What to Expect from Comdex’s Partnership with Injective
Over the past few months, the Comdex network has been trying its best to totally establish its $CMST stable coin, which is known to be over-collateralized. Being the decentralized finance (deFi) infrastructure layer of the Cosmos ecosystem. Comdex offers quite a wide range of plug and play mechanisms for decentralized projects to create their individual applications, thereby enabling utility in the Cosmos ecosystem and the decentralized world at large.
Wielding its over-collateralized stablecoin, the $CMST, Comdex is very much trying to make more opportunities abound for both $CMDX and $CMST token users, all which would be available on all the decentralized applications (dApps) which are built upon the decentralized exchange platform of the Injective network.
Before going further, let us take a sneaky look at the $CMST stable coin.
Operating via the InterBlockchain protocol, the $CMST token was primarily inspired by the genuine model built by the MakerDAO, and can also be minted to be used upfront against over-collateralized debt positions.
You are able to mint your $CMST stable coins when you lock up assets which can be found within the Cosmos ecosystem, as security pledges. And in order to do this, a US dollar is all it takes.
The $CMST token will play a major role in Comdex’s cooperative association with the Injective network, as it finds a strong place among the upcoming products related to the Comdex network, which Injective looks forward to dealing with. Included on such list is the Commodo Bank, Comdex’s good lending and borrowing forum.
Comdex will introduce the usage of the $CMST stable coin as the “quote asset” for the $CMDX official governance token. This is primarily because when the $CMST stable coin rises in utilization, according to the Comdex network, “it would be great to also consider adding $CMST as a quote asset pair for other spot and perpetual markets.” A quote asset is the secondary part of a pair of two assets quoted against each other, the primary asset being called the base asset.
About the Partnership
According to the Comdex network, a range of opportunities which would top up the usage of the $INJ token are needed, while helping the members of the global Injective community to gain control of easy access and interaction with their new assets on the decentralized applications to be built on the Comdex infrastructure layer, while they explore the features of decentralized finance, increasing their earnings up to the highest maximum they can attain.
Via the partnership, the $INJ token would be able to ascertain the value of being a collateral asset for minting the $CMST stable coin on the HARBOR protocol. This means that users of the $INJ token would be able to exchange it for $CMST stable coins instead.
Not just that, but the partnership would also introduce the lending and borrowing of $INJ tokens within the Commodo Bank, and users of these set of tokens would be welcome into the asset trading sector of the Comdex economy. The $INJ would be listed as a token on the cSwap (where physical assets can be changed into digital non-fungible tokens). Therefore, the AMM (automatic market maker) technology will create a pool designed for $INJ/$CMST trading, in order to top up the $INJ token’s liquidity, via staking and more.
The Comdex management has confirmed with the Injective network, that more deals would be struck between both partners, as time permits. Listing the $INJ token on its decentralized infrastructure layer is not all there is to the alliance; there will be more.
Benefit to Comdex
The Comdex network does not enter into just casual partnerships, but instead enters into adequately strategic ones. Hence, the accrual of benefits off these alliances is a proof of how strategic such are. As for the partnership with Injective, Comdex called for the end of the bargain to be given them in due course. This is simply that the $CMDX token is to be displayed well on the decentralized exchange applications of the Injective network.
But… before rounding up this article in a proper manner, we have to take a brief glance of what Injective looks like.
The Injective Network
Injective is a big and Ethereum-compatible network, operating smart contracts which can be run across various blockchains and the decentralized applications (dApps) of finance. Optimized for deFi (decentralized finance), Injective offers a large number of unique InterBlockchain (IBC) technological features which could be used for sending information across blockchains, and also to develop dApps.
Injective is governed by its community, and runs a complex and decentralized system of decision making, which has pushed the ecosystem forward in growth, till date.
The Injective network uses the Tendermint Proof-of-Stake consensus mechanism to create smart contracts for dApps. The PoS also ensures that transactions are secured and carried out with speed, with low gas fees attached. Injective makes use of the development environments pushed by the Rust and Golang systems, and keeps the exuding of unhygienic carbon footprint at its barest minimum.
Comdex is a large decentralized synthetics protocol in the Cosmos crypto network. As a product of the Persistence platform, the Comdex network develops a large pool of possible solutions for the decentralization of finance, by handing over to investors the knowledge about a widened scope of asset classes and rewarding projects.
To keep up with all the updates concerning Comdex’s monetization processes, follow up the following links.
Web App: https://dev-cassets.comdex.one/