry.Utilize Ferrum Network to build and deploy solutions on one network and instantly enable multichain functionality without the burden or technical debt that comes with managing a multichain infrastructure.Ferrum Network Important Links<a href="https://ferrum.network/" rel="noopener noreferrer nofollow">Website</a> | Telegram | <a href="https://twitter.com/FerrumNetwork" rel="noopener noreferrer nofollow">Twitter</a> |<a href="https://www.youtube.com/channel/UCN658dMRTaH4C4dP32VHi6Q" rel="noopener noreferrer nofollow"> YouTube</a> | <a href="https://discord.gg/HEfKq57asd" rel="noopener noreferrer nofollow">Discord</a>

Introducing Ferrum Monthly Airdrops — Update to Presales & Monthly Holder Rewards

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