Recap of AMA of Avalanche with Frontier
On the 5th of January 2022 @ 11:00 AM ET, An AMA session was held on Avalanche official Telegram group with special guest Ravindra Kumar from Frontier. Below we present to you an excerpt from AMA with questions and answers. It was wonderful and very informative, Enjoy reading 🙂
Nicolas | Avalanche
Welcome @ravidsrk !
Ravindra Kumar | Frontier
Glad to be here.
Nicolas | Avalanche
We are glad to have you 🙂
Can we get a small introduction about yourself and the story behind Frontier ?
Ravindra Kumar | Frontier
Sure.
I’m Ravindra Kumar, My background has been developer all my life. I started exploring crypto way back in 2017. I was very very early adopter of DeFi. I used to work with InstaDApp as CTO. I built frontier as i wanted a aggregator for myself track positions on Maker, Compound and Uniswap.
At that point, TVL in DeFi was around $60m. We wanted to capture atleast 20% of the userbase to track their portfolios through Frontier.
We started as read only DeFi Tracker App in 2019. Now we have grown our product to track, send, store, invest in more than 4000+ Assets at a place
Nicolas | Avalanche
Yeah TVL in DeFi has grown quite a lot since $60m ^^
Let’s start taking the questions from Twitter 🙂
Ravindra Kumar | Frontier
Sure.
Nicolas | Avalanche
The first question comes from Wawan584264433: Can you explain how Frontier works? What are the advantages of its features?
Ravindra Kumar | Frontier
Frontier is a Crypto & DeFi, NFT wallet where you can send, store & invest in 4,000+ crypto assets. Earn passive income on your crypto by staking or supplying assets in DeFi apps and explore web 3.0 from a single place.
Biggest advantage is we have a native way to manage entire DeFi and NFTs.
We support both evm and non-evm ecosystem.
Nicolas | Avalanche
Second question by AshaVaadi: What makes Frontier different from all the other DeFi Aggregators out there in the block chain space?
Ravindra Kumar | Frontier
All the existing aggregators are built only for web only.
We started as Mobile First DeFi aggregator.
We intend to release for WEB also in coming months.
Most of the existing aggregators support evm only chains. We support aggregation for both EVM and Non-EVM chains
Nicolas | Avalanche
Those are great differentiation factors I must say. Question #3 by dodoavax on Twitter: Can you tell me one of the reasons for choosing Avalanche?
Ravindra Kumar | Frontier
Biggest reason is AVAX Community. We kept on getting requests from our users for AVAX integration as of now we have integrated Avalanche C-Chain.
Another reason is Robust AVAX ecosystem with great adoption through various projects like Trader Joe, Benqi, Pangolin, YieldkYak etc.
As AVAX C-Chain is EVM compitable, It was easy to add support for AVAX.
Nicolas | Avalanche
Great news 🙂
Question 4 by andre_shifu: I read on the website that Frontier doesn’t charge any fee for users. So, how can Frontier generate profits for the business and make sure this project will be a long term project?
Ravindra Kumar | Frontier
As a wallet and aggregator, our work is to facilitate users with better UX in a non-custodial way. All our integrations are done in non-custodial way, there is no middle-man or smart-contract to charge FEE for it.
We have great Business to Protocol (B2P) pipeline for our revenue to integrate more and more protocols across the chains for our long term sustainablity
Nicolas | Avalanche
Fifth question is asked by TekilBilge on Twitter: What I’m wondering is how many people in total are using the #Frontier app right now.
Ravindra Kumar | Frontier
As of today we have more than 350K users using Frontier across Android and iOS.
In our experience with DeFi and Crypto number of users isn’t the correct metric.
We must look at how much worth of assets being managed through Frontier App.
As per DeFiLamma there is 250b+ worth of assets have been locked in DeFi protocols across the chains.
We aim to give users access manage all of these protocols through Frontier through Native UX.
Nicolas | Avalanche
Okay question 6 by EPwnage on Twitter:
Can you share more details about the goals that Frontier aim to achieve in the market? Which main products are you focusing at the moment?
Ravindra Kumar | Frontier
We are releasing complete suite of products specifically to AVAX with Native integrations of Benqi, TraderJoe, Pangolin etc
Frontier is releasing first app to track NFTs on AVAX network. We would be releasing NFT APIs specific to AVAX.
We are working on improving the on-chain trading experience. Right now on-chain is broken as you need to visit multiple places to get all the information required to trade.
We would be release On-Chain trading experience with Charting, On-chain analytics, Trading with most effective order routing with 0x API on Mobile.
Last but not the least, We would be releasing our MAINNET for Frontier Chain in upcoming months.
We have put lots of work into our MainNet.
Nicolas | Avalanche
All this sounds very exciting !
Question 8 by iamAnup123: How does your project bring its products to the average consumer — especially non-crypto users?
Ravindra Kumar | Frontier
We are doing this by simplifying the UX. Most of the UX on web3 is still really difficult for non-crypto users. Like creating wallet, buying crypto, deposit crypto into protocol, we facilitate all of them in one app.
Nicolas | Avalanche
Yeah simple UX is key. Avalanche dev’s are also working on improving it across the board
Before taking the last question AshaVaadi asks: You have a different token $gFront for governance. Why not use your native token $Front?
Ravindra Kumar | Frontier
$FRONT token was created with completely different utility and different market. As of now FRONT tokens are scattered across multiple chains. We have more 30% of supply on BSC. And to do cross-chain governance is not an easiest thing. We have used FRONT on various FARMs as incentives.
Another important reason was we had sold more than 35% of the FRONT tokens to Investors. We can’t let investors decide on Governance Decisions.
Nicolas | Avalanche
Last question we take from Twitter comes from AEmreKeless: There are a lot of DeFi and apps available nowadays. Why should I bring my assets to Frontier?
Ravindra Kumar | Frontier
We are non-custodial wallet with wallet-aggregation feature.
If you are already using existing wallet, you can still use Frontier with your existing wallet.
Hers are some of the examples:
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???????
Can you share to us your tokenomics? How much is the total and circulation supply of your tokens? Will there be buy back system or token burning in the future?
Ravindra Kumar | Frontier
Cemil
Why didn’t you put the DApps browser part in your wallet app? Don’t you think this is a must have feature?
Ravindra Kumar | Frontier
We are working on adding this feature in coming weeks. So we are aware of this feature requirement.
NIm06
Could you tell us about Unifront SDK support?
Ravindra Kumar | Frontier
It’s a Postman for DeFi, you can imagine as Plaid for DeFi.
Nữ Sinh Đồng Khánh
Where can I buy your tokens now, what are your current contracts address and how can I buy them and what are the benefits?
Ravindra Kumar | Frontier
https://www.coingecko.com/en/coins/frontier
Sanjuanita
Staking programme is very important for any project,?? Can i stake your token,? Do you have any plan of starting staking programme,??
Ravindra Kumar | Frontier
Yes. We have an Staking Program on HotCross.com
Áo Trắng Rawls
Since NFT is popular nowadays, is there a plan for NFT integration?
Ravindra Kumar | Frontier
We already have NFT Integration on AVAX, ETH, Polygon and BSC.
? Early Bird Mendoza
Can you tell us about your team members? are they qualified and professional in their fields? what are the recruiting qualifications for team members for your extraordinary project?
Ravindra Kumar | Frontier
You read all about our team here: https://frontier.xyz/about/
Nicolas | Avalanche
Awesome ! Thank you for answering all these questions Ravindra. It was a pleasure to have you 🙂
Were can the community find out more about Frontier beside the website you just linked ? ^^
Ravindra Kumar | Frontier
About Frontier
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.
Website | Telegram Community | Telegram Announcement | Twitter | iOS | Android
About Avalanche
Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Developers who build on Avalanche can easily create powerful, reliable, and secure applications and custom blockchain networks with complex rulesets or build on existing private or public subnets.
Website | Whitepapers | Twitter | Discord | GitHub | Documentation | Forum | Avalanche-X | Telegram | Facebook | LinkedIn | Reddit | YouTube
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