Frontier (FRONT) is a next generation DeFi aggregator. Different from most DeFi aggregators that only focus on a specific field and fail to aggregate all DeFi products. For example, YFI only aggregates decentralized lending protocols, while APY.Finance, Zapper.Finance and Farmland aggregate liquidity mining protocol. Frontier allows users to track and manage their entire DeFi portfolio. In last week, the price of FRONT was soaring from $0.98 to as high as $8.7 before settling down at $3.85, with over 300%.
In this article, KUCOIN blog will take you through this unique DeFi aggregation platform, Frontier (FRONT).
What is Frontier?
As an aggregator, Frontier tried to solve the existing issue by enabling the monitor and governance of a number of popular DeFi services like Compound, Maker, Synthetix, Aave, InstaDApp, Uniswap, bZx, Balancer and Curve.
With Frontier, users can manage DeFi positions, staking, token swap, liquidity mining, and more. To date, It has supported DeFi services on Ethereum, BINANCE Chain, BandChain, Kava, and Harmony. It is claimed that through StaFi Protocol, it will enter into the Polkadot ecosystem soon.
Who Created the Frontier?
The CEO of Frontier, Ravindra Kumar, formerly the CTO of InstaDApp and Woodstock, is a smart contract developer, Android developer, and computing polyglot. He is an early adopter of Ethereum development with rich technical knowledge of its core codebase, cryptography, and form verification. Ravindra has 9+ years of development and worked on 50+ mobile applications, including Fueled.com, Care.com, and Cleartrip.com.
The CMO, Palash Jain, has 3+ years of experience in the blockchain space and has worked with several projects including IOST, BitMax, Matic, and Lambda.
On August 26, 2020, the Frontier team announced its seed funding of $1.85 million from several investors including FTX, Alameda Research, NGC Ventures, CoinGecko and more.
What Is The FRONT Token?
FRONT, the native and utility token of Frontier, is designed to incentivize more users entry in DeFi, especially for smaller purse players who are unable to participate due to prohibitive costs. The total supply of FRONT is 100 million, and the token distribution is as follows:
- Token sale: 32.5%
- Community: 8%
- Staking rewards: 13.5%
- Ecosystem: 20%
- Marketing: 6%
- Reserves: 10%
- Team: 10%
What Is FRONT Used For
As a utility token, FRONT has a lot of use cases in the Frontier ecosystem:
- FRONT will be used to vote on Frontier Chain. Decisions around a suitable and fair model for decentralized governance will occur within the community of FRONT holders.
- Frontier will bootstrap liquidity for various decentralized protocols and platforms via FRONT. Users will also be able to provide liquidity to pools using FRONT and make passive income.
- Staking FRONT on Frontier Chain to secure the network. Users will be able to participate by running a validator node or delegating tokens to validators.
Closing Thoughts
As a DeFi aggregator, Frontier has a few unique advantages. It aggregates more DeFi applications, avoiding direct competition with major counterparts like YFI. This is why Frontier has been perceived by its users as an aggregator with the best user experience.
However, in terms of current profitability, Frontier is still falling behind YFI and Curve. In addition, the seed round investors hold lots of FRONT tokens, which account for 20% of the total supply and will be unlocked within 3 quarters.
