New York, NY/Jakarta, Indonesia , January 28, 2019 — Honest Mining — Everyone’s Crypto Mining Partner, and Ferrum Network — a high-speed interoperability network for real-world financial applications — have announced partnership to support FRM staking through the Honest Mining staking platform.
What is Honest Mining
Honest Mining is a Staking-as-a-Service provider, meaning they stake tokens/coins on behalf of end users to remove the technical complexities from the staking process, and therefore offer staking to a wider audience. Presently, Honest Mining has approximately 14,200 uses and runs over 100 nodes.
FRM Staking through Honest Mining
Through this partnership, Honest Mining will support FRM Staking in the FRM Stake and Earn program, and in all subsequent staking mechanisms.
There will be a dedicated Honest Mining pool within FRM Stake and Earn program with the following terms:
o Honest Mining Pool:
- Rewards: 35%
- Full Maturity: 12 Months (365 days)
- Size: 2.5 million FRM
- Early withdrawal: 180 days. 10% rewards
- Minimum contribution: 2500 FRM
Basic Overview of FRM Staking for Honest Mining
It is pool based: FRM Staking pools are like a pie with a duration of 365 days. However, the user will have an option to exit in 180 days with an early withdrawal rate of 10% or choose to reap a 35% maximum reward if they choose to join and stay for 365 days.
It rewards long-term stakers: Although there is an early withdrawal option, staking until full maturity offers participants the maximum reward. In addition, rewards increase daily starting from the early-withdrawal date — so the longer you stake the more you earn.
It is inclusive: Our staking has a low minimum amount — 2,500 FRM/seat, to ensure that everyone can participate. There is also no additional fee for joining or exiting the pool.
It is limited in time: Pools will be open for seven (7) days only or if the pool fulfilled. There will be enough time in advance for participants to plan and prepare. In addition, a countdown timer will be presented.
Service fee: Please also note that there is a 10% service fee that will be deducted from the total reward obtained. Enjoy up to 40% discount by using HNST for paying fee for the 1st year of join staking in Honest Mining. By joining this pool you agree to our Terms of Service.
For more information, head to the Honest Mining blog post.
Ferrum Network and Honest Mining Co-Marketing Campaign
In addition to offering FRM staking, the projects will promote themselves through a series of AMAs in the Ferrum Network and Honest Mining communities on February 5th. More information on participants, times and rewards can be found here.
Future Collaborations Between Ferrum Network and Honest Mining
Honest Mining and Ferrum Network will continue to work together in all future iterations of FRM Staking, including staking for a FRM node. More detailed information on future FRM and Honest Mining staking collaborations will follow.
Are You Ready to Stake Your Ferrum with Honest Mining?
For anyone less than comfortable with staking by themselves, head here to learn how you can earn FRM rewards using Honest Mining’s simple staking platform….happy staking everyone!
About Ferrum Network
Ferrum Network is a blockchain-based FinTech company bringing world-class financial products to emerging markets. Ferrum’s high-speed interoperability network supports financial applications such as fiat gateways, non-custodial wallet, and cold-storage application designed to empower millions of people around the world by giving them control of their financial lives. For more information, visit https://ferrum.network.
Ferrum Network Links:
Bitcoin Talk: http://bitcointalk.ferrum.network
About Honest Mining — Everyone’s Crypto Mining Partner: Honest Mining serves as Staking-as-a-Service (SaaS) platform that makes staking in Proof-of-Stake protocols easy and accessible for everybody. Carrying the name that reflects virtuous morality, we commit to provide full transparency and security to our users. We enable people to grow their crypto-asset over time by distributing staking yield starting 7% up to 80% annually. Come and join Honest Mining to start staking and get great rewards with a minimum investment. Register yourself now.
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Ferrum Network Partners with Staking-as-a-Service Platform Honest Mining to Reach Thousands of New… was originally published in FerrumNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.