Lianyun Finance Open Course No. 61 | In the new era of encryption, how does Ferrum Network create the new concept of DeFi+NFT?

Preface: In March 2021, cryptocurrency entered a new stage of development. The price of Bitcoin successfully broke through the $60,000 mark on March 13, reaching a new high. The DeFi lock-up volume increased by 20% this month, approaching $45 billion. High-priced artworks frequently appeared in the NFT market, such as the NFT work of crypto artist Beeple, which was sold at Christie's for $69.34 million.

  In this new era of encryption, how do we grasp the development trend of DeFi and how do we understand the NFT craze? Today we invited Mothy , the head of Ferrum Network, to share the project development of FNK Machine Gun Pool to help everyone have a new understanding of the industry development.  

Today we are very honored to invite Mothy, the head of Ferrum Network, to be a guest in the Chain Cloud Live Room.

The following is the AMA transcript, with some minor deletions without changing the original meaning.

1. Let us first invite the person in charge of Ferrum Network to introduce himself.

Hello everyone, I’m Mothy, the head of FNK. Unlike many “so-called” foreign elite teams, the founding team of FNK all come from the traditional financial field in the UK. The current business manages funds of more than 2 billion US dollars and focuses on providing financial services to high-net-worth clients and family offices. With a deep financial background and rich experience in financial product development, it breaks the inherent boundaries in the new inclusive financial field of DeFi, serves a wider range of ordinary investment groups, and accepts review by professional law firms in the UK.

2. Ferrum Network has received a lot of attention in the industry recently. Could you please introduce Ferrum Network to our new friends again?

FerrumNetwork's machine gun pool is positioned as a one-stop staking financial management and mining. Its product form is mainly DeFi aggregator platform + NFT platform, and it is committed to creating a lightweight, open and free financial world. FerrumNetwork maximizes user asset returns through dynamic optimization strategies, double audits and automated reinvestment, and can provide investors with the best returns on the ETH chain with one click. At the same time, the mining incentive policy also forms a superposition of returns under the original high-yield strategy, bringing users the best return solution.

FerrumNetwork's machine gun pool will be launched at the end of March, and the machine gun pool FNK mining will be launched simultaneously, and it will be the first to support single-currency mining such as USDT ETH.

3. Ferrum Network focuses on Ethereum’s decentralized DeFi ecosystem. I would like to ask what are the considerations behind this?

I believe that most DeFi projects choose Ethereum as their first choice when deploying. There are several main reasons:

As the first public chain, Ethereum has a leading advantage in asset types and total assets;

l Ethereum has an obvious first-mover advantage, while other public chains did not pay enough attention to DeFi in the early stage and lost the opportunity;

After DeFi scales up, decentralized governance and the cost of migrating from Ethereum to other public chains are difficult to estimate;

Compared with other public chains, Ethereum has better security maintenance. Other public chains do not screen projects adequately and are more risky.

  4. What are the highlights and advantages of FerrumNetwork?

l Low investment threshold: only 100USDT or 0.05 ETH is required to participate in staking, staking ratio: 1USDT=0.1FNK, 1ETH=200FNK

l Convenient and fast: The operation is simple. Just click on the investment button to enjoy the benefits, eliminating the tedious steps of on-chain transfer, mining learning, etc.

lUltra -short-term: 7/14/28-day short-term investment, funds can be used as you wish, and interest is paid daily;

l Principal and interest protection: All liquidity pool products promise principal protection and interest income protection. If there is a loss of mining principal, all will be covered;

lTeam professionalism: 5 years of experience in the national team, forming a professional mining research team to study currency contracts, platform security, etc. to avoid capital losses;

l Additional benefits: Participate in the USDT ETH 28-day liquidity mining pool to earn income and collect additional FNT eco-coins.

5. You just mentioned FNK, which is our platform token. Can you give us a detailed introduction?

As we mentioned earlier, the product form of FerrumNetwork Machine Gun Pool is mainly DeFi aggregator platform + NFT platform, and our FNK is our economic token, which links various platforms and entities and enables the circulation of digital assets; at the same time, users holding FNK are equivalent to platform shareholders, thus promoting the platform to achieve centralized community governance.

FNK has a circulation of 21 million pieces and will never be issued again. FNK is used to mark the value and measure the contribution in the Ferrum network system. It serves as a user incentive and a proof of rights for user community voting rights. FNK has multiple functions, including fee payment, platform governance, risk management, market incentives, etc.

FNK has no private placement, no pre-mining, and all is produced by the 28-day pledge pool. The distribution ratio is 1USDT=0.1FNK, 1ETH=200FNK. The official will take out 1 million FNK for airdrop. When the team has more than 100 effective members, 10,000 will be issued; when the team has 200 people, 20,000 will be issued, and so on.

6. Let’s talk about a topic that friends here are most concerned about: what is the profit of the FNK machine gun pool?

Ferrum Network (machine gun pool) is a DeFi project that targets different currencies with the same algorithm (such as CRV, YFV,

SUSHI, etc.), through intelligent scheduling to the best-yielding currency for liquidity mining, and participating in potential first mines,

Strategies to increase mining revenue.

First, users only need 100USDT or 0.05 ETH to participate in staking;

Secondly, with short-term investments of 7/14/28 days, funds are more flexible and interest is paid daily; participating in the USDT ETH 28-day liquidity pool can earn you extra FN K   Ecological currency.

Finally, users also enjoy sharing of profits: 50% of the profits of the first generation, 30% of the profits of the second generation, 20% of the profits of the third generation, 10% of the profits of the fourth generation, and 5% of the profits of the fifth to tenth generations. Staking UDST can get USDT, ETH can get ETH, and FNK is not obtained through sharing of profits.

7. We all know that decentralized governance is the current trend. How does Ferrum Network do in this regard?

The Ferrum network team is composed of an excellent DAO organization free team, including many early players in the Bitcoin community, Bitcoin evangelists, practitioners in the traditional financial industry, and technicians with many years of experience in the IT industry. Technical experts come from top companies in the world. The management team is full of talents and has deep experience in blockchain technology development, market value management, and team operations. The advisory team comes from top people and venture capital institutions in the global blockchain alliance.

8. Next, let’s talk about the overall industry environment. What do you think about the two hot topics of DeFi and NFT?

In fact, at present, although these two sectors are developing rapidly, there is still a lot of room for development or problems that need to be solved. In terms of DeFi, the actual number of participants is still very small compared to the number of people holding cryptocurrencies. Among the problems, DeFi is less well-known to the public, the operation is more complicated, the user experience is poor, the gas fee is high, the code audit problem, etc. NFT faces problems such as infringement, the uniqueness of tokens, and decentralized governance.

However, we must realize that there are more opportunities only when there are problems in an industry; when everything is perfect, the opportunities are small, such as various Internet applications. Only by solving problems and creating value can we enjoy more benefits. Ferrum network is working hard to meet new opportunities, meet new needs, and realize the interconnection of various DeFi sectors. Bring users a wider range of global financial services and barrier-free cross-border capital circulation, creating more value for users.

9. Finally, please summarize and look forward to the future development of Ferrum Network!

Machine gun pools and staking lossless mining are the future industry trends. The scheduling of FNK machine gun pools is more intelligent, and the strategy is further improved. At the same time, it can also help users participate in the first mine with huge potential.

Regarding the future development of Ferrum Network, we plan as follows:

In the first quarter of this year, the development of the machine gun pool v1.0 was completed

In the second quarter, the number of users is expected to exceed 500,000. Our intelligent multi-chain machine gun pool can help users obtain optimal returns, and currency algorithm products will be launched one after another ;

In the third quarter, crypto loans and FNK were fully opened; NFT+DeFi application research and practice were launched

lIn the fourth quarter, the index futures contract trading of global value currencies will be launched; enrich the application scenarios of FNK

Next year, the “global decentralized NFT collection” will be initially established

The above is the text compiled by Lianyun Finance based on the content of the live broadcast room. For more information, please pay attention to Lianyun live broadcast information.

This event is hosted by Lianyun Finance, Ferrum Network   Co-organized and supported by multiple media ! Thanks to the following media, and we look forward to more exciting events in the next issue!