The task for growing leofinance is still on and that is by talking about the community pages on leofinance and using the necessary tags and sharing the post on Twitter too. Yesterday I talked about THORChain one of the 18 communities and it was a newbie guide to understand what THORChain is all about. Talking about THORChain I also got to learn more about too and I hope those who read it got to understand it a little bit because more research will be needed to understand it fully.
The next leofinance community I will be talking about is COMDEX. Going through the community page I noticed there was no topic or post about it on the community page and it would be difficult for anyone to actually know what it’s all about from there, and that’s why I choose it next for anyone to know what COMDEX is.
Introduction to COMDEX
First of all, Comdex is actually an abbreviation for the word Computer Dealers Exhibition and it all started as a computer expo trade that began as early as the 70s. Comdex in a general sense is a synthetic asset protocol that is built on the Cosmos Ecosystem and it enables the movement of debt assets and liquidity from DeFi (Decentralised Finance) to CeFi (Centralised Finance) without interruptions from any third party.
Aside from the debt assets (items used mainly by companies to conduct business) and liquidity that Comdex moves from DeFi to CeFi, they also move tokenized derivatives which are also called synthetics and they project the price movement of the real-world assets such as stocks or bonds and these enable investors to use them as collateral to provide liquidity and borrow other assets. Synthetics are also minted on the on-chain and when minted they are known as cAssets which can also be traded.
There are some stakeholders who keep the platform running and they are; Traders whose role is to trade and make a profit from the cAssets, liquidity providers who earn the platform’s native token called CMDX by providing liquidity to the platform and lastly, the miners whose role is to provide liquidity by minting cAssets.
The Native Token CMDX
CMDX is the native token of the Comdex platform and just like other tokens, it helps the platform in achieving its goals in the ecosystem. I don’t know if this is an advantage or disadvantage but the token is inflationary and the max supply to be distributed is 200,000,000 and the current price is at $0.2889 according to coinmarketcap as of the time of writing.