The Comdex Mainnet Launch — What to expect
Throughout my journey on the blockchain space, I have never felt the type of attachment towards an ecosystem as I have towards the Cosmos ecosystem. The internet of blockchains that is providing an open, scalable and intertwined economy for the future. They say fate and luck favours the bold and this fate brought me to the Persistence ecosystem. A protocol powering next-gen financial products with which to make inroads into the decentralized finance (DeFi), Non fungible tokens (NFT) and Proof-of-stake (PoS) space. With so many products being talked about I had special interest in Comdex. This was because of my interest in Synthetic assets. Comdex is Persistence’s flagship dApp that looks to democratize commodities via interchain synthetic assets.
So many users out there were eligible for the CMDX airdrop and eagerly anticipated the mainnet launch. So how did the launch go and what do we expect from Comdex?
Let’s dive through
The days leading up to the launch where fun filled and everyone anticipated the launch. The date for the launch was 20th of November, 2021 at 3:30 PM UTC+1. There was a link for enthusiasts to register while getting a chance to be among the 25 winners for 20 $CMDX each. Some of the speakers for the launch party included Adriana Kalpa (Founder of Kalpa Tech), Jazear Brooks (CEO of Sifchain), Tushar Aggarwal (CEO of Persistence), Mikhil Pandey (Strategy and Business Development, Persistence), Brent Xu (CEO of Umee), Dan EdleBeck (Co-founder of Sommelier), Martin Worner (Co-founder and head of product, Confio), Greg Osuri (Founder of Akash Network), Chjango Unchained (Twitter influencer) and Seth Estrada (YouTuber, MineYourBiz). The moderators were Liam Connor (ConfidentInCrypto, YouTuber) and Cryptocito (YouTuber). During the launch, a series of project set up the virtual Boots at the launch party. These projects are Exidio, Persistence, Umee, Aftermail, Sifchain and Desmos Network.
Registrations were overwhelming and $15 registration slots were opened up for the event. Comdex went live as mainnet was launched with various news outlets coming out to talk about Comdex. These included Yahoo and Coinquora.
What to expect from Comdex
A lot could be said about Comdex but from my view, it all boils down to making finance globally accessible. They will do this by bringing centralized and decentralized finance. This is done by three solutions proposed by the Comdex platform.
With this solution, Comdex is looking at solving some of the issues that are prevalent with SME and MSME commodity traders all round. How does it work? Let’s say you have an asset, say a house . You will be able to create an NFT for that house on the Persistence blockchain which you can move from one person to another like you are sending tokens or NFTs across wallets. The owner of the NFT will be the owner of the real-world asset, house. This has given access to many restricted assets and is making the vision of democratizing finance even more visible.
With ShipFi, you’re looking at a link between centralized and decentralized finance. The digitization of trade finance debt products will be facilitated by ShipFi. This will ensure that debt records will be accessible through crypto holdings. Synthetic tokens of these data sets will be created on-chain, thus giving exposure to these debt assets.
This is the final piece to the contact solution where an investor of DeFi would be given access to a wide range of physical goods through minted cAssets.
With Comdex, it’s an everyday work towards finding decentralized solutions to the many problems we see in the market. With this, we can expect to see how we can bridge the Cosmos and DeFi ecosystems. The vision, which reflects what Cosmos is all about, remains and Comdex would push towards interoperability and seamless cooperation between different projects and ecosystems. I’m indeed pumped to see commodities in a different way and with much more scope and Comdex is putting this on a platter.