Weekly Update — September 13, 2019

Dear Community,

We are getting back to our weekly updates now in a more digestible format. Since the last update here is what has transpired on the business and tech sides of Ferrum.

Business Update

• Announced a 2.5 million FRM token burn in partnership with Bitmax.io, reducing the circulating supply;
• Signed a partnership with a major (top 20) project to extend presence in African market and offer a top asset within the Ferrum ecosystem;
• Submitted our application to regulators to launch a Ferrum- powered fiat gateway in a high-growth region;
• Initiated our real-world advertising campaign (contests to be announced soon)
• Opened two new Ferrum Network international communities (German and Italian) now growing at a considerable pace; and
• Held an AMA to update the community on recent progress.

Tech Update

The engineers have been working around the clock to launch the updated Kudi app. Here are the updates in brief:

• Continued development on the updated Kudi app;
• Strengthening the Point-of-Sale system in the app;
• Continued internal testing the updated app;
• Near finalizing the staking mechanism with front end web version near completion;
• Continued to interview devs to add to the tech team.

Kudi Update

The new marketing campaign targeting shopping centers and hosting events has yielded impressive results, with nearly 100% growth in the past month.

• Bogobiri Hotel (https://bogobiri.com) events are now complete. It was a great event, and we are happy to have the Bogobiri community as part of our ecosystem.
• Kudi Exchange now has over 70+ Businesses sign up for the Kudi Exchange POS.
• The 3 Day Product fair at the New Atlantic mall is complete. We signed up about 100 non-crypto users and 20+ Business.
• We are almost due for a massive upgrade on the Kudi Exchange Android App. We will see a heavy reduction in fees for our users. This releases is imminent.
• Prepared the next event on September 20, 2019, a crypto hangout sponsored by Kudi Exchange

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https://i.redd.it/xy9ll9xvjlm31.png

What’s Next

We have a lot in the pipeline and continue to progress even in challenging market conditions. In the upcoming weeks, we forward to announcing new partnerships, listing on our 3rd exchange, and launching our staking mechanism.

Stay tuned next week for another set of updates!

Very truly yours,

Ferrum Network Team

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