The Comdex Synthetics DEX: What We Are Expecting
Comdex is a decentralized synthetics protocol developed in the Persistence ecosystem, running on the Cosmos blockchain.
The platform provides improvements to the world of decentralized finance and enlightens many on how to participate in crypto projects that accrue benefits.
Ever since its launch, the Comdex network has been developing upon the fusing together of Centralized Finance (CeFi) and Decentralized Finance (DeFi). Being a user on Comdex makes you able to stake tokens and trade them as fungible assets.
With Comdex, you can create a type of bond called a debt asset, where you can invest in the Owings of others. You can also duplicate values of assets gotten by you.
Although the platform was launched last year, the team has been working towards bringing all of its features and products into one shelf for easy and seamless access. And alas! The time is near for the launch of the Comdex Synthetics Decentralized Exchange (DEX).
But before we delve into the Comdex Synthetics DEX, let’s find out the key features of the platform.
The CMDX Token
CMDX is the official native token issued by Comdex, for the basic utilities in its ecosystem.
As a CMDX holder, you take part in 3 major roles in the ecosystem:
1. Governance; meaning you, along with other CMDX owners, can contribute to making essential decisions for the future of Comdex.
2. Liquidity; you are a liquidity pool provider by participating in Comdex’s LPs and other activities that improves the project’s liquidity. By doing this, you are entitled to rewards.
3. Staking; Staking CMDX to accrue more yields. Staking on Comdex will guarantee you up to 50% APR per year. Staking secures the future transactions you carry on Comdex.
Operations on Comdex
1. Circulation of Synthetic Assets
This is another unique feature of the Comdex network. You are able to own what is known as synthetic assets, which are commodities brought on-chain and tokenized with stable coins for liquidity.
You can mint and stake your synthetic assets on-chain, as well as trade them as cAssets on Comdex via cSwap.
2. Trading On Comdex
With cSwap, the trading enterprise of the Comdex community, you can freely trade and stake debt assets and tokenized commodities to gain yields.
3. Liquidity Pooling on Comdex
Via Comdex’s liquid bootstrapping pools, Comdex aims at preventing the monopoly of large holders acquiring CMDX to themselves and gives everyone (no matter how small your investment maybe) the right to fair and affordable pricing and great yields.
Comdex Decentralized Synthetics Exchange — Coming Soon!
The Comdex Synthetics DEX will first be launched on the Comdex Development Network (Devnet or Testnet) for testing by users before it launches on the Mainnet.
Let’s look at both phases of launch and what Comdex has to offer through them.
1. Incentivized DEX Testnet
This is the testing phase of the Synthetics DEX and as stated Comdex plans to incentivize this phase. Users who participate in the Testnet will gain rewards as they engage in using the platform.
In this phase, every member of the Comdex community can contribute freely and positively to the testing and development process to better the functionality and usability of the DEX.
Throughout the Testnet test run, Comdex assures that there will be high-quality content to educate their users and maximize their experience in using the DEX.
2. Mainnet DEX Launch
This phase is scheduled to kick off in the second quarter of 2022 after the Testnet has been tested, corrections (if any) made, and the DEX has been approved by validators to launch.
The fully operational DEX will allow users to engage in the following:
- Diversification of their holdings using synthetic assets on-chain.
- Provision of liquidity to LPs using CMDX, synthetic assets (cAssets).
- Holding of Collateralized Debt Positions (CDP) to gain exposure to real-time asset price movements while still gaining yields, etc.
More features will be added if they arise as time goes by.
The potential of the Comdex Synthetics DEX is so far-reaching and widespread and has piqued the interest of many people and influencers in the crypto industry.
A lot of people are waiting to dive in and join in revolutionalizing commodities trading and the Blockchain industry as a whole. And this means that the project will experience a massive shift upward with the launch.
If you ain’t filling in your purses right now, this is the right time to do so. Fill the up with CMDX tokens before it goes off to the moon.
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