CMDX - The journey so far
The journey so far with the CMDX project has been incredible. The series of events went thus, after the mainnet launch on 11/20 which came with an embryonic set of 64 validators, Liquidity Bootstrapping Pool was held on 12/03 in which community members were permitted to engage in veritable price discovery with no entry blockage.
In case you’re wondering what exactly Liquidity Bootstrapping Pool is best explained as a contract that directs a core pool comprising of contract tokens that will be used on an exchange. This is the fairest launch procedure in which participants are permitted to wait and accumulate some CMDX at a reasonable and considerable rate.
What is CMDX?
To those that have been following lately, you may probably have an understanding of this. Just in case you don’t, here’s a brief rundown. COMDEX ecosystem has a native token, and that native token is CMDX. This token however has a lot of use cases
Use cases of CMDX
The following use cases will be discussed in brief detail
Governance: Token holders will have the right to stake their tokens in governance votes to determine future integrations and partnerships.
Token holders will also be able to stake via validators, Platform users are not left behind as they can collateralize their CMDX and mint C-Assets. This strongly insinuates that CMDX will also be important for the operation of the platform. Liquidity rewards are not left out.
Liquidity Rewards:
Liquidity can be provided by CMDX holders on decentralized exchanges to receive pool rewards.
This acts as a means of support to the COMDEX ecosystem as sufficient liquidity is added to the Dex to accomplish swap requests. This makes it easy and comfortable for users to perform swapping activities in and out of CMDX with minimal slippage and rapid fulfillment.
The blend of swap fees and inflation generates Rewards that are paid daily in OSMO which is the native token of Osmosis Dex.
Governance & On platform utility
Community contributions are a very important value for the COMDEX team. Therefore, it is important to the team that holders of the native token CMDX are given the privilege and right to contribute to the best possible ways the platform should be governed and thereafter cast a vote on the favored outcome. The team also supports the democratic governance process.
Staking
This however is a crucial part of POS infrastructure as holders are permitted to delegate coins to validators. The rewards are at first sponsored utilizing inflation and then transits to being funded by platform fees as the user base of the platform enlarges. For the time being, CMDX holders can stake their tokens in three locations
1. Cosmostation
2. Omniflix
3. Unagii
Also, COMDEX will provide its users exposure to a large host of communities, and finance tools will be traded whilst fungibility, security, and speed allowed by the Blockchain will be utilized. follow for more updates about the Comdex ecosystem and general cryptosphere. Subscribe and share if you found this useful