Let’s Talk COMDEX

4 min readDec 27, 2021

Let’s talk about Comdex

Take a deep breath and exhale!!!

Now take your mind back to the first time you heard about Comdex. One year ago? Two years ago? Maybe you are just like me; getting my first experience of Comdex a few months back after getting too attached to the Cosmos ecosystem and Persistence in particular. You might also be like my friend who was told he was eligible to claim a $CMDX airdrop for holding $ATOM. Either way, we all got in on Comdex and the beauty of it all. Let’s talk about Comdex and what we expect from this unique platform but for the sake of newbies like my friend, Alex, maybe we’d go back a bit to understand the Cosmos Ecosystem and then Persistence. That would set us in a good place to understand Comdex.

Cosmos

The Cosmos ecosystem is gaining traction and many projects are building on the Cosmos SDK. With Cosmos, it is all about an open, scalable and interconnected economy for the future. Interoperability is key, for Cosmos and inroads have been made to ensure that it is indeed an internet of blockchains. So many projects are building on it to leverage on the Cosmos framework which would solve the blockchain issues of scalability, sovereignty, interoperability and sustainability. Projects like Persistence, Akash Network, Sentinel, Regen amongst others have built on Cosmos but we would be taking special note of Persistence and how it relates to Comdex.

Persistence

With Persistence, you’re looking at a project that is placing itself as the leader and a top project looking to help improve decentralized finance (DeFi) and bridge the gap between DeFi and centralized finance. If you are observant, you’d notice that there is quick growth and expansion going on within the ecosystem. Being the pioneer for a series of next-gen financial products, you can easily see why there is so much hype around this top DeFi project. With products like pSTAKE, AssetMantle and Comdex amongst others yet to launch, it’s easy to say that they are poised to take the Decentralized Finance (DeFi), Non-Fungible Token (NFT) and Proof-of-Stake (PoS) space by storm. For the purpose of this piece, we’d be talking about Comdex.

Comdex

Comdex is Persistence’s flagship dApp and is looking at democratizing commodities via interchain synthetic assets. Synthetic assets are a group of assets that have the same effect as the ownership of another asset. This simply shows that synthetic assets obtain their value from other assets like precious metals, minerals, currency, stocks, bonds, and other commodities. With them, you can keep track of these asset classes while creating new opportunities for these aforesaid asset classes and the good thing is that there would be no need for investors to hold these real-world assets. With Comdex, you are looking at pushing the narrative for commodity synthetics within the Cosmos ecosystem. This new commodity synthetics of Comdex, is set to open up various opportunities beyond what is normally seen in the crypto space and in decentralized finance, DeFi. What do we get from this?? Access! Global Access to Finance. Many commodities would be made accessible to cryptocurrency and blockchain enthusiasts via the Comdex trading platform.

Why Comdex

Now, I believe we can now see Comdex as a fully interoperable synthetics protocol but here are some of the features that set Comdex out.

Synthetic Assets

Comdex gives us access to a wide range of financial assets. The benefits of these synthetic assets cannot be overemphasized. There’s this known fact of a lack of correlation between commodities and stocks (and bonds). This implies that there would be a bigger degree of spread inside the portfolio of a user. Synthetic assets have also been known to protect users from the high degree of volatility that commodities usually have whilst also protecting from inflation.

Tokenization

With Comdex, you can have on-chain representations of real world assets. What does this mean? My friend Alex can have his bungalow represented on the blockchain. Isn’t that awesome?? Not just your house but your bonds, stocks, positions, minerals and precious metals can be represented on the blockchain.

Synthetics Exchange

Comdex would serve as an Automated Market Maker DEX for the exchange of synthetic assets. Comdex goes beyond getting you the synthetic assets. You can trade them. Alex can trade the on-chain representation of his bungalow with ease on the Comdex AMM. Now that’s a thing of beauty.

Lending

Comdex would give you access to finance through collateralized debts. Through ShipFi, we might understand this concept better as trade finance debt products can be digitized making debt records accessible through holdings. Debt asset synthetic tokens would then be created on-chain thus giving exposure to the debt assets.

Comdex is here to stay and we all are excited to be part of this great project that’s pushing the narrative for synthetic assets and commodities trading on Cosmos.