Token Utility
Last updated
Ferrum Network - Whitepaper
Last updated
Each transaction on Ferrum Network will require some gas (determined per transaction) to be paid. The gas fees on Ferrum Network will be paid in FRM. Additionally, Quantum portal transactions will also be paid in FRM. These transactions will occur on every single integrated network and can occur simultaneously as transactions are executed on different network pairs. This increases the potential volume of transactions that will ultimately be paid for using FRM.
In order to run a QPM, users will need to own and stake 250,000 FRM. FRM will be disproportionately burned as rewards are generated for miners. The degree to which tokens will be burned will be significantly higher during the infancy of the network and will decrease as the network gains adoption.
In order to run a QPV, users will need to own and stake 2,500,000 FRM. FRM will be disproportionately burned as rewards are generated for validators. The degree to which tokens will be burned will be significantly higher during the infancy of the network and will decrease as the network gains adoption.
FRM will serve as the governance token for the Ferrum Network. FRM holders will have the opportunity to vote on referenda that includes anything from chain upgrades to feature requests to the distribution of treasury funds for items such as grants programs.
By staking cFRM community members can access presales to early stage projects via .
FRM is a deflationary asset whether by being used as gas on the InfinityLayer mainnet, used as a fee token via MultiSwap, or by generating transaction fees via Crucible, FRM is subject to routine burns.
Through fees generated from our white label product suite such as out Staking as a Service and/or profits from Ferrum Advisory Services, Ferrum uses a portion of our profits to buy back FRM off the market.
FRM is used as the fee token for MultiSwap. A portion of the fees that are accrued through MultiSwap are used to supplement the sustainable rewards model.
By minting and staking Crucible tokens using FRM you can gain access to sustainable rewards.