COMDEX Releasing Collateralized Stablecoin & Borrowing/Lending Platform (Cosmos Network)
The global access to finance in a decentralized way is getting more interesting as we began to see a great project in the crypto space releasing amazing products to meet people's needs.
Since the synthetic protocol and DeFi infrastructure layer at Cosmos Network (COMDEX) launched, the team has been developing and building more utility for the $CMDX and supporting the entire Cosmos ecosystem.
Let's dive in to see the recent update in the camp of COMDEX.
What Is COMDEX?
Comdex is now a defi infrastructure layer for Cosmos. One of its products cAsset is a decentralized synthetics app that facilitates the creation of synthetics assets by collateralizing crypto assets.
Branching away from the what Comdex means as stated above, the team recently released to the space the testnet decentralized synthetic exchange platform that accommodates an exchange of synthetic assets, commodities like GOLD, SILVER and OIL, this makes people outside the crypto space easily connect to the financial solution in the decentralized market.
The most recent news is the new partnership with Big Dipper that launch the new explorer revealing the $CMDX market cap at $12,783,139 with over 66% of the token bonded on its network and 80 number of active validators.
Composite Money & Commodo Finance are the two products built on Comdex's chain. They are not yet launched.
The fall of UST has given many Cosmos users concern about sustainable stablecoin on the network and with this, COMDEX has been working on the release of collateralized stablecoin for IBC ($CMST) and after two days of TestNet Software upgrade proposal created, the proposal passed with 51.91%Details
To bring value to upcoming collateralized stablecoin, Kado Money, a payments infrastructure built for Web3 is looking forward to partnering with Comdex to provide on/off-ramp services and also envisions a long-term partnership with Comdex by exploring and collaborating on various fronts in the future.
Access to finance through collateralised debt is another point to consider at COMDEX, what's where COMMODO FINANCE comes in.
COMMODO FINANCE emerged as IBC-native lending and borrowing platform on Cosmos built using COMDEX infrastructure.
What Are The Benefit Of COMMODO FINANCE?
✅To take a position; long (Lend)/short (Borrow)
✅Capitalise on arbitrage opportunities
You can read further about COMMODO FINANCE
There are a lot of things to learn about COMDEX, free to check out the official links for more details
Posted Using LeoFinance Beta