Comdex is a platform and new Cosmos eco-system project that I have taken a keen interest in. My airdrop was fairly small for this one, but still enough to capture my attention. I have decided to take a different approach with Comdex, and build a long term position early. With many things I have moved funds onto Osmosis, and LP'd. With Comdex, I am building a stake position, and then will build an LP position later.
What is Comdex?
I have posted previously about Comdex, so I won't go into too much detail again. Basically, they are building a Dex for synthetic commodities. LP synthetic gold, oil or whatever and trade in these assets on a Dex. Built on a Cosmos SDK chain, it will be fast and low fee. Also being built is Commodity trade finance debt platform.
Just recently, @nulledgh0st also produced this post and I'd recommend his insight as he is involved in a validator project for Comdex. In that post, he says:
Bringing commodities trading to crypto is a HUGE deal in my opinion; this can potentially open the floodgates for retail traders operating within existing global markets.
@nulledgh0st
I tend to agree, and this is why I've made the decision to build a long term position and make CMDX a core component of my portfolio.
The CMDX token economics and utility post from the team gives some great insight into where the project is headed, and the benefits of holding CMDX. I really like that aside from staking and governance, the token is also a mint and burn model, and will be used (along with other Cosmos eco-system tokens) as collateral to mint, and trade synthetic commoditied on the platform. The tokenomics make me quite bullish for the value of my stake, once I hit the target.
So, what is the plan?
Basically, I am buying a little CMDX everyday from my OSMO income, then withdrawing and staking. I have set myself a goal of reaching 2,000 staked CMDX over the next few months. Currently, just over half way there with 1,096 staked CMDX in my wallet.
Factoring in the airdrop (which is released in instalments over 12 months) and staking rewards so far, currently my 1096 CMDX have come at an average buy price of $1.88 each.
Over the last few days, The price of CMDX has moved significantly and is currently sitting at $3.22. So far, on an investment of just over $2000 I'm sitting on just over $1400 gain in value - in just a few weeks.
It seems that acquiring the rest of my planned stake will be a bit more expensive - but this is a nice problem to have.
Longer term, once I hit the 2,000 staked CMDX target, then all income from staking rewards will be moved to Osmosis and added to the OSMO/CMDX LP. This should mean (with current inflation running around 30%) 1.5 to 2 CMDX per day, which I can shift and LP. Long term, I think this strategy will be good to build an LP, and hold my core stake for the long term.
This strategy is one that I wish I had used for JUNO, in particular, as by pooling all my JUNO instead of building a stake, I think I will miss out on a number of airdrops moving forward. Oh well, you live and learn, and I think building a stake, and then an LP position from that will be my "go-to" plan from now on.
So that's my plan for Comdex - build a long term stake position of 2000 CMDX staked, and then add the income from this to a OSMO/CMDX LP position for the long term.
Not financial advice, do your own research.
Thanks for reading,
JK.
P.S. Don't forget to check my regularly updated Cosmos Airdrop to keep track of all the drops coming to ATOM, OSMO and other holders.