Basics about Comdex as an Infrastructural Layer-1 of DeFi Protocols on Cosmos Ecosystem.
Comdex is a decentralized exchange network that aims at bridging the gap between the centralized (physical) and decentralized (crypto) finance systems.
Cosmos is a large digital ecosystem that encompasses a web network of crypto decentralized blockchains that can run regardless of the failure of just a few operators (known as nodes).
Comdex has been made the DeFi infrastructure layer of the Cosmos ecosystem, which means that it can now serve as a middleman for deploying DeFi applications and networks into the Cosmos ecosystem.
The Comdex network has had a growth spurt in the past few months, including:
More than 35,000 wallets were created.
Nearly ten projects are ongoing.
More than 50,000 cAssets users.
Nearly 535K+ transactions were validated and completed.
The Comdex economy is run by various “modules” which help improve the utility of many products within the blockchain.
These modules include asset tokenization, P2P, CDP, and decentralized exchange.
1. Asset Tokenization
This involves the conversion of physical commodities into digital non-fungible token assets, known as synthetic assets (known as cAssets by Comdex members).
2. P2P Module
Also known as Peer-to-Peer, this involves the formation of exchange markets within the Comdex space.
3. CDP Module
Also known as the Collaterized Debt Position, this allows for loans to be created via using assets powered by the InterBlockchain protocol to create what is known as debt assets, which have a monetary value.
4. Decentralized Exchange
This is the introductory module by which the Comdex blockchain runs. It involves the swapping of tokens anywhere within the Comdex community.
The Role of CMDX
On the Comdex blockchain, the key DeFi infrastructure layer of the Cosmos Hub relies on CMDX, its official cryptocurrency token.
Of what use is the CMDX token to the infrastructure layer?
First off, we need to know that the CMDX token is the governance token for Comdex as a whole, meaning that — most times — votes for the deployment of decentralized applications within the blockchain would be carried via your CMDX tokens. Also, the usage of the tokenomic modules has fees attached to users, and you will need to pay in CMDX tokens.
As some of us may know, decentralized applications (dApps for short) are apps that can function independently via the use of smart contracts, and these apps actually work like typical applications but are blockchain-based.
On the Comdex chain, dApps featuring entrepreneurs, loaning, etc, are being developed. Here are some of such:
1. Enterprise Trade
This dApp will, by the time it is totally launched, be used to convert physical assets to synthetic commodities, promote and speed up transactions, settle debts, and keep decentralized finance running.
This crypto-loaning dApp is powered by the InterBlockchain protocol, and its main token — asides from the CMDX — would be its indigenous CMDO token.
The secret behind the speedy growth of the Comdex network is clearly its unique blockchain concepts.
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Comdex is a decentralized synthetics protocol and a product of the Persistence platform.
Comdex develops possible solutions for the decentralization of finance (DeFi) and the democratization of commodities by handing over to investors the knowledge of a widened scope of asset classes and rewarding features.
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