COMDEX LAUNCHES THEIR MAINNET ON COSMOS
After several years of relentless hard work and competing series of rigorous testing, which were carried out by over fifty (50) experienced validators on their testnet which can be easily accessed through the following link: https://pr.report/u-9ti2ZR,
Comdex is happy to announce the launch of their Mainnet on Cosmos. Comdex’s Mainnet was launched on Cosmos on the 20th of November, 2021.
Comdex’s aim of unifying Decentralised Finance (DeFi) and Centralised Finance (CeFi) had led to their involvement in the revolutionization that is currently taking place in the world of commodities.
Comdex has shifted its focus from building a sole all in one product to a batch of distributed and interoperable solutions. according to Comdex’s team, these solutions will work seamlessly with each other. Some examples of such solutions include; an enterprise trading platform, synthetics, and ShipFi.
The details of these Comdex’s ecosystem solutions and their respective relevance are shown below:
1. Enterprise Trading Platform:
This solution according to Comdex, is the first step they took towards achieving their goal of democratizing finance because it removed the barrier that users faced when trying to gain access to restricted assets.
It also solves the problems of inefficiency and builds trust among all the players in the world of commodity trade.
Comdex’s enterprise trading platform is built on the Persistence SDK (Software Development Kit) and it promotes the production and exchange of non-fungible tokens (NFTs) that represent actual commodity assets.
This is a major solution offered by Comdex as it allows anyone to make their own synthetic assets and this makes it easier for people who want to invest in decentralized finance (DeFi) to get access to real assets.
For individuals who may be unfamiliar with the concept, a synthetic asset in Comdex is also referred to as cAsset. It is a derivative of a range of financial assets and its value is dependent on underlying assets.
Comdex has announced that the synthetic assets they will be launching with are Silver, Gold, and Crude Oil. Although, Comdex is in talks with other platforms and is making concrete schemes, and is taking the right steps towards enabling price oracles for trading and minting a vaster pair of commodities which will include agri-commodities.
The decentralized synthetics protocol is a major player and it holds the key to achieving Comdex’s aim of democratizing finance.
According to Comdex, this solution is slated to begin in 2022, and this solution is intended to bring about the complete digitization of trade finance debt products.
Comdex’s ‘ShipFi’ is a decentralized application (dApp) in Comdex’s ecosystem which enables the digitization and exchange of actual debt and assets for trusted stable coins such as USDC and BUSD and will also allow investors to effortlessly gain admission to historically safe trade finance debt assets by utilizing their crypto holdings.
In Conclusion, Comdex is of a truth an ecosystem of innovative and lasting solutions all in a bid to democratize finance and build a link between decentralized finance (DeFi) and centralized finance (CeFi).
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