Stablecoin Summit Protocol Highlight – Comdex & CMST
Greetings Comdex & Shade community,
In this highlight series, Shade Protocol will cover our partner projects for the upcoming Cosmos stablecoin summit in December – giving viewers the opportunity to learn about these protocols in advance.
The following is a list of protocols and speakers featured via the Cosmos Stablecoin Summit:
- Shade Protocol
- Jack Zampolin
Comdex – Democratizing Finance
Comdex has a simple vision: democratize and revolutionize and revolutionize commodities trading by bridging a whole host of financial instruments and synthetic assets to represent this extremely important markets.
Comdex will eventually fully feature nearly 13 different key infrastructure modules, ranging from a liquidation module all the way to DEX liquidity module. Due to being built within the Cosmos ecosystem, Comdex will be connected to IBC – empowering liquidity to easily and freely flow on and off the platform.
Comdex aims to deliver solutions to create DeFi ecosystems that bridge with CeFi assets. As Comdex progresses, there is potential for building more customizable and generalized modules to facilitate the requirements of CeFi counterparts.
With the initial launch of Comdex comes the following modules:
- CDP module: Enables creation of debt assets through collateralization of IBC-enabled assets
- Asset tokenization module: Tokenization of real-world assets as on-chain NFTs
- DEX: An AMM-based exchange to facilitate swapping of Comdex ecosystem assets with IBC-enabled assets.
- P2P Exchange: Enables creation of P2P marketplaces for the exchange of assets in the Comdex ecosystem.
The Comdex Ecosystem
The Comdex ecosystem is rich with present and future applications – the following is a list of said apps:
- Enterprise trade: A B2B application built to tokenize real-world commodity assets and facilitate instant trade, settlements and financing.
- cAsset: A synthetics application to enable the creation and exchange of synthetic assets using IBC-enables assets as collateral
- Commodo: An IBC-native collateralized lending protocol. Featuring CMST.
- ShipFi: Digitization & exchange of ownership of commodity trade finance debt. Coming soon…
- CMST: An IBC-enabled stablecoin, native to the Comdex ecosystem.
- HARBOR: Governance token for Harbor.
- cSwap: a DEX built on the Comdex network.
One of the flagship products of the Comdex ecosystem is CMST (“Composite”) a collateralized dollar pegged stablecoin for IBC. The composite design was primarily inspired by the robust and reliable model built by MakerDAO for DAI. CMST can be minted permissionlessly as debt against over-collateralized CDPs of interchain assets.
HARBOR is the governance token for CMST. Harbor serves as a backstop to the CMST peg through a recapitalization mechanism inspired by MakerDao.
When CMST goes above the $1 peg, arbers are incentivized to mint out the stablecoin for $1, and sell for the current market price (above peg) – resulting in profit. If CMST is ever below beg, borrowers are incentivized to buy CMST at a discount to pay back their loans. These mechanisms are the driving mechanisms behind keeping CMST at its target $1 soft peg.
With the power of IBC, CMST is capable of being moved around multiple Cosmos blockchains – giving users the power to use it in various DeFi contexts!
Shade Protocol is an ambitious array of application-layer products focused on a simple end user experience that involves the incorporation of privacy by default. These interconnected privacy-preserving DeFi products built on Secret Network will change DeFi as we know it — empowering the next generation of value creation and exchange. Shade Protocol is launching Silk: a privacy-preserving over-collateralized stablecoin pegged to a basket of global currencies and commodities, built on Secret Network.
Without privacy, DeFi is incomplete. Traditional financial markets offer a degree of privacy for users, and as a result offer up greater protections in some capacity than existing DeFi markets. Shade Protocol will be the world’s first truly cohesive decentralized and privacy-preserving financial applications — ushering in a golden era for Web3. Shade Protocol will always push for privacy by default, privacy as an expectation, and privacy as the key to unlocking the full value of a decentralized future.
But we can’t do this without community. We need you to join our community and help make Silk and Shade Protocol a reality.
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