Why FRM Staking 2.0 will be awesome 🙌
Hi Steemians,
Today I want to talk about staking FRM (the token of Ferrum Network) and why I think this is a great way to get returns on your asset.
What is Ferrum Network & FRM?
Ferrum Network offers blockchain solutions for problems like financial system restrictions. Many services are not available for several people in the world and those are thereby disadvantaged. We live in a globalized world where everyone should have the same opportunities and Ferrum Network tries to reach that goal by offering several projects, like Kudi Exchange - a safe and secure app to trade with cryptocurrencies.
Source
And what are FRM tokens? They are Ferrum Network's own currency, which are used to pay transaction costs, decrease Fe DEX fees and execute other important operations. The great thing is that used FRM will be burned because there are no miners (who would get a part of the FRM). By that the supply will decrease and the value of the token is strengthened.
Why should you stake FRM?
Once you own FRM tokens, it is wise to #StakeYourFerrum.
Why? Because it allows you to increase your "investment", the longer you stake the more you'll get. Once you staked the FRM tokens are inaccessible for a certain time, although earlier withdrawing with lower yields is possible. The big advantage of staking (besides getting rewarded) is that the liquid amount of tokens is going down and this enables the currency to stabilize.
Ferrum Network recently announced Staking 2.0 which will have several additional advantages:
- dApp wallets: Now you can use dApp wallets to stake your FRM
- Lower Minimum: Staking is possible from 2,500 tokens, the minimum amount has decreased by 50% and more people can stake now
- No gas issues: The problems that caused high transaction costs for some people during Staking 1.0 have been eliminated
There are various staking plans with different terms, capacities and yields. Those with a longer staking period have higher rewards, so staking is very profitable for long term holders.
I think this is an awesome oppurtunity for everyone, so you should absolutely check it out. More information about Staking and Ferrum Network itself can be found on their site: ferrum.network
Disclaimer: This is not a financial advice. Be aware that there is always a risk when it comes to investing and you could lose your assets. Act responsibly.
PS: I am on Twitter now. If you want you check out my profile, it would mean a lot to me 😊
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I will check it out, thanx for the tip. It might be a good project then.
Interesting read @btcsam. I've never heard about ferrum network. Thx for sharing.
I'm not on twitter so I can't follow you. However I figured that I may try to DM you via discord or telegram. Do you have use of those 2? :)
Cheers
Piotr
it was me. @crypto.piotr
I haven't received a DM on Discord, you may try again (username is btcsam as well).
@btcsam, In my opinion now Blockchain Technology is Transforming very empowering way, while it's Transforming this space is becoming more Rewarding. Stay blessed.
Ferro Network is a successful project. I am a follower of this project now. I am considering making a substantial investment in this. Because garbage airdrops have increased. Our main goal is to find a system that makes progress.