Comdex Alpha Alert.
The Team from Comdex held a Town Hall meeting recently, and we got a sneak peak of what the upcoming Dex will look like, along with some brand new features never before announced. The full 1 hour town hall meeting is definitely worth a listen, but for those that would prefer a five minute blog post summary, read on to find out what we learned.
During the presentation, the team began by updating the existing roadmap, which I won't go in to in much detail. Basically, it involved building the synthetic commodities Dex, with collateralized debt positions (CDP's) used to mint the assets, and a range of Cosmos assets able to be used. The other major plans were to migrate the existing "Enterprise Trade Platform" that the team already built and operate for a while onto the Comdex chain, launch the USCX Stablecoin and then buld out ShipFi.
Updates
The plan to migrate the Enterprise Trade App is still in place, but plans have been added to facilitate settlements and financing with the new USCX stablecoin. This should drive USCX adoption and add a solid, pre-existing use case to the token.
One significant change is that the Synthetics App will be the home for the cAssets, minted using CDP's. This App will have it's own native token to power and govern the app which is new information. Up to now, it was assumed that the CMDX token itself would govern this App, but the creation of a new token might indicate an airdrop could be coming to CMDX holders at some point. (Purely my speculation).
New
Planning to build a new Collateralized lending app, called Commodo with a new token called $CMDO. Planned to launch soon after the Synthetics Dex launches. This app will also have an uncollateralized lending option. This will basically entail a loan for one side of the liquidity pool, where you hold the other. For example, you want to add to the CMDX/cGOLD pool, and currently hold CMDX. This will enable you to borrow the cGOLD to provide liquidity. Interesting to see how this works, and the opportunities it presents to build leveraged LP positions. I imagine that it will be attractive early on while yields for farming the LP's are high.
The team are planning to build a validator operation, launching Comdex's own validator operations on other chains that they are looking to collaborate with. Basically a marketing exercise to build brand awareness across other Cosmos chains.
USCX works basically the same as the Synthetics assets, being a CDP stablecoin, like a Maker DAI style stablecoin rather than a Terra UST.
The team are looking for input from the community about what other cAssets they should add. In addition to Commodities, adding synthetic BTC, ETH and other crypto's is likely in time. this process is relatively easy as the oracles are already available. The team are looking for Oracle providers and keen to bring other operators in to the Cosmos ecosystem, as well as looking for more Commodities they can get oracles for to enable them as cAssets.
Other notes:
- Rebranding for both the Enterprise Trade App, and also ShipFi.
- Incentives for farming LP's. CMDX and the App token.
- Targeting incentives for certain commodities to begin with - more details to come.
- Focus on highly liquid tokens to use as collateral.
- Looking at options to use NFT's as collateral. ShipFi will be making NFT's of physical assets.
New tokens are expected to be airdropped. Seems like several coming. Target Comdex holders, stakers and LP's.
- Gov token for USCX.
- Commodo launch with CMDO.
- Synth asset app - gov, fees and reward token.
So that is a high level overview of the Town Hall meeting. It seems we can expect several new tokens coming for Apps on Comdex, that will likely be majority airdropped to CMDX holders. With CMDX so cheap at the moment, I for one will be looking to add to my bag in the coming weeks. I think once the Apps start roling out and the potential of Comdex becomes more apparent, the current low prices will look like a real bargain.
Not Financial advice, DYOR.
Thanks for reading,
JK.
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