Vào 20:00 ngày 17-12-2019, IAN FRIEND từ Ferrum Network và Cộng đồng Húp Cháo Capital cùng với cộng đồng Ferrum Việt Nam đã tổ chức thành công buổi AMA hàng tháng, trong đó đã giải quyết rất nhiều thắc mắc của cộng đồng các nhà đầu tư, các thành viên của cộng đồng, những nhà phát triển quan tâm đến mạng lưới của Ferrum cũng như cập nhật những quá trình, cột mốc mà đội ngũ đã đạt được cũng như một số kế hoạch sắp tới. Thời gian dự kiến của buổi AMA là 45 phút nhưng cuối cùng đã kéo dài hơn 2 giờ 15 phút vì số lượng câu hỏi quá nhiều. Tuy nhiên, vẫn còn nhiều câu hỏi hay những vấn đề chưa được giải quyết,đội ngũ dự án sẽ đưa ra câu trả lời sớm và thông tin đến cộng đồng.
Đến với buổi AMA, những thành viên thật sự quan tâm đến dự án, có những câu hỏi mang tính ý nghĩa, đặc thù, xây dựng cao sẽ được trao tặng những phần quà hấp dẫn. Đội ngũ Ferrum sẽ liên hệ trực tiếp và phân phối giải thưởng đến những bạn may mắn.
HC Capital sẽ tóm tắt lại nội dung của buổi AMA như sau, và mong đợi đến buổi AMA tháng sau để tiếp tục giải đáp, cập nhật thông tin cho cộng đồng:
Question: HC CAPITAL
Answer: IAN FRIEND
|Q1: Please introduce about yourself and Ferrum Network||hello everyone, my name is Ian Friend, and i am the co-founder and COO of Ferrum Network. Prior to co-founding Ferrum I was an attorney working in New York City where I founded the blockchain practice team of my firm.
Ferrum Network is the marriage of two interconnected things: 1) a high speed interoperability network that can connect to any blockchain – its like the Lightening Network but works for any digital asset; 2) the advanced financial products that run on top of our tech like our fiat gateway, non-custodial wallet, cold storage app and DEX.
|Q2: As far as I know, Ferrum has the Staking program. What is the difference between Ferrum’s Staking and the others such as Harmony?||There are really two versions of Ferrum staking. The one we launched a month ago is ERC-20 staking based on a smart contract. You basically send your tokens to a staking pool, and depending on when you withdraw, you get bonus tokens as rewards. https://ferrum.network/staking/
As you can see, we hav some of hte highest rewards in the industry, and we will launch another round of staking pools soon with the help of community feedback.
The second version of staking is main net staking, where node runners will recieve a percentage of FRM based on the amount of transactions they confirm while rnning a node. This is more like traditional staking and will be announced prior to the launch of the mainnet in 2020.
|Q3: 2019 is coming to an end. Have you got any preparation for 2020? What is your plan for 2020?||Yes 2019 was a big year for us. We sold out the ICO in minutes, listed on 4 exchanges, launched our token bridge, staking, and updated our African fiat gateway to include many useful new features (https://firstkudi.com/), but 2020 will be even bigger.
In 2020 we have many things coming. In early 2020 we will release our non-custodial wallet called UniFyre Wallet. This will be like Trust Wallet but with many unique features like additional security in case you lose your phone or private keys you can still recover your crypto.
Then we will launch our main net. This will mean that FRM will be spent and burned for each transaciton on the network. https://unifyre.io/
|Q4: I think one of the problems with blockchain platforms to reach mass adoption is the number of regular users. What’s your plan to attract users for dApps on Ferrum Network?||We agree many blockchain platforms fail to attract users. I think this is the case for a few reasons – technology is difficult to use, and 2nd marketing is not being done to attract people outside of the crypto sphere. However, we are trying to change that. For instance we launched a user friendly fiat gateway wallet in Nigeria that also allows you to send money to anyone in the world instantly fo 0 fees. We have engaged in an aggressive marketing campaign involving face to face interactins that have really driven a lot of downloads and usage. We are trying to bring the gap between the world of crypto and the traditional world, which is why we build useful prodcuts that are easy to use. You can download our app today! https://play.google.com/store/apps/details?id=com.ferrum.kudi|
|Q5: What is the economic model of $Frm? What are the benefits for $frm holders and your plan to keep users for longterm ?||Ferrum is all about generating utility for the token and in doing so, reducing the supply. There are already early utiliies such as the token bridge (which requires FRM as fee), social mining (a next generation community based marketing tool that requires FRM to be held) and staking. But when the main net comes out, each transaciton on our network will require FRM be spent and burned as a network fee. Therefore, our African users alone will be spending and burning FRM daily, as will our users of UniFyre Wallet, and our other products.|
|Q6: Any project has its weaknesses, and that point will often be exploited by competitors. Does Ferrum have any weaknesses? And How will you strengthen your weaknesses and turn them into advantages?||I think our main weakness is that we did a low raise (1.12 million) so we need to find creative ways to get things done rather than just spend big money. But I actually view this as a big advantage for the project bcause the mcap is very low and the token has a lot of upside for investors. By conducting a low raise with a low valuation we were fair to our early investors and we give the current investors a lot of opportuntiy for upside.|
|Q7: How the FERRUM project planning process is ensure? The market needs constant progress of project! How to avoid the FERRUMProject idleness?||I think if you join our channels you will see we are anything but idle. Since the ICO in August we built and launched a token bridge (tokenbridge.ferrum.network), staking, social mining, and made major upgrades to our fiat gateway in Africa. We also constantly update the community with progress reports, and do at least 3 AMAs a week. In fact this week we are doing a LIVE AMA on Zoom where you can directly ask the founders questions. Not to mention we make 1-2 announcements per day. Id argue that Ferrum is one of the most active projects in terms of marketing and tech progress in the space.|
|Q8: Why focus on developing in Africa? What do you think about the Vietnamese market? What are Ferrum’s market expansion plans?||The African market was the natural place to launch our first fiat gateway because our seed investors had all teh necessary connections and skills to make it happen. They are on the ground in Nigeria now actually scaling the product. Africa is actually a huge crypto market and has a huge population open to new technology. Nigeria is #7 in the world in BTC transactions. But we are not only focused on Africa, we are looking to expand. Next we will target the Middle East and Brazil. But we would love to do something in Vietnam! The only prerequisites is finding a competant team on the ground who can run the business. We provide the technology and high level marketing support. But you need people on the ground to help get users. Maybe HC Capital would like to launch a FinTech product that allows you to buy BTC very fast and very cheap, and send real fiat money to anyone instantly for 0 fees??|
|Q9: There’s a tonne of failed projects in crypto with zombie tokens being traded. What is frm’s thoughts on this and what is your differrence ?||It seems many projects were either scams or just never had viable business models so they would inevitably fail. We saw early on that you cannot survive on your token alone – you need revenue and a proper business model. This is why we started by launching a revenue generating product rather than launching a decentralized network first. The market has completely changed. The most promising projects are the highly active projects with low mcaps and working products that generate revenue. Ferrum checks all those boxes. Its frustrating when you see dead projects with 100mil mcap while we are out here working non stop with a 1mil mcap. But its OK, we launched in a different market and are stronger because of it. We will continue to work hard and bring value and in time we will become a major project in the crypto space.|
|Q10: I have seen traction based reserve model in your website? Can you please explain about traction based reserve model.||This is our unique take on a reserve, but instead of arbitrarily releasing those tokens, they are released based on the amount of tokens we burned in the previous period. So that way it incentivizes us to hit our goals, but it also does not result in inflation because the amount of tokens released correspond to the amount of tokens burned.|
|Q11: What is the background of the Ferrum team? Do you think it is competent enough to run Ferrum for long-term?||Our background is diverse and has a depth of experience. For instanc, my co-founder is PhD in Distributed Databas Systems and worked as a senior engineer at Amazon, Microsoft and Bloomberg. He leads our dev team and is excellent at launching useful products. We built and launched our African fiat wallet on a budget of less than $100k! We have already been running Ferrum successfully for 1.5 years so I think our track record speaks for itself, having done more than most projects on a far lesser budget.|
|Q12: You will agree with me that adoption and UTILITY is very key to project survival, what’s being done to drive global adoption of #Ferrum admist crypto regulation and legislation?||Utility is absoultely key, which is why we already have useful products that people use and need the token for. Its also why we are adding FRM to our African wallet so our users can buy it directly with fiat. I actually dont view regulation and legislation as the biggest impediments to adoption (although that is certaintly the case in a few markets). The biggest impediment is that aside from global remittances, there isnt a lot of use for most cryptos. Crypto needs a better usecase, and we think emerging markets is where it makes the most sense. This is why we launched in a place where the local fiat currency is unstable. its also why we build products that anyone can use and sign up people face to face. We need to teach people about the benefits of crypto and give them tools so they can use it to solve their daily problems. Until that happens, it will just be pice speculation unfortunately.|
|Q13: Could you give me 3 key points to convince me and other angel investors invest in FERRUM in long-term?||While I cant give investment advice, I would encourage that you study our progress and approach. We are extremely active on the tech side and build products people actually use like our fiat gateway + payments app in Africa that allows you to send money to anyone in the world instantly for 0 fees. It already has thousands of users and hundreds of merchants using the product. Secondly, we are dedicated to utility and understand how to tie it ot the value of the token, which is why for each TX on the network FRM must be spent and burned. Third, we understand the market and crypt investors, we used to be investors ourselves. A project needs to be extremely active in terms of marketing and progress updates. It needs to give incentives for people to pay attention. And it needs to constantly engage the community and foster an environment of positivity and long term mind set. This is why we launched social mining (community.ferrum.network) and are constantly doing AMAs and we are always talking to our community. Ferrum will work non stop to give bring value to our investors and supporters, and we know what works.|
|Q14: How one can Setup and Run Node and What were the major requirements needed for it ?||So FRM nodes are not out yet bcause the main net has not launched. But running a node will be very easy (check out our token bridge or staking to see how we build simple to use products) and it will be rewarding. We are still working out the amount of FRM necessary to run a node, but it will be pretty high because the benefits are also high. In the meanwhile, we have ERC_20 staking where the the minimum amount to stake is low (5000 FRM) because we wanted it to be for everyone. We will be laucnhing staking 2.0 very soon and we are polling our community now so we structure it in the way that they want it.|
|Q15: How will your team ensure that FERRUM remains the top platform and keep pace ahead of your competitors, in the next 5 years and beyond?||I think it comes down to bridging the gap between traditional world and the world of crypto, and empowering people with this new techonlogy. This means building useful products that actualy solve peoples problems. It means giving them the ability to convert their crypto into fiat. It means launching those products all over the world and connecting them to a line of financial products that allow them to take back control of their money. For too long the rich and powerful have set the terms, inflated the value of their fiat money and screwed everyone else. Ferrum is dedicated to using this technology so you can take back control of your own money. In the next 5 yeasr we will launch many products and build a network that connects all of the different blockchains together, and we will evolve as the space itself evolves. But as long as we stick to our vision of empowering people with blockchain technology, we will succeed.|
|Q16: Thuận lợi và khó khăn của ONE trên con đường phát triển hiện tại ? Khó Khăn và Thuận Lợi đó là gì ?||
Khó khăn hiện tại là việc phát triển team, hiện giờ team chỉ có 1x fulltime members – và chúng tôi vẫn đang trong quá trình tuyển thêm để làm nhiều khả năng phán đoán hơn.
|Q17: What’s next for FERRUM? What does the future look like with FERRUM?||In a few days we will release the Kudi app on iOS and will add FRM and ETH to the app. This means our African users can buy FRM directly with Nigerian currency. In Q1 2020 we will release staking 2.0 with the help of the community feedback. We will also release our non-custodial wallet called UniFyre Wallet. Also in Q1 we will hopefully announce the official laucnh of our next fiat gateway, subject to what the regulators tell us. From there, we will laucnh the main net, followed by our other line of interconnected DeFi products like Sub Zero Wallet and Infinity DEX. 2020 will be a huge year for Ferrum and we will continue to work closely with communities all around the world like HC Capital, because at the end of the day crypto is all about the people involved. As long as we do right by our supporters, community, and investors, then Ferrum can achieve great things.|