LuaSwap x Frontier AMA Recap
On 04 Dec (Friday), we were honored to be hosting an AMA with Frontier’s representative at LuaSwap Telegram channel. As the Chief Marketing Officer from Frontier — a chain-agnostic DeFi aggregation layer supporting DeFi on various networks, Palash brought about lots of valuable investment information for LuaSwap users, with knowledge on $FRONT token that is designed to incentivize entry in DeFi, especially for smaller purse players who are unable to participate due to prohibitive costs.
Below is a summary of the AMA.
Host: Hi everyone, we have Palash Jain — CMO of Frontier join our AMA with LuaSwap community, great to have you here Palash!
Palash Jain: Thank you for the warm welcome. It is great to be back again in the LuaSwap community! Looking forward to answering questions and sharing cool stuff with your community.
p/s: LuaSwap NFTs are waiting for ya’ll
Btw, these NFTs rewards could be stored and checked on Frontier wallet. Users now can visualise all their NFTs positions by connecting mobile wallets with Frontier interface, getting featured on Opensea’s API.
Check more details here: https://twitter.com/FrontierDotXYZ/status/1332323130329550850
Host: Thank you and your team for the great gift Palash, could you share a bit more about your role and some key info about Frontier project with LuaSwap community?
Palash Jain: Of course! I’ll quickly brush through my role: At Frontier, my role as CMO, I oversee all aspects of Frontierʼs marketing, community, PR, and brand awareness. Mainly the Product Side PR.
Frontier is a Chain Agnostic DeFi Aggregation layer. Using Frontier, Users can Track and Manage DeFi positions, Stake Assets, Swap or Exchange Assets and explore more DeFi Applications in one single place. Frontier is also building Frontier chain, which is a Decentralised Key Management blockchain based on Cosmos SDK.
Frontier and LuaSwap share a special relation, being in DeFi space we all love innovation and building. LuaSwap’s focus on AMMs and community focus is amazing and we are glad to be one of the community projects to be listed as one of the pairs eligible to farm $LUA!
You can see more details here: https://twitter.com/FrontierDotXYZ/status/1316361280853213186?s=20
Host: What a detailed answer, I think now all of us have an overview of Frontier project, thank you Palash.
Q&A Section
Q: Binance Smart Chain (BSC) is trending right now. Is $Frontier interested or is there a plan to enter the world of BSC? (Telegram user name @uci000)
Palash Jain: We are working on a lot of projects across multiple chains. BSC has lots of amazing products built and more coming. Frontier’s chain agnostic approach is to aggregate all of the DeFi across chains in one single place. I’d say BSC is coming soon.
Q: What is the main reason Frontier makes the DeFi aggregation layer chain-agnostic? What does it do and how does Frontier do it? (Telegram user name @Rhada25)
Palash Jain: Nice question! Let’s take a step back and understand “Aggregation”. Aggregation in layman’s terms means combining multiple things in one single place. When we say DeFi Aggregation — that means bringing DeFi protocols in one single place to make Asset management easy and simple.
Frontier is a cross-chain or says chain — agnostic aggregator — we combine DeFi protocols across different chains in one single place. For ex: we have Kava’s CDP protocol integrated into our App, to make this possible we need to integrate both Kava (Cosmos based chain) and Binance chain. The UI looks simple but you have lots of moving parts in the backend. We are few of those products who have done these complex integrations and that what makes us stay ahead in the game of chain-agnostic DeFi.
So Frontier will be a gateway to help users join DeFi ecosystem on blockchain where users can access multiple protocols. That’s exactly what we are building and what users can do with our product. One simple interface for ETH, Polka, BSC, Cosmos, Solana.
Q: The problem of decentralized finance is that there is no simple and easy-to-use solution that is a barrier to the mass adoption of DeFi. How does Frontier solve this problem? (Telegram user name @SPADE_1)
Palash Jain: Nice question! There exists three problems that Frontier aims to solve and goes exactly with the question asked. Problems:
- Fragmentation
There exists no product on the market that allows users to track and manage their entire DeFi portfolio from anywhere. Lending, borrowing, staking, asset swapping, and providing liquidity are isolated, painful experiences. - Dependency & Isolation
Non-custodial wallets are great for holding cryptoassets, but strict app guidelines make them unusable when participating in DeFi. Many wallets also willfully attempt to create lock-in — this results in users downloading multiple wallets and creating many addresses to participate in one ecosystem. We must do better. - Poor Design
Providing collateral for loans, staking, giving liquidity to pools, and token swaps are stressful experiences, not because they are difficult concepts but because they are overly complicated. Friction exists in DeFi right now, and beginners find themselves at odds with DeFiʼs current UX practices.
So How does Frontier solves these?
- Aggregation
Frontier is at its core, an aggregator. We fix the fragmentation problem by enabling unified Compound, Maker, Synthetix, Aave, InstaDApp, Uniswap, bZx, Balancer, and Curve monitoring and management. As more protocols are added into the ecosystem, Frontier provides support. - Freedom & Choice
To date, we have added integrations with Trust Wallet, Coinbase Wallet, MetaMask, imToken, and Fortmatic. More will come. Our users never need to transfer assets into Frontier to participate in DeFi. We send them where they already are while giving them the best that DeFi has to offer. - Building Better
Building better means crafting great user interactions with DeFi protocols, better experiences entering and exiting liquidity pools and more precise in-app communication about the benefits and risks of products. Our current Beta app is close. Our Version 2 relaunch will be much closer. The end goal is to remove all DeFi doubt through better design.
Q: DeFi, NFT, mining and burning are very popular right now, what steps have been taken to progress Frontier in the future? (Telegram user name @angga_YUSDT)
Palash Jain: NFTs have BIG usecases, it’s just more than a collectible card or crypto kitties. There’s so much we can do with these Non fungible tokens.
We have been pushing NFTs hard with our partners and also released Native NFTs support in our App. One of the important releases in this Quarter along with Yearn Vaults.
We have completed two steps
- NFTs with partners
- Native NFT support in Frontier App for tracking and managing
- This will be probably the biggest releases. Coming soon
Check this out folks https://twitter.com/FrontierDotXYZ/status/1332323130329550850?s=20
Q: What is the difference between Frontier to other DeFi projects? Can you tell us more about its Gasless transaction? (Telegram user name @Jhenna26)
Palash Jain: I’ll quickly highlight the key points
- Frontier is a cross-chain DeFi Aggregator. while most of the others are only focused on one chain
- Frontier is also a wallet aggregator, for us to build a DeFi aggregator on mobile we need to also find a way where users can connect their wallets to access DeFi applications. we are the first app to have done “Wallet Aggregator” Users can connect Trust Wallet, Metamask mobile, imtoken, AToken, Coinbase Wallet with Frontier.
- Other interface/ aggregators are based on web/desktops.
Live Q&A Section
Q: What is the utility of your native token FRONT? Also what special features do you have or plan to implement that keep you ahead of your competitors? (Telegram user name @florinestehr)
Palash Jain:
Above are the utilities, and on the features, we have Staking — Matic, kava, band, Zilliqa etc, Tracking DeFi portfolio, native DeFi protocol integrations such as AAVE, Yearn, Compound etc…
Q: Are you planning to promote your project in countries/regions where English is not good? Do you have a local community for them to better understand your project? (Telegram user name @cormierleland)
Palash Jain: We have recently started three new local communities.
- Indian
- Vietnamese
- Korean
More local communities coming soon
Q: Can you give us an overview of FRONT token economics? Is the token designed to rise and fall with the success of the platform, and does it include any scarcity paths such as stake, store, or burn? (Telegram user name @schowalterchris)
Palash Jain: We have all the info over here: http://Frontier.xyz/front. Please check it out for more details.
Q: Please tell us more about farming on your platform. How can I get FRONT tokens and on which trading platform can I sell? ? (Telegram user name @alanisabshire)
Palash Jain: We are not doing farming as other projects. but we have an event going on together with AllianceBlock.
100,000 FRONT and 900,000 ALBT rewards for liquidity providers.
Q: What is the value of your NFT tokens? (Telegram user name @dedpul_ak)
Palash Jain: These NFTs are for the community given for free. Users can set any price for those NFTs on marketplaces and sell it, it is completely dependent on the market.
