OIN Finance, a decentralized finance gateway, has partnered with Frontier to bring the FRONT token to OINDAO, being the second token to do so. The integration will allow FRONT to be staked into the OINDAO 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. 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: “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. 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.”
Frontier also mentioned in their announcement 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. 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.”
Future development of the OIN Finance ecosystem will see support for leveraged trading and cross-chain staking. OIN Finance aims to become a universal portal for token swapping, leveraged trading, and minting stablecoins through its product lines such as OINSWAP, and the OIN Bond.