Overview
Comdex is an ecosystem of solutions to democratize finance and bridge DeFi and CeFi.
- Comdex products runs on the Cosmos SDK.
- The protocol features bridges to other ecosystems, minting of synthetics (CDPs), and an AMM for cAsset trading on cSwap.
- CMDX is the Comdex native token.
Comdex at a glance
Comdex is a fully interoperable synthetics protocol that allow users to unlock access to a vast set of commodity debt assets and liquidity. What makes Comdex unique is that its ecosystem of solutions can work together to facilitate the flow of capital from DeFi into CeFi (Centralized Finance) seamlessly. Mainnet was launched November 20, 2021.
The Comdex synthetics exchange facilitates the creation and trading of synthetic assets on-chain. Minted synthetics on the chain are called cAssets. Each commodity listed on the platform has its own unique ‘cAsset’ token that can be traded on Comdex’s AMM module, the cSwap. These synthetic assets (tokenized derivatives) are used to create bridges to other crypto ecosystems and financial instrument markets.
Users of Comdex include Traders on cSwap, Minters or Borrowers of cAssets, and Liquidity Providers to pools on cSwap.
Comdex (CMDX) token
The CMDX token is Comdex’s native utility token with a circulating supply of 12.5M CMDX coins that have primary uses for the functioning of the protocol as:
- Staking of CMDX tokens as key to on-chain governance and modifications of parameters such as fees, cAsset set, etc.
- Collateral on its CDP platform to create and trade synthetic cAssets
- Rewards as incentives to liquidity providers and other participants who perform critical functions in the network.
- Transaction fees and various platform fees to compensate validators and make attacks on the network costly.
Related: What is a token and how is it used in crypto?
Proof-of-Stake (PoS) CMDX staking
Validators such as ourselves at Stakewith.us (and builders behind Unagii) operate nodes responsible for the protocol’s operations in securing the network and will earn staking rewards via transaction fees and distributed CMDX tokens as incentives. Delegators (or users of Unagii) can help participate and secure the Comdex protocol with their votes by delegating their stakes to us on the Unagii platform to receive a portion of the rewards that validators receive.
Staking CMDX allows Unagii users to earn yield from rewards as an incentive to stake and provide security, which comes from transaction fees collected by the network plus distributed tokens to stakers due to their inflationary rewards policy. The inflation will be 30% in the first year and a subsequent reduction of 25% with a max. supply capped at 200M CMDX. Rewards are paid out on a per block basis and users can choose to withdraw or compound accumulated rewards.
Note that staking risks do apply. Should a validator encounter a downtime or underperform, a percentage of CMDX delegated may be forfeited. There is also a 21 day unbonding period for users when unstaking CMDX from the network. During this period, users will not be able to withdraw and earn rewards.
Related: Staking coins: What is staking and how does it work?
How to stake CMDX?
Staking CMDX on Unagii is simple and convenient.
- Head to app.unagii.com/stake/comdex
- Connect your wallet
- Stake CMDX
- Approve and confirm transaction (gas fee payable)
View more info: Stakewith.us validator details
