We launched our $FER token via Initial Gem Offerings on VVS Finance in early June. Right after, Ferro was live on mainnet with our 3FER Base Pool offering USDT, USDC, and DAI for swapping and liquidity provision. We have also integrated with Crypto.com DeFi Wallet that gave us great exposure to bring in new users, as well as allowing us to create a seamless experience for our users using their DeFi wallet. Within a month, $FER became listed on Crypto.com Main App, Crypto.com Exchange, and VVS Finance for trading. We’ve quickly become one of the top DApps in the Cronos ecosystem and reached #3 with $89M of TVL (as of Jul 21, 2022).
With the current market circumstances, stablecoins have been the asset to hold as people try to weather the storm. Ferro as a Stableswap AMM will continue to generate great utilities for our users. Moving on to Q3 this year:
Boosted LP yield with locked staking: A lot of users have locked their $xFER tokens into our vaults, and we want to reward our loyal supporters by adding a boosting factor to the APR% of their staked LP tokens.
New yield-bearing Base Pool: A new yield-bearing token pool will be added to our list of Base Pools in collaboration with a leading protocol in the Cronos ecosystem as well, providing our users with exposure to the revenue accrual of the partner protocol.
$FER purchase capabilities: We understand the inconvenience of getting your hands on $FER via external websites. That’s why we are planning to enhance $FER purchase capabilities by partnering up with VVS Finance for swapping to optimize our protocol and bring our users a better user experience.
Partnerships with other protocols: More partnerships with other DeFi protocols will be coming in this quarter. So definitely look out for them as we expand the coverage to keep up with the traction.
In the last quarter of the year, we will be extending the list of liquidity pools and bolstering our core functionalities:
First Meta Pool & new liquidity pools: The first Meta Pool will be introduced to our protocol, allowing our users to trade between a newly added token and the stablecoins in our Base Pool seamlessly. Together with more liquidity pools in our pipeline, Ferro Pools will be further enriched in this quarter.
Rewards Dashboard: We will also be adding a rewards dashboard showing numbers on your returns, APR history, unlocked xFER, etc. This will improve the visibility of your rewards and you will be able to seamlessly keep track of your investment performance on Ferro.
Direct harvest & auto-compounding: We will introduce (1) direct harvest and locking of $FER into $xFER vault, and (2) an auto-compounding function to our $xFER vaults. With these features, you can get your $FER to work even harder for you while you sit back and watch your $FER grow.
2023 and beyond
We will be releasing more details later but here’s a sneak peek of what we have in store for our users in 2023:
Analytics page: An analytics page will be added to our protocol to provide users with better visibility of the performance of our protocol and individual pools.
Weekly Lottery: While users come to our protocol to swap assets and farm rewards for the $$, we want our users to have a bit more fun while using our protocol as well. We will bring a lottery to Ferro where users will be able to purchase lottery tickets with $FER tokens and stand a chance to win tiered prizes from our prize pools every week!
Apart from these planned features, we will continue to look for integration and partnership opportunities to enrich and bolster our protocol. If you are interested in partnering with us, drop us a message on Telegram or Discord.
Have questions or feedback on the roadmap? Keep them coming on our community channels. Thanks again for all the support you have given us so far. Stay tuned for more announcements!