Ferrum Network Announcements

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📣 Progress on Implementing FRC-5 🔥

🚀 We're excited to give you an update on the progress we've made in implementing the changes as per the FRC-5 passed proposal. Your votes and inputs are vital to us, and we are pleased to announce the following milestones we've achieved:

Completed Tasks:
✅ We have successfully removed the BSC cFRM/FRM liquidity pair.
✅ To discourage unwrapping on BSC, the unwrap fee has been increased to over 10%.
✅ We've set the unstaking fee to 0% on the Binance Smart Chain.
✅ The following changes have been made to Crucible fees:
Transfers and Swaps: 0.3%
Mint and Stake: 0%
Unstake: 2%
Unwrap: 4%
✅ Approximately 13 million tokens have been released for adding liquidity.
✅ Added liquidity to the FRM/cFRM pair on Sushiswap (Arbitrum).

📋 Pending Tasks:
⏳ We are in the process of enabling bridging of cFRM from BSC to cFRM on Arbitrum for 0 fees.
⏳ A separate announcement will be released instructing you to move your tokens from BSC to Arbitrum within a 30-day window.
⏳ We will publish an article to explain the reason behind these changes and what they mean for the community.

🎉 The changes we've implemented aim to streamline the trading experience and reduce both slippage and Crucible costs. Increasing the unwrap fee helps to maintain FRM TVL. On the other hand, reducing the trading fee to 0.3% encourages more Crucible activity.

🤝 Stay tuned for more info on the completion of the FRC-5 update.

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www.tgoop.com/ferrum_network_announcements/2287

935 viewsAug 28, 2023 at 18:41

📣 Progress on Implementing FRC-5 🔥

🚀 We're excited to give you an update on the progress we've made in implementing the changes as per the FRC-5 passed proposal. Your votes and inputs are vital to us, and we are pleased to announce the following milestones we've achieved:

Completed Tasks:
✅ We have successfully removed the BSC cFRM/FRM liquidity pair.
✅ To discourage unwrapping on BSC, the unwrap fee has been increased to over 10%.
✅ We've set the unstaking fee to 0% on the Binance Smart Chain.
✅ The following changes have been made to Crucible fees:
Transfers and Swaps: 0.3%
Mint and Stake: 0%
Unstake: 2%
Unwrap: 4%
✅ Approximately 13 million tokens have been released for adding liquidity.
✅ Added liquidity to the FRM/cFRM pair on Sushiswap (Arbitrum).

📋 Pending Tasks:
⏳ We are in the process of enabling bridging of cFRM from BSC to cFRM on Arbitrum for 0 fees.
⏳ A separate announcement will be released instructing you to move your tokens from BSC to Arbitrum within a 30-day window.
⏳ We will publish an article to explain the reason behind these changes and what they mean for the community.

🎉 The changes we've implemented aim to streamline the trading experience and reduce both slippage and Crucible costs. Increasing the unwrap fee helps to maintain FRM TVL. On the other hand, reducing the trading fee to 0.3% encourages more Crucible activity.

🤝 Stay tuned for more info on the completion of the FRC-5 update.

Like & Share