FLYER'S NOTE: FERRUM NETWORK

We live in a multi-token world, with thousands of digital assets residing across hundreds of separate blockchains. Bitcoin, Ethereum,Ripple, IOTA and BNB are all examples of major digital currencies with
their own unique use cases. The ecosystem benefits from a wide variety of networks, tokens, and projects, all aiming to build a fairer, more inclusive world.

At the same time, many existing offerings of decentralized exchanges are not satisfactory due to a combination of limited token offerings, poor user experience, and slow transaction times.

The next product in our line of financial application that runs on the network will be the UniFyre Wallet, which will have unique features for sending and receiving transactions that allow users to engage in risk-free and near-instant peer-to-peer exchanges of the following digital assets, with many more being integrated: Bitcoin, Ethereum, Ripple, True USD, Gemini Dollar, and the FERRUM Token, FRM. As of this writing, BNB, EOS, NEO and other major assets are being integrated into the FERRUM Network. Because both parties must authorize a transaction before it is executed, the UniFyre Wallet also enables risk-free, near instant over-the counter (OTC) trading at a fraction of the usual cost.

The Problems with Centralized Exchanges

Blockchain and cryptocurrencies were supposed to provide a trustless decentralized means for peer-to peer transactions. However, in reality, a vast majority of cryptocurrencies are held and transacted through a few large institutions and centralized exchanges. The current situation is far from the promised world of decentralized transactions and community owned currencies, and is more akin to the traditional, but less effective banking system, with accompanying scalability issues and expensive transaction fees. In our view, this is one of the biggest failures of cryptocurrencies, and the need to address this problem is keenly felt by the community.

Currently, there is a lack of organic solutions for communities to utilize decentralized technologies. Instead, they need to rely on centralized exchanges, or look to a decentralized alternative, all of which have significant shortcomings.

The Problems with Many Existing Decentralized Exchanges

The current DEX offerings also suffer from a lack of functionalityand difficulty of use. It is impossible for ERC-20 DEXs to offer highfrequency trading because the transaction times are limited by the speed of the Ethereum networkxiv. The ideal DEX should offer market and limit orders, provide users with a simple and easy to use interface,and offer advanced features that satisfy the needs of professional traders. The Infinity DEX caters to both the novice and professional with a simple intuitive interface and will offer advanced features such as high-frequency trading, short selling, and AI driven trading assistance.

The Problems with Over-The-Counter Trading

Now, OTC traders can use their Fe Wallet for their OTC trades.Two users can agree on a price and execute a private trade without being concerned that the counterparty will not complete their end of the transaction. This is because FERRUM has a built-in feature that requires parties to accept transactions before they are executed. If both parties do not accept the transaction, it can be rolled back. In the normal OTC context, if Whale A wishes to sell 10,000 BTC to Whale B in exchange for 300,000 ETH, he cannot know whether Whale B will actually send him the ETH following the trade, and blockchains do not permit the “roll back” of transactions. However, using the Fe Wallet, Whale A can send the BTC, with the condition that Whale B send the ETH, and the transaction will not be executed until both parties accept the transaction. In the future, FERRUM will enable the exchange of digital fiat currencies, thereby offering OTC traders a forum to conduct private, trustless trades using both crypto and fiat without reliance on costly and inefficient middlemen.

We believe that another method of implementing decentralized ledgers by decentralized network, known as a DAG based network, is a more effective solution. DAG is short for Directed Acyclic Graph, which describes the data structure that represents transactions in these networks.

FERRUM can also represent proxy tokens other than Fe(BTC). The technology that provides security guarantees for importing value is critical. We have developed several techniques that provide various types of guarantees, which are suitable for external networks with different characteristics. These techniques are discussed in more detail in section 3 of this paper, and in FERRUM Network’s Technical Paper.

The following procedure is the general algorithm for transferring value (v) from network X, to FERRUM:
1. Lock or destroy v in the external network X
2. Present the proof from 1 to the FERRUM Network. This allows you to create v of Fe(X)

Token Platform
Currently the Ethereum network is used for issuing ERC-20 tokens. ERC-20 Tokens are not first-class citizens of the Ethereum network. Instead, they are generated using a specific type of smart contract that manages gigantic hash-maps. This is one of the primary reasons that transactions with ERC-20 tokens are not scalable. FERRUM is designed to allow developers to create new tokens that can be transacted and exchanged in a scalable manner. As explained below, Fe(BTC) or Fe(ETH) are tokens that are backed by external value. In FERRUM, we introduce a new type of transaction, which we call the Genesis Transaction. The Genesis Transaction issues a new set of tokens that are not backed by anything. A Genesis Transaction has the following extra fields: Number of tokens and Is Open Ended.

The Genesis Transaction can be created by a smart contract or a normal account. The creator of an open-ended Genesis Transaction can create more Genesis Transactions. The only account able to spend from the Genesis Transaction is the originator, being a normal account or a smart contract. As FERRUM Network continues to develop, it will be built to allow developers to issue their own native tokens, which can be recognized and transacted similarly to other native or imported tokens in the FERRUM network.

Tokens and Proxies in the Ferrum Network
To help solve the issues with scalability and interoperability,users can transfer any digital asset to the FERRUM Network, where a proxy of that token is generated. The proxy token can then be transacted and exchanged over the FERRUM Network in a cost-effective and scalable manner. However, users can rest assured that the proxy represents and is backed by external value.

General Information
Token Name and Ticker: Ferrum Network Token; FRM
Token Type: ERC-20 with partial BEP-2, then migrating to native with mainnet launch
Initial Price Per FRM: $0.016
Hard Cap: $1,120,000 (23% of total tokens)
Total Supply: 331,718,750 FRM

Allocation of Project Tokens:
The project tokens are allocated as per the below.