Token Categories
Last updated
Last updated
The Treasury is where all network-related items and expenses will be sourced from. This includes but is not limited to areas such as exchange liquidity & market making, bridge liquidity, ecosystem incentives, and mainnet and parachain funding. Treasury tokens will remain in multi-sig safes and will be released via governance mechanisms as we continue to iron out a state of the art approach towards governance.
The Treasury will contain 7% of the Max Supply from the onset. However, more on how the Treasury will be funded by network activity was discussed in the section surrounding Ferrum’s Monetary Policy earlier in the whitepaper.
Ecosystem This is a big one! To ensure that projects and developers looking to build on Ferrum Network will be incentivized to do so in the coming years, there will need to be tokens allocated from the Treasury to said projects. These tokens will be used for major future grant programs, hackathons, bug bounties, incentivized testnets, and other Ferrum-ecosystem growth-oriented initiatives.
A percentage of the Treasury will be dedicated to these initiatives.
Mainnet and Parachain Fund To ensure the successful launch and evolution of the Ferrum Network, we want to remain open to secondary mainnet or node raises and/or parachain crowdloans.
A percentage of the Treasury will be allocated for this purpose.
Exchange Liquidity & Market Making Ferrum has done a great job of reaching different types of holders across multiple centralized and decentralized exchanges alike. While Ferrum’s main utilities have been limited to BSC and Arbitrum thus far, Ferrum plans to take its products multichain and create a multichain token standard via the Ferrum mainnet. Therefore, you can expect to see utility across multiple networks as well as FRM listed on other DEXs in the future.
In terms of CEXs, we’re happy with being listed on Kucoin, Gate.io, and Ascendex. However, we’re hoping for other major tier-1 exchange listings in the not so distant future! Treasury tokens can be used to support both CEX and DEX liquidity.
Bridge Liquidity There is a chance that some Treasury tokens will go to support bridge liquidity. Perhaps FRM will serve as a sort of routing token for MultiSwap in the future. Bridge pools would need to exist on networks that MultiSwap is integrated with.
Note: Most Web3 teams have between 6 and 12-month cliffs and release schedules lasting from 12 to 36 months. Ferrum now has a 48-month cliff followed by a linear release schedule lasting 48 months for a whopping total of 96 months of vesting!
Since Ferrum’s inception, the team has DOUBLED the amount of time they’re waiting to tap into their allocation of $FRM. That’s dedication and clear proof that there is much more to come from Ferrum…!
As Web3 continues the brain drain from Web2 and other traditional sectors, organizational benefits for new employees are becoming more common. ECOP stands for “Employee Crypto Ownership Plan’’ and is structured very similarly to ESOP (employee stock ownership plan). We believe that a team whose goals are in line with the company makes for the most motivated and productive organization.
“The ability to enjoy rewards from the success of the company is a significant motivator candidate. ECOPs are quickly becoming one of the strongest elements in the recruitment toolkit to attract top-tier talent.” — Taha Abbasi, CSO at Ferrum Network
To understand how the Reserves will function, please refer to the Monetary Policy in the previous section.
