Comdex Synthetics DEX Web App: What’s In There for Users?
Comdex launched its long-awaitedSynthetic Decentralized Exchange forum for synthetic assets (which is known as cAssets within its community), last week’s Thursday, the 31st of March, 2022.
It is also known that this platform incorporates many features and functions, such as the selling, gifting, etc, of tokens.
Did you know that Comdex DEX TestNet and Comdex DEX DevNet do not particularly mean the same thing?
Comdex’s Synthetics DEX Testnet is the version of DEX that are open to programmers, developers, and technologically/technically skilled users to help implement the removal of problems found in DEX in development (if any) and fight against bugs that may want to attack the forum’s foundation.
Whereas, Comdex Synthetic DEX DevNet is the DApp currently available for general users to use and provide feedback that can be implemented on the TestNet.
Comdex has announced that it will be enrolling more Blockchain fervent with technical knowledge for its Bug Bounty Program. People who will be involved in debugging in the Testnet, by fixing issues discovered on the App. This Program is incentivized.
More details coming soon…
Comdex Web App, another term for the Synthetics DEX, has a lot of features which — implanted into tabs on the forum’s website — are functional to the most aims and objectives of the Comdex network as a whole, some of which include converting debt assets into synthetic assets and trading commodities in the cryptospace.
(All figures stated in this article are dated to April 7th, 2022.)
The dashboard is the first tab that opens automatically when you enter the web app. It contains several features such as:
- Connect (Keplr Wallet), to store your CMDX tokens.
- A link to find out more on Comdex’s main website.
- Total volume (calculated per day, week, month, and year). The Total Value (TV) between December 2021 and April 2022 is estimated at US$1.3M.
- $CMDX price (including its supply and market capitalization).
- Total value locked, subdivided based on liquidity and collaterals.
- Liquidity volume of three cAsset products:
✓ cGold (approx. $24.7M).
✓ cOIL (approx. $19.5M).
✓ cSILVER (approx. $20.1M).
In the top left corner of the screen, you will find a three-lined tab which contains the other features.
1. My Home
The page where your transactions are recorded. Tabs for swapping, minting, farming, and your history are organized here. Also, the balances for your cAssets, minting, farming, and ordinary assets are shown.
Comdex currently offers only the CMDX, OSMO, UST, XPRT, OSMO, and LUNA on its Web App, with your balances, and options to deposit or withdraw.
To convert CMDX into cGOLD, cSILVER, and cOIL, with a 0.3% swap fee, and zero slippage.
You can use any six cryptocurrencies Comdex offers as collateral to borrow the three types of cAssets.
To farm, you can only provide CMDX and the three cAsset types.
In this tab, you will find two sections.
✓ Staking and Governance, where you will be able to stake your CMDX, to:
- Earn income.
- Join in governance or voting towards Comdex’s future.
✓ Participate in Auctions, to:
- Liquidize assets.
- Gain assets via discounts.
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 decentralizing 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: