What Is Frontier (FRONT)? How does Frontier work?

Join Camnang24h to learn about the project “What Is Frontier (FRONT)? How does Frontier work? Who Are The Founders of Frontier? What Makes Frontier Unique?” through the article below. Frontier is a crypto, DeFi, and NFT-compatible wallet that allows users to interact with Web3 products and services on their mobile devices. As of June 2022, the Frontier wallet supports token swaps of more than 4,000 cryptocurrencies across 25+ blockchain networks.

Related: What Is STP (STPT)?

Introduction

Exploring the Web3 space on a mobile device can be intimidating for many, especially new users. For instance, not everyone understands how to utilize complicated DeFi tools like staking or lending. What is the difference between APY and APR? What staking options are there? What are the best rates? In addition, users typically need to track multiple addresses across different platforms to manage their assets, which can be a daunting task.

Frontier aimsaspires to streamline the Web3 experience for everyone. With Frontier, crypto users can use one application to manage their digital assets, explore various DeFi protocols, and interact with popular Web3 applications without extensive knowledge of the space.

What is the price of Frontier (FRONT) today?

In this section one can follow the price and chart of Frontier (FRONT) traded today via the chart below. If you want to know where to buy Frontier (FRONT) at current rates, the top crypto exchanges to trade Frontier (FRONT) currently Binance, MEXC, Bitrue, OKX, and Bitget.

 

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%
• Ecosystem: 20%
• Staking rewards: 13.5%
• Reserves: 10%
• Team: 10%
• Community: 8%
• Marketing: 6%

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 does Frontier work?

Frontier operates as a non-custodial wallet. Unlike traditional crypto exchanges that store private keys to your assets, Frontier users have complete control over their funds and private keys.

Native Integration

Frontier natively integrates with crypto wallets, decentralized applications (dApps), and blockchain networks, both EVM and non-EVM compatible. Native integrations live directly inside the wallet, whereas non-native integrations rely on third-party applications or dApp browsers.

This allows users to interact with everything Web3 offers on one central interface. For example, users can easily connect and use their preferred mobile wallets, such as Trust Wallet or MetaMask, on the Frontier platform.

Normally, users would have to switch between applications depending on their crypto assets and what network they want to explore., while Wwith Frontier, everything is available in one place. On the developer side, decentralized applications and partner protocols can use Frontier to access a wide range of users without needing to build a standalone application.

Blockchain Aggregator

As a blockchain aggregator, Frontier allows users to interact with assets on different networks without switching applications. For instance, if you want to explore yield opportunities on Polygon, you can do it on the Frontier app instead of transferring your assets to another platform.

As of June 2022, Frontier supports more than 25 blockchain networks, including Ethereum and BNB Chain. Moreover, Frontier supports seven non-EVM compatible chains, including Solana, Tezos, Algorand, Zilliqa, Bluzelle, Elrond, and BNB Beacon Chain.

Frontier also provides a chain-agnostic suite of tools for portfolio tracking and management. It allows users to stake crypto, provide liquidity, monitor open positions, and enter collateralized debt positions across multiple networks.

Smart DeFi Notifications

Another critical component of Frontier’s multi-chain core is its Smart DeFi Notifications, which keep users up-to-date on their DeFi, NFT, and GameFi positions across all networks. Simply put, users can consolidate all their Web3 notifications in one hub — the Frontier app — instead of multiple platforms.

NFT Support

Besides cryptocurrencies, users can also store their NFT collections on Frontier and rely on Frontier’s in-app DeFi browser to explore popular NFT marketplaces, including OpenSea, Aavegotchi, and SuperRare, among others.

Safety Measures

Frontier practices a safety-first approach, given the growing number of hacks and malicious actors that have been increasingly active in the DeFi space over the past few years. To safeguard its users, Frontier performs rigorous due diligence on all natively integrated projects, requiring them to show proof of security via audit reports. Additionally, Frontier doesn’t store user private keys, and transactions are secured using Trust Wallet’s open-source WalletCore cryptographic functionality.

What is FRONT?

FRONT is the utility token of the Frontier ecosystem. It has a total supply of 100 million and is mainly used to incentivize users into using the wallet and exploring the DeFi space. At a later stage, FRONT will be used in an exclusive DAO portal, through which token holders will be able to discuss and vote on new features and overall project development.

Closing thoughts

In a nutshell, Frontier aims to unify the core services of Web3 for everyone — regardless of their platform. This makes it a convenient option for users who prefer having everything they need, such as wallets and DeFi tools, on a single, user-friendly interface.

Frontier is available for download on iOS and Android, with a web application slated to launch in Q3 2022. As of June 2022, Frontier has millions of active wallets and hundreds of millions in transactional volume across multiple networks.

Disclaimer: Any information provided here including featured projects should not be considered investment or financial advice. Information is provided as-is without warranties. We cannot verify the claims or reliability of the projects listed. By using this information, Camnang24h only wants to provide information for your reference before deciding to invest, not advice. Self-study!

Source: Binance.com