The heart of the interchain serving as the economic centre of Cosmos is known as Cosmos Hub. This hub homed so many great DApps that provides solutions to common problems in our traditional market and even some major problem experienced in DeFi, Cosmos Network brought in solution.
Comdex is one of the projects on Cosmos Hub and of the time of writing this article, 807,036 transactions have been carried out on its network as revealed by MintScan. The products attached to this project increase people's interaction with the project.
The DeFi Infrastructure of
As the Blockchain/cryptocurrency industry awareness increases, the rise of decentralized finance as a
sector within the cryptocurrency market which implements blockchain systems to replicate and
improve on all major services currently offered by traditional markets, banks and financial
organization can never be overemphasized. At the moment DeFi takes 4.2% dominance with $61,274,823,865 total volume locked against the crypto global market as revealed by Coingecko and for the team at Comdex to build bleeding-edge DeFi applications with an upgrading structure of becoming the DeFi infrastructure tool within the Cosmos Network has a lot to contribute to the growth of DeFi in Cosmos Network and Crypto market in general.
Build bleeding-edge DeFi Applications with Comdex
Cosmos is known for its interoperability function following its interconnected apps and services, built for a decentralized future, holders of $CMDX a utility token of Comdex have been enjoying crypto incentives using decentralized Apps like Osmosis. zone, Cosmostation, Unagii. Earning above 35% APR with your $CMDX stake is a deal.
In the second week of July 2022, the Comdex team revealed information about the three products in the security audit, which means the release of these products is very close.
Let's dive into the 3 products:
- Harbor Protocol
This is a platform that allows users on its platform to mint $CMST. $CMST is the composite money stablecoin backed by cosmos assets. In other words, $CMST is a collateralized stablecoin for IBC which is built on the Comdex chain.
It's not a news any longer that $UST failed to recover from it's fall and in fact it led to action by Crypto Whales to ditch their USDT for USDC because of Stablecoin panic. What then is the safest Stablecoin in the space?
With the introduction of $CMST, it seems the architecture around it, is sustainable.
For Harbor protocol, it's going to be governed via the use of $HARBOR a governance token with two main functions which are: Governance& Recapitalization
A deeper understanding of Harbor Protocol revealed that when a user hodl $HARBOR he/she can take part in crucial decision-making on the chain.
- Commodo Finance
This is a platform with lending/borrowing features and is built on Comdex. The goal of Commodo is to alleviate the exact pain points available in the present lending and borrowing markets, and thereafter provide an additional income foundation to investors. Sound interesting? Follow them on Twitter
- cSwap App
This is a synthetics trading platform on the Comdex chain. This is a DEX. More info is coming soon, but in the meantime, you can stay glued to the project by searching all you need to know Here
These above-mentioned products and services are major in decentralized finance and great to see various some unique features attached. From cSwap, yes there are multiple DEX in the space already, but it's rare to see a synthetic DEX that allows commodities transaction on chain. How about Commodo, lending and borrowing platform with multiple chain features.
As the day of the launch approaching, it's certain to see some news toward the launch and having some of the chain token may fetch you some $$$ as incentives or sharedrop.... Wait for the news, but follow the official twitter or telegram of Comdex.
Other Products On The Chain
- cAsset
This platform will facilitate the creation of synthetic assets just by collateralizing crypto assets. This is where DEVNET
- SHIPFi
The unique feature of this platform has to do with NFT marketplace. SHIPFi will allow collateralizatiom of real-world assets as NFTs. This will use $SHIP token for it's transactions.
One last thing about Comdex regarding it's use case and it's contribution on Cosmos network, as an IBC-based project, it's contribution as a validator on Cosmos Network can not be overlooked. ZenScape is the validator arm of Comdex and has been performing in establishing cordial relationship between the rest of Cosmos projects.
In conclusion, Cosmos Network is one of the network that releases different DApps via it's hub and users enjoyed low transaction fee, interoperability function, high security and many benefit. It's great to see what Comdex is building on it's chain, and new projects are welcome to use Comdex chain. You can visit Comdex explorer via the following:
MintScan | Aneka | LookChill | AtomScan
Disclaimer: I'm not a financial advisor, every information right here are educational piece and it's subject to research. Kindly do your own research and ask questions.