DeFi Platform OIN Finance Introduces Frontier’s FRONT Token To OINDAO

Announcements, News | December 28, 2020 By:

Decentralized finance gateway OIN Finance has teamed with Frontier to bring the FRONT token to cross-chain layer 2 platform OINDAO.

OIN is a cross-chain layer 2 infrastructure that opens the door for all the blockchain assets to leverage the growing DeFi space. Starting with OINDAO, users can leverage their assets to create their own stablecoin, allowing new use cases and methods of incentive distributions. With products such as OINSWAP and OIN Bond in the works, the suite of products will empower those outside the DeFi space with DeFi features.

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 decentralized key management blockchain based on Cosmos SDK.

The integration will allow Frontier FRONT token to be staked into the OINDAO platform and used to mint stablecoins alongside OIN and STPT for DeFi applications.

“Bringing Frontier’s native token to OIN Finance means it can be used as collateral on the OINDAO platform,” the release stated. “Users who stake FRONT tokens can use their collateralized assets to issue USDF stablecoins, unlocking and leveraging the value in their original tokens while retaining ownership of them. With the minted USDF1, users will eventually be able to redeem for a variety of other liquid assets like DAI, USDC, USDT, and even NFTs, with the OINDAO dashboard enabling positions to be monitored and adjusted in real-time.”

OIN Finance Co-Founder Richie Li said that Frontier is on a mission to make DeFi easier to interact with, by aggregating popular protocols.

“We at OIN are on a mission to bring DeFi functionality to the crypto community as a whole,” Li said. “As the number of projects on OINDAO expands, so too will the list of connected defi features. We are excited to see the synergies here develop, and look forward to the growth of both our platforms.”

In their announcement, Frontier said that “OINDAO is the first decentralized stablecoin issuance platform that also caters to the small cap assets.

“Different from Maker DAO, OINDAO empowers projects like Frontier to issue their own stable assets,” Frontier said. Instead of just copying and forking the current model, the OIN Finance team is aiming to bring value and what’s missing in the current DeFi space to make DeFi more mature.”