COMDEX — The story so far!
At the beginning of 2022, Comdex laid out the roadmap and what it plans to achieve and now we are already in the second quarter of the year and the Comdex team has not disappointed at all with respect to the already laid down visions for the year. Let’s have a brief look at the 2022 Comdex roadmap for the first and second quarter of the year so we get a clear picture of how far the team has gone in achieving all that was set out to be achieved at this point in the year.
Roadmap for Q1 2022
Comdex promised to integrate CosmWasm into the Comdex ecosystem within the first quarter of the year pending the outcome of the governance vote, as the team was confident this move had the potentials to dramatically increase the functionality of the upcoming Decentralized synthetics exchange.
Following the introduction of the CosmWasm modules, if successful, the Comdex team planned to initiate incentivized testnets for the Decentralized Synthetics Exchange. This will allow users to gain rewards as they use the platform, giving the community key insights into the functionalities and features to be expected whilst contributing positively to the testing & development process.
The team also planned to release plenty of high-quality educational contents throughout the incentivized testnets period, allowing the community to maximize their experience on the Comdex platform by fully educating them on how the platform will function and gradually introducing the synthetics commodities markets functionalities.
The Comdex mainnet launch was scheduled to be released in the second quarter of 2022. the team envisioned to complete the Decentralized Synthetics Exchange and have the mainnet fully operational and in use by the community & the broader Cosmos ecosystem before the end of the second quarter of 2022.
The platform will enable users to diversify their holdings using synthetic commodities while still taking advantage of the blockchain technology. Liquidity pools were also going to be created where users will be able to provide liquidity with these commodity assets. For example, a user could mint a cAsset such as gold by creating a Collateralized Debt Position (CDP) to gain exposure to the price of the underlying asset and then provide liquidity with the newly minted synthetic asset, meaning they would have exposure to the price movements of gold & still be able to get yield at the same time.
Expanding the list of cAssets:
There were also laid out plans to expand the list of cAssets that users of the Decentralized Synthetics Exchange will have access to, giving increased functionality to our platform & more flexibility to our users. This will also expand the list of crypto assets users can provide as collateral, ensuring that the Comdex users can choose from a broad range of assets to participate.
So far, so good, it has been a successful first quarter of the year as the integration of CosmWasm was successful and there were also some incentivized testnets to help the community get more familiar with the functionalities of the decentralized synthetics market place. The general crypto community anticipates the mainnet launch of the decentralized synthetics exchange this second quarter of 2022, it will be interesting to see how this project does this second quarter after a very impressive first three months of the year.
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.
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