Exploring the Synthetics Ecosytem with Comdex One
The Comdex platform successfully launched their mainnet (the main site for their token circulation) on the 20th of January, 2021; on the 3rd of December the same year, the platform held its liquidity bootstrapping pool (a process by which members of its community partook in price discovery without entry hinderances).
LBP, as one of the fairest methods of price discovery (in which you are able to find out the best affordable prices for crypto tokens you want to buy), allows its users to patiently wait for CMDX (Comdex’s native token) to reach a price level at which they can afford.
Being the governance token of the Comdex community, CMDX performs various functions. As a member of the Comdex community worldwide, you can stake tokens during votes to decide future cooperations you and other users want the platform to engage in.
As a CMDX owner, you can stake other lesser tokens (called project tokens) using Comdex’s validators. You can also use your CMDX as collateral and mint what is known as “C-Assets.”
In other words, the CMDX token is an important tool for the continuous progress of Comdex. But do you know that CMDX can also be used to generate rewards gotten from mining liquidity?
Do you know that staking allows you to delegate your coins to validators that secure the Comdex network, in order to get good returns.
Rewards gotten from staking CMDX are first issued via inflation of price, but will later on be gotten via Comdex platform fees when the number of community members increase. However, for now (as a CMDX owner), you can stake your tokens in:
This is the decentralized finance yield forum that offers staking services, without stress, thereby re-creating quicker ease of access to decentralized finance rewards.
This forum supplies Proof-of-Stake services and token assets and groups. It allows the publication of digital media and non-fungible tokens gotten across other networks besides Comdex.
This is the validator chain and community supplier that performs operations and acts as an important tool for Cosmos, Terra, IRIS and Tendermint. Its operations HQ is situated in Seoul, South Korea.
Liquidity Via CMDX
As a CMDX owner, you can provide liquidity (ease of trade) on decentralized exchanges using your tokens, thereby acquiring benefits from the liquidity pools (LPs).
By doing this, you are being useful to the development of the Comdex platform, as liquidity makes the decentralized exchange community speedily run trading transactions by members without charging much.
(Fact: Rewards are improvised via the combination of token value inflation and transaction costs. They are supplied to you (if you have participated) on OSMO (the Osmosis blockchain official cryptocurrency token), on a daily basis!)
The CMDX token circulation has two active LPs on Osmosis, these are the Pool 600 (which incorporates ATOM and CMDX) and Pool 601 (which incorporates ATOM and CMDX).
Note that ATOM is the official cryptocurrency token of Cosmos.
When you want to provide liquidity to any of the pools mentioned above, you require the same quantity of CMDX and ATOM or OSMO (depending on which pool you choose). You will afterwards select “add liquidity,” and choose a “bonding” period (one day or one week or two weeks). Longer periods entail higher rewards.
Nevertheless, it is advisable that you choose a bonding period conducive for your financial or economic state, as you can never unlock your tokens within the periods. Also, it is advisable you store your tokens in the Kepler wallet backed by Comdex, to ensure self sovereignty over them.
Moreover, it is advisable that if you are not a participant in any of the events mentioned above, you should dive into it. And if you are not a Comet (as Comdex members are fondly called by the platform), join the fun!
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:
For more information;