Dec 26, 2022
Comdex, Growth In Bear Market
This year 2022 the crypto market has been up and down, making many projects close out their development program due to funds and other factors.
Cosmos ecosystem recorded massive growth due to the strong community around each project built on Cosmos being the internet of blockchain.
Comdex, One of The Favorite Project On Cosmos Network
The bear market is not a new story in 2022 as its effect was so huge but in it, we see Comdex delivering new products and projects launching on its chain with different proposals receiving approvals.
The beginning of December 2022 marks the revealing of Harbor airdrop eligibility. It’s possible you are new to Harbor Protocol, let’s dive into it a bit.
Harbor Protocol: This is a dApp built on the Comdex chain & powered by the Cosmos SDK and CosmWasm smart contracts to enable safe listed assets to be locked in Vaults and mint Composite.
In addition, there are two other advantages/importance of the Harbor Protocol.
- Harbor protocol facilitates users to earn interest by depositing Composite in its Locker module.
- Harbor protocol enables market makers and users to capitalise on arbitrage opportunities with its StableMint feature ensuring Composite maintains its peg in secondary markets.
Note: the native token for the protocol is known as $HARBOR
While introducing of $HARBOR token?
There are so many unexpected occurrences in the crypto market. For example, we have some regulatory risk due to a majority of cryptocurrency trading occurring on exchanges within specific countries, if there is a harsh attempt to suppress cryptocurrency trading by governments in such countries, this could crash the virtual currency’s prices.
Now, the introduction of $HARBOR token is to maintain the health of the system in case of exceeding debt in the system and be the final backstop to re-peg Composite token in secondary markets.
According to the Harbor Protocol document:
If there are a multitude of bad debts existing in the system which do not generate revenue with the expected interest, the system surplus will start depleting. If the system surplus falls below a certain safety limit, then new $HARBOR tokens are minted and auctioned off via Debt Auctions in exchange for $CMST.
$HARBOR Token Airdrop
Based on the tokenomics of HARBOR, 15% of the total supply of 1 Billion is apportioned for Cosmos Ecosystem & beyond and we already have some of the IBCgang token holders claiming their tokens. You can check the below video on how to claim your $HARBOR.
Furthermore, knowing that we are considering the Comdex chain, there are a lot of proposals created by the Comdex team that the Cosmos community already voted yes, due to how sustainable such proposals are to the entire Cosmos community.
- Addition of $JUNO as an asset on Comdex Network.
- Addition of $WETH as an asset on Comdex Network.
- Addition of $WBTC as an asset on Comdex Network
- Addition of Axelar DAI as an asset on Comdex Network
- Addition of WMATIC as an asset on Comdex Network
- Addition of ATOM-CMST vault pair with given vault properties in Harbor Protocol.
Adding more assets on Comdex Network activates trading, lending and borrowing of the asset on Comdex Network.
It will further interest you that, the new partnership between Comdex and Crescent DEX kickstarted the public farming incentive of $CMDX & $CMST, so trading these two assets on Crescent becomes easy.
The activities between Crescent and Comdex is divided into three.
- Proposed Asset Pairs on Crescent DEX: This asset pair is between four major assets which are; $CMDX, $CMST, $USDC.axl & bCRE
- Private Farming Incentives: This will come in three pools which are; $CMDEX/bCRE, $CMST/bCRE & $CMST/USDC.axl. The incentives will last for 30 days.
- Public Farming Incentives which comprises of $CMDX/bCRE and $CMST/bCRE with a liquidity driver period of about 28 days and farming is said to be adjusted based on liquidity and trading demand.
The growth at Comdex can not be overemphasized as the team keeps developing and accommodating projects to launch on their chain.
Some Keynote About Comdex
- Four Wallets Associated With CMDX: Cosmostation, Kepler, Leap & Falcon wallet
- There are five staking platforms associated with Comdex: Omniflix, Unagii, Cosmostation, EZ Staking, and Citadel.One
As the year to closing, take a look at the entire ecosystem at Comdex and make a new plan on your journey with Comdex as there is still much information attached to this ecosystem.
