Comdex Overview
In this article, we will present to you the Comdex network in which we have a running node.
Comdex is a decentralized synthetic assets protocol built on Cosmos. Its mission is to create an ecosystem of interoperable solutions that will bridge the gap between DeFi and CeFi and thereby democratize finance.
Comdex’s journey towards opening financial markets and growing investors’ access progresses lies through creating the synthetics protocol. Through synthetics, Comdex provides seamless access to global assets and liquidity. A truly permissionless system like this can facilitate the tokenization of real-world assets with fewer hurdles than those in the traditional derivatives markets.
The enterprise commodities trading platform, built in the Persistence ecosystem, brings trust and efficiency to the industry. ShipFi, a dApp in Comdex’s ecosystem, will facilitate the digitization of trade finance debt products.
The Project Development
Comdex was launched in 2018 and in 2019 Comdex already presented in 3 countries with 18 onboarded organizations. In 2020 integration of financing flows on the platform started.
On 20th November 2021, the Comdex Mainnet went live, which was followed by the CMDX LBP Launch on Osmosis.
In the first quarter of 2022, a Web App Launch is expected. With the imminent launch of the Decentralized Synthetics Exchange, Comdex now has the central component to the puzzle, which is true democratization of finance and bridging DeFi and CeFi in the commodities space.
Comdex Team
Abhishek Singh and Siddarth Patil are the founders of Comdex. Today the Comdex team consists of 25 strong, passionate people from top institutes and diverse backgrounds. The team is based in India.
Abhishek Singh, Co-Founder & CEO, former CTO. He is an Engineer by trade, prior to founding Comdex, he was working as a Business Intelligence Consultant at Thorogood, a professional services firm specializing in Business Intelligence and Analytics solutions, and as an associate in Sapient, a global services company that helps clients transform in the areas of business, marketing, and technology.
Siddarth Patil, Co-Founder & COO, was working as an analyst at EY-Parthenon, one of the largest global strategy consulting organizations, and as an Associate Investment Advisor at Manulife Securities Incorporated, one of Canada’s foremost independent investment dealers.
$CMDX
CMDX is the chain native token that powers the network’s staking economy. Transaction fees and staking of CMDX help secure the network.
CMDX holders can be involved in the governance — they play a role in making critical decisions for the protocol like whitelisting of synthetic.
Comdex synthetics app users can collateralize their CMDX holdings to create and trade synthetic cAssets on Comdex.
The CMDX token is inflationary in nature with an inflation of 30% set for the first year and a subsequent reduction of 25% in the inflation rate in each with the maximum supply capped at 200,000,000 CMDX.
CMDX is listed on the Osmosis.zone and soon will be available on a couple of DEXs and CEXs.
You can read more about CMDX Tokenomics & Utility here.
Conclusion
Comdex is a platform aimed at revolutionizing the fragmented commodity trade industry in an efficient, fast, and transparent way. The vision of Comdex is to revolutionize the rudimentary process of global commodity trade to minimize settlement times and maximize transparency, efficiency, and immutability in trade discovery and trade financing at lightning speeds.
The team believes to be at the cusp of a revolution centered around increasing global accessibility, where a large set of real-world investment vehicles and products are made readily available to retail investors.
To find out more about the Comdex project click here.
Also you can check their website, Twitter, Telegram, Medium, and Reddit.
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