Within the last decade, the crypto industry has expanded multifold. In the process, it has disrupted multiple industries. For instance, the finance industry has given way to a fundamentally different way of finance called decentralised finance. Currently, there are a lot of decentralised finance platforms that provide different products and services. The sheer number of DeFi protocols and the processes to access them is long and tiresome. This has made it harder for users to pick one that fits the best. However, an upcoming crypto project is trying to aggregate these DeFi products and services in order to bring them under the same roof. This crypto project is known as Frontier and it aims to make it easier for users to access DeFi services. Let us understand what Frontier is and how it functions!
So, What is Frontier (FRONT)?
Frontier is an aggregation layer for decentralised finance products and services. It is a chain agnostic platform that allows access to multiple chains. Users on the platform can track and manage their DeFi positions across numerous blockchains and decentralised applications. The platform supports various applications be it Ethereum, Binance Chain, BandChain, Kava, and Harmony, among others. Further, the platform also aims to provide users with the ability to stake across networks, provide liquidity to integrated applications, exchange assets, and swap assets between chains. Furthermore, it also allows users the opportunity to explore more DeFi products and services. Additionally, Frontier is also building its blockchain called the Frontier chain. The chain will act as a “decentralised key management blockchain” (a way to manage cryptographic keys without any central authority). The system will be based on the Cosmos software development kit.
Read About: Multichain or Cross-Chain?
How does Frontier work?: An overview
Frontier remains chain agnostic and allows access to multiple protocols to make its aggregation layer. Frontier provides a non-custodial wallet, which means the issuing agency has no control over the private keys. Users can use the wallet to store cryptos, DeFi, and NFT assets. Additionally, users can also send, store and invest in more than four thousand crypto assets…all on the Frontier platform. Further, the platform also allows you to earn passive income by staking your crypto assets and by supplying assets to support DeFi apps. The Frontier ecosystem comprises the following:
- Frontier DeFi Application
- DeFi Aggregator on Mobile Frontier Chain
- A Cosmos Based Decentralised Key Management Blockchain
- A unified API for all DeFi Protocols and Services
The FRONT token: a snapshot
The FRONT token is the ERC-20 token on the Frontier ecosystem. Within the network, FRONT serves by securing Fronter’s decentralised key management system. It also provides users the governance rights for the protocol. Moreover, the token can also be used for the following purposes:
- To provide liquidity on Decentralised Exchanges (DEXs) and Automatic Market Makers (AMMs)
- To build incentives for using decentralised finance services within the ecosystem.
- To acquire NFTs and referrals.
That’s not all: once the Frontier chain is live, the FRONT token will become the native token of the Frontier platform. Token holders will be able to stake FRONT to secure the network and earn rewards. FRONT will also give holders access to gFRONT, the proposed governance token of the Frontier platform. The gFRONT token will allow holders to vote on the future direction of the protocol. In addition to that, FRONT holders will also have the ability to acquire and create NFTs on the Frontier network as well. The question now is: “Where to buy FRONT token”. The simple answer: you can buy the FRONT token with Zebpay today.
Frontier is an aggregation of decentralised finance products and services that exists on various platforms. It allows its users to manage and track their cryptos, DeFi and NFT assets on their non-custodial crypto wallet. It allows access to over four thousand crypto assets. The FRONT is the ERC-20 token of the platform. This token is used to secure Frontier’s decentralised key management system. Further, a new token called gFRONT will also be proposed for making governance decisions.