WazirX, one of the largest cryptocurrency exchanges in India, has earned a reputation for being the safest and most cost-effective platform to buy and sell a lot of the popular cryptocurrencies – including, of course, Bitcoin, Ethereum, Ripple, and Litecoin. In fact, it hosted well over 100 cryptocurrencies listed the last time we checked and also recently announced crypto dust conversion. This week, there’s another one being added to the exchange’s roster – Frontier (FRONT) on Monday, December 7.
Crypto traders love having a range of options at their disposal, so listing FRONT could prove to be a game changer for the WazirX platform, as well as for crypto trading in India in general. Why, you ask? First, we dissect the basics.
So, What is the FRONT Token?
Frontier is a chain-agnostic Decentralized Finance (DeFi) aggregation platform where users can participate in protocol tracking and management, staking, token swaps, liquidity provision, CDP (Collateralized Debt Position) creation and monitoring, and more. $FRONT is the native token of the Frontier platform; it was developed with the objective to incentivize the entry in DeFi (decentralized finance), especially for the traders and investors unable to participate because of the quite high costs.
Frontier has designed $FRONT for immediate, mid-term, and long-term value capture. The $FRONT smart contract contains the Centralization of Power (COP); Quantstamp and CertiK, two of the leading organizations in blockchain security and infrastructure, audited the smart contracts for $FRONT. As of September 11, 2020, $FRONT has a CertiK Very High Confidence security level, and is Quantstamp verified.
Utilities of the FRONT Token:
Here are the highest impact value capture utilities $FRONT offers so far:
- Staking on the Frontier Chain: The Frontier chain, a decentralized key management chain, will be secured by the staking of the $FRONT token.
- Governance: The Frontier platform will come up with a model for the $gFRONT, the governance token that can be used to vote on the Frontier Chain and would allow holders to put in their two cents regarding the model for decentralized governance on Frontier.
- Liquidity Provision: The $FRONT token is to be used to provide liquidity to various decentralized protocols and platforms. Holders will also be able to provide liquidity to pools using $FRONT and generate yield.
- Gasless Transactions: The $FRONT token will subsidize gas fees on all the transactions made within the suite of Frontier applications. Locking $FRONT in the Frontier Vault will make a holder eligible for access to free or near-free transactions.
- The Frontier Incentivization Protocol: The Frontier suite of applications will have a new incentivization layer where users can gain eligibility for rewards in the form of $FRONT tokens, based on how much native app activity they perform.
- NFT Acquisition & Creation: Frontier will provide content creators, blockchain entrepreneurs, and industry leaders with the opportunity to acquire and issue non-fungible tokens natively. The $FRONT token is slated to be the preferred form of payment for the issuance, transfer, and destruction of tokens.
- Deflation Via Integration: A portion of proceeds from grant and fee-based B2B (business-to-business) integrations will be collected via the $FRONT tokens; the more integrations released by the Frontier platform, the stronger the value accrual would be for $FRONT.
Aside from these ones, there will be more utilities for the $FRONT token created as Frontier grows. A few currently in works include discounted CeFi (centralized finance) on ramping, $FRONT collateralized borrowing, social gamification, and unifront API access and unlocks.
Frontier Listing Schedule on WazirX:
Frontier (FRONT) is listing on WazirX on Monday, December 7. Traders will be able to buy, sell, and trade FRONT in the WairX USDT market from then on. Asset movement will be unrestricted – you will be able to deposit FRONT from another wallet to WazirX, and you will be able to withdraw FRONT from your WazirX wallet.
In addition to this, WazirX will also be running a giveaway. To find out about that in detail, read on!
The WazirX Frontier Giveaway
WazirX will be doing a series of competitions, quizzes, and giveaways from the December 8 to 14 after FRONT gets listed on Monday. Here’s the giveaway schedule, and everything you need to know to participate:
- Tuesday, December 8: An AMA with Palash Jain, CMO at Frontier
The live AMA, which will start at 5 PM IST, would give you the opportunity to learn everything about $FRONT, in addition to winning total prizes worth up to $150. To join the AMA, visit this link: http://t.me/wazirx_discuss
In the livestream, Palash will first answer 10 questions (crowdsourced from WazirX’s Twitter followers) about FRONT. Then the group will be unmuted for 10 minutes, where you can ask your questions directly to Palash, and he will be answering as many as possible.
As for the giveaway, $100 worth FRONT will be given to the followers who would ask the top 10 questions selected from Twitter, and $50 worth FRONT will be given away to those who ask the top 5 live questions in the Telegram group.
- Wednesday, December 9 to Thursday, December 10: 36-hour long Highest Trader Kaun Marathon
The Highest Trader Kaun Marathon will begin on Wednesday, December 9, at 9 AM IST and will continue until Thursday, December 10, 9 PM IST, with $FRONT worth INR 8,75,000 ($11,350) offered as prizes. You can participate in the contest any time between Wednesday and Thursday. You will win prizes according to your trading performance for the duration of the marathon; the highest trader stands to win FRONT tokens worth INR 1,75,000. You have to trade at least a minimum volume of 203 FRONT (worth INR 5,000) to qualify to win prizes.
To find out more about the contest, visit the WazirX website here
- Friday, December 11: FRONT Trivia Contest
A trivia contest will be held on the WazirX Instagram page at 12 PM IST. You can win prizes for every right answer up to $30.
To participate, follow WazirX on Instagram. The WazirX team will ask 3 questions on their Instagram Stories, each at an interval of 3 mins, and you’d be required to pick the right answer. For every question, one winner will be awarded 31.48 FRONT.
- Friday, December 11: Quiz Time with WazirX
Also, on the same day, WazirX will host a quiz session about FRONT at 6 PM IST. To participate, you’d have to join the WazirX Telegram group; there’s FRONT worth $500 to be won. There will be 10 questions in total, the first placeholder gets FRONT worth $100, the second to fifth prizes are $50 worth FRONT each, the sixth to tenth prizes are FRONT worth $20 each, and finally, the eleventh to twentieth placeholders will get $10 worth FRONT each.
- Monday, December 14: FRONT Airdrop
Finally, this one’s only for the traders who hold WRX tokens. FRONT worth $5,000 will be airdropped to the top 500 WRX holders.