What Is Frontier Token (FRONT)?
What is FRONT?
Frontier is a versatile mobile wallet that enables users to engage with Web3 offerings, including crypto, DeFi, and NFTs. This wallet facilitates token exchanges for over 4,000 cryptocurrencies spanning 25+ blockchain networks.
Frontier's objective is to address the issue of fragmentation in the DeFi space, where there is substantial isolation across activities such as swapping, borrowing, lending, and liquidity provision. To tackle this challenge, Frontier seeks to consolidate multiple DeFi applications into a single unified platform.
Introducing FRONT
$FRONT is the utility token of the Frontier ecosystem, a DeFi (Decentralized Finance) project that is revolutionizing the way users interact with multiple DeFi protocols. The token is built on the Ethereum blockchain, adhering to the ERC-20 standard, which ensures compatibility with various decentralized applications (dApps) and exchanges.
Frontier acts as a gateway to the DeFi universe, providing users with a user-friendly interface that simplifies their interaction with multiple DeFi protocols. $FRONT plays a pivotal role within the Frontier ecosystem by facilitating various functions, including staking, governance, and protocol incentives.
Origin of FRONT
$FRONT was created by Frontier, a team of blockchain enthusiasts and developers dedicated to enhancing the DeFi experience. The project was founded by Ravindra Kumar, a passionate crypto advocate who recognized the potential of DeFi but understood the need for a more user-friendly and accessible approach. Frontier's team comprises talented developers, blockchain engineers, and industry experts who share a common goal: to make DeFi accessible to everyone.
Ravindra Kumar's vision for Frontier was to bridge the gap between the rapidly evolving DeFi landscape and the everyday user. By providing a single, user-friendly interface for various DeFi applications and protocols, Frontier has made significant strides toward achieving this vision. The team's commitment to innovation and user-centric design has driven the success of the project and the $FRONT token. Frontier began development in April 2019, and the beta platform launched in November 2019.
Uses Cases of FRONT
Now that we've established what $FRONT is and who's behind it, let's explore the compelling reasons why you should consider trading this token:
Utility Within the Frontier Ecosystem: $FRONT is not just a speculative asset; it has tangible utility within the Frontier ecosystem. Users can stake $FRONT to earn rewards, participate in governance decisions, and receive protocol incentives. This utility ensures a continuous demand for $FRONT tokens.
Exposure to DeFi Growth: DeFi is one of the most dynamic and promising sectors in the blockchain space. By trading $FRONT, you gain exposure to the growth and potential profits associated with the expanding DeFi ecosystem. This can offer significant returns and opportunities for investors seeking to participate in the landscape of decentralized finance.
Governance Rights: $FRONT holders have a say in the governance of the Frontier ecosystem. This means you can participate in decisions related to protocol upgrades, fee structures, and other important matters, giving you a voice in the project's direction.
Incentives and Rewards: Staking $FRONT can yield attractive rewards in the form of additional tokens or other benefits, providing an opportunity for passive income. One notable perk is the "Gasless Transactions" feature, wherein users who lock their $FRONT tokens in the Frontier Vault gain access to subsidized gas fees when conducting transactions within Frontier's suite of products and applications. This not only reduces the cost of interacting with the platform but also promotes the widespread use of $FRONT.
Diversification: A well-rounded investment portfolio includes a mix of assets. $FRONT can serve as a valuable addition, diversifying your holdings beyond well-known cryptocurrencies like Bitcoin and Ethereum. This reduces risk by spreading exposure across different asset classes within the cryptocurrency market.
Non-Fungible Tokens (NFTs): $FRONT also extends its utility to the realm of NFT. Users can use $FRONT tokens to pay for the issuance of NFTs via the Frontier ecosystem. This feature simplifies the process of creating and managing NFTs while utilizing $FRONT as a valuable resource.
Liquidity: $FRONT is actively traded on various cryptocurrency exchanges, providing ample liquidity for traders looking to enter or exit positions with ease. This robust liquidity for $FRONT enhances market accessibility, allowing traders to respond quickly to market developments and capitalize on trading opportunities with confidence. The availability of liquidity also contributes to the overall stability and reliability of $FRONT as a trading asset.
FRONT Future Developments
$FRONT 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. Frontier currently has millions of active users and hundreds of millions in transactional volume across multiple networks, signifying its potential for growth in the years to come.
Circulating Supply of FRONT
FRONT tokens serve as utility tokens in the Frontier ecosystem, designed to assist individuals with limited resources in the DeFi sector, where expenses can be prohibitive.
The overall FRONT token supply is limited to 100 million tokens and is apportioned as follows:
Token sale: 32.5%
Ecosystem: 20%
Staking rewards: 13.5%
Reserves: 10%
Team: 10%
Community: 8%
Marketing: 6%
Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service. Trading digital assets and digital asset derivatives comes with significant risk of loss due to its high price volatility, and is not suitable for all investors.