Comdex: Airdrop Details

November 18, 2021

Comdex is an ecosystem of solutions focusing on democratizing finance and helping capital flow seamlessly from DeFi and CeFi. The Comdex ecosystem offers a couple of trading solutions such as the Decentralized Synthetics Exchange (built on Cosmos), the Enterprise Trading Platform (built on Persistence), and ShipFi.

Currently, there is a Comdex airdrop for ATOM and XPRT holders and stakers. Check out more details on the airdrop availability below.

What can we expect from Comdex?

Decentralized Synthetics Exchange

Comdex offers a “Decentralized Synthetics Exchange” built on Cosmos. In traditional trading platforms, in its most basic form, derivatives are arrangements between two parties based on an underlying asset. Derivatives allow investors to make speculative bets without having to take direct exposure to the underlying asset.

Comdex offers a decentralized derivatives or “Synthetics” exchange allowing traders a form of tokenized exposure to the price movement of real-world assets. Through Comdex’s Synthetic exchange market, users have the ability to provide liquidity, borrow, and speculate on a wide range of real-world assets.

Enterprise Trading Platform

Comdex also offers an enterprise trading platform built on the Persistence SDK, which facilitates the creation and exchange of tokens representing real-world commodity assets. The enterprise trading platform functions by creating NFTs of real-world commodity assets on the Persistence blockchain and enables users to exchange ownership of NFTs on-chain.

The enterprise trading platform connects trade financiers, trade settlements, and trade workflows, all in one spot. In the pilot phase, Comdex has already processed over $160M of trade volume.

ShipFi

ShipFi will help Comdex bridge DeFi and CeFi. ShipFi allows for the digitization and exchange of real-world debt and assets for highly trusted currency-backed stablecoins like USDC, and BUSD. ShipFi will enable transfers for trade finance, real estate, and private equity.

The ShipFi ecosystem provides a decentralized platform for the issuance and initial fundraising for investment vehicles, followed by a secondary market. ShipFi also issues unique fungible tokens representing ownership to investment vehicles. Finally, ShipFi is responsible for issuing consistent stablecoin earnings to liquidity providers in addition to rewards in the form of the SHIP token.

Comdex Airdrop Details

Currently, ATOM, LUNA, and XPRT holders and stakers can check https://airdrop.comdex.one/ to see if they are eligible for the CMDX airdrop.

Airdrop eligibility criteria:

A minimum wallet balance of 1 token (of the network to which the airdrop is being distributed) must be held or staked at the time of the snapshot (Fri 8th Oct 2021 2:30 PM UTC).
Balances that were vesting or unbonding at the time of the snapshot are not eligible for the airdrop.
Only holders & stakers using non-custodial wallets like Persistence/Kelpr/Cosmostation are eligible.
LPs of tokens were excluded from the airdrop.

Stakers are included in this airdrop as well. Stay tuned on the Comdex Twitter & Blog for more details on claiming your airdrop once Comdex goes live on mainnet.

The CMDX Token

Quick takes: The $CMDX Token

The CMDX token powers the network’s staking economy

Transaction fees and staking of CMDX helps secure the network

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

Users can collateralize their CMDX holdings to create and trade synthetic cAssets on Comdex.
CMDX tokens will be distributed as rewards to liquidity providers and other participants who perform critical functions in the network.
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.

For more information on the Comdex token, visit their documentation here.

Next Steps: Comdex

Currently, Comdex is heading into their mainnet launch on November 20th.

Comdex is continuing on its journey towards opening financial markets and growing investors' access through the Decentralized Synthetics Exchange. Through the Decentralized Synthetics Exchange, Comdex aims to innovate and enhance investors’ access to a broad range of asset classes.