What is Comdex?
Comdex is a decentralized synthetic assets protocol built on the Cosmos. The mission is to build an ecosystem of interoperable solutions to access financial products and services in the commodities space. Launching our protocol on the Cosmos ecosystem seemed like the natural first step in realizing this goal. Through synthetics, Comdex provides seamless access to global assets and liquidity. A truly permission-less system like this can facilitate the tokenization of real-world assets with fewer hurdles than those in the traditional derivatives markets.
Comdex provides end-to-end commodities trading solutions such as trade discovery, trade settlement, and trade financing. Comdex is keen on building solutions that will bridge the gap between DeFi and CeFi and thereby democratize finance.
Comdex is also working on building ShipFi a protocol that will facilitate digitization & exchange of ownership of commodity trade finance debt.
Role of CMDX in the Cosmos ecosystem
1) Being the native token of the chain, CMDX powers the network’s staking economy. Transaction fees and staking of CMDX helps secure the network. 2) CMDX holders can also be involved in the governance of the protocol. CMDX holders play a role in making critical decisions for the protocol like whitelisting of synthetic as well as collaterals that can be used on the platform. 3) Comdex synthetics app users can collateralize their CMDX holdings to create and trade synthetic cAssets on Comdex. 4) CMDX tokens will be distributed as rewards to liquidity providers and other participants who perform critical functions in the network. 5) CMDX tokens will be minted and burned to maintain the stability of cAssets in the network and ensure the solvency of the net debt of the network.
How Many CMDX Coins are in circulation?
The Comdex Mainnet went live on 20th November 2021 with a 100,000,000 CMDX genesis supply. 12.5% of the genesis supply (12,500,000 CMDX) is in circulation as of the launch of CMDX. The CMDX token is inflationary in nature with an inflation of 30% set for the first year and a subsequent reduction of 25% in the inflation rate in each with the maximum supply capped at 200,000,000 CMDX.
Who are the founders?
Abhishek Singh (CEO) and Siddarth Patil (COO) are the founders of Comdex. Abhishek Singh is an Engineer by trade, prior to founding Comdex, he was working as a Business Intelligent Consultant. Siddarth was working in Investment Banking, Wealth Management, and Management Consulting. Now the Comdex team is 25 members strong, passionate people from top institutes and diverse backgrounds.
Where can I buy CMDX?
CMDX is listed on the Osmosis zone and soon will be available on a couple of DEXs and CEXs.