User and Developer-Friendly Organization to Bring ‘’Composability’’ to DeFi Ecosystem: Frontier

User and Developer-Friendly Organization to Bring ‘’Composability’’ to DeFi Ecosystem: Frontier

By insidetrader | HODL the Universe | 29 Oct 2020


Greetings Publish0x community. After a while, I’m diving more and more into DeFi schemes, organizations, platforms, and ideas. So, today I selected my main topic as Frontier, its main objectives, plans, and structural mechanism about nowadays and near future. Let’s dive into details together…

Even if many of us have recognized the DeFi concept through Uniswap since May 2020, the true history of DeFi dates back to 2016. The conclusion that we will draw from here is that despite the intervening 4 years, we are at the beginning of the road, and there are still many obstacles that we need to overcome. At the beginning of these obstacles are the existence of different chains, the existence of platforms that do not have the connection to each other on asset chains, and of course the problems of us who are trying to gain a role in all of them. As users, we can't turn our back on problems that occur in different areas at the same time while dealing with such problems. For some application developers who are trying to have a role in DeFi with us, the situation is also quite difficult. They must both find the most financially viable way for themselves and attract different customers to the platforms they will produce. But the cryptocurrency ecosystem is not just 1 chain or 1 platform. In this complex and multiple systems, everyone is trying to get a place for themselves.

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An integrative solution is needed for the current conditions, which I try to briefly summarize above. Neither the Ethereum chain alone nor other chains that claim to be rivals to it have yet succeeded. As a result, solutions continue to form while problems continue. It is at this point that a new formation appears, both to maximize the user experience and to solve the ongoing problems of developers: Frontier.

 

What is Frontier, briefly?

Frontier team has started to work together in early 2019 and launched the platform in the 3rd quarter of 2020 alongside the native token, FRONT. It is a platform that has been implemented by the roadmap as of Quarter 3, 2020. Although it basically looks like a DeFi project, it actually offers innovative solutions for existing problems. Among these solutions, the platform cares about each chain maintaining its own identity, rather than the already existing ‘cross-chain’ and 'multi-chain' supported focuses. They prioritize creating products where all chains can be accessed by users at the same time instead of the load that all chains will bring under one roof.

Frontier is a chain-agnostic DeFi aggregation layer. To date, Frontier have added support for DeFi on Ethereum, BandChain, Kava, and Harmony. Via StaFi Protocol, Frontier will enter into the Polkadot ecosystem. With Frontier applications, users can participate in protocol tracking and management, staking, best-rate asset swapping, liquidity provision, CDP creation & monitoring, and more.In short, Frontierʼs core mission is to bring the essential pieces of DeFi to users across whichever platforms they prefer.

The leadership of the people dedicated to this mission is held by Ravindra Kumar, Vetrichelvan Jeyapalpandy and Palash Jain. The team is competent not only in crypto or finance, but also in the areas of smart contract writing, DApp creativity and infrastructure production. After many years of work, they are working together to join forces on the issues I just mentioned.

In my sentences above, I stated that Frontier is not just a simple DeFi organization. On the contrary, they are looking for solutions to existing problems and developing various products for the way out. Now let's see these products together.

 

What are the Products of Frontier?

1. Frontier Wallet: After appearing in November 2019, they managed to collect different chains in a single application within 1 year. In addition to the understanding that prioritizes the asset security of its users, it allows the use of various DApps on multiple chains at the same time. After 11 months of transformation and development, Frontier is not just offering its users an ordinary wallet to store their assets. In addition, the mobile app supports the effective use of funds by providing live notifications about lending, staking, or collateral-liquidity.

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2. TxLink: The most common wallets currently on the market are known as TrustWallet and AtomicWallet, as the Publish0x community will know closely. Although both wallets have addresses belonging to different chains, they are not yet products that allow simultaneous multi-platform use or are closely monitored for developers. The main reason they can't be is to make employees more isolated. In other words, community wishes can not rise to the top in the priority ranking.

Along with TxLink, Frontier introduced the wallet composability feature. As a result, we not only track our assets across different chains, but also save time when using various platforms. Because normally for any DApp use, we must open a new wallet, write down the words, send money for commission, connect and make transactions respectively. But thanks to Frontier, these 5 steps will only go down to 2. Send enough assets to the existing wallet to cover the commission, connect to the application and approve the transaction. After that, the time and labor spent on each application will also be reduced by at least half. In addition, with Smart DeFi notifications to be provided on mobile, you will be able to be aware of the status of your crypto at any time.

3. Frontier Chain (IN FUTURE): Although it is still an idea, the team will achieve the development of Frontier Chain with sufficient time and effort. Thanks to it, it is expected that a key step will be taken in terms of decentralized management. Although the ERC20 chain has been used, the establishment of mainnet will become mandatory due to its long-standing problems. That is why priority will be on mainnet infrastructure and integration. Second quarter of 2021 is an estimated time for the release of Frontier Chain mainnet. To be instantly informed of all these developments, join Telegram announcement channel.

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Why ERC20 Chain and What is $FRONT Token?

Although all the failures, inadequacies and problems are obvious, the ERC20 chain is the first choice of most projects due to its weight and high-level integration in the current ecosystem. The ETH2.0 upgrade is expected for 2 years, but it has still not been implemented. This is why the mainnet upgrade is needed before the middle of 2021. So what are the details specified for the $FRONT token?

Produced in total of 100 million, FRONT tokens are designed as a unique integration tool for Frontier. Consumption space is created not only for users, but also for developers and business partners. On September 15, FRONT listed on various DEXs. 11.35% of the total supply is in circulation as of October 29, 2020, when some of the tokens previously offered for sale in the name of fundraising are also taken into account. Don't forget to check out the ''Tokenomics'' page for details on when the remaining close to 90 million tokens will be distributed.

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During the FRONT token distribution, no token distribution was made before the exchange listings in order to achieve complete decentralization. The goal of this is both to eliminate inequality and is to prevent FRONT from being listed on another exchange. Currently, SerumDEX is open for trading through the Solana chain for FRONT, which is listed on exchanges such as OKEx, MXC, or Uniswap.

 

Features of Frontier

  • Staking on Frontier Chain as well as other ones
  • Free or near-free transactions with locking FRONT
  • Frontier Incentivization Protocol
  • Liquidity Provision
  • Governance via $gFRONT token
  • NFT Acquisition and Creation 
  • Deflation and so on...

 

It's available to use more than 5 different chains, 6 different platforms, and protocols. Also, users can stake MATIC, BAND, and KAVA tokens on Frontier Wallet now. It's expected to integrate more chains such as Polkadot, Solana, Elrond Network, and Frontier Chain of course. Make you sure you follow the Twitter account to be updated and always DYOR/ Do Your Own Research. 


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insidetrader
insidetrader

Freelance crypto writer & translator


HODL the Universe
HODL the Universe

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