Introducing Ferro Protocol
Your trusted stableswap venue on Cronos
In the past few months, DeFi projects have grown tremendously in the Cronos ecosystem, but until now, it still lacks a dominant StableSwap with deep liquidity.
StableSwaps are an integral part of the DeFi ecosystem. While traditional Uniswap V2 style Automated Market Makers (AMMs) have been vital to DeFi, a gap still exists in the ecosystem. As DeFi continues to attract users and liquidity, there is a need for a cheaper and more efficient way to swap for stablecoins and pegged value tokens.
The most common examples are stablecoins that track US Dollars (DAI, USDT, USDC). In an ideal scenario, users should be able to swap these assets of equivalent value at a rate of 1-to-1.
However, traditional AMMs utilize the x*y = k invariant (constant-product) formula, where exchange rates fluctuate greatly according to the balance of assets in a liquidity pool. While this method has the benefit of always maintaining liquidity in the pool even as prices approach infinity on both sides of the spectrum, it inevitably results in higher slippage even when the assets are highly correlated.
Ferro solves this problem.
Welcome to Ferro
Aiming to provide safe and efficient trading with the spirit to solidify the Cronos ecosystem, our team decided to come together and build Ferro — a StableSwap AMM protocol.
Ferro’s stable pool offers a wide array of utility, allowing better composability between protocols in Cronos and creating a more efficient way to access stablecoins and other highly correlated assets with lower fees, lower slippages, lower impermanent loss, and more utilization of pools.
Money market protocols can list their interest-bearing token in Ferro, while any stablecoins bridged from other chains can pair up with our existing pools to form a Metapool and bootstrap their liquidity.
For example: [UST, 3Pool] — This means users could seamlessly trade UST between the three coins in the base pool(DAI/USDC/USDT).
Wen Launch🚀?
We are passionate about delivering the best product experience for our users. Our team is now hard at work, tying up the loose ends as we speak. Ferro’s launch will be happening in a matter of weeks.
We will be launching in two phases:
Open Beta — End April
Official Launch — Mid May
Wne Token🪙?
Ferro Protocol will be governed by the $FER token. You can expect a $FER public sale in the very near future. Be sure to keep a close look-out across our social media platforms for details on $FER utilities and public sale. Information about $FER tokenomics will be covered in our future articles as well.
Particle B
We are also proud to announce that Ferro is incubated under Particle B.
Particle B is a startup accelerator dedicated to incubating projects building on the Cronos ecosystem with a high potential to bring disruptive impact.
We are excited for the opportunity to be working with the top crypto minds and bring Ferro to the next level.
Why Cronos
The Cronos blockchain is one of the first EVM compatible chains built on the Cosmos SDK. We chose to build on Cronos as we have a strong conviction that it will become a cornerstone of DeFi’s multi-chain future.
Building on top of the Tendermint core, instant finality is one of the key characteristics. This means transactions happening on Cronos are finalized as soon as a block is created. This allows Cronos to be scalable and affordable.
Together with the IBC-enabled interoperability, Cronos is able to interact with other blockchain in the Cosmos ecosystem. This enables Ferro to extend our reach to audiences between EVM chains and the Cosmos ecosystem.
What’s next?
In the weeks to come, we will be sharing more about the Ferro protocol with you. Meanwhile, chat with the community on our Telegram and follow us on Twitter to get all of our latest updates!
From the team behind Ferro
