Ferrum Network, a blockchain-based FinTech company that brings financial products to emerging markets has announced a collaboration with Uptrennd.
Uptrennd will be the latest addition to Ferrum Network’s UniFyre Wallet listing and staking partnerships.
We’re proud to announce @Uptrennd as the upcoming staking & listing partnership
Learn more about the releases in the article below ↓https://t.co/Hg4h2w2qhR
— Ferrum Network (@FerrumNetwork) August 14, 2020
Uptrennd token, 1UP is an ERC-20 token that leverages the core upvoting system and serves as Uptrennd’s digital currency. Besides, the Uptrennd social media platform is known for its incentive structures that reward both content creators and users of the content.
Due to the nature of both projects, this staking and listing partnership is one to keep an eye on.
What can I expect?
Firstly, users now get the opportunity to start staking Uptrennd through Ferrum’s DeFi staking platform.
The relevance of staking has increased in recent times, but it has been reserved for big-cap projects with mainnet, leaving new projects like Uptrennd with no reasonable option to offer staking for their own token. Ferrum Network aims to bridge this gap with its flexible DeFi staking platform for any ERC-20 token. With the platform, users can lock their tokens and earn high yields based on the length of time staked.
Additionally, Uptrennd will be able to choose a staking structure that works for them by deciding on:
- the number of staking pools
- the number of tokens to be staked
- the rewards for each pool
- the timing for early withdrawal
Uptrennd and UniFyre Wallet
A notable benefit for Uptrennd is getting access to all the benefits of a UniFyre Wallet listing. This includes technology like Link Drops, Pool Drops, and Swap Drops.
The Link Drop technology gives users the opportunity to send crypto assets to anyone through different platforms using a single link. These platforms include Telegram, Twitter, WhatsApp, Facebook. As well as, LinkedIn, Reddit, Instagram, Email, and some other social media platforms where links can be posted.
Besides, the Pool Drop technology helps Uptrennd influencers and users send Uptrennd to 100 users at a go using a single link. Thus, making it possible to have seamless contests, AMAs, and other marketing campaigns.
With the Swap Drop technology, Uptrennd users get the chance to carry out risk-free OTC trades using a shareable link.
Advantages to the FRM holders and community
On the other side of the partnership, FRM holders and community have some benefits to watch out for.
Firstly, the listing fees paid in Uptrennd will be allocated to FRM holders with 100,000+ FRM in their UniFyre Wallet.
Additionally, the entire fees paid for the staking platform will be allocated to FRM buybacks.
About Ferrum Network, Ferrum, & UniFyre
Ferrum Network is a blockchain platform that brings financial applications to emerging markets that have products and network utility. The network also has complex financial applications that run on a DAG (Directed Acyclic Graph) system that links to other blockchains and fiat currencies.
Ferrum (FRM) is the native token of Ferrum network. The token is based on the Ethereum blockchain. To boost transaction speed, users need to spend a few FRM tokens for every transaction as an anti-spamming measure. The token burns each time spending is done.
UniFyre is a link to Ferrum’s innovative product line for investing, transacting, exchanging, and storing any cryptocurrencies. The key parts of Unifyre wallet involve instant market trades and risk-free OTC trading. Following connections with Ferrum Network and Infinity DEX, users are able to buy and sell any digital asset at market price in a decentralized way. UniFyre also solves a problem common with most crypto networks, which is the inability to undo a transaction.
Last week, Uptrennd announced its entrance into the De-Fi space. Jeff Kirdeikis, CEO of Uptrennd revealed their plans to roll out multiple De-Fi implementations (one per week) in the coming future.
Uptrennd’s 1UP token is priced at $0.059794 at the time of press, with a 24-hour trading volume of $607,756. 1UP price is up 1168.8% in the last 30 days.