Comdex introduced details about the token economics of CMDX, the native token of the Comdex chain that plays a crucial role in helping Comdex fulfil its vision to build an ecosystem of solutions to democratize finance.
CMDX plays five critical roles in the Comdex ecosystem-
🔸1) Being the native token of the chain, CMDX powers the network’s staking economy. Transaction fees and staking of CMDX helps secure the network.
🔸2) CMDX holders can also be involved in the governance of the protocol. CMDX holders play a role in making critical decisions for the protocol like whitelisting of synthetic as well as collaterals that can be used on the platform.
🔸3) Comdex synthetics app users can collateralize their CMDX holdings to create and trade synthetic cAssets on Comdex.
🔸4) CMDX tokens will be distributed as rewards to liquidity providers and other participants who perform critical functions in the network.
🔸5) CMDX tokens will be minted and burned to maintain the stability of cAssets in the network and ensure the solvency of the net debt of the network.
Comdex is a decentralized synthetics protocol in the Cosmos Ecosystem. Comdex builds solutions to democratize finance by giving investors exposure to a large range of asset classes.