Ferrum Network receives Grant Award to integrate Algorand with Their Cross Chain Token Bridge and Staking as a Service Solutions

Sept 1st, 2021 -  We are delighted to announce Ferrum Network is the latest recipient of an Algorand Foundation Grant. Ferrum Network will integrate Algorand with their Cross Chain Token Bridge and their six different Staking as a Service products. 

Ferrum Network was launched by a team of crypto industry experts in June 2018. The project’s goal is to facilitate the mainstream adoption of cryptocurrencies on a global scale. Ferrum Network is a deflationary cross-chain Blockchain as a Service DeFi company specializing in adding token utility and advisory services to projects across the crypto space. Ferrum builds white-label blockchain solutions that empower startups and established organizations, enabling them to get their product to market faster.

As we continue to see the evolution of blockchain infrastructure and L1 solutions, it becomes increasingly evident that the tools that exist on Ethereum are few and far between on other solutions. This is where Ferrum Network comes in. With this grant, Ferrum will be bringing their suite of white label products to the Algorand ecosystem. In doing so, Ferrum aims to break down barriers to the mass adoption of Algorand. By bringing a secure set of protocols to the network and empowering projects in the ecosystem, Ferrum enables projects to focus on their roadmap and get their core products to market faster. As with everything that Ferrum does, these products add an additional layer of token utility that competitors fail to. 

Furthermore, through Ferrum Advisory Services (FAS), Ferrum Network is responsible for incubating nearly a dozen projects with another dozen in the pipeline or in stealth mode. The aim at FAS is to carefully curate a selection of fundamentally sound projects with functioning products and legitimate use cases. Ferrum intends to help grow the Algorand ecosystem in this regard as well by referring FAS incubated projects to Algorand for either first right of refusal for their investment arm or their grant/developer support programs when building on Algorand.

“The amount of dApps that have added value to the Ethereum ecosystem is staggering. Many of which are easily configurable to EVM compatible and L2 solutions. But this has led to more scalable L1 solutions to be left on an island with few early adopters choosing scalability over comfortability. We believe that we can help solve this problem in a multitude of ways and we are extremely grateful to Addie, Jason, and the rest of the Algorand Foundation for this incredible opportunity!” - Ian Friend, Co-Founder and COO at Ferrum Network. 

"We are delighted to welcome Ferrum Network to the Algorand ecosystem through our Grant Program. For mass blockchain adoption, interoperability is imperative. The true value of blockchain use cases across digital identity, healthcare, supply chain, etc. cannot be fully realized without interoperability. We are very excited to partner with Ferrum Network and look forward to integrating with their Cross Chain Token Bridge’’. -  Jason Lee, COO of the Algorand Foundation.

Algorand Foundation is excited to welcome Ferrum Network to the Algorand ecosystem through our Grant program. For more information on Ferrum Network, please visit https://ferrum.network/about-us/. If you are interested in submitting a project for support from the Algorand Foundation Grant program, please apply here.