Updates on the Ongoing Projects Carried Out by the Comdex Network

4 min readSep 5, 2022

The year 2022 has seen the advancement of projects which the Comdex network had earlier programmed on its roadmap since inception. These projects include:

cSwap,
Harbor Protocol, $HARBOR,
Composite, $CMST,
Commodo Bank,
ShipFi, $SHIP.

Comdex has currently launched the Testnets of 2 of its products — Harbor Protocol and cSwap DEX. And another Testnet is on the way, Commodo Lending and Borrowing Platform.

Let’s take a close look at Harbor Protocol and how to participate in the Testnet.

Harbor Protocol

The Harbor Protocol is the protocol that enables the minting of Composite $CMST stablecoin, stablecoin of Comdex, through the collaterization of IBC-enabled tokens.

Harbor protocol enables users to put Composite in its Locker module to earn interest. The protocol’s StableMint feature, which guarantees Composite ($CMST) retains its peg in secondary markets, also helps market makers and users to profit from arbitrage opportunities.

Similar to how all fiat is created by central banks using excess collateralized assets, where all fiat exists as debt or IOUs.

The Harbor protocol seeks to act as an interchain central bank enabling owners of crypto assets in diverse ecosystems to use their holdings as collateral to produce stablecoin liquidity that can be used in a variety of marketplaces.

On 24th of August, 2022, the Harbor Protocol Testnet was launched successfully for community testing, upgrades, and updates, in preparation for the Mainnet launch coming soon.

Harbor Protocol Testnet Walkthrough

How do you participate in Harbor Protocol’s testrun? Follow the steps below:

1. Go to https://testnet.harborprotocol.one/

2. When the link opens, CONNECT your KeplrWallet.

3. DEPOSIT your IBC-enabled assets in the platform. Do this under the ASSETS tab.

Input the amount you want to deposit in the popup.
Approve the transaction.
Go to the #request-faucet channel in the Discord Site, https://bit.ly/ComdexOfficialDiscord.
Insert “$testnet <your wallet address>.”

3. Mint your $CMST.

Click either on MINT (by the left sidebar) or TAKE ME There (from the dashboard) to begin.
Pick the Vault based on the ratio of its collateralization, stability fee, and minimum amount to be borrowed.
Insert your desired amount in the DEPOSIT section to borrow $CMST.
Adjust your collateralization ratio.
Click on MINT.
Approve your transaction in the popup window.
Go to the EDIT part of the MINT tab, and adjust your positions, change functions such as DEPOSIT.

4. Closing debts.

Click on the CLOSE section of the MINT tab.
Click CLOSE.
Approve the transaction.

5. Earning interests via $CMST.

Click “EARN (from your left sidebar).
Input the amount of CMST desired.
Approve the transaction.

Go to the Calculator section of the Earn tab, to estimate the total value of $CMST that you have gained for a specified investment over a period of time, together with an interest rate.

6. Withdrawing $CMST.

Go to the “AMOUNT TO WITHDRAW” tab.
Input the amount.
Click to WITHDRAW.
Confirm by approving your withdrawal transaction.
cSwap Testnet

The cSwap exchange is designed to enable the swapping of physical assets in exchange for digital commodities known as cAssets.

In the beta version of this app, master pools have been formed and farm transactions have been tested as well.

cSwap decentralized exchange testnet was also launched in August 24th, 2022 as well.

Commodo Testnet

Commodo Finance, the banking facility for promoting the borrowing and the lending of funds within the Comdex blockchain, has been planned to have its own application that would cater to its functions.

The beta version of this app (known as the Commodo Testnet), has been put to test by users, for approximately 20,000 borrow and lend positions with interest accrued for every block; all with a target of 100,000.

In Summary

Rewards which have been distributed to around 95,000 liquidity pool farmers have been tested out to turn out positively, and no issue has been found amongst all the ongoing applications, while around 50,000 vaults have been created.

20,000 lockers have been created as well, and both vaults and lockers have been tested to carry no malfunctions, while all their interests have been distributed per transaction block.

By September, the Commodo Finance app is projected to be launched along with the HARBOR Protocol app, and cSwap app. While the last two have testnets ready to be used in the Comdex blockchain, details about Commodo are still incoming.

Stay tuned.

About Comdex

A decentralized infrastructure layer of the Cosmos ecosystem, Comdex makes use of its network of financial solutions, giving these to their investors, along with major know-hows about classes of assets as well as other beneficial projects.

To gain more further information about the network, follow the Comdex Network via the following links:

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

Discord: https://bit.ly/ComdexOfficialDiscord

Reddit: https://reddit.com/r/ComdexOne/

cSwap Telegram: https://t.me/cSwap_DEX