Comdex Remains the Infrastructure Layer of Decentralized Finance for Cosmos’s Ecosystem
As a promising upcoming competition for the well renowned Ethereum ecosystem, the Cosmos ecosystem comprises of DeFi (decentralized finance) powered solutions which work independently, to achieve various aims and objectives.
This year, the Comdex network has been inaugurated as the foundation builder of the ecosystem’s decentralized finance, as Cosmos gets on higher grounds and spreads frontiers.
Well, Comdex has always had it in mind, as most of us know, to bring up solutions against challenges faced by the traditional finance we know today, by bringing some major changes to the industry of trading assets, in the real and crypto world (which is most especially the latter, to be precise).
Seizing the opportunity to be Cosmos’s deFi foundation builder, Comdex would be able to push its intentions while creating and giving entrance to the decentralized applications (dApps), into the ecosystem.
Comdex actually hopes to help its users diversify their assets and earnings, while providing interoperability for partnering projects to build their decentralized finance infrastructure and add advantageousness to the Cosmos ecosystem and DeFi users round the globe. These hopes are now a mere possibility as the Comdex network boasts of more than 500K transactions.
Over 35K+ crypto wallets are owned by users, as more than five projects are being developed by the network, and more than 50,000 users have been recorded… ever since the synthetics exchange tab was opened in April, 2022, on the devnet.
While utilizing its sustainable decentralized finance infrastructure, Comdex has been constantly expanding its influence across blockchains, while putting up a focus on its parent Cosmos ecosystem, to make use of its InterBlockchain protocol. In the process of using the IBC protocol, Comdex network (as the DeFi layer for Cosmos) improves its infrastructure as projects from other blockchains build on it.
There are much more reasons why the Comdex network still remains the DeFi infrastructure layer for Cosmos. Some of which include:
On its blockchain, Comdex users are able to participate in:
- Automated market-making, which allows for exchanging commodities between the Comdex chain and others.
- Peer-to-peer(P2P)modules, which allow the exchange of commodities across your electronic devices.
2. Collaterization and Tokenization
These methods will enable projects and individuals build decentralized applications that would be helpful for Comdex’s function.
- Via CDPs (collaterized debt positions), Cosmos users can convert assets (which are native to other block chains they participate in) into debt collaterals for easy funding & rewards staking.
- You can likewise convert your physical commodities into Cosmos tokens, via the Comdex chain.
This system was introduced by the Comdex network, to bridge the gap between the traditional and crypto finance worlds.
To see its complete actualization by late 2022, projects are underway. These include:
- cAssets, for turning physical assets to Comdex assets.
- Commodo (also known as cLend), for borrowing.
- $SHIP (the native token).
- $CMST (Composite), the new stablecoin.
- $HARBOR, to help keep the CMST price peg stable at US$1.
All these features of Comdex have diverse beneficial effects to Cosmos, as the Comdex network keeps on expanding in its tokenomics of utility tokens and stable coins, thereby providing value for the dApps (decentralized applications) within the ecosystem.
Comdex is a decentralized synthetics protocol in the Cosmos crypto network; and as a product of the Persistence platform, Comdex develops possible solutions for the decentralization of finance (DeFi) by handing over to investors the knowledge about a widened scope of asset classes and rewarding projects.
To keep up with updates concerning Comdex’s monetization processes, you can follow up on:
Web App: https://dev-cassets.comdex.one/