Launching FRONTIER Wallet — Why there is a need of a mobile wallet in DeFi Space ?
His collective thought process on `Banking the Unbanked` where people actually start using cryptocurrencies as financial instruments or a utility instead of just trading or investing, is turning into a reality now.
Fast forward to the present 2019 ; A new term has been coined, Decentralised Finance aka DeFi.
Decentralised finance in its simplest form aims to provide banking services to the users all across the globe. No matter which geography you belong to, you can earn interest, take loans, borrow and lend; all using cryptos lying in your wallet. DeFi space in a span of 2 years, is seeing a lot of traction, with 50+ products and a collective market cap of $673M (at the time of writing) DeFi is exploding.
While data speaks for itself, that the banking on blockchain is increasing but what is also true is that the space has numerous problems.
- Address Fragmentation : With the explosion of smart contract based #DeFi applications, which forces a users to create a new address, users are scratching their head to manage their assets and data. With no choices left at their end, a typical #DeFi user has 3 addresses, one for ER20 tokens in Web3 wallets , second and third for smart wallets instadapp, argent etc.
2. Platform Dependency : The smart contract based applications make users platform dependent, since the contract address associated with the specific application works only for them, this isn’t for any nefarious reasons at their part- it’s how these applications are architected.
3. Private key and Seed Phrases to check balances : Ask any Ethereum user, about existing UX — pain points in wallets, they would say, carrying private keys and seed phrases everywhere; even to check their balances.
- Frontier is a mobile wallet available on both android and iOS , therefore you can carry your bank in your pocket, and check your balances, at your fingertips.
- Second you do not need to provide your private keys to use Frontier.
- Third, Enter all your addresses associated with ERC20 and #DeFi applications, and — Voila — Eureka — Magic.
🥳 Track and view all details associated with your Maker DAO CDPs such as CDP number, Debt,Collateral, Liquidation Price and your Debt/Collateral Ratio.
🤓 Complete overview of asset lending/borrowed from compound.finance with current APR rates of the assets and the live market value of the assets.
😁 Track and view all your Set balances.
😋 Track your dYdX Balances and positions.
🔥 Users using proxy wallets like InstaDApp or Argent can view and track their CDPs and Lending/Borrowing positions.
🌈 Overview of the assets in Uniswap pools associated with your ethereum address.
👁 View all your ERC20 tokens with real time market price.
😏 Get Real Time Notification on all activities associated with your Ethereum address i.e Incoming & Outgoing transaction, Interaction with DeFi protocols etc
😇 Rich DeFi Notifications which includes MakerDAO Anti CDP liquidation alert, Stability fees changes.
😎 Night Mode to give you some cool DeFi feels.
Published at Mon, 18 Nov 2019 19:06:54 +0000
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