Mainnet launch is key step towards creating a gateway for capital flow from DeFi into CeFi
After onboarding nearly 50 validators on their testnet, Comdex – a decentralized synthetics protocol striving to bring efficiency, transparency, and trust to the $17 trillion commodity trade and trade finance industries – is readying its mainnet launch for a November 20th take off.
In addition to its synthetics protocol, Comdex’s enterprise trading platform creates NFTs of real-world commodity assets on the Persistence blockchain, which enables users to securely and seamlessly exchange ownership of NFTs on-chain. Its ShipFi platform, a dApp in the Comdex ecosystem set for a 2022 launch, will enable DeFi investors to provide liquidity to CeFi debt assets and allows for the digitization and exchange of real-world assets for currency-backed stablecoins.
The Cosmos ecosystem has changed considerably since 2018, and the amount of institutional money that has poured into the industry over the last year has led to a wider acceptance for crypto in general even on the Centralized Finance (CeFi) side. Decentralized Finance (DeFi) and Cosmos are now more evolved than ever, so there is ample opportunity to bridge these two realms of finance.
Built on the Persistence SDK, Comdex’s enterprise trading platform facilitates the creation and exchange of tokenized community assets, solving trust and efficiency issues to provide SMEs and MSMEs with greater access to capital. The platform has seen over $160 million in workflows to date, serving traders from 18 organizations based in 4 jurisdictions.
Its decentralized synthetics exchange allows crypto investors to increase their exposure to various synthetic cAssets, which users can mint from the Cosmos ecosystem as collateral. Synthetic assets available upon mainnet launch will include gold, silver, and crude oil.
Initially, Comdex was a closed-end, enterprise-focused blockchain solution; however it has evolved into a robust ecosystem that allows liquidity aggregated from the DeFi market to flow into secure and well-structured investment vehicles. These vehicles are able to provide consistent returns based in fiat terms, which will allow DeFi users to hedge their overall portfolio risk.
Comdex has created a holistic range of interoperable solutions that tackle the industries’ problems while benefiting all stakeholders, opening up seamless access to liquidity. It offers a truly permissionless system, facilitating the tokenization of real-world assets with less friction than in traditional derivatives markets. Many investors today lack access to a wide range of financial assets. Synthetic assets allow for the seamless flow of capital between asset classes, regardless of geographic or regulatory limitations. Thus, enabling investors to move their capital across various financial markets.
Comdex started building its enterprise trading platform in 2018 in an effort to solve problems around efficiency and trust in commodities trade and trade finance, which would improve access for SME and MSME traders. Comdex’s goal is to open up financial markets and increase investors’ access to a broad range of asset classes while giving them the opportunity to generate higher yields from safer investment avenues.
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