As per the official website, Ferrum believes that crypto projects lack a working product while they are developed, and also, the tokens lack the utility of real use cases. Tokens with a lack of utility often witness situations like price dumping quickly after being listed on the exchange as the users are not incentivized to hold the token of the projects. The Ferrum cross-chain token bridge aims to be an easy, fast, and secure bridge that adds utility to the project’s token and provides the white label bridge. With the Ferrum staking technology, users can seek to develop the instant utility of tokens in staking, rewarding the users, and protecting the project from volatility.

The platform uses two cryptocurrencies: FRM, a utility token, and FRMx, a governance token. The FRM token holders aim to have access to some exclusive benefits in the form of stakingrewards, access to presales, increased value due to deflationary mechanisms, and many more things. Users who hold the FRM contribute to the platform’s aim to remove the barriers to mass adoption of blockchain. Further, users can also seek to utilize FRM as gas fees for the token bridge between Ethereum, Polygon, and Binance Smart Chain.

Meanwhile, the FRMx seeks to add value to the ecosystem by providing long-term sustainability, fair launch, and valuable utilities. Also, community members holding FRMx aim to have access to the governance committee and play an important part in Ferrum Network.

As the roadmap suggests, the project was started in 2018. The team of Ferrum Network includes Naiem Yeganeh (founder, CEO, and lead developer), Ian M. Friend (co-founder and COO), Taha Abbasi (chief strategy officer), Salman Haider (senior blockchain architect), and several other members.