The Growth Experience At Comdex
The crypto market situation from the beginning of 2022 has affected many projects, individuals and crypto exchanges either DEX or CEX. The bear market seems not to end anytime soon, in fact, projects are closing out and most of their hodlers are left with negative signs in their wallet.
In the midst of this bear, there are projects that continue to develop and expand the use case of their utility token to make sure their users have a lot of features or products to leverage on.
Let’s see the growth at COMDEX
Since COMDEX became a DeFi infrastructure layer for the Cosmos ecosystem, it has been providing a variety of interoperable plug & play modules for projects to use to create their own DeFi platforms providing utility to the Cosmos community as well as DeFi users worldwide. In addition, Comdex is an all-in-one DeFi chain and projects has started building solutions on its mainnet (Comdex Chain).
According to AtomScan, the marketcap of its utility token is over 8B dollars with 97.64M (72.36%) of the token bonded on the network. There are 80 active validators contributing the network as Stakecito become the leading validator with total of 4.41M ($632,000) CMDX to claim 4.52% power on the network as at the time of this article.
To further update yourself with happenings on Comdex network, check the last week network statistic posted on the official Twitter account
Latest Update On Comdex Chain
As part of IBC gang, the hodlers of CMDX claimed some STRD airdrop as the development on Cosmos keeps increasing and the end on countdown of cSwap and HarborProtocol became a reality as both projects were launched same day on Comdex chain after months of testing the dApps.
What’s cSwap and its benefit to the Crypto Market?
cSwap is simply an orderbook-style Interchain DEX built on Comdex. The decentralized exchange cSwap is built to provides ecosystem wide liquidity for stakeholders with three major products:
- Orderbook-style DEX: This is built to become the principal liquidity source for the Comdex ecosystem
2. AMM Liquidity Pools: This serve as a feature that bring cross-chain markets and limit orders to DeFi.
3. Go to Platform: This is a place for traders and arbitrageurs to implement sophisticated trading strategies
cSwap gives users an opportunity to carry out four major actions, which are: Swap, Trade, Farm, and Govern. cSwap with its solutions released to the cryptomarket on 25th November 2022 has this following characteristics:
- Interoperable, Sustainable, and Decentralized.
- It has 4 wallets supported
- It has over 10 chains supported
Check out the App: https://app.cswap.one
Check out walkthrough into cSwap: https://blog.comdex.one/how-to-use-cswap-dex-walkthrough-4904f75600b0?gi=abbad700ec77
What is Harbor Protocol and its benefit to the Crypto Market?
Harbor Protocol is Interchain Stablecoin Protocol built on Comdex. It’s a publicly governed protocol that enables the minting of $CMST through collateralising interchain assets.
The protocol has four major features:
- Mint: This allows the Minting of Composite money ($CMST), an IBC-enabled stablecoin for the multichain.
- Govern: Users can participate in the governance of the protocol
- Earn Rewards: Users can claim rewards for locking tokens, including rebases, fees, and external incentives.
- Auctions: Users can participate in auctions to earn discounted collateral
We have been awaiting for new stablecoin on Cosmos network and here comes Composite Money $CMST with a unique features.
Characteristics of $CMST
- Overcollaterized: Every Composite stablecoin generated is backed by excess collateral, and hence its supply is always less than the value of collateral locked in Harbor Protocol.
- Decentralized: All decisions of the protocol functioning and parameter changes are voted on through governance.
- Earn Yield: Users locking their $CMST in Harbor protocol and on Commodo App can earn yields.
- IBC Native: CMST is an IBC (Inter‐Blockchain Communication protocol) enabled stable coin
The above features made CMST’s mechanism the most reliable model for stablecoins, which is censorship-resistant, permissionless, and decentralized.
Learn more about Composite Money: https://blog.comdex.one/the-mechanism-of-minting-cmst-32582ffc9175
Start Minting: https://app.harborprotocol.one
In summary, Comdex aims to deliver a robust infrastructure layer that supports the seamless creation and deployment of DeFi applications in the Cosmos ecosystem is becoming a reality with the launch of cSwap and Harbor Protocol and its certain more are still coming. We have seen how Comdex chain enhances investors’ access to a broad range of assets that help investors diversify and generate yield on their investments.
Keep an eyes on news update about Comdex by following all the social media handles.