Frontier recently unveiled its new and ambitious FUSD Initiative.
This initiative covers in-depth research into the sustainability and viability of leveraging on $FRONT and $FRONT LP tokens as a link into high cap stable assets. It will also involve a rigorous exploration into $FRONT-backed synthetic and stable assets.
Frontier Partners With OIN Finance
In this new initiative, Frontier is partnering with OIN Finance, which means gaining access to OINDAO. This will enable holders of the Frontier Token to stake $FRONT in order to mint $USDF1, a new synthetic asset. This $USDF1 is a fully audited $FRONT collateral-backed token that can be redeemed for different kinds of liquid assets like USDC, DAI, USDT, and also NFTs.
By participating in the research initiative, minters and stakers will be rewarded with $FRONT. Minters will also stand a chance to earn $USDF1 rewards. Eventually, those rewards will be redeemed for other items or can be swapped into other tokens.
$USDF1 Going Live
The team is working towards launching $USDF1 as soon as certain preparations have been put in place. The approximate date for this was Monday, December 21, 2020. At that time, the team would have carried out several preparatory processes like calculating rewards and APY. Not to mention stress testing the system and setting collateralization rates. However, it appears that the new Frontier staking protocol is not up and running yet.
Other processes that should be put in place before the launch include the communication of proper risk and rewards in regards to synthetics. Even as the Frontier USD Initiative with OIN Finance has begun, the team is still working towards other plans to carry out more research on several blockchains. The research will also be aimed at creating a sustainable model that will help small-cap assets like $FRONT to thrive as well as large-cap assets.
Besides, the goals of the initiative are inclusive and agnostic as the team does not believe in “one true chain” or in gatekeepers. For almost two years now, the Frontier team have followed this approach and hope to continue doing so as time progresses.
The Frontier team promises to announce a new exciting plan soon. With this plan, the participants of the FRONT LP will be rewarded in new and interesting ways. The Frontier team believes that 2021 will see the rapid iteration of synthetics and liquid LP tokens, and the team hopes to take part in that conversation.
Before now, Altcoin Buzz covered how to use the Frontier Wallet.
As of the time of writing, Frontier’s price was at $0.277123 with a 24-hour trading volume of $5,260,417. FRONT price also went down by 8% over the last 24 hours. It has a circulating supply of 18.8 million coins and a max supply of 100 million coins. Currently, Huobi Global is the market that is most active in trading FRONT.