Comdex is building a "Decentralized Synthetics Exchange". Synthetic assets will be minted by collateralizing assets from the Cosmos eco-system, such as ATOM, AKT, or the native CMDX token soon to launch. These "cAssets" can then be traded, or LP'd on a new Dex called cSwap. They are also launching a product called "ShipFi" which they describe as "Digitization & exchange of ownership of commodity trade finance debt."
Liquidity Bootstrapping pool.
The native token for Comdex (CMDX) is being launched and entering price discovery via a liquidity bootstrapping pool (LBP) which is running on Osmosis. This pool has just been opened up, and price discovery is underway. The pair is ATOM/CMDX, and it is starting with a weighting of 10% ATOM and 90% CMDX. Over the next few days, the weights will gradually shift till the pool finds balance at 50/50.
Basically, a LBP is a mechanism of price discovery where the price starts off quite high, and gradually falls to a point where demand meets the supply. By gradually adjusting the weights of the two assets in the pool, the price drops until buyers step in and an equilibrium is found. Eventually, the pool moves to it's final weighting and the process is complete. Comdex wrote a blog post about the process that you can find here.
Launching price discovery via a LBP is way to ensure a fair launch, and enables early adopters to buy in through a price discovery model. Early sales will be at higher prices, so generally the price will decline over the course of the LBP process till buy pressure is sufficient to absorb the token supply. It is a fairly unique method, and this is only the second such process run on Osmosis after REGEN ran a similar pool on its launch.
Comdex Airdrop.
It has been said that the airdrop of CMDX tokens will follow soon after the conclusion of the LBP. These tokens are being airdropped to the XPRT (Persistance), LUNA (Terra), ATOM (Cosmos) and OSMO (Osmosis) communities. If you have these assets, you can check this link to see if you are eligible.
Personally, I have qualified for around 160 CMDX. Not nothing, but not a huge amount. I think some of my ATOM was unstaking at the time of the airdrop, and I missed some qualification. Anyway, that's better than nothing. Currently, with the LBP in its early stages, the price of CMDX is around $4, so that's about $640 in value.
this excellent guide for participating in the LBP. Highly recommended.If you are getting the airdrop, and planning on staking it as a long term position, I know that Leofinances own @nulledgh0st is working with a validator team called Whispernode. This is where I will stake my CMDX. He has also, I have just seen, produced
I want moar!
I have decided that this is a platform I definitely want to build a position in. The idea of having synthetic commodity assets in an LP position, and earning CMDX rewards is interesting. If the team does manage to bridge trade debt finance into a blockchain environment, the addressable market there is huge. This combination of synthetics, and tradfi onboarding could make this platform one to watch.
Collateralizing Cosmos eco-system assets into a position in cOIl (a collateralized synthetic oil) for example, gives all sorts of interesting options, and ways to build a crypto position in traditional commodities. If you are after more information about how this will all work, their blog post on this topic covers it much better than I could.
Are you qualified for the Comdex drop? Planning on participating?
Feel free to share your thoughts in the comments.
Thanks for reading,
JK.
this linkP.S. Do check out @nulledgh0st's post at
Cheers.
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Thanks, @jk6276, for this glance at ecosystems I haven't got in touch with yet, and for the explanation regarding the Liquidity Bootstrapping Pool mechanism.
I know that Cosmos is building something that seems to prefigure what'll be the most efficient blockchain design for the next decade, and definitely have to jump down that rab-bit hole ;-)
The blockchain handling of commodity trade finance debt also triggered my curiosity. Do you think it's forerunning decentralized solutions for the commodities markets as a whole?
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I like the Cosmos approach - instead of trying to build one blockchain to do everything, they are building an eco-system with many chains, able to link to each other through IBC. The approach appeals to me so much more than all the chains building layers on top.
It's a space I don't really know a lot about. It makes sense, but I'm probably not knowledgeable enough to comment. I hope so is probably the best answer I can give.
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Thanks for the shoutout! Too funny that we posted right around the same time, haha.
Excellent write up, the pricing is already precisely in line with that we guessed it would be. I'm curious to see what happens over the next 2.5 days! I only received slightly more than you for the airdrop (~212) + won 20 for being an early bird for the mainnet launch event xD
The Cosmos ecosystem has been absolutely amazing in terms of airdrops this year; in fact, if it weren't for the airdrops, I may not have wandered over to it when I did. I truly believe that the network of the future is being built over there, and every new project (like Comdex) that springs up and fills a niche gap, gets us one step closer to mass adoption.
Cheers to a bright future and big yields!
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My entire Cosmos adventure started with seeing someone on Twitter hint at airdrops well before the main chain upgrade that started IBC. I freed up a little bit of capital and got some ATOM staked, just in time for the snapshot that so many drops were based on.
Looks like demand is strong early on, price now hovering around $5. The low token supply means our 150 - 200 ish might be a decent amount after all.
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Same! Wild how airdrop hunting ended up becoming not only my main investment focus now, but also lead to my new livelihood via validators - freakishly crazy in my mind.
Everything on Osmosis is skyrocketing right now, ATH liquidity / volume, and CMDX is nearly at $5.50.
Think we will see $10 with this thing?
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Maybe, it seems that demand is high, and like you said everything on Osmosis is pumping at the moment.
It won't surprise if there is some fomo push it over $10. Certainly trending in that direction.
Next we need to see when Desmos will have a place to trade and price. Have you heard anything on this one. I'm just quietly staking and compounding, waiting for some news.
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Comdex did a really good job of marketing, hell, part of my 500k delegation is to help market, so they definitely did their homework, hence why things are going great so far.
Desmos is also next on my list - planned on getting a validator live this weekend for the team, it looks like an Osmosis listing should be happening soon. Where are you staking, Forbole X? I haven't downloaded it yet as I was somewhat worried about it, however, I just bought a new ledger, so I may move my Desmos to that, and then try it with Forbole. What's the APR atm on that too?
Also, there's another one that is launching mainnet tomorrow - ODIN Protocol. Apparently, it's already an existing token on another chain (I forget which, a buddy told me about it last night), but I've prepped 3 nodes for when they drop genesis (most likely this morning sometime).
You should add me on Discord so I can keep you in the loop on things: @ghoststake#2782
For Desmos I'm using Forbole X. Its been pretty smooth for me. APR is around 40%. I got 874 in the drop, and have earned 10 from staking rewards in 9 days.
Will have to look out for ODIN - have heard of it somewhere, but haven't looked in to it.
So much going on its hard to keep up.
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I have both Cosmos and Terra since September but looks like another airdrop missed for me.
Bugger. Your time will come, I'm sure. Probably not the next couple to come out, but hopefully after that.
Have you checked the links in this post to see if you have qualified for any?
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Thanks for the link. I qualified for Game but seems like i did something wrong back in September to miss out on Lum.
Are they staked? Liquid probably doesn't count.
Yeah I think it is because I had them liquid and then staked to an exchange at the start before figuring out what to do. Hopefully there will be more airdrops using snapshots from October.
Be careful, Shade airdrop specifically excludes stakes on exchanges or 0% commission nodes.
https://leofinance.io/@jk6276/airdrop-alert-several-weeks-to-prepare-shade
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Thanks for another awesome heads up!
Yes @jk6276 ...
... and I agree this one looks very interesting.
I decided to play with the LBP a bit this morning, with some OSMO rewards, and do my small part in price discovery. I think this is a fascinating way to launch a new blockchain and will be very interested to see how it plays out.
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