COMDEX: The Concept of an Isolated Money Markets with Bridged Assets | by Samuel Olapade |

In January 2022, Comdex integrated with CosmWasm, marking the beginning of great products planned by the team to bring solutions to real-world problems in terms of transactions in decentralised and centralized finance. Comdex was known as a democratizing finance platform before its upgrades to DeFi infrastructure for the Cosmos ecosystem and not only that, its vision is to allow other developers to build bleeding-edge DeFi applications with Comdex.

As of the time of writing this article, the Comdex chain currently stands at:
♦️ 681k+ Transactions

♦️ 80 active validators

♦️ 68% Tokens staked

♦️ 5+ Projects building on chain

As big as the Cosmos ecosystem is, a native IBC platform that caters for lending/borrowing crypto/digital assets is lacking and the Comdex team sighted the necessity of launching one knowing that providing of sustainable yield for the users will improve decentralized finance capabilities of Cosmos Network.

Comdex has introduced the creation of a lending/borrowing platform to the entire Cosmos community and the developing team has been working to release the platform to the entire ecosystem soon.

Commodo is an IBC-based lending/borrowing platform under construction in the Comdex ecosystem. This platform uses Lend module available on Comdex chain 1.

Commodo Main Goal
There is Now main goal and Future main goal.

Now Main Goal
To provide a well secure, liquid and seamless platform that provides passive income for IBC asset holders.

Future Main Goal
To support bridged assets of:

  • Other Ecosystems.
  • Synthetics Assets.
  • Other Digital Assets.

Commodo is set to allow the above assets to plug into its earning mechanisms.

Taking Commodo platform under development, for example, a user deposit a digital asset into the pool and this gives a license to lend digital assets then yields on these digital assets is activated. As in traditional finance, borrowing an asset has to do with collateral which is subjected to interest rates. In the Commodo platform, utilization of the assets determines the dynamic interest rate on the platform.

Lending and borrowing is a common feature in decentralized finance but Commodo has some element that makes it a unique platform.

  • An interoperability function with the entire Cosmos ecosystem.
  • LP providers for IBC assets receive amazing rewards.
  • Fast with a low transaction fee on the network.
  • Highly secured platform based on the concept of isolated money markets with bridged assets.
  • When high volatility is activated, users can capitalize on arbitrage opportunities.

We have records of many decentralized platforms that have been compromised due to loopholes from the development team but the setup Commodo have is sustainable.
The Commodo platform will leverage on two bridged assets which are;

The selection of $ATOM is to aid the addition of utility to the token which then expands the use in the ecosystem.

CMST is a collateralized stablecoin ready to be launched on the Comdex blockchain. As the release of $CMST is under preparation, a platform that will enable minting of $CMST by the users is Harbor Protocol, this is part of the Comdex ecosystem.

The Harbor protocol will be powered by a $HARBOR token, a native cosmos-based coin of the protocol. This token has primary two functions;

  • Governance: As $HARBOR holders, voting on decisions that affect the protocol is made possible.
  • Recapitalization: The protocol auctions $HARBOR for $CMST in case of system insolvency.

There is more to learn about CMST and HARBOR, you can follow the information about $CMST collateralized stablecoin by visiting Composite Twitter Account.

Don’t forget, $CMDX (utility token for Comdex) has a role to plan in the Commodo ecosystem. When dealing with the voting of proposals under governance, $CMDX is needed. A community member or any individual that wants to participate in the Commodo proposal for approval must stake $CMDX before engaging in any voting engagement.

Understanding a platform start with a visit to the baseline or a pillar that holds such a project/platform. Commodo is a platform built on the Comdex chain, take a look at the entire Comdex platform by visiting its website and as the whole Cosmos ecosystem is waiting for the launch of the Commodo lending/borrowing platform, you can follow the project’s Twitter account for latest information.

Staking is one of the key features in DeFi and with $CMDX token, you can stake your holding on four staking platforms and start generating passive income daily.

Check out any of these platforms and leverage on them.

Comdex Website | Commodo Twitter | Comdex Doc | Comdex LitePaper

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