Comdex: The Journey in One Year

Introduction

It is commonly said, "A journey of a thousand miles begins with a single step."
For Comdex, that single step began with launching the protocol on Cosmos. This step was taken to help them achieve the vision which was set when they started in 2018 - to create a product that would increase accessibility to financial services globally.

  • The infancy of Cosmos
  • A decrease in retail interest,
  • No significant institutional adoption, etc.
  • ShipFi: this application focuses on bringing trade finance debt and receivable assets on-chain to obtain liquidity. It was slated to be launched in 2022, and is still in the pipeline.
  • Synthetics: Enables the creation of synthetics so that DeFi investors may get exposure to real-world assets.

The Mainnet Launch

Comdex launched on the 21st of November 2021 with an initial set of 64 validators. The Comdex Mainnet went live with a 100,000,000 CMDX genesis supply. As at the launch of $CMDX, 12.5% of the genesis supply (12,500,000 CMDX) was in circulation. To allow participants acquire CMDX at a price that was favorable for them, Comdex held their LBP (Liquidity Bootstrapping Pool) on December 3rd, 2021.

Mainnet Upgrade:

There was a proposal (#3) to upgrade the Comdex Mainnet. Voting began on the 2nd of March 2022, and ended the next day. The proposal passed with 99.99% voting in favour of the Mainnet. The upgrade included the following:

  • Tendermint upgrade v34.15
  • Cosmos SDK upgrade 45.1
  • IBC upgrade v2.0.2

$CMDX Token

The native utility token of the Comdex chain is $CMDX. It serves a number of purposes, like:

  • Governance
  • Staking
  • Rewards collection, etc

Partnership

It is often said that if you want to walk far, you should walk together.
Comdex did not come this far by being alone. It gave support to other protocols, and also enjoyed the support of others.
Partnering with other protocols brought numerous benefits to the Comdex community, such as staking opportunities, liquidity providing, security, portfolio management, etc.
Some of those partners include:

  • Axelar Network: This delivers secure cross-chain communication for Web3. Their infrastructure enables dApp users to interact easily with any asset or application, on any chain.
  • OKCNetwork: OKC is compatible with EVM and IBC. It is a L1 blockchain network built on Cosmos that aims for optimal interoperability and performance.
  • Gravity Bridge: This is an open and decentralized bridge that unlocks the power of interoperability and liquidity between blockchain ecosystems.
  • Kujira, etc.

DApps

Comdex has been building a number of applications to offer amazing services to its community. Some of these applications are live, some are in the Devnet stage, while some are in the Testnet stage. They include:

  • cAsset: This is a decentralized synthetics app that facilitates the creation of synthetics assets by collateralizing crypto assets. It is in the Devnet stage.
  • Commodo - This is a decentralized, IBC-native, collateralized lending-borrowing protocol. Commodo is still in the testnet stage. You can test it here. You can also find a walkthrough guide here.
  • CSwap - This is a hybrid DEX with AMM and traditional Orderbook mechanism to facilitate swapping and LPing of crypto assets. It is an orderbook-style interchain DEX built on Comdex. It has gone LIVE, and can be accessed through this link. A walkthrough guide is also provided here.
  • Harbor - As Comdex continues to work towards launching the Composite $CMST stablecoin, the importance of Harbor Protocol cannot be overemphasised. Harbor provides the platform for the minting of the stablecoin. Users can deposit safelisted assets and mint $CMST against them. Harbor is LIVE, and can be accessed here. You can also use the walkthrough guide here.
  • 1M+ Transactions
  • 11k+ Telegram community members
  • 3+ Projects building on chain
  • 38k+ Discord Community

About Comdex

Comdex develops possible solutions for the decentralization of finance (DeFi) and the democratization of commodities by handing investors the knowledge of a widened scope of asset classes with rewarding features.

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Precious

Content Creator || Blockchain Ambassador || Public Speaker || Community Management. Reach out to me: ekerekepreciousimeh@gmail.com