Frontier — Research by Cryp2Gem

Chain-Agnostic DeFi Aggregator

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PROJECT: Frontier

CHAIN /TOKEN TYPE: Ethereum / ERC-20
There is also a BEP-2 (Binance Chain) for Binance Ecosystem and SPL (Solana) token type. SPL is intended for Serum Exchange compatibility.

LIVE MAINNET: planned for Q2 2021

DEV ACTIVITY (Github/Gitlab): very active GitHub with 4 repositories and about 1900 commits

PRODUCTS: Frontier Apps ( iOS and Android), Read-only beta stage for web app, TxLink — a Middleware to connect multiple mobile wallets with Frontier, Native integrations of DeFi Apps such as Compound, AAVE, Yearn, Uniswap, Paraswap, and many more.

EXISTING CUSTOMERS AND USERS (dapp.com & dappradar.com): 5k+ Frontier App downloads on Google Play (+ downloads on iPhone and AppleTV)
There are 28 reviews on google play with an average score of 4.4. — very positive overall feedback on UI/UX and performance.

COMPETITORS: The aggregator space is divided into web and mobile. Frontier is Mobile-first focused DeFi Aggregator which does both Read and Write operations. There is no other product with both capabilities.

  • On the Web App side: Zerion, Debank, Zapper and Monolith as DeFi interface/aggregator or Asset management layer.
  • Other products such as InstaDApp, Argent, Furucombo, imToken and Set Protocol are more of compliment products rather than competitors. Some of these products are already integrated and yet to be in Frontier mobile app.

TEAM: Team consists of three co-founders from India: Ravindra Kumar CEO (former CTO of InstaDapp), Vetrichelvan Jeyapalpandy CTO (13 years of development experience), Palash Jain CMO (in charge of marketing of IOST, Bitmax, Matic, Lambda). Other team members are mostly very experienced developers.

PARTNERS: Fantom, Stafi, Celo Alliance, Band Protocol, Kava Labs, Elrond, Matic, Biconomy (for gasless transactions), Zilliqa, ZeroSwap, Decentr, Injective Protocol, OpenDefi and Altonomy to bring institutional grade liquidity management.

INVESTORS and BACKERS: Alameda Research, Woodstock, Mechanism Capital, Bitcoin.com, NGC Ventures, CoinGecko, Spark Digital Capital, Black Edge Capital, AU21 Capital, TRG Capital, Bidesk, Matic

TOKEN USE CASE AND REVENUES:
*staking on Frontier Chain
*governance via $gFRONT
*deflationary integration
*ecosystem discounts
*NFT acquisition and creation
*discounted token sends and CeFi on ramping
etc.

What are the actual revenues for the company here to grow on? The DApp is free to download, there are almost no fees. We have asked the team about their revenue model and COO Anh Phi replied: “We generally keep this information confidential as it’s part of our secret sauce and unrelated to our apps, which are completely free to use and explore. In the coming weeks, we’ll release more posts about what we’re working on, which problems we’re solving, our revenue models, and more.”

TOKEN METRICS:
*Seed Round: 10% total supply
$0.05 / 25% released after 6 months; 12, 15, 18
*Private round: 20% total supply
$0.065 / 25% unlocked; 25% released after 3 months, 6, 9
*Early supporters: 0,6% total supply
$0.08 / No lockup / Max nr of early supporter slots: 25
*Public sale: 1,9% total supply / $150K cap
$0.08 / No lockup

FULLY DILUTED MARKET CAP: $6,5M
INITIAL MARKET CAP: $750k
TOTAL TOKEN SUPPLY: 100 million
INITIAL CIRCULATING SUPPLY [%]: 11,35%

FUNDS RAISING INFO:
*Seed Round: 10% total supply
$0.05 / 25% released after 6 months; 12, 15, 18
*Private round: 20% total supply
$0.065 / 25% unlocked; 25% released after 3 months, 6, 9
*Early supporters: 0,6% total supply
$0.08 / No lockup / Max nr of early supporter slots: 25
*Public sale: 1,9% total supply / $150K cap
$0.08 / No lockup

TOKEN DISTRIBUTION:
Ecosystem 20%
Team 10%
Reserves 10%
Marketing 6%
Seed 10%
Private: 20%
Early supporters: 0,6%
Public: 1,9%
Community: 8%
Staking Rewards: 13,5%

ROADMAP:

Frontier has many important milestones to reach in the following year. In early 2021 they have a Testnet launch in plan with Mobile Support and SDK available. Those are the seeds from which their project will grow further throughout the year. The next important goal is the Mainnet launch planned for the first half of 2021. Please see the detailed roadmap below.

Frontier’s roadmap

SOCIAL MEDIA at the time of writing:
Twitter 1900
Telegram 650
Frontier blog

NOTES

One of the main DeFi problems is the fragmentation of all the protocols and solutions. Hard to keep up and to review everything to make the best choice. What platforms to use, where and which tokens to stake, what to use as collateral, what APR rates are the best, etc. If you have a trustworthy tool bringing all those fragmented pieces of DeFi under one roof, well this is something people might like, adapt quickly and use it.

Frontier integrated some of the top and widely used DeFi protocols already. This makes staking and using DeFi protocols easy on mobiles with Frontier app (both Android and iPhone). Adoption is through mobile apps. Easy, simple, and with few clicks, this is the way to go. No general crypto enthusiast will try to study all the possibilities, all the DeFi protocols, staking, and risk his money. Not even to consider the least educated crypto community. A wallet like this would make things much easier for crypto savvy and might even attract some new users who are eager to try out all the possibilities they heard the DeFi offers but just didn’t know how to approach. Many people just don’t know so much about staking, how to do it, where to go etc. So there seems to be an ongoing trend to find a solution for this. Frontier seems to be a good and very useful solution for the Ethereum Ecosystem where most DeFi protocols come from but have also a cross-chain action enabled to connect to Tendermint environment. Currently supported are DeFi Applications which are built on Ethereum, Cosmos, and Binance chain. Polkadot Ecosystem integration follows soon, while the support for Solana and Serum is already being researched.

With Frontier, one can create a cross-chain Collateralized Debt Position (CDP) and monitor it. The following example described is for staking BNB as well as KAVA or mint USDX with KAVA as a Collateralized Debt Position (CDP):

“For KAVA BNB CDP — You basically transfer your BNB from your BNB address -> BNB deputy -> ( Interchain) -> Kava deputy -> Kava address. The USDX minting happens on the Kava side after you deposit the BNB to the Kava chain and put it as Collateral (CDP). You connect your Wallet (like Trust wallet) with Frontier App and stake BNB/mint USDX.”

So you can create a debt position on Kava blockchain with your BEP-2 tokens to mint USDX.

Frontier has also built-in TxLink — which acts as middleware and helps to connect multiple wallets so that you don’t have to move your funds or import private keys. One wallet for them all. Currently, you can connect Ethereum and Tendermint wallets, as well as Polkadot Ecosystem, Solana, Elrond and other wallets in the future.

Some highlights what Frontier actually offers:
*Wallet integrations with TxLink: Trust wallet, Coinbase wallet, MetaMask, FortMatic, imToken (and any other web3 EIP681 wallet)(Argent, TokenWllet, Ledger soon)
*Integrated protocols of Maker, Compound, Uniswap, bZx, Synthetix, Set, Aave
*Supported chains from Ethereum, Tendermint (Cosmos) and Polkadot, Kusama, and Elrond soon to come.
*Staking: BNB, Kava, Band, Matic (ZRX, Flexacoin FXC, and Kyber KNC soon)
*Platforms: dYdX, Balancer, InstaDApp, TokenSets, DeFiZapp, yearn.finance, Curve

That quite covers the main DeFi protocols and platforms. And with upcoming Polkadot & Substrate integration, we get projects like Stafi, Centrifuge, Edgeware available on Frontier. A trendy and complete solution.

Amongst the all-in-one DeFi solutions and aggregators we can find some competitors of the Frontier, as well as complementary products that are already integrated into the Frontier App or will be in the near future:
*DeBank: DeBank is the next-generation non-custodial DeFi wallet in the Ethereum ecosystem that is used to track portfolio, explore DeFi projects, compare DeFi rates to discover DeFi investment opportunities through detailed real-time on-chain data.
*Zapper: Manage your DeFi assets and liabilities in one simple interface and connect wallets
*Zerion: connect wallets, manage and trade portfolio, access lending defi protocols, borrow stablecoins with portfolio assets (wallets: Metamask, imToken, Trust wallet, Coinbase wallet, Tokenary; protocols: Uniswap, Compound, MakerDAO)
*Monolith: non-custodial wallet, a complete DeFi aggregator solution to swap (Uniswap, Kyber, Bancor, 0x, Mesh, EtherDelta), spend (ETH, DAI, SAI, MKR, TKN, etc), earn interest on stable (cDAI, CHAI) and borrow against your assets (MakerDAO) with a connected VISA debit card and an account number or IBAN. In the future Monolith could be integrated into the Frontier.
*Argent: 20k wallets downloaded; mostly adopted non-custodial DeFi wallet for Ethereum ecosystem — Store, send and save; borrow, earn interest and invest (MakerDAO, Compound, Set Protocol, Uniswap, Pool Together, Aave, Sablier). Once Argent supports deep-linking, Frontier will be able to connect them into their App and users can access more DeFi protocols by connecting Argent Wallet.
*InstaDapp: access all the DeFi protocols (MakerDAO, Compound, Oasis, Kyber, Curve, dYdX, I inch, Aave, Uniswap). Native InstaDapp is already live in Frontier App.
*imToken: multi-coin wallet management: BTC, ETH, EOS, ATOM, BCH, TRX, LTC, CKB, KSM, DOT tokens, build-in token dex, interest-earning (of DAI on Compound, staking of ATOM, interest-bearing Bitcoin imBTC. imToken support is already integrated into the Frontier.

It seems that some of the biggest DeFi all-in-one solutions and aggregators like Argent, imToken and InstaDapp exist in complementary symbiosis with the Frontier App which is an added value for those DeFi products. Debunk, Zerion, Zapper and Monolith could be the biggest competitors but there might be a great advantage of Frontier with cross-chain staking and protocols access on Tendermint and Polkadot. Especially if they manage to integrate the Substrate as soon as possible.

There is very high competition amongst DeFi aggregators, seems like the market is saturated with similar products. Mostly on the Web side, but the future lies in the Mobile Apps. Frontier offers all-in-one easy solution to access your scattered funds, lending/borrowing defi protocols and staking. Frontier is chain-agnostic DeFi aggregation non-custodial, all-in-one solution which gives them a great advantage to other competitive alternatives, especially by offering a Mobile App covering both cross-chain DeFi Protocol as well as wallet aggregation.

They will have ERC20, BEP2 and SEP tokens with Binance BNB staking on the wallet, staking of KAVA, MATIC and BAND as well. The Band was one of the IEOs on Binance’s Launchpad, so were Elrond and Matic. This means Binance is including Frontier Wallet in its ecosystem. Finally adding a DeFi solution, all-in-one DeFi wallet solution. OK, we have a Trust Wallet which is Binance’s official multi-coin wallet and dApps browser but Trust Wallet is integrated into Frontier and not a similar wallet.

It is really interesting to see Frontier Wallet mentioned under Binance Chain Docs. It seems quite obvious that Frontier is part of Binance evolution and I even speculated that it might as well be one of the following Binance Launchpad IEOs. That didn’t happen but Frontier might be a serious contender in the development Of Binance Ecosystem.

Frontier’s core team mostly comes from India. Binance has an appetite for the Indian space with WazirX and Matic, one of the Frontier’s partners.
It is also interesting to mention that Palash Jain CMO did some marketing for IOST, Bitmax, Matic, Lambda. Another connection with Indian Matic and even Bitmax exchange (for possible listing). Connections and speculation. We love them and we hate them but they are part of our beloved crypto space.

Researchers & fundamental analysts (::) Building crypto thirsty Cryp2Gem community. Searching and researching for blockchain future disruptive innovators.