We are excited to announce that Frontier has entered into a strategic partnership with DefiDollar, A Stablecoin Index protocol to introduce Native DeFiDollar Suite integration which includes DeFi Dollar Savings, DFD Vault in Frontier DeFi interface and a joint liquidity mining program featuring FRONT/DUSD pool UniSwap 15,000 $DFD + 25,000 $FRONT rewards per week for three months.
🤔 How to participate in the Liquidity Mining Program?
Step #1: Get $FRONT and $DUSD
Users can purchase $FRONT on both CEXs and DEX's. Check out Frontier's CoinGecko page to see list of exchanges and markets
$DUSD can be either minted or bought from Dex's such as UniSwap, Balancer, and SusiSwap. Check out DefiDollar's CoinGecko page to see the list of exchanges and markets.
Note: We would suggest users to get $DUSD using Curve as gas fees are expensive on Ethereum Link to Curve: https://www.curve.fi/dusd/ and exchange major stablecoins for DUSD
Users can also use the below steps to mint $DUSD but may result in spending lot of Eth on gas fess.
- Visit the DefiDollar App
Currently you can use either of DAI, USDC, USDT, TUSD or a combination of those tomint DUSD. In case you want to mint using multiple assets click on “Add more tokens”. You can also use yCRV & yUSD directly to mint DUSD. This operation is also very gas efficient and doesn’t incur a fee.
Input the amount of DUSD you want to mint and click Mint.
a) Depending on the number of assets used as input, you have to sign approval requests. i.e if using only USDT — one request to approve USDT.
b) Post granting approvals approve the minting transaction.
Upon the transaction getting mined on-chain the DUSD balance will be reflected in your wallet and on the web-app.
Step #2: Provide Liquidity into FRONT/DFD Pool
After obtaining $FRONT and $DUSD head to UniSwap and provide liquidity into FRONT/DUSD Pool.
FRONT/DUSD UniSwap pool link: https://app.uniswap.org/#/add/0xf8C3527CC04340b208C854E985240c02F7B7793f/0x5BC25f649fc4e26069dDF4cF4010F9f706c23831
Enter the amount and the pool will automatically balance it in 50:50 ratio. Click on "Approve FRONT" and "Approve DUSD" and then once the transaction is confirmed click on "Supply"
If you have already approved any of the assets you can directly provide liquidity by clicking on "Supply"
Click "Confirm Supply" -> Sign the transaction -> You have successfully provided the liquidity in FRONT/DUSD pool.
Step #3: Stake LP tokens to earn $FRONT + $DFD rewards
- Visit DefiDollar App
Click on the box which says "UniSwap DUSD/FRONT"
Enter the amount of LP tokens you wish to stake, you can also click on "Max" to stake 100% of LP tokens and click "Stake" -> sign allowance transaction -> confirm -> confirm the transaction to deposit the LP tokens to staking contract -> transaction successful.
You have successfully staked FRONT/DUSD LP tokens and earning $FRONT + $DFD
🚜 Happy farming!
DefiDollar ($DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It aims to provide a safe and stable way for users to hold their assets. $DUSD is a stablecoin optimized for peg safety, yield and diversification. The basket approach diversifies the risk, allows more types of collateral to be onboarded and allows integration with yield generating DeFi primitives.
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.