Get the FRM Token and Safely Secure it on Numio

Ferrum Network is a protocol that leverages DAG technology to provide a decentralised network where multi-chain crypto assets can be exchanged at lightning-fast speeds.

Ferrum Network does this through its ‘reflection tokens’. These tokens are synthetic representations of assets deposited in the multi-chain network. They are cast-iron guarantees of the asset in question that can be swiftly swapped for other reflection tokens in the ecosystem or withdrawn when a user desires.

Multi-Chain Smart Contracts

Ferreum is more than just token exchange though, the network allows protocols built on one network to activate multi-chain functionality through its Quantum Portal. The Quantum Portal is a set of smart contracts that allows you to cross-deploy smart contract functionality by maintaining the state of data-value transactions across multiple chains.

Whereas otherwise the technical debt and management of multi-chain functionality would be overbearing for new protocols, Ferrum Network allows them to instantly plug into the wider blockchain ecosystem by taking advantage of the network’s interoperability. You can write a smart contract on one blockchain, then use the Ferrum Network’s Infinity Layer to deploy that contract on other blockchains in its network. So far, Ferrum Network has functionality to interact with Ethereum, Avalanche, Polygon, Binance Smart Chain and Algorand.

This functionality is made possible through a combination of its Value Constrained Proof of Stake (PoS) Rollup. This allows Ferrum Network to act like a layer 2 protocol for multiple layer 1 blockchains, not just Ethereum. Furthermore, its Multi-chain Validator Staking means those staking FRM can accrue reward from multiple networks by tapping into their rewards structures.

The FRM and FRMx Token

FRM and FRMx are the native tokens of the Ferrum Network. When using the Quantum Portal’s multi-chain transaction bridge, FRM is used to pay a small fee. FRMx is the staking and governance token that accrues rewards earned from these transaction fees. With all the protocols joining the network tapping into its interoperability, staking FRM allows users to glean rewards from the Ferrum Network’s growth.

Ferrum Network also offers Blockchain-as-a-Service functions for these new protocols looking to get themselves on the crypto map. It helps new protocols implement deflationary token models and develop their token utility. Ferrum Network began life as an incubator for new crypto projects to be able to quickly integrate with established blockchains and create interoperability that helps them aggregate the liquidity they need.

Crucible – DeFi 2.0 for the Masses

Ferrum Network’s latest product launch is Crucible – now in beta – Ferrum’s foray into DeFi 2.0. One of the major issues afflicting the crypto space is unsustainable staking rewards, where protocols shackle themselves to funding rewards out of their token pool in order to acquire liquidity. These rewards can have a self-defeating effect on the token price, with their own capital pools stifling their ability to innovate and grow.

Crucible combines reflection tokens and arbitrage trading to provide sustainable rewards to users staking on their network. This is done via plasma staking – a set of smart contracts that create rewards based on transaction volume on the network. Users can stake FRM and FRMx to receive cFRM and cFRMx, a more valuable token that receives a portion of the transaction fees on the network. This is however taken out of the circulating supply, rather than from token emissions, thereby reducing negative impacts on the token price.

There is however a tax when trading with this token, but that tax is distributed to all current stakers of cFRM and cFRMx and a portion of the fees are burned each time. By working in this manner, Ferrum Network creates a deflationary pressure on the token and incentivises trading volume on the network.

Ironing Out DeFi Deficiencies

Ferrum Network is a highly ambitious protocol using the latest blockchain technology to build an interoperable environment allowing new crypto projects to plug in to already established liquidity and quickly deploy their smart contracts multi-chain. Those boosting the network’s liquidity and functionality are rewarded through staking models that, especially through Crucible, are sustainable and self-perpetuating.

DeFi 2.0 has only just begun, but Ferrum Network might be the iron foundation upon which it is built.

How can I get FRM?

Getting FRM is easy on Numio. You can use your credit or debit card to purchase ETH or USDC, which can then be exchanged for FRM*, you can swap or trade it for other ERC-20 tokens (up to 100x cheaper than other wallets), and you can send or receive it as a payment. Whatever way you choose you can be sure that you are always in full control of your FRM.

*L2 trades for other tokens coming soon