How To Stake Comdex’s CMDX On Osmosis Zone.
Liquidity engagement is one of Comdex’s native token — $CMDX utilities. By acquiring CMDX tokens, you can participate in staking on staking protocols and in liquidity pools. By applying some of your CMDX tokens into the liquidity, you are helping to preserve the Comdex network and you can earn up to 50% APR rewards.
In this article, I’ll be giving you a guided pathway on how to stake your $CMDX on Osmosis. (Note: Osmosis is the DEX of Cosmos Network, the network on which Comdex and its parent company, Persistence run on.)
To stake your $CMDX on the Osmosis Zone, a Keplr Wallet is required, and you will authorize the validation of Omniflix. But before you start with staking on Osmosis, first, you have to have $CMDX in your wallet — preferably Keplr wallet. The only exchange where $CMDX is listed for swaps for now is Osmosis.
Here’s a run down of the steps:
(There will be series of them. But not to worry, they will be divided into parts to aid a clearer understanding.)
PART 1: Your Keplr Wallet
A. Download Keplr Wallet
1. Go to your Chrome browser and search www.keplr.app.
2. Open the 3-lined tab at the uppermost right part of the screen.
3. You will see an option for installation. Click on it.
4. Rush over to the Chrome Web Store, and once you’re there, add Keplr to Chrome.
5. A tab will open by itself. Once it does, you just have to “Add Extension.”
6. There’s a puzzle-shaped tab at the upper right of your Chrome home screen. Once you’ve added Keplr to the Extension, you can freely recover it in the puzzle.
B. Configure your downloaded Keplr.
1. Open Keplr according to Part 1A(5).
2. Sign in to Keplr with Google and input your new account name and password.
3. Input your Gmail (or phone number) and Google pass code. Tap “Next.”
4. After a max of 15 seconds, your wallet will be ready for use. Proceed to DONE.
5. Go ahead; fill up your Wallet with Osmosis-related tokens (ATOM at best), in order to buy CMDX.
6. Store a quantity of ATOMs in your Keplr, from any account you have in other wallets asides Keplr.
7. Check your ATOM balance.
C. Connecting Keplr to Osmosis.
- Go to www.osmosis.zone and log in with the same Google account you used in configuring your Keplr.
2. Subsequently “ENTER THE LAB.”
3. After reading what is written and checking the box below, “PROCEED.”
4. “CONNECT WALLET” — on either sides of the screen.
5. Tap on “Keplr Wallet.”
6. The website will ask for permission to connect your Keplr to Osmosis. “APPROVE.”
PART 2: Asset Purchase
A. Send your ATOMs from Keplr to Osmosis.
1. Click on the tab for “ASSETS” on your Kept wallet in order to transfer your ATOMs there.
2. Allow Osmosis to connect your Keplr Cosmoshub-4 by clicking to “APPROVE.”
3. Input the amount of ATOMs you want to transfer (leave enough for transaction fee), then “DEPOSIT”. Wait for a minute or less.
4. Allow the IBS transfer on the Keplr tab showing the right fee set.
B. Exchange ATOMs to get CMDX.
1. Open www.osmosis.zone and click “TRADE” on the left bar.
2. Set CMDX as the “target coin” when you see the “SWAP” tab to the right.
3. Input the number of ATOMs you want to exchange for CMDX and “SWAP” them.
4. Once you see a Keplr tab pop up, “APPROVE” the transaction.
C. Transfer CMDX to Keplr.
1. Go back to ASSETS seen in Part 2A(1) and check the quantity enough to be taken out of there.
2. On the right hand side across it, WITHDRAW the amount you want.
3. Allow Keplr to connect to the Comdex website.
4. Open the tab on the upper right, as seen in Part 1A(2), where you’ll find your Keplr Wallet planted.
5. Open it and input the number of ATOMs you want to exchange afterwards, then WITHDRAW.
6. Set the IBC transfer free (of which 0 is allowed) and APPROVE it, then wait for your CMDX to arrive in your Keplr wallet (in just a few minutes).
PART 3: Staking your CMDX tokens.
A. Enter your Keplr wallet once more.
1. Cosmos (or some other default networks) will be shown. Look for Comdex.
2. When you find it, select and it will show you the quantity of CMDX you have in stake.
B. Connect your Keplr to OmniFlix.
1. Tap on CONNECT when you browse for — and enter — the Keplr tab on the upper right side of the www.comdex.omniflix.co/stake screen, in order to connect your Keplr wallet.
2. APPROVE on the Keplr tab.
3. Check the connection status of OmniFlix to your Keplr, at the upper left hand side of the website page.
4. Choose your CMDX validator.
(Validators are like the audit section of each crypto network blockchain. They can be up to 5 and above, or lower, and can likewise confirm the genuineness of all the transactions carried out on the blockchain.)
5. Assign your CMDX.
6. Tap on delegate on the right from the validator you wish to use.
7. When the validator window opens, input the CMDX amount you want to stake and DELEGATE them, making sure to leave some for transaction fee.
8. A window designated “Keplr Comdex Delegate” will pop up. Input the transaction fee (preferably low) you prefer and APPROVE it.
9. Notifications will appear that shows your delegation is successful, as thus:
- Your transaction hash.
- Your delegator and validator addresses, respectively.
- The amount of CMDX staked.
10. Check your staking status in your Keplr wallet, which will show you the CMDX amount you have staked, and the amount available.
After staking, you begin to have an annual percentage rate of 50% per year, approximately.
With the staking delegation finished, OmniFlix would automatically add options for you to UNDELEGATE and REDELEGATE at your validator tab as described in Part 3B(8).
The UNDELEGATE option lets you remove your staked CMDX (which will be actualized 21 days after you confirm the option), while the REDELEGATE option lets you transfer your staked CMDX (or part of it) to another validator (without fees and unstaking).
Redelegating for the first time would be carried out immediately after you confirm; but the next time you try redelegating, you will have to wait 21 days.
It’s not too late to stake your $CMDX now!
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.
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