TomoDEX was the first order book based DEX to list FRONT token on 15 Septermber, of which we are very proud and honored. And now this time, Palash from Frontier team took his time to share a bit more about their project and business with all the TomoDEX users.
Below is a summary of the AMA.
Q: Can you give us a quick intro about yourself and your role at Frontier?
Hi, my name is Palash. My background has been in Marketing and PR. Got started in Crypto back in 2017 worked for Singapore based marketing company Talenta, then focused on PR, Branding, and Marketing for multiple projects. I have a Computer science background, although I don’t code.
At Frontier, my role as CMO, I oversee all aspects of Frontierʼs marketing, community, PR, and brand awareness. Mainly the Product Side PR.
For those who wonder “What is Frontier??”
Frontier is a chain - agnostic DeFi Aggregation layer where users can access multiple Protocols built on Ethereum, Kava, Cosmos etc by connecting existing mobile wallets. One Tap Access DeFi, Staking, Trade much more!
Q: Can you share with us what’s the Wallet Composability concept that you are building?
As you know Frontier is Mobile-First Focused Application connecting Mobile Wallet is a challenging part. Most of the DeFi Aggregators are web-based, where users can just connect Metamask job done.
We developed TxLink – which is a Deep linking technology, it helps Frontier to connect to Wallets such as Metamask, Coinbase Wallet, ImToken, Trust Wallet without users having to import their private keys or seed. Just Enter the public address, use the Native DeFi on Frontier and then choose the wallet, confirm the transaction.
We have an in-detail article on TxLink and Wallet Composability do check it out!
Q: Can you tell us a bit more about the agnostic approach for DeFi you guys are taking, and what chains are you supporting right now?
The chain- agnostic approach was quite natural for us. We have been in DeFi before the Trend/hype whatever you call it came. While building on ethereum, we also kept looking into other chains such as Cosmos, Polka etc. There were few projects back last year building Dex’s, Baselayer protocols. We felt that we need to broaden our services and focus on these emerging chains as much as we do on ethereum.
So, we were the FIRST DeFi App to support Cross-chain CDP Protocol Kava, and Binance chain, enabling users to Mint USDX by keeping BNB as collateral.
Till date, we support 12 Protocols and platform in Frontier and Native staking for Assets such as Matic, Kava, Harmony, and BAND
Q: Our community is keen to know when we can see Tomochain in Frontier App. Leak some alpha!
We are big fan of Tomochain. The $FRONT listing on TomoDEX, the UX offered is TOP!
I’d say to the Tomo community stay tuned! we have coool stuff coming sooon. Listing of $FRONT on TomoDEX was just kickstarting our collabrations.
Native $TOMO staking coming soon to Frontier!
Q: What are the ways that $FRONT generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ? (Twitter user @KadinGutmann)
The way we are making revenue is from integrators. Most of the integration we have done is paid integrations. Protocols are ready to pay for integrations. As they are good in terms of building the protocol itself. We have leverage in terms of mobile. Also, we will expose the new integration to all of our existing users.
We will have some of the premium features as part of the App with the $FRONT pay/stake wall such as DeFi Tax Module, DeFi Analytics Module.
Integration is one of the revenue sources for Frontier, we have B2B product called Unifront in works which will offer DeFi services to custodians, exchanges etc, On/Off fiat ramps, and Staking as service in works.
From $FRONT holder point of view, The Better the product is, the strong value capture $FRONT token has. You can think this as how exchanges Biz model is: The more volume, the more listing, the more value the exchange’s native token gets. Same thing for Frontier, As we are Consumer-faced product.
Q: “Chain-Agnostic DeFi Aggregation Layer” Can you explain this in a simple language so a noob can also understand the meaning of it? As masses will adopt when it is easier to Use/understand. (Twitter user @wildnwity)
Chain-Agnostic basically means that we support multiple blockchains, not just one. Most of the DeFi Aggregators are only ethereum focused. We want to explore the uncharted territory where there are developers building base protocols. you have massive DeFi ecosystem built on Polkadot, Cosmos, and now Binance chain. We want to be everywhere Giving our users access to DeFi across multiple chains.
Q: What’s the role of your token within the ecosystem? (Twitter user @CyrusKertzmann)
Frontier’s ecosystem consists of three things
- Frontier’s Application Suite ( Frontier Mobile App and web app coming soon)
- Frontier chain ( Decentralised Key Management – Cosmos based SDK)
- Unifront B2B – Access Multiple DeFi Protocols in one API for Centralised Services
Token will be used in the following way:
Gasless Transactions: $FRONT is used to get Gasless transaction within the Frontier Application ( Mobile and Web App) we make this possible by using Relayer Infrastructure.
Frontier’s incentive protocol: The suite of Frontier applications will contain a new incentivization layer in which users will gain eligibility for rewards in the form of $FRONT based on how much native app activity they perform.
Staking on Frontier Chain
Frontier Chain is a decentralized key management chain. $FRONT will secure the network. Users will be able to participate by running a validator node or delegating tokens to validators.
Frontier will create a model for $gFRONT, the governance token used to vote on Frontier Chain. Decisions around a suitable and fair model for decentralized governance will occur within the community of $FRONT holders.
More can be read here: https://frontier.xyz/front/
Q: Can you tell us what blockchain network you will use in $FRONT? and what is the reason you chose the Blockchain network? and can you tell us about the roadmap, what is the $FRONT plan in the future? and how does the Dapp that you develop work? (Twitter user @ardiniwulanda)
We will be using Cosmos flavoured Proof of stake blockchain with Decentralised key management module. The reason why we choose cosmos was simple: If you go back to 2018–2019 creating a new blockchain needed a bigger team and huge funds to develop and bootstrapping the security was the biggest problem. But now if we use Cosmos-SDK spinning up a new blockchain in a few days, You get so many things for free in Cosmos-SDK like POS, Accounts, Staking etc. We have to work on one extra module to support DKM. Most importantly we have validator providers in Cosmos Ecosystem who help to bootstrap the security.
Roadmap: Please visit our website, it has roadmap section: https://frontier.xyz/ to give quick tl;dr we have Incentive protocol and gasless transaction coming next in coming months.
Q: Why did $FRONT choose TomoDEX? (Twitter user @Mochaz123)
Choosing TomoDEX was quite natural for Frontier. We are open finance project. We want to be DEX first project. Doesn’t make sense to go CEX first and then DEX. Moreover, TomoDEX is FAST man, The UX offered is GOOD. We are big fans of Tomochain at Frontier. There’s a lot of cool stuff to come Frontier x Tomo stay tuned!
Q: What are the benefits of Trust Wallet, Coinbase Wallet, from Frontier integration? Aren’t you competitors? (Telegram user @AndrySTP)
Frontier is a mobile DeFi interface. We adding support for Multiple Mobile wallets such as Coinbase Wallet, Metamask, Trust Wallet is a win - win for both side.
Crypto wallers are being restricted by App store to remove the dApp browsers. Users have been using Wallets to access dApps via DApp browser. and now you cant access them anymore as they are removed to comply with the App store guidelines else the App is kicked out.
— Frontier builds native interface for DeFi Applications such as YFI, Compound, Aave, Dex aggregators like Paraswap, Uniswap
User connect Mobile wallets with Frontier and can access these dApps with better user experience without having to import or moving funds out of the Wallet
ex: you have 100 USDT in Trust wallet, you connect your wallet with Frontier, deposit money in Compound using Trust Wallet + Frontier
integration example: https://twitter.com/frontierdotxyz/status/1301897226499678213?s=21
Q: At its core, Frontier is an aggregator. Are you not afraid that 1inch will release a similar application and Frontier will not be in demand or is it not possible? (Telegram user @OlegDubinskiy)
Nope we are compliment to 1inch. Infact you will soon see 1inch in Frontier Apps.
there are several types of DeFi Aggregators:
- DeFi Aggregators ( Interface) —- There is where Frontier comes in: We are interface for users to access protocols, Dex’s , Staking , Trading — Asset management layer
- Dex aggregator — Here is where products like 1INCH comes where they aggregate liquidity from multiple dex and offer best price to swap/ trade assets
Q: Due to the rise in Ethereum’s transaction fees, has the team thought about switching to another blockchain?（Which cross-chain solutions FRONTIER will use? Why FRONTIER choose to build on Ethereum first?) (Telegram user @toanphamhd)
One of the Usecase of $FRONT is to reduce the friction for users to access DeFi. When it comes to small purses it becomes difficult for them to lend/ borrow on DeFi protocols.
We’ll share more info once the Frontier vault is ready, Soonish
Q: Yeild farming is a new trending so FRONT have any plan to yeild farming system development? (Telegram user @MsKiwi206)
No Yield farming.
we are working on Sustainable way of incentivising users who use our products.
Frontier Incentivization Protocol
The suite of Frontier applications will contain a new incentivization layer in which users will gain eligibility for rewards in the form of $FRONT based on how much native app activity they perform.