Here is a list of frequently asked questions from the community. If you do not find what you are looking for, send us your question HERE.
Frequently asked questions
Ferrum 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.
MultiSwap allows users to securely bridge any asset on network 1 for any asset on network 2 at transaction speed. MultiChain Liquidity Pool Bridge enables users to swap any asset on network 1 for the same native token on network 2.
Quantum Portal is part of the Ferrum Runtime Node. When you deploy the Ferrum Network node you can configure it to mine or validate Quantum Portal transactions of Ferrum Network transactions as a validator on the network.
Quantum Portal includes the following core components:
- Quantum Portal Node
- Quantum Portal Smart Contracts
- Quantum Portal MultiChain Explorer
In the world of cryptocurrency and blockchain, MultiChain and CrossChain refer to two different approaches to interoperability, or the ability of different blockchain networks to communicate with each other.
MultiChain is a platform that allows users to create and manage their own private blockchain networks, which can then be connected to other MultiChain networks to form a larger, interconnected system. This approach allows users to maintain control over their own networks while still benefiting from the advantages of interoperability.
CrossChain, on the other hand, refers to the ability of different blockchain networks to directly communicate and transact with each other without the need for a centralized intermediary. This approach allows for greater decentralization and autonomy, but it also comes with certain challenges, such as the need for technical coordination and agreement among different network stakeholders.
Overall, both MultiChain and CrossChain approaches have their own strengths and limitations, and the appropriate approach to interoperability will depend on the specific needs and goals of a given project or application.
Ferrum Network’s Crucible brings DeFi 2.0 to the masses with sustainable rewards powered by natural market fluctuations, trading volume, and arbitrage opportunities.
With an intuitive, user-friendly UI, Crucible is even more impressive under the hood, combining elements of reflection token and liquid staking technologies to create a sustainable and deflationary rewards economy driven by transaction volume.
Whether you’re a DeFi pro or new to the space, join the DeFi 2.0 revolution and join Crucible today!
To gain access to Ferrum Network Presales, you need to hold the necessary amount of cFRM and cFRMx in your MetaMask Wallet on the BSC Network or have your cFRM and cFRMx staked in Crucible to qualify for either the Ferrum Lottery tier or a guaranteed allocation to the early rounds of top early-stage projects that have joined the Ferrum Network Ecosystem.
Value-Constrained PoS Rollups are invented by Naiem Yeganeh, the founder of Ferrum Network. Much like Optimistic and ZK Rollups, value-constrained PoS Rollups use the security of the underlying chains. The value constraints are enforced by the L1 chain. (e.g. Ethereum)
FRM is the native cryptocurrency of the Ferrum Network and is required for users to interact with the network.
It is also used as the fee token for MultiSwap and is deflationary in nature by way of Crucible.
Note: By holding both FRM and FRMx, community members can gain access to presales through Ferrum Advisory Services.
FRMx is the native cryptocurrency of the FerrumX Network and is the necessary gas token for users to interact with the network.
FRMx is also deflationary in nature by way of Crucible and is also a Governance Token. It is required in order to be a part of our Governance Committee.
The Governance Committee plays an integral role in the direction of Ferrum.
FRM/FRMx Token Utility:
FRM is used as the routing token for MultiSwap. The fees that are accrued through MultiSwap are either burned or used to supplement the sustainable rewards model.
By minting and staking Crucible tokens with your FRM and FRMx you can gain access to sustainable rewards.
FRMx is the Governance Token for the Ferrum ecosystem. FRMx can be used as a means of voting. Holding 20 FRMx/250,000 FRM provides access to our esteemed Governance Committee.
Access to Presales
By holding cFRM and cFRMx, community members can access the presales of early-stage projects. These projects are either incubated through Ferrum Advisory Services or invested in through Ferrum Ventures.
FRM and FRMx are deflationary assets. Whether by being used as gas on their respective Infinity Layer Mainnets, used as a routing token via MultiSwap, or by generating transaction fees via Crucible, both FRM & FRMx are subject to routine burns.
Through fees generated from our white label product suite such as our Staking-as-a-Service solutions and/or profits from Ferrum Advisory Services, Ferrum uses 10% of its profits to buy back FRM/FRMx off the market.