Posted 2 months ago | by @devadmin

Dear Ferrum Community,

We are proud to announce that Project Inverse has chosen to use Ferrum Network staking technology to conduct its Initial DEX Offering (IDO)!

In true Ferrum fashion, it will NOT be first come first serve. Rather, we will conduct an FRM staking round followed by a lottery. Participants will stake a small amount of FRM, and among all of those who stake in the Inverse Lottery Pool, 300 winners will be chosen. Those winners be able to contribute $200 USDT/USDC of XIV tokens (approximately 2666 tokens each) into the public sale round of the Project Inverse raise.

In addition, Project Inverse will be conducting a small NFT sale with their incredible new NFT — Vault Ship One (to be revealed soon)!

We are thrilled that Project Inverse has chosen to use Ferrum Network staking technology to conduct a lottery based IDO. In this article, we describe how to prepare for and participate in the Project Inverse Staking Lottery.

How to Participate:

Here are the steps on how to participate and have a chance to win a spot in the Project Inverse IDO.

  • Follow Project Inverse on Twitter, tag 2 friends, and retweet the following pinned tweet using $XIV $FRM cashtags: https://twitter.com/InverseProject/status/1363869043946639368?s=20
  • Fill out required sections of the form below correctly. This is very important. Provide link to your tweet in this form. https://forms.gle/XxQWx5JPFDS3a4Zc6
  • Buy or possess 500 Ferrum (FRM) Tokens in your Metamask
  • The staking pool to qualify for the lottery will open on Tuesday February 23, 2021 at 4pm UTC.
  • Follow the prompts and stake minimum 500 FRM in the INVERSE Lottery Staking Pool. Click the link below to access the FRM staking portal: https://ferrum.network/staking-inverse/
  • The staking contribution period will be open for 24 hours. The total amount of time staked will be 7 days and all stakers will be given a 5% APY paid in FRMx.
  • We will randomly choose 300 addresses/winners who will then have the right to contribute $200 into the Project Inverse public sale round, purchasing approximately approximately 2666 $XIV each.
  • On Thursday, February 25th at 5pm UTC, the winners will actually contribute $200 to a contribution address specified by the Inverse team.
  • Public sale participates will receive their $XIV tokens around the time of the $XIV Uniswap launch (date/time of Uniswap launch to be announced soon).

In other words, to qualify to participate in the Inverse IDO, users will stake 500 FRM in the Inverse Lottery Pool, and we will randomly select 300 winners. Those winners will be able to contribute $200 to the Inverse public sale in accordance with the steps above.

Whats Next

On Tuesday February 23, 2021, the Inverse Lottery Staking Pool will open for a 24 hour contribution period. Please prepare yourself and make sure you have at least 500 FRM in your Metamask!

Project Inverse will also conduct an innovative NFT sale, which you can learn more about here.

Thank You

We want to give a huge thank you to the Project Inverse team for choosing Ferrum Network as their IDO provider! Great luck and happy lottery staking!

Very truly yours,

Very truly yours,

-The Ferrum Network Team

About Ferrum Network

Ferrum Network is building a DeFi ecosystem that interoperates across chains and removes barriers to mass adoption. Founded in the 2018 bear market, it has grown into a DeFi powerhouse with four working products, over 20,000 active users, 50+ clients using its staking technology, 20+ million TVL on its staking protocol, a successful incubator/advisory arm, 8 FRM utilities, and much more. Ferrum’s forthcoming cross-chain DAG will enable the transfer of any digital asset in milliseconds for near-zero network fees. Its non-custodial UniFyre Wallet has revolutionized the way people send crypto with its “Link Drop” technology. Ferrum’s Staking-as-a-Service is used by over 50 projects and their Token Bridge is the fastest, and most secure means of moving assets between Ethereum and Binance Chain. Look for Ferrum to launch more transformative DeFi technology throughout 2021 and beyond.

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Original article published on Ferrum Network’s Medium.