Comdex’s Voyage to Mainnet
Today, Friday 20th November 2021, the Comdex Mainnet will be launched. The Comdex team is shifting its attention away from creating a singular holistic product and toward developing a suite of decentralized and interoperable services (Enterprise trading platform, ShipFi, Synthetics).
Now is the moment to bring interoperable and compatible solutions to the market, given the recent rise in institutional attention and financial funding. Comdex hopes to transform the commodities sector using this package.
History of Comdex
Comdex was founded in 2018 to develop a solution that would improve worldwide entry to financial services.
The confidence in a compatible future went hand in hand with emphasis an on financial equality. The protocol's release on Cosmos felt like a sensible opening move toward achieving this aim.
Comdex's first objective was to deliver meaningful usefulness to the $17 trillion commodities area, which at the time was facing a $1.5 trillion funding shortage.
To close the deficit, the team sought decentralized liquidity from its protocol's users by providing them with physical-backed on-chain assets with intrinsic value.
Comdex's current success was not without its difficulties. The cryptocurrency bear market of 2018 posed a fresh batch of hurdles for the sector entirely, including a drop in retail interest, a lack of major institutional uptake, and an overall lack of serious acceptance.
Cosmos was still in its inception at the time, and it was far away from the powerful, interoperable blockchain internet we know today. Even amid such hardship, the team remained focused and kept working toward the inescapable vision that was known to be just over the horizon.
Progressing in a Post-Pandemic World
When the Covid pandemic hit in 2020, it shook the entire supply chain to its foundation, worsening issues in an already stressed commodities economy. As a result, what was once a $1.5 trillion financial imbalance has expanded to $3.4 trillion.
With the introduction of the Comdex Mainnet, the moment has come to change attention from developing a single complete solution to developing a series of decentralized and compatible services that function in tandem. This strategy effectively tackles existing concerns in the actual world and corresponds with the idea of the Cosmos ecosystem overall.
Product Packages from Comdex
Comdex is quickly evolving into an ecosystem of services that will democratize banking and establish a link between DeFi and CeFi in the future.
Traders from 18 companies in four countries have used the platform to complete over $160 million in trade operations.
Comdex's World-Changing Products
1. Enterprise Trading Platform: a platform for business where trading SMEs/MSMEs have greater entry to funding through assisting in the resolution of credibility and performance issues in the commodities trade business.
2. ShipFi: This application, which is planned to emerge in 2022, strives to deliver trade finance debt and collectible assets on-chain to get liquidity.
3. Synthetics: This allows DeFi traders to invest in real-world assets by allowing the production of synthetics.
With the evolution of both the Cosmos and DeFi ecosystems, it is now feasible to connect the two worlds.
Cosmos' ethos is reflected in Comdex's vision. It's a culture of collaboration and interoperability. Comdex is just one manifestation of a wider vision in which value may circulate across the global decentralized system of the future, like water.
In conclusion, Comdex is dedicated to providing the planet with the innovations that people desire. The transformation of humanity's most essential asset (commodities) will be realized by working together.
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