Dec 31, 2021
Comdex an entry into a new era..
These past few days, Comdex has certainly made a splash.
$CMDX has risen 22 percent in the last 3 weeks, from the mid $1.90s to $3.40 . Their planned platform is extremely valuable, as it is the first to bring commodities trading to the decentralized market; it also has the potential to bring hundreds of millions (if not billions) of cash into the Cosmos ecosystem and the crypto economy as a whole.
The Cosmos ecosystem has evolved significantly
The Comdex ecosystem of solutions, which is built on the Cosmos Ecosystem’s key fundamentals of interoperability, can operate together to aggregate liquidity from various DeFi ecosystems and facilitate the flow into CeFi (centralized finance). Synthetic assets are the backbone of the Comdex idea, and they work by bridging the gap between other crypto ecosystems and financial instrument markets.so there’s a lot of room to connect the two worlds of finance.
Before embarking on the job of launching their network, the Comdex team must have given much thought to their purpose.
Let’s take a look at synthetic assets before we get into Comdex more deeply. How do synthetics function and what are they? Tokenized derivatives are the essence of synthetic assets. Derivatives are stock or bond representations that a trader does not own but wants to buy or sell in the traditional financial market. A derivative, in simple terms, allows you to profit from price variations in a stock that you do not own. Synthetic assets, also known as tokenized derivatives, take this approach a step further by recording the derivative on the blockchain and producing a digital asset token for it.
Synthetics on Comdex are tokenized derivatives that provide collateralized debt to provide exposure to the price movement of real-world assets. Synthetics can be used to provide liquidity, borrow money, and speculate on a wide range of assets. As a result, synthetic assets are crucial to the goal of financial democratization.
Comdex is focusing on commodities, and their goal is to provide a fully interoperable synthetics protocol that will be the foundation for their planned synthetics AMM. For cryptocurrency enthusiasts, this will open up a whole new world of possibilities and speculative trading. Bringing commodities trading to crypto is, in my opinion, a huge event, as it may possibly open the floodgates for ordinary traders operating on current global markets.
cSwap & cAssets
The upcoming trading platform for Comdex, known as cSwap, will enable traders to swap between cAssets — synthetic commodity assets and debt instruments.
While various synthetic trading protocols exist, Comdex intends to connect DeFi and CeFi capital movements. By minting cAssets through collateralization of current Cosmos ecosystem tokens, investors can gain exposure to trade finance debt. These include tokens like as ATOM, XPRT, AKT, CMDX, and OSMO, as well as a slew of others emerging in the cosmosphere.
Fellow Cosmonauts can lock up their Cosmos assets and mint cAssets, which will allow them to trade on the cSwap exchange.
Currently, hodlers of $CMDX are yielding healthy returns by staking
If you use Osmosis, you can make much more money right now by supplying liquidity through LP farming. As of right now, the CMDX/OSMO (50/50) pool is providing as much as 183.07 percent APR in OSMO rewards — and that’s before you include in the bonus incentive awards won in Comdex, which endure for another 79 epochs (days). When you rebond your earnings on a daily basis to compound your income, you’ll end up with a considerably greater APY, especially when you include in those juicy $CMDX bonuses.
liquidity pools on Osmosis DEX
The team’s post on CMDX Tokenomics and usefulness provides some excellent insight into the project’s future plans as well as the advantages of holding CMDX. I appreciate that, in addition to staking and governance, the token has a mint and burn model, and will be used as collateral to mint and trade synthetic commodities on the platform (together with other Cosmos eco-system tokens).
CMDX serves five important functions in the Comdex ecosystem:
- As the chain’s native token, CMDX drives the network’s staking economy. Transaction fees and CMDX staking contribute to the network’s security.
- Users of the Comdex synthetics app can utilize their CMDX holdings to generate and trade synthetic cAssets on the exchange.
- Liquidity providers and other network players who execute important duties will be rewarded with CMDX tokens.
- CMDX holders can participate in the protocol’s governance. Holders of CMDX have a say in important protocol issues such as the whitelisting of synthetics and collaterals that can be used on the platform.
- To preserve the solvency of the network’s net debt, CMDX tokens will be created and burned to maintain the network’s cAssets’ stability.
AIRDROP
For those who are unaware, the Comdex team launched an airdrop shortly after the introduction of their LBP a few weeks ago. The airdrop is presently available to stakers of LUNA, ATOM, XPRT, and OSMO, and it may be claimed in three ways. To check your stake and start your claim, go to their airdrop landing page (https://airdrop.comdex.one).
Note that the Comdex stakedrop differs from most other airdrops / stakedrops in that 20% of your total claim is released within 2–8 hours of your first claim. The remaining 80% is then distributed over the next 12 months, with 20% given automatically every three months.
My claim was worth about 111 $CMDX, for example. I was sent 22 $CMDX tokens to my Comdex wallet after completing their simple claim process (I used Keplr). I’ll get another 22 $CMDX in three months, and then another three times until the entire balance of my first claim is paid out.
While some may object to this manner of distribution, I don’t mind it. It’s a fantastic strategy to keep individuals from dumping on the market, allowing it to develop and thrive!
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