UTILITIES - Ferrum Network

Token Utilities

FRM will be used as the gas of the network. Every time a FRM is spent as gas, a small amount is burned. So the system is deflationary.

Token Bridge
FRM is used as gas fees for token bridge swaps between Ethereum and Binance Chain

DeFi Staking

FRM is stakeable through our web-based staking platform and UniFyre Wallet

First Kudi
FRM is the primary utility token in the First Kudi app. Users can buy FRM directly with Nigerian currency and earn FRM rewards for using the app

UniFyre Wallet

Holding at least 50,000 FRM and 1 FRMx in UniFyre Wallet provides holders monthly FRMx rewards based on their holdings and the price of FRM

Foundry Incubator
Holding at least 50,000 FRM in UniFyre Wallet provides qualifying participants the ability to participate in the pre-sale rounds of incubated projects

FRM Buybacks from Staking-as-a-Service Fees
Fees that projects pay for staking go toward FRM buybacks. To date, 1,500,000 FRM has been bought back from secondary market

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