The COSMOS ecosystem is buzzing. I dived into the ecosystem 4 months ago inspired by all good articles here on @leofinance. @JK6276 has been instrumental in letting us know about all the airdrops and amazing projects that are launching with COSMOS.
I got inspired and staked ATOM and JUNO. I also pooled LP tokens on OSMOSIS. All small bags but they have helped me understand many projects in the ecosystem. Once you get into the ecosystem you learn more. That is exactly what happened. I bought my CMDX portfolio yesterday and staked.
What is COMDEX?
For those who are new to COMDEX, Comdex is "a fully interoperable synthetics protocol that allow users to unlock access to a vast set of commodity debt assets and liquidity, making the flow of capital from DeFi to CeFi."
Read these posts by @jk6276 and @nulledgh0st if you want to know more about the project.
@jk6276/comdex-an-interesting-bear-market-option
@nulledgh0st/comdex-synthetic-assets-exchange-for-cosmonauts-across-the-galaxy
CMDX staking
I have known COMDEX project since they day I purchased my first ATOM coins. I meant to learn more and invest in it.
I finally managed to transfer my CAKE rewards from Pancakeswap to purchased CMDX tokens. It was not that complex as I swapped my CAKE to UST using pancakeswap. I used terrabridge to transfer UST to OSMOSIS and swapped UST to CMDX.
I did a bit of research on where to stake my CMDX. There are many validators that provide this service. I wanted to make sure I am using validators that are mentioned on the official COMDEX website.
There were two options provided on the website.
OMNIFLIX
Unagii
I liked Unagii UI better compared to Omniflix and decided to go with them. There UI is clean and they provide staking service to many other COSMOS assets. I am thinking to build my staking volume and Unagii seems like a clean option.
I am impressed by the intuitive features they have and how they display an account's portfolio.
Staking Rewards
The reward for CMDX staking is at 40% APY. I am planning to build a bag of 2000 CMDX staked. Let's see how long will that be given the price of Cake that I will be transferring from BSC. I also hope that the CMDX staking will give me access to more airdrops :)
Once I reach 2K CMDX goal, the next step would be add CMDX rewards to OSMO-CMDX pool on OSMOSIS. There are so many things you can do with COSMOS projects, I am sometimes overwhelmed.
I know there are many users on Leofinance who are active on COSMOS network. Let me know if I am missing out on any new airdrops :P