Comdex, The Hero Cosmonauts Deserve
The Russian invasion of Ukraine shook the entire world to its core.
Global markets responded with sharp selloffs (nearly across the board). However, one sector of the financial system is a standout. As happens so often in times of uncertainty, Gold, Silver and Crude Oil have all been moving higher over the last month, with an especially rapid uptick over the last 24 hours.
Cosmonauts will soon have their own harbor to safely dock at, thanks to the Comdex decentralized commodities platform.
The above chart was prepared using Tradingview, comparing the performance of Gold, Silver, Oil, and BTC over the last 5 days. As troubles and tension mount in the world, capital can easily be observed fleeing from markets into the safe haven of commodities. It’s an extremely common wartime trend.
Many in crypto have attempted to promote Bitcoin and crypto investment as a hedge against traditional markets, however, that narrative has all but collapsed. Crypto moves with the mainstream markets — when the stock markets go up, so does Bitcoin, when things crash, so does Bitcoin.
That’s where Comdex comes to the rescue.
Comdex is building a Synthetic commodities DEX, where investors can collateralize various cryptos (like $ATOM, $UST, & $LUNA) to effectively gain exposure to synthetic commodities like Gold, Silver, and Oil. Users of the platform will be able to pair these assets with the native $CMDX token in liquidity pools, to facilitate trading and gain exposure to price movements in these markets.
Being able to utilize this platform is going to be massive for Cosmonauts. Existing assets could be safely locked and collateralized in favor of safe-haven investments, such as gold, without having to liquidate crypto -> physical gold bullion. Synthetic gold will enable a much easier path for many crypto native investors to gain exposure to these commodities and hedge risks associated with a shaky global sentiment.
While other options do exist, Comdex will offer a user-friendly UX and low fee transactions to make trading synthetic commodities easy and accessible for the everyday Cosmonaut.
The use case for crypto investors to be able to hedge their portfolios with exposure to these safe-haven commodities is only part of the appeal, but it comes into sharp focus during these uncertain times. Comdex is poised to become a “Shangri-La” for Cosmos ecosystem investors; adverse conditions be damned.
There was a fantastic podcast done by the team’s Co-Founder, Siddarth Patil, with “The New Trust Economy”, which really highlighted this use case. Presenting Comdex as a great option during a bear market, Siddarth hit the nail on the head considering today’s events. Released late last year, it’s a recommended listen if you wish to gain greater insight into Comdex’s unique platform & approach to solving the crypto investor’s hard-asset dilemma.
CMDX is on sale at the moment, having followed the market down and currently trading under $2 each. This uncertainty presents an opportunity to average down (if you already have a bag), or, buy-in if you are new to Comdex.
As always, this post is not financial advice; readers are recommended to do their own research.
WhisperNode is welcoming delegations to our validator, and Comdex is one of our primary focuses as a validator across the Cosmos ecosystem. Also, in case you missed it, feel free to check out our previous Comdex content, including this look at network upgrades that are occurring soon.
All we can say in these troubled times is…
Bring on the Decentralized Commodities Exchange.
