Understanding Comdex’s ShipFi Principle Amidst the Synthetics DEX Launch Fervour
Comdex’s tagline has always been “democratizing commodities”, therefore every product and feature of the platform aims at making the trade of commodities less tasking, accessible to everyone — even small scale investors, and more profitable.
The launch of the Comdex Synthetics Decentralized Exchange was successful. This launch will heighten the activities of commoditization on-chain and usher in more revolution in the trade of commodities. The Synthetics DEX is the kickstart of several other products that aim at bringing more liquidity to commodities commerce on-chain, following the roadmap of the platform.
One of the products follow after the Comdex Synthetics DEX is launched is Ship Finance (ShipFi).
Comdex — the decentralized commodities exchange platform — aims at narrowing the gap between centralized and decentralized finance. Hence, the concept of ShipFi.
ShipFi is a somewhat new principle brought up by the Comdex platform, scheduled to be launched prior to the Q4 of 2022.
To “democratize finance” is Comdex’s watchword and in several ways, they have proved to abide by the precept by providing their users avenues to be a part of the DeFi market and earn amazing rewards. However, ShipFi will take this to an advanced level.
What is ShipFi?
ShipFi is a platform on Comdex that allows for the digitization and the exchange of ownership of trade finance debt assets to real-world investment vehicles for highly trusted currency-backed stablecoins. ShipFi is the bridge between DeFi and CeFi for Comdex and is the foundational layer of its next steps into exploring more ways to democratize finance for its users.
How will ShipFi achieve the CeFi and DeFi Bridge?
ShipFi is adding to finance democratization through the facilitation of trade finance debt products digitization. This means that any debt asset one holds can be brought into the Comdex chain and made into synthetic assets which can be tracked.
So whereas trade finance debt assets only exist on CeFi, Comdex through ShipFi revolutionizes this by giving investors access to the historical track record of this safe trade finance debt assets through their crypto holdings.
Debt assets on CeFi are on-ramped to DeFi onto the Comdex chain, synthetic assets (tokens) are issued in place to represent the value of debt held, and investors buy it as a means to take exposure to the debt assets.
To stitch it up, ShipFi allows the transfer of debt assets to crypto token investments, using the value of a great stablecoin that supports physical currency.
These assets (acquired through the traditional centralized finance) are made synthetic assets (duplicates of stablecoins or other crypto currencies), of which the debt value becomes the value of the newly formed synthetic asset (also known as a synth).
With ShipFi, you will be able to have less stressful access to various investments with good structure.
Benefits of ShipFi
There are more benefits to engaging in ShipFi, such of which include:
- Easy access to trade finance.
- Real estate.
- Private equity.
Other benefits of ShipFi include:
- Fundraising for initial investments made.
- The SHIP token.
- Issuance of fungible tokens to investors, in order to expand liquidity.
- Constant rewards based off on stablecoin values for liquidity providers and LP stakeholders.
Look out for my next article for more insights into the ShipFi platform.
Comdex provides ways to ease the difficulties in commodities trading. As Comdex launched its Synthetics DEX, these features will be made less complex and easier to operate for every user.
The world is waiting for this launch, the momentum is building. This is the best period to hold your CMDX tokens.
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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