Start Trading & Farming on Comdex’s IBC Hybrid DEX — cSwap.
Did you know that the mainnet of the cSwap decentralized exchange has been launched, as of November 26th, 2022?
The idea of a decentralized exchange was long conceptualized by Comdex. By the beginning of the year, a roadmap was laid out and cSwap DEX was a major part of the building process. Finally, this was launched in the last quarter of 2022.
What is cSwap DEX?
cSwap DEX is a product of Comdex built to bring in more liquidity to Comdex and provide a smart interchain trading experience.
cSwap is a fast-growing, interoperable, and sustainable InterBlockchain (IBC) decentralized exchange building on the Comdex chain, which is all based on the Cosmos ecosystem.
This hybrid DEX integrates both Orderbook style to become the principal liquidity source for the Comdex ecosystem and AMM liquidity pools to bring cross-chain markets and limit orders to DeFi, where traders and arbitrageurs can implement sophisticated trading strategies to trade their assets.
By integrating both architectures, cSwap will be having more pooling usability, liquidity, security, and functionality within a singular interface.
Whilst the AMM interface works by swapping one asset in the liquidity pool for its correspondent, cSwap allows order book functionalities, like limit orders, where users attempt to purchase or sell an asset at the best possible price, rather than at a set threshold offered by the exchange.
cSwap is live on Mainnet and you can access it here: https://app.cswap.one/
The Segmentation of the cSwap DEX App
When you get into cSwap, you will come across different sections. These sections are different functions of the DEX that you can actively take part in. Let’s navigate through them.
1. Trade
This is where you can trade/swap interchain assets listed on the DEX.
On the Trade Dashboard, you will find “Limit Order” at the top left with a control button. You can trade with or without Limit Order by switching it on or off. By default, the button is on “off” until you switch it to “on”.
Without Limit Order: At the top, you have the asset you wish to swap (choise the asset & input amount) and below, you have the asset you want to swap to (choose the asset).
With Limit Order, you have 3 segments: At the top, there is the asset you want to swap (choose the asset and input amount). At the bottom, there is the asset you want to swap to (choose the asset). In the middle, there is the price at which you want to sell which is higher than the pool price (input price).
2. Assets
This section shows all the assets listed on cSwap DEX. It shows the number of tokens you have per asset (when you connect your wallet), the current price of the asset, and the total amount of these assets you have which is “no. of tokens × current price”, then there is the “Deposit” and “Withdraw” tab.
Currently, the cryptocurrencies listed include:
- $CMDX
- $CMST
- $HARBOR
- $ATOM
- $OSMO
- USDC
- $JUNO
- WETH
- WBTC
- stATOM
3. Farm
This is the liquidity pool of the DEX where users stake their assets for rewards.
cSwap employs the use of Meta Pools are used to provide adequate and consistent liquidity in cSwap.
Meta Pools are made up of 2 pools — a Master Pool and a Child Pool.
The first line of entry for staking is Master Pool and the second line, is the Child Pool.
For easier understanding, how does this work?
The Master Pool is the initial entry where liquidity providers can earn both external and internal incentives and in Child Pools, stakers only earn internal incentives.
Providing liquidity to the Master Pool is a requirement for earning internal incentives and incentives are directly proportional to the liquidity provided in Master Pool.
There is a $CMDX/$ATOM master pool, the incentives given in $CMDX would require liquidity providers to provide liquidity in Master Pool.
Providing liquidity to Master Pool would create a net neutral effect where the $CMDX incentives go to the liquidity providers who are long-term project supporters. So cSwap’s liquidity staking rewards system offers long-term efficiency and sustainability.
Users are made to commit to the contribution of the maximum value for a long term to the protocol which earns them more rewards and incentives and this waives off the mercenary capital incentivization program that other DEXes apply.
If you go to the Farm section, there are 1 Master Pool and 11 Child Pools.
Master Pool: $CMDX/$ATOM
Child Pools: $CMDX/$CMST, $CMDX/$OSMO, $CMDX/USDC, $CMDX/$JUNO, $CMDX/WETH, $CMDX/WBTC, $CMDX/stATOM, $CMST/$ATOM, $CMST/$OSMO, $CMST/$JUNO, $CMST/stATOM.
However, you can create your own pools.
To provide liquidity to either Master Pool or Child Pools, click on them, and in the new tab opened, select the amount of each asset you want to provide and complete the process by approving in your Keplr wallet.
4. Govern
This is the DAO section of cSwap. Here, Governance Proposals especially for cSwap are listed showing if they are passed or rejected.
If any proposal is live, it is indicated and the $CMDX holder can seamlessly vote on it.
To view the details of the proposal, click on the proposal and the full details will open in a new tab.
5. Portfolio
Connect your Keplr wallet and you will see your IBC assets and portfolio in this section. This would include your staked assets and rewards.
cSwap is fast becoming the go-to decentralized exchange for Cosmos with more IBC assets listed at every chance they have.
Join in and start managing and staking your IBC assets now: https://app.cswap.one/
About Comdex
Comdex is a decentralized network, featuring various plug-and-play customizable core modules for delivering leading dApps within the Cosmos ecosystem.
The network serves as the infrastructure layer of this ecosystem, using its interblockchain system to allow the building of interoperable solutions. Comdex likewise provides users with these solutions, and lots of unique features you would surely like to utilize.
For more insights, follow the Comdex network via the following links.
