What is Frontier
What Is Frontier (FRONT)?
Frontier is a chain-agnostic decentralized finance (DeFi) aggregator. The project aims to add DeFi support to several blockchains, including BandChain (BAND), Ethereum (ETH), Binance Smart Chain (BSC) and Harmony (ONE).
Frontier’s applications allow users to manage staking, DeFi positions, best-rate asset swapping, liquidity mining, and collateralized debt position (CDP) creation and monitoring.
In a nutshell, Frontier is bringing the core functions of DeFi to users, regardless of the platforms they use.
Frontier began development in April 2019, and the beta platform launched in November 2019.
In August 2020, Frontier announced that it had raised $1.85 million in seed funding from numerous investors, including Alameda Research, CoinGecko, FTX, NGC Ventures, and more. The first token listing of FRONT, the native cryptocurrency of Frontier, took place in September 2020.
Who Are The Founders of Frontier?
Frontier has a team of at least 15 members spread across the world. The co-founders of the project are Ravindra Kumar, Palash Jain and Vetrichelvan Jeyapalpandy.
Kumar is the CEO of Frontier and a tech advisor at THORChain. He is a smart contract and Android developer with over nine years of experience. He has worked on over 50 mobile applications, including Care.com, Cleartrip.com and Fueled.com. Kumar has also worked as a chief technology officer (CTO) for Woodstock Fund and InstaDapp, a decentralized banking infrastructure that offers support for DeFi protocols.
Palash Jain is the CMO of Frontier with more than three years of experience in the blockchain space. He has worked with BitMax, Matic, IOST and Lambda, where he served as communications manager. He holds a bachelor of technology in computer engineering from the Global Academy of Technology.
Vetrichelvan Jeyapalpandy, the CTO of Frontier, has a track record in mobile and web development. He was a consultant at Care.com for over seven years and worked as a front-end engineer for Cleartrip.com. He holds a bachelor of technology in chemical engineering from Kongu Engineering College.
What Makes Frontier Unique?
Frontier aims to solve the problem of fragmentation within the DeFi sector. Significant isolation exists when it comes to swapping, borrowing, lending, staking and providing liquidity. Frontier aims to solve this challenge by aggregating several DeFi applications in one location.
Frontier claims that non-custodial wallets are mostly suitable for storing cryptoassets but are unusable when it comes to DeFi. This forces users to download multiple wallets in an attempt to participate in a single ecosystem. Frontier integrates several wallets such as Metamask, FortMatic, Coinbase Wallet, Trust Wallet, and imToken. Its users don’t have to transfer their cryptoassets between different wallets to participate in DeFi.
How Many Frontier (FRONT) Coins Are There in Circulation?
The FRONT token is a utility token within the Frontier ecosystem. It was made for use by small players in DeFi who are disadvantaged by high costs.
The total supply of FRONT is capped at 100 million tokens and is distributed as follows:
Token sale: 32.5%
Staking rewards: 13.5%
The FRONT token can also be used for:
Voting on the Frontier Chain. FRONT token holders make decisions within the framework of decentralized governance.
Providing liquidity to pools. This allows users to earn a passive income. FRONT tokens will bootstrap liquidity for several DeFi protocols.
Staking as a way of securing the Frontier Chain network. Users will do so by either running a validator node or delegating their FRONT tokens to validators.
How is Frontier Network Secured?
The FRONT token is an ERC-20 token. Frontier has deployed smart contracts that allow token holders to bridge their FRONT ERC-20 tokens to Binance Smart Chain’s BEP-20 standard. Frontier released its Frontier Chain Incentivized Testnet, powered by Cosmos SDK, in April 2021.
Where Can You Buy Frontier (FRONT)?
FRONT tokens can be traded on multiple centralized (CEX) and decentralized exchanges (DEX), including:
Read more here on how to buy Bitcoin and other cryptocurrencies.