It’s no news that Comdex Mainnet is set to launch after the announcement of its airdrop for ATOM, XPRT & LUNA stakers/holders on the cosmos ecosystem.
Check here for eligibility: https://airdrop.comdex.one/
Comdex built on the Persistence SDK is focused on synthetic assets, synthetic exchanges, lending and tokenization of real world assets. For now, it’s main focus is synthetic assets, let’s delve a little bit in understanding what it is.
What are synthetic assets?
Synthetic assets in the blockchain ecosystem are termed assets having same value as another assets. Now let’s keep it simple, it’s more like an assets given to users without needing to hold the asset. It could be money, any type of products, digital assets, stocks, commodities or bonds.
Comdex being a fully interoperable protocol offers it’s users better decentralization in the derivation of a wide range of financial asset. It also provides users with an Automated Market Maker which powers synthetic assets on decentralized Exchanges(DEX).
Comdex offers users access to use assets as collateral to create synthetic assets. It’s users as access to finance through collateralized debt.
So let’s say for example, a user wanted to buy $1000 worth of $CMDX, $1000 Of it’s users assets either in BTC, ETH or any asset would be pegged to the price of the $CMDX asset. So if $CMDX goes up or price fluctuate, the equivalent amount will be added or subtracted from the users contract.
Comdex is bridging the gap between Decentralized Finance (DeFi) and Centralized Finance (CeFi). This brought about using its ecosystem — ShipFi to aid in better exchange of collateralized debt or assets for highly trusted stable coins.
Comdex Utility Token — $CMDX
With Comdex, there’s a native token — $CMDX powering the network. $CMDX would perform very much well in a lot of roles.
This token would serve as fees and also help in participating in staking pools where users would have to delegate tokens.
It would also serve as a collaterized token which can be used to trade synthetic assets — cAssets and also to maintain stability of cAssets on the Comdex ecosystem.
$CMDX would also serve as rewards to stakers and liquidity providers on the Comdex network.
Comdex’s synthetics protocol unlocks access to a vast set of commodity debt assets and liquidity, making the flow of capital from DeFi to CeFi seamless.
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