ALL YOU NEED TO KNOW ABOUT COMDEX AND THE $CMDX AIRDROP
The Comdex platform is a synthetic asset exchange built on Cosmos, with ties to Persistence (it was built with the Persistence SDK), and has just announced airdrops for $XPRT and $ATOM stakers and holders. I will elaborate on the Comdex native token, the $CMDX, and tell you everything you need to know based on what I’ve learned so far. That being said, let’s talk about it……..
$CMDX Airdrop
One of the best things about Comdex and its native token, $CMDX, is that it has yet to launch, but it has been confirmed that it will be airdropped to the Cosmos community, with two sub-communities already confirmed to receive it. The Persistence community is one of these groups. The Persistence community is eagerly awaiting the $CMDX token creation event, as well as the launch of the next Cosmos chain, which is likely to be Comdex.
On the Comdex website, $ATOM and $XPRT holders and stakers can verify how many tokens they’re qualified to receive from the $CMDX airdrop. Some users had questions about how much $CMDX they could get, however the website has been changed to reflect the exact $CMDX airdrop eligibility. As a result, even if you’ve already confirmed your eligibility, I recommend that you double-check it simply to be sure you’re still getting the same amount you thought.
Criteria for $CMDX eligibility
First and foremost, you must have held $ATOM or $XPRT as of 2.30 p.m. UTC on Friday, October 8th. This is the only way to qualify, and fortunately, you only need a minimum of 1 of any of the tokens at the time of the airdrop to be eligible.
When can we claim?
The precise date is unknown. Comdex is awaiting the release of its mainnet, which is expected in November. This indicates that we’ll be able to claim those tokens in the next month or two, possibly even in December if the process is delayed.
Let’s talk about Comdex and the CMDX token
What is the significance of the $CMDX for the Comdex ecosystem? As I previously stated, Comdex is building its own ecosystem on the Cosmos blockchain, which will allow users to trade a variety of synthetic commodities. Using the Comdex platform, users will be able to build their own commodity assets, or cAssets, and will be able to either create markets or trade those markets. Comdex will most likely release other patches or ecosystem extensions in the future, implying that it could evolve into a trading solutions platform based on the Persistence SDK.
Roles of the $CMDX token
1 It is the engine that drives the network’s Staking economy. The network is secured by transaction fees and $CMDX staking. Users will be able to earn staking rewards for their $CMDX. Staking incentives are set at roughly 30% for the first year, and somewhat higher if the entire network isn’t participating in staking.
2Holders of $CMDX can also participate in governance, which is a good opportunity to help make important decisions about the protocol’s future.
3 On Comdex, users can create and trade synthetic assets using their CMDX tokens as collateral.
4 Liquidity providers and other users who fulfill key activities in the network will also receive CMDX tokens as a reward.
$CMDX Distribution
The community is getting a lot of $CMDX: 12.5% of the $CMDX genesis supply is being airdropped to Cosmo’s community members. This is most certainly $ATOM, $XPRT, and possibly $LUNA holders. In addition, 25% of the $CMDX will go to the team and advisers, 25% will go to the Treasury, and 25% will go to incentives. The remaining 12.5% will be allocated to the Community Development Fund. There will be a maximum quantity of 200,000,000 CMDX tokens available, with a 100,000,000 genesis supply available when the token launches. Some of it is, of course, locked up in vesting schedules.
To summarize, the initial circulating supply of CMDX tokens will be roughly 12,500,000, which will be somewhat less if all of the airdrop tokens aren’t claimed right at once.
Kindly stay updated with the happenings around the Comdex network and the CMDX airdrop below:
