$CMST and Commodo Finance: Comdex to Partner with InjectiveLabs
The Cosmos ecosystem has grown significantly over the past year, driven by a robust developer community, and is currently expanding more layers to its existing powerful DeFi infrastructure, which includes numerous fascinating initiatives.
The key to Cosmos’ success is that its creators are working together and complementing one another rather than engaging in the brutal rivalry that has come to define other chains. As an innovator, you will be surrounded by encouraging peers while advancing in the Cosmos ecosystem, provided that your idea is worthwhile and you have the skill and passion to carry it through.
Comdex is a DeFi infrastructure layer for the Cosmos ecosystem and is currently developing a fully collateralized stablecoin. It offers a range of easy-to-use interoperable modules allowing projects to build their own DeFi systems, benefiting the Cosmos community and DeFi users throughout the world.
These solutions include synthetics, which gives users the ability to create synthetic assets, empowering investors by removing the hassle of gaining access to real-life assets, and a solid enterprise trading platform, which offers a long-term solution to the issues related to trust and efficiency in trading.
The objective of Comdex is to develop a DeFi product ecosystem that aids in bringing sustainable yields to the multi-chain.
Comdex has recently declared its intentions to partner with an open interoperable smart contracts platform optimized for decentralized finance applications — Injective.
Injective is a layer-2 decentralized exchange that provides derivatives, token swaps, and prediction markets for sports betting. Injective emphasizes interoperability through cross-chain bridging and now supports digital assets from chains including Cosmos, Polkadot, and Ethereum.
With prospective Comdex ecosystem products like the $CMST stablecoin and the Comdex borrowing and lending platform — Commodo, Comdex is eager to work with the larger Injective ecosystem. Additionally, Comdex is investigating the possibility of displaying $CMDX and $CMST on exchange dApps based on Injective DEX.
What is $CMST?
$CMST (Composite) Is a stablecoin that is soft pegged to $1 to serve as a stable measure of buying power. Nevertheless, according to the Comdex team, if the global macro landscape changes, this may alter in the future.
Comdex plans to implement $CMST for use in settlements of commodities trades by integrating it into the payment settlements layer on the enterprise trading app. The asset tokenization module from Comdex is also used by the enterprise trading app, allowing NFTs to be created to represent actual assets.
$CMST may be created without a license as a loan against over-collateralized CDPs. It was primarily inspired by the solid and trustworthy model created by MakerDao. By using assets from the Cosmos ecosystem as collateral for $1, users may create $CMST. Through a mint/burn-based process, $HARBOR, the governance token for $CMST, will act as a safety net for the $CMST peg.
To find out more about $CMST check out this blog post
About Commodo
Commodo is a platform for collateralized borrowing and lending developed on the Comdex Chain.
Commodo was developed to deal with some of the issues that lending and borrowing DeFi systems typically face, including the dispersed liquidity of several independent pools and the security flaws in shared pools. Commodo offers the concept of separated funds to accomplish this.
The platform allows depositors to lend digital assets and receive interest payments. Also, borrowers will be able to borrow whitelisted assets by preserving their loaned assets as collateral, subject to dynamic interest rates. It is significant to remember that the costs associated with the platform’s assets depend on their intended usage.
Due to the platform’s decentralized nature, users won’t have to haggle with peers or counterparties over parameters like duration, interest rate, or collateral. Instead, all requirements will be dealt with directly by the modules of the Commodo platform.
To find out more about Commodo check out the following links:
Proposed Partnership
Comdex seeks to offer a variety of chances to expand the $INJ token’s use while assisting the Injective community in interacting with new assets on dApps, delving further into DeFi, and maximizing their rewards.
Comdex is willing to:
Include $INJ as one of the collateral assets to mint the $CMST stablecoin on the Harbor protocol.
List and authorize lending and borrowing of $INJ on the Commodo platform.
listing $INJ on cSwap AMM and inaugurating a $INJ/$CMST pool to boost the liquidity depth of $INJ’s
Comdex is requesting that the injective community take the following into account:
Listing the $CMDX token in the dApps on the Injective exchange
Use the $CMST stablecoin as the $CMDX token’s quote asset.
Including $CMST as a quotation asset pair for further spot and perpetual markets as usage of the $CMST stablecoin grows.
Furthermore, Comdex is also interested in investigating and working with Injective on more potential for further development. Keep up with all the recent news and development in the Comdex ecosystem via the following links:
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