With Frontrunner’s testnet launch imminent, we wanted to take a small step back and quickly talk about the goals of our testnet launch as well as the possibility of a Frontrunner token. At this time, the goals of our testnet are centered around achieving product market fit and we are doing so by focusing our attention on customer experience and fast product iteration.
We are often asked: "When are you all releasing your Frontrunner token?" and "How are you thinking about tokenomics?" We’ve seen many projects release tokens early in their lifecycle only to struggle with user retention due to unintuitive and often unenjoyable user experiences. For years, the standard has often been to release a token now and figure out the product over time, a standard that we believe has historically led to an overemphasis on short term token value rather than actual product development; people seemed to forget that the tokens they were releasing were meant to support something that people wanted to use.
Because of this, we at Frontrunner would rather focus on developing the product to ensure we have a product and protocol worth supporting with a token rather than rushing into a token launch from day one. As such, users on our platform will trade in stablecoins (USDT or USDC) instead of a Frontrunner specific cryptocurrency. We believe that this product and user-focused methodology will reduce pure speculation on early stage blockchain projects and create more sustainable long-term value. While a token launch likely exists somewhere in the future for us, it will come once we have shown that there is demand and functional utility.
With all of this in mind, we enter our testnet launch with a mindset focused on learning from our customers and iterating on our product. We are very excited to be at the forefront of decentralized sports betting and prediction markets and look forward to building the next generation of sports engagement! If you are interested in being one of the first to test out our product, please sign up for our waitlist today.
Frontrunner is a decentralized sports prediction market where users can buy shares of sports propositions and trade them like they would stocks. Unlike traditional sportsbooks where users place a bet and wait, Frontrunner gives users full control over their portfolios, allowing them to dynamically buy and sell positions as the odds change. By leveraging the power of free markets and the blockchain, we create transparent markets and liquid positions to reduce counterparty risk and fundamentally change the way that people invest in their sports knowledge and beliefs.