CMDX: The Utilities of Comdex’s Governance Token

Comdex from the name means Commodities Decentralized Exchange. This simply means a decentralized market place for world commodities. And Comdex, being a crypto project with connections to the blockchain, they have a token known as $CMDX, this token will be used to carry out activities in the ecosystem.

The Comdex ecosystem provides investors with the opportunity to own digital versions of globally recognized assets like Gold, Silver and even crude oil. The $CMDX token will play a huge part in this process and we are going to be looking at all the utilities of this token as well as the other ways it can be utilized which may not just be restricted to trading commodities.

About The $CMDX Token

CMDX is the official governance token of the Comdex ecosystem and will play an important part in helping Comdex fulfill its objective of building an ecosystem of solutions to democratize finance through synthetic commodities. Let’s have a look at the tokenomics of CMDX, before we highlight its utilities and role in helping Comdex achieve its vision.

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. 100,000,000 CMDX will be minted at the beginning and unlocked for 48 months.

The Utilities Of CMDX In The Comdex Ecosystem:

• Being the native token of the Comdex chain, CMDX powers the network’s staking economy. Transaction fees and staking will be done with CMDX as staking activities will provide security for the network.
• CMDX holders will be involved in the governance of the protocol. Holders will be able to participate in voting exercises when critical decisions are to be taken for the protocol like whitelisting of synthetics as well as collaterals that can be used on the platform.
• Comdex synthetics app users can collateralize their CMDX holdings to create and trade synthetic cAssets on Comdex Synthetic DEX, which is the main vision of 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.

Conclusion

There are lots of benefits associated with owning CMDX, apart from being able to collateralize for cAssets, one can also earn staking rewards for staking as well as earn rewards for providing liquidity although this is subject to APRs. Currently, there is a liquidity pool for CMDX on the Osmosis ecosystem. The liquidity pair is $OSMO/$CMDX with an APR of 101%. Investors can take advantage of this liquidity pool to earn rewards in $OSMO. The whole Comdex ecosystem is still developing and considering some fundamental analysis, the CMDX token is still very undervalued, so holding some at this point won’t be a bad investment decision in the long term.

About Comdex

COMDEX is a decentralized synthetics protocol in the Cosmos Ecosystem. Comdex builds solutions to democratize finance by giving investors exposure to a large range of asset classes.

For more details on Comdex, join the community:

https://t.me/ComdexChat
Website: comdex.one
Medium: https://medium.com/comdexofficial
Reddit: reddit.com/r/Comdex/
Discord: https://bit.ly/ComdexOfficialDiscord