Understanding the Comdex Chain as the Cosmos Ecosystem’s DeFi Layer.
(Pt. 1 — Why Comdex?)
Comdex’s main focus is the exchange of commodities in a decentralized manner and has finally made it to become a layer for the Cosmos ecosystem.
This role means that Comdex, through its interoperability, will give DeFi protocols entry into the Cosmos ecosystem and would input more usage for members of the blockchains in the ecosystem.
Why Comdex?
Who would not want to deploy a speedily growing blockchain as a layer of another blockchain?
The Comdex community, this year 2022, has witnessed a growth spurt in the recent months, for reasons clearly known about. Its establishment of a forum for exchanging commodities served one major catalyst to this expansion, as many rushed to convert their physical assets to crypto commodities, while “farming” them.
1. Transactions
As at present, nearly 500k (five hundred thousand) transactions have been carried out on the Comdex blockchain, which is nearly an additional two-third (⅔) that of the total transactions of last year 2021, ever since the cryptocurrency network began sometime in 2018.
2. Token Staking
Not just that, more than 35,000 cryptocurrency wallets have been created within the blockchain, and around seventy percent (70%) of the total circulated tokens have been staked (thereby boosting liquidity for the network and its users).
3. Social Influence
On social media, the Comdex network has more than 14,000 members on Telegram, and an estimate of 25.3k followers on their Twitter page. This increase is much more than the percentage increase recorded in the previous year of 2021.
4. dApp Development
While more than five projects are being built on the blockchain, decentralized apps are currently being developed upon, within the Comdex community. Therefore, the Cosmos’ employment of Comdex as its DeFi infrastructure layer will see the latter keep on developing dApps for the earlier, which will be a win-win situation.
5. cAssets
These are Comdex’s stylized term for synthetic assets, which are the physical real-world commodities which can be converted to crypto assets and backed by cryptocurrencies.
Items such as gold, oil and silver, can be converted to:
✓ cGOLD
✓ cOIL
✓ cSILVER
The $CMDO Token
Apart from the above reasons there have been newer latest updates on the Comdex network, some of which include the Commodo token.
This token is yet to have a release date announced, and very little is known about it; but what we do know is that it will be the trading token to be used on the upcoming cAssets loan app whose launch date is yet uncertain to the public.
Topics like these were brought up during the first community meeting held by members of Comdex worldwide (the Town Hall), in which many shared advices on how to grow the Comdex ecosystem.
This was held on the 24th of March, 2022; the realignment of the network’s roadmap for the year was touched, and resulted in the addition of more value to the ecosystem.
More details will be found in the second part of this chronology.
Join the Comdex community worldwide, get some CMDX tokens, stake some, and earn more.
About Comdex
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:
Website | https://comdex.one/home
Academy | https://academy.comdex.one/
Web App | https://dev-cassets.comdex.one/
Newsroom | https://comdex.one/newsroom
Newsletter |www.comdexnewsletter.com/subscribe
Twitter | https://twitter.com/ComdexOfficial
Telegram | https://t.me/ComdexChat
Medium | https://blog.comdex.one
Reddit | https://reddit.com/r/ComdexOne/